Force Motors is an integrated automobile company in India that focuses on design, development, and manufacturing of automotive components, aggregates, and vehicles. It offers products like tractors, three-wheelers, light commercial vehicles, multi-utility vehicles, and heavy commercial vehicles. Over the past decades, it has partnered with global automotive companies and established manufacturing facilities in Maharashtra and Madhya Pradesh. Force Motors aims to expand its product range and market share in India and abroad.

2. COMPANY OVERVIEW
INTRODUCTION
MANAGEMENT PERSONNEL
COMPANY ANALYSIS
INDUSTRY ANALYSIS
FUTURE PROSPECTS
TABLE OF CONTENTS

3. COMPANY OVERVIEW
INTRODUCTION
MANAGEMENT PERSONNEL
COMPANY ANALYSIS
INDUSTRY ANALYSIS
FUTURE PROSPECTS
TABLE OF CONTENTS

4. COMPANY OVERVIEW
Force Motors is a fully, vertically integrated automobile company,
with expertise in design, development and manufacture of the full
spectrum of automotive components, aggregates and vehicles.
Its range includes Small Commercial Vehicles, Multi-Utility Vehicles
(MUV), Light Commercial Vehicles (LCV), Sports Utility Vehicles (SUV)
and Agricultural Tractors. So no matter what the need be, Force has a
solution to offer.
Force provides appropriate solutions for transport – both goods
as well as passenger – rugged, reliable and efficient transport solutions
for every need- Rural or urban, long distance or local, over good roads
or bad tracks.
Force Motors, formerly Bajaj Tempo, is an Indian manufacturer
of three-wheelers, multi-utility and cross country vehicles, light
commercial vehicles, tractors, buses and heavy commercial vehicles. It
was originally named Firodia Tempo Ltd. and later after partial
acquisition by Bajaj Auto as Bajaj Tempo Ltd.

5. COMPANY OVERVIEW
INTRODUCTION
MANAGEMENT PERSONNEL
COMPANY ANALYSIS
INDUSTRY ANALYSIS
FUTURE PROSPECTS
TABLE OF CONTENTS

6. Force Motors Ltd is an integrated automobile company, which focuses on
design, development and manufacture of automotive components, aggregates
and vehicles in India.
 The company offers tractors, three wheelers, light commercial vehicles,
multi utility and cross country vehicles, and heavy commercial vehicles.
 Their subsidiaries include Man Force Trucks Pvt Ltd and Tempo Finance
(West) Ltd. Force Motors Ltd was incorporated in the year 1958 with the name
Baja Tempo Ltd.
The company was promoted by N K Firodia. Initially, the company started
production of the HANSEAT 3-Wheelers in collaboration with Vidal & Sohn
Tempo Werke Germany.
Now, they manufacture Tractors, 3 Wheelers, Light Commercial Vehicles,
Multi Utility Vehicles and Heavy Commercial Vehicles.
 In the year 1959, the company started their manufacturing operation in a
small plant at Goregaon, a suburb of Mumbai.
 The company changed their name form Bajaj Tempo Ltd to Force Motors Ltd
with effect from May 12, 2005. In May 2005, the company entered into an
agreement with DaimlerChrysler AG for sourcing the technology for G32 Gear box.
INTRODUCTION

7. MILESTONES
Production of Tempo 3-
wheeler; ‘Hanseat’ started
at Goregaon, Mumbai.
1958
The manufacture of TEMPO
VIKING 4-wheeler commercial
vehicle commences
1964
1969
The production of MATADOR
diesel light commercial
vehicle begins.
1982
The company, in collaboration with the then
Daimler Benz, produces the Mercedes Benz OM
616 engine under license.
1987
1988
The Tempo Traveller - production begins at
Pithampur.
The Tempo Trax, rough road vehicle is
introduced.

