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Smallcap auto stock soars 12%, nears record high; what's behind the rally?

Force Motors share price today Shares of Force Motors, a leading manufacturer of rugged and reliable vehicles, moved higher by 12 per cent to hit a fresh 52-week high of ₹9,991 on the BSE in Friday's intraday deals after the company reported a healthy operational performance in the March 2025 quarter (Q4FY25). Stock price of the smallcap automobile company surpassed its previous high of ₹9,885.05, which it had touched on May 6, 2024. It has bounced back 61 per cent from its February low of ₹6,210.55, hit on the BSE. Meanwhile, the stock had hit an all-time high of ₹10,272.65 on April 29, 2024. Force Motors Q4 results: For the January to March 2025 quarter (Q4FY25), Force Motors' reported profit before exceptional items and tax increased by 27.2 per cent year-on-year (Y-o-Y) and 56 per cent quarter-on-quarter (Q-o-Q) to ₹268.11 crore. Revenue from operations grew 17 per cent Y-o-Y and 24.7 per cent Q-o-Q to ₹2,355.89 crore. Exceptional items in the quarter represented exceptional income of ₹394.57 crore, being Government Incentives, as per the Madhya Pradesh Industrial Investment Promotion Assistance Scheme, 2010, recognised on the basis of sanction orders dated February 21, 2025, received in March, 2025, for FY 2022-23 and FY 2023-24. Out of the said sanctioned amount of ₹394.57 crore, Force Motors said the company has received disbursement amounting to ₹294.57 crore. Force Motors to supply over 2,900 Force Gurkha vehicles to the Indian Defence Forces On March 27, 2025, Force Motors announced a landmark order of 2,978 vehicles from the Indian Defence Forces. The company has to deliver 2,978 Force Gurkha light vehicles (GS 4X4 800 kg Soft Top) to the Indian Defence Forces. The order was awarded by Directorate General of Capb, Devp (CD-13/14) General Staff Branch, IHQ of MoD (Army), New Delhi. These vehicles are tailored to meet the diverse operational requirements of both the Indian Army and the Indian Air Force, showcasing Force Motors' capability to deliver mission-ready vehicles designed to perform in demanding defence environments, the company said in an exchange filing. Force Motors has been catering to the defence sector for many years through its Gurkha LSV (Light Strike Vehicle) , a vehicle renowned for its durability, off-road prowess, and adaptability. About Force Motors Founded in 1958, Force Motors began its journey with an aim to provide affordable, reliable, and efficient transportation to the masses. Today, it stands as a fully integrated automobile company, specialising in the engineering, development, and manufacture of vehicles, aggregates, and components. Force Motors is a versatile automotive company with the capability to cater to diverse international markets by offering customized, country-specific solutions. Its formidable product range spans light commercial vehicles and multi-utility vehicles, and its export presence extends to the Middle East and Gulf region, Asia, Latin America, and Africa. Mercedes-Benz and BMW assigned Force Motors the responsibility of producing and testing engines for all cars and SUVs manufactured in India. Every Mercedes-Benz vehicle made in India is powered by an engine produced at Force Motors in Chakan Pune. Force MTU Power Systems Pvt. Ltd. is a joint venture between Force Motors and Rolls-Royce Power Systems AG. The venture specialises in producing 10 and 12-cylinder Series 1600 engines, ranging from 545 hp to 1050 hp, at its manufacturing facility in Chakan, Pune. These engines are supplied globally for power generation and underfloor rail applications.