FORCE MOTORS LTD — Credit Ratings, 26-07-2025: Credit Rating

CRISIL has reaffirmed Force Motors' (FML) long-term rating at 'CRISIL AA+/Stable' and short-term at 'CRISIL A1+'. This reflects FML's strong operational performance, with fiscal 2025 revenue up 15% to Rs 8,092 Cr and operating profit at Rs 1,113 Cr. A key highlight is the drastic reduction in total debt to just Rs 17 Cr by March 2025, becoming debt-free in Q1 FY26, which significantly bolsters its financial profile and liquidity. The company's healthy cash generation and strong parent backing from JHIPL with over Rs 31,000 Cr in marketable securities reinforce its financial flexibility. This reaffirmed rating boosts investor confidence and offers FML ample strategic room to fund future growth without increasing borrowing costs.