8. MILESTONES……contd.
1996
Force Motors introduced a new range of 3-
wheelers called MINIDOR in pick-up and auto
rickshaw models.
1997
The company enters the field of
agricultural tractors with Balwan.
1999
The EXCEL range of state-of-the-art Light Commercial Vehicles was
introduced. These vehicles with their superb ergonomics and superior
aggregates represented the latest generation of LCVs in India.
2000
Full range of production of Trax range of
vehicles achieved.
2003
The company enters into an alliance with
MAN Nutzfahrzeuge AG.
2005 Tempo was rechristened as
FORCE MOTORS LTD.
New state-of-the-art HCV
manufacturing facility was
inaugurated at Pithampur.
2006

9. MILESTONES……contd.
2008
Force Motors launched Traveller
Shaktiman, Traveller Luxury and
Traveller Smooth.
2010 New Cathodic Electro-deposition paint shop
inaugurated at Pithampur, Indore.
2011
Force Motors launched its first offering
in the Personal Vehicles segment, the
FORCE ONE.
2012 Force Motors introduces a revolutionary
passenger vehicle, Traveller 26.
2013
Force Motors introduces Gurkha, the
Extreme Off-Roader Vehicle.

10. TABLE OF CONTENTS
COMPANY OVERVIEW
INTRODUCTION
MANAGEMENT PERSONNEL
COMPANY ANALYSIS
INDUSTRY ANALYSIS
FUTURE PROSPECTS

11. BOARD OF DIRECTORS

12. MANAGEMENT TEAM

13. Shareholder’s Name
National Westminster Bank
PLC as Trustee of the Jupiter
India Fund
Total Shares
Held
Jupiter South Asia Invst. Co.
Ltd.- A/c Jupiter South Asia
Invst. Co. Ltd - South Asia
Access Fund
172,477
Vanaja Sundar Iyer 163,545
2.78
1.31
1.24
Total Share Held (in
%age)
366,022
ForceMotorsPromoterandPromoterGroup
52%
25%
23%
National Westminster Bank
PLC as Trustee of the Jupiter
India Fund
Jupiter South Asia Invst. Co.
Ltd.- A/c Jupiter South Asia
Invst. Co. Ltd - South Asia
Access Fund
Vanaja Sundar Iyer

14. TABLE OF CONTENTS
COMPANY OVERVIEW
INTRODUCTION
MANAGEMENT PERSONNEL
COMPANY ANALYSIS
INDUSTRY ANALYSIS
FUTURE PROSPECTS
COMPANY OVERVIEW
INTRODUCTION
MANAGEMENT PERSONNEL
COMPANY ANALYSIS
INDUSTRY ANALYSIS
FUTURE PROSPECTS

15. PRODUCTS
Personal Vehicles
Agricultural Vehicles

16. Commercial Vehicles

17. COMPANY LOCATION
The company has two plants:-
The company has established several sales departments for
distribution and sale of the Company's products
Akurdi, Pune,
Maharashtra
Pithampur, District Dhar,
Madhya Pradesh

18. STRENGTHS
OPPORTUNITIES
WAEKNESSES
WEAKNESSES
•Force Motors wants to set up
more units to expand LCV range
•They had a target of selling 4,000
units but they have reached only
50 per cent of that due to more
competitors.
•Low market share.
•Well known brand with good
reputation
•Strong engineering capability
•Global presence
•Safest Drive in class
•Opportunities in India and China
•Launch of new models Hybrid
vehicles
•Increasing demand for dual fuel
vehicles
•Sluggish light vehicle
production in developed
markets
•Economic slowdown in the
US and Eurozone
SWOT ANALYSIS
SWOT ANALYSIS

19. Global Footprints
Force Motors is a highly flexible, vertically integrated automotive company that can
cater to all types of markets, including niche markets, by providing customized 'country
specific' modifications.
Force Motors has a formidable product range in all segments, be it small commercial
vehicles, light commercial vehicles, multi utility vehicles and agricultural vehicles.
Over the last five decades it has partnered with leading global automotive names like
Daimler, ZF, Ricardo, Bosch and MAN. Through these associations it has developed
necessary expertise in-house for design, development and manufacture of automobiles,
sub-systems, components and aggregates.
The company exports its complete range of world class products to various countries
in Middle East, Asia, Latin America and Africa.

