Business: Market regulator Securities and Exchange Board of India has asked Pune-based automaker Force Motors Limited to provide details about the company’s earnings for the December quarter and April-December 2023-24, the report of which was reported by the company on February 12, 2024. SEBI has also sought details about stock price movement between February 12 and February 20, 2024.
On March 5, shares of Force Motors closed 1.7% higher at Rs 21,815 per share.
According to the regulatory filing, the company received an email from SEBI on March 4, 2026.
“SEBI has sought information in respect of the announcement made by the company on October 29, 2024 for the unaudited financial results (standalone and consolidated) for the quarter and half year ended September 30, 2024,” the firm said. SEBI has sought further information, including chronology of incidents, details of insiders, MIS details, designated persons, and an extract of a structured digital database from the inception of the incident till the time the information was published or made public.
The company clarified that there has been no significant impact on its financial operations at this stage. It also said that the authority had found no irregularities or non-compliances, and no penalties, debarments, or sanctions had been imposed in accordance with the communication.
Force Motors said it will file a correct reply to SEBI within the stipulated timeline.
Last month, Force Motors Ltd. reported a sharp year-on-year jump in profit for the third quarter, supported by strong operating performance and one-time gains. Consolidated net profit for Q3 stood at Rs 406.1 crore, compared to Rs 115.3 crore in the same quarter last year. Revenue from operations grew 12.6% year-on-year to Rs 2,128 crore from Rs 1,889.5 crore a year ago, while EBITDA rose 61.4% to Rs 373.8 crore from Rs 231.6 crore a year ago.
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