Force Motors Q4: Core Growth Strong, Reported Profit Impacted

Key Highlights • Net Profit: ₹278.54 Cr (↓35.9% YoY, ↓31.4% QoQ) • Revenue: ₹2,549.84 Cr (↑8.2% YoY, ↑19.8% QoQ) • EBITDA: ₹414.34 Cr (↑25.9% YoY, ↑10.8% QoQ) • EBITDA Margin: 16.3% (vs 14.0% YoY, 17.6% QoQ) Adjusted Performance • Profit impacted due to last year’s exceptional item • Profit Before Exceptional Item: ₹373 Cr (↑39% YoY) Shareholder Return • Dividend: ₹50 per share What Stands Out • Strong operational performance with EBITDA growth and margin improvement YoY • Healthy revenue growth, especially sequentially • Reported profit decline due to base effect (exceptional item) Why It Matters Underlying business performance remains strong despite headline profit decline, indicating improving operational strength. Learning Outcome Always adjust for exceptional items while analyzing results—core profitability gives the real picture of business performance.