20. Company Core Values
•We, at Force Motors, endeavour to focus on each of our customer’s requirements and deliver
accordingly. Our customers are at the core of each of our ideal and they inspire us to experiment
and innovate at every step.
•Our R&D Center is equipped with most advanced CAD center and computer engineering
environment. The centre, with its well equipped computer engineering environment, gives us
ample opportunities to develop novel product designs for our most modern vehicles. Thanks to
our customers due to whom Force Motors has reached this stage of success.
Design Inspirations
•The new range of our products has been fully engineered and developed in-house by our
experts at the Force Motors’ R & D centre which is considered to be among the most advanced
in the country.
•The engines designed by Force Motors are fully checked for emission and fuel efficiency. An
elaborate and state of art tool room with the latest high-precision and versatile machines for
manufacturing is created solely for proficient engineering
Engineering Expertise
Contd….

21. •Force Motors has always been a highly flexible, vertically integrated automotive
company that extended its range beyond the boundaries through country specific
models.
•Over the last five decades we have partnered with leading global automotive
companies to develop necessary expertise in-house for design, development and
manufacture of automobiles, sub-systems, components and aggregates. Due to
this, our vehicles have reached the niche markets of Middle East, Asia, Latin
America and Africa.
Diversified Presence
•We focus on the utility of our products and evolve with the times to deliver the
unsurpassed.
•We have a formidable product range in all segments - from small commercial
vehicles, multi utility vehicles and light commercial vehicles to agricultural
tractors.
•We showcase some innovative and exclusive products appropriately custom
designed for the discerning Indian as well as the international market.
Evolving Utility
Contd….

22. •We are committed to cultivating a performance-driven culture that rewards results. Our core
team has developed great expertise in design, development and manufacturing of automobiles
with the help of our global partners.
•As a fully vertically integrated and complete automobile company, we focus on high quality, utility
and technology through superior product design, production engineering, hi-tech manufacturing
and innovative marketing.
Performance Driven
•We believe that delivering value through all channels drives growth. Force Motors
encourages innovation and motivates the 500 odd expert design engineers to create path-
breaking automotive designs.
•At Force Motors, every vehicle is run though durability test lab, engine test lab and
driveline test setups before it hits the road. Apart from test labs Force Motor’s has in house
torture track (Pave Track) for complete vehicle durability testing.

23. COMPANY OVERVIEW
INTRODUCTION
MANAGEMENT PERSONNEL
COMPANY ANALYSIS
INDUSTRY ANALYSIS
FUTURE PROSPECTS
TABLE OF CONTENTS

24. Automobiles Industries in INDIA
•15 manufacturers of passenger cars and multi-utility vehicles,
• 9 manufacturers of commercial vehicles,
• 16 manufacturers two/ three wheelers,
• 14 manufacturers tractors,
• 5 manufacturers of engines.

25. Key drivers for the growth of Indian Auto industry
Finance Availability
Improved
Infrastructure
Rising Family
Income
Favorable duty
structure
Poor public
transport system
Low car
penetration
Exchange of
Cars
Changing
lifestyle

26. Key Growth Drivers
• 3rd
• India’s share in global auto exports may
also triple by 2016
1st
• The Passenger Vehicle
market of India will even
cross Japan by selling
about 5 million Vehicles
by 2017-18.
2nd
•The Indian auto exports will be upto $5.62
billion in the year ending March 2011 and the
same will grow to $17.64 billion in 2015-16.

