SEBI asks Force Motors to share details about earnings, stock price movement

SEBI asks Force Motors to share details about earnings, stock price movement

• SEBI seeks Force Motors' Q3 and 9-month earnings details.
• No financial impact or penalties reported by Force Motors.
• Q3 net profit rose to Rs 406.1 crore, up from Rs 115.3 crore.

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Market regulator Securities and Exchange Board of India has asked Pune-based automaker Force Motors Ltd to provide details about the company's December quarter and April-December earnings for 2023-24, which the company had reported on February 12, 2024. SEBI has also sought details about stock price movement between February 12 and February 20, 2024.

On March 5, Force Motors shares closed 1.7% higher at Rs 21,815 apiece.

According to the regulatory filing, the company received an email from SEBI on March 4, 2026.

"SEBI with respect to announcement made by the Company on 29th October, 2024 for Unaudited Financial Results (Standalone and Consolidated) for the Quarter and half year ended on 30th September, 2024 sought information," said the firm.

SEBI has sought additional information, including the chronology of events, details of insiders, MIS particulars, designated persons, and an extract of the structured digital database from the commencement of the event until the information was published or became public.

The company clarified that there is no material impact on its financial operations at this stage. It also stated that no aberrations or non-compliances have been identified by the authority, and that no penalty, restriction, or sanction has been imposed pursuant to the communication.

Force Motors added that it will file a suitable reply to SEBI within the permissible timeline.

Last month, Force Motors Ltd reported a sharp year-on-year jump in profitability for the third quarter, supported by strong operating performance and a one-time gain during the period. Consolidated net profit for Q3 stood at Rs 406.1 crore, compared with Rs 115.3 crore in the same quarter last year.

Revenue from operations rose 12.6% year-on-year to Rs 2,128 crore from Rs 1,889.5 crore while EBITDA climbed 61.4% to Rs 373.8 crore from Rs 231.6 crore a year earlier.