27. Future technological demands

28. PEER COMPARISON
Name Last Price Market Cap. Sales Net Profit Total Assets
(Rs. cr.) Turnover
Tata Motors 401.25 1,36,251.67 36,294.74 -4,738.95 34,943.56
Eicher Motors 16,771.15 45,520.90 3,031.22 558.92 1,233.66
Ashok Leyland 96.05 27,334.65 13,562.18 334.81 7,710.02
Tata Motors (D) 296 9,498.00 -- -- -
SML Isuzu 1,293.00 1,871.18 1,105.55 36.94 325.19
Force Motors 3,289.00 4,333.67 2,363.72 101.36 1,327.61

29. -20000
0
20000
40000
60000
80000
100000
120000
140000
Tata
Motors
Eicher
Motors
Ashok
Leyland
Tata
Motors
(D)
SML
Isuzu
Force
Motors
Last Price
Market Cap.
Sales Turnover
Net Profit
Total Assets
PEER COMPARISON

30. COMPANY OVERVIEW
INTRODUCTION
MANAGEMENT PERSONNEL
COMPANY ANALYSIS
INDUSTRY ANALYSIS
FUTURE PROSPECTS
TABLE OF CONTENTS

31. Particulars Mar '15 Mar '14 Mar '13 Mar '12 Mar '11
Net Sales/Income from operations 2,337.27 1,997.89 1,922.20 2,003.35 1,480.45
Other Operating Income 26.45 23.74 50.52 81.65 92.91
Total Income From Operations 2,363.72 2,021.63 1,972.72 2,085.01 1,573.36
EPS 76.93 58.97 10.84 625.62 44.49
P/L Before Exceptional Items & Tax 124.94 62.63 19.13 50.59 82.13
P/L After Tax from Ordinary Activities 103.62 77.94 14.7 824.33 58.62
Financial Highlights
0.00
500.00
1,000.00
1,500.00
2,000.00
2,500.00
Mar '15Mar '14Mar '13Mar '12Mar '11
Net Sales/Income from operations
Other Operating Income
Total Income From Operations
EPS
P/L Before Exceptional Items & Tax
P/L After Tax from Ordinary Activities

32. Particulars Mar '15 Mar '14
Share Capital 13.18 13.18
Networth 1,316.88 1,226.02
Debt 10.73 20.38
Liabilities 1,327.61 1,246.40
Assets 1,327.61 1,246.39
0
200
400
600
800
1000
1200
1400
Share Capital Networth Debt Liabilities Assets
Mar '15
Mar '14
Balance Sheet

33. 5 Year Profit & Loss - Consolidated
Particulars Mar '15 Mar '14 Mar '13 Mar '12 Mar '11
Net Sales
2,363.72 2,021.63 1,972.72 2,085.00 1,564.79
Earning Per Share 76.93 58.97 10.84 625.62 44.49
Depreciation
81.28 84.84 70.16 60.36 44.82
Profit beforetax
124.95 62.64 19.13 1,011.29 81.96
Taxexpenses
23.58 -15.07 4.85 186.97 23.35
Profit after tax
101.36 77.69 14.28 824.33 58.62
-500.00
0.00
500.00
1,000.00
1,500.00
2,000.00
2,500.00
Net Sales Earning Per Share Depreciation Profit before tax Tax expenses Profit after tax
Mar '15
Mar '14
Mar '13
Mar '12
Mar '11

34. QUARTERLY PERFORMANCE
Particulars Sep '15 Jun '15 Mar '15 Dec '14 Sep '14
Net Sales/Income from operations 755.98 634.09 694.55 511.92 592.37
EPS 32.24 27.14 35.13 7.58 19.50
EBITA 80.84 69.13 77.41 26.82 53.11
Net Profit/(Loss 42.48 35.76 46.28 9.99 25.69
0
100
200
300
400
500
600
700
800
Sep '15 Jun '15 Mar '15 Dec '14 Sep '14
Net Sales/Income from operations
EPS
EBITA
Net Profit/(Loss