Force Motors Ltd · FORCEMOT
₹952 Cr
₹791 Cr
₹838 Cr
₹971 Cr
₹1.3K Cr
₹1.3K Cr
₹1.5K Cr
₹1.5K Cr
₹1.8K Cr
₹1.7K Cr
₹2.0K Cr
₹1.9K Cr
₹1.9K Cr
₹1.9K Cr
₹2.4K Cr
₹2.3K Cr
₹2.1K Cr
₹2.1K Cr
₹2.6K Cr
₹2.4K Cr
20-quarter listed-company comparison
Auto - Bus/LCVs Stocks in India
Auto - Bus/LCVs: Force Motors Ltd owns the largest revenue base; Olectra Greentech Ltd has the fastest current growth.
01 · the index people search for
Nifty Auto - Bus/LCVs Index — Constituents & Performance
The Auto - Bus/LCVs companies below are the listed Indian Auto - Bus/LCVs universe this page tracks — the same constituent set people search for as the Nifty Auto - Bus/LCVs index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.
02 · the sector itself · before any single company
How has Auto - Bus/LCVs moved against NIFTY 500?
The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 43% ahead of NIFTY 500. Earnings across its companies grew 20% on average over the last four reported quarters.
FADING · −1 in 4w✓Price and the fundamentals both up1 of 4 companies ahead of NIFTY 500 by 5% or more over three months
RS ↑1w · 3/4 >200d (+0) · 1/4 lead (−1) · EPS 4/4↑
Auto - Bus/LCVs, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Auto - Bus/LCVs, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Auto - Bus/LCVs, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 4 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
03 · sector relative strength, before individual stocks
Is Auto - Bus/LCVs outperforming NIFTY 500?
Auto - Bus/LCVs has outperformed NIFTY 500 by 15.8% over the last 52 weeks. Over 13 weeks the gap is a lead of 11.8%. 3 of 4 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. SML Mahindra Ltd is the strongest against the sector itself at +20.3%. Readings are as of 2026-07-19.
+11.8%Sector vs NIFTY 500 · 13 weeks
+15.8%Sector vs NIFTY 500 · 52 weeks
3/4Stocks leading NIFTY 500
1/4Stocks leading sector
Sector metric: 5.4 as of 2026-07-19 · CONSOLIDATION · falling.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
Auto - Bus/LCVs has outperformed NIFTY 500 by 15.8% over 52 weeks and 11.8% over 13 weeks. 3 of 4 covered companies beat NIFTY on Mansfield relative strength, while 1 of 4 beat the sector itself. Force Motors Ltd leads with revenue of ₹9,200 crore, based on 4 of 4 comparable companies through Jun 2026.
Companies
4
complete canonical membership
Combined market value
₹58.3K Cr
Force Motors Ltd
Revenue growing
4/4
positive TTM year-on-year growth
Beating NIFTY 500
3/4
positive Mansfield relative strength
Comparing 4 of 4
04 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Olectra Greentech Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 86.6% evidence confidence.
SML Mahindra Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Olectra Greentech LtdOLECTRA | 61.2/100Mixed-positive evidence87% evidence | TURNING | 29.2/35 Revenue 28.4% · PAT 27.9% · OPM change 3 pp 88% evidence | 18.8/25 ROCE 21% · OPM 15% 100% evidence | 7.1/20 P/E 61.2× · PEG 6.79 85% evidence | 6.1/20 RS sector -24.9% · RS bench 1.2% · 1Y -10.6%9 of 10 weeks ahead 70% evidence |
| Exact sum: 29.2 + 18.8 + 7.1 + 6.1 = 61.2 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -24.9% and the one-year return is -10.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 2JBM Auto LtdJBMA | 51.1/100Mixed-positive evidence72% evidence | FADING | 19.7/35 Revenue 12.4% · PAT 10.4% · OPM change 1 pp 95% evidence | 13.8/25 ROCE 14.8% · OPM 11% 76% evidence | 10.0/20 P/E 67.7× · PEG — 0% evidence | 7.6/20 RS sector -7.6% · RS bench 3.9% · 1Y 0%10 of 12 weeks ahead 100% evidence |
| Exact sum: 19.7 + 13.8 + 10 + 7.6 = 51.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3SML Mahindra LtdSMLMAH | 50.1/100Mixed-positive evidence81% evidence | TURNING | 11.1/35 Revenue 18.1% · PAT 9.8% · OPM change -2 pp 95% evidence | 15.2/25 ROCE 30.9% · OPM 10% 95% evidence | 6.8/20 P/E 52.6× · PEG 2.5 50% evidence | 17.0/20 RS sector 20.3% · RS bench 45.6% · 1Y 49.6%1 of 10 weeks ahead 70% evidence |
| Exact sum: 11.1 + 15.2 + 6.8 + 17 = 50.1 · Decision use: Price leads the evidence: RS versus the benchmark is 45.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 4Force Motors LtdFORCEMOT | 49.5/100Mixed-negative evidence97% evidence | ASLEEP | 21.0/35 Revenue 8.4% · PAT 45.5% · OPM change -1 pp 100% evidence | 17.1/25 ROCE 36.1% · OPM 13% 100% evidence | 11.4/20 P/E 21.4× · PEG 1.57 85% evidence | 0.0/20 RS sector -18.8% · RS bench -8.8% · 1Y 0.1%0 of 12 weeks ahead 100% evidence |
| Exact sum: 21 + 17.1 + 11.4 + 0 = 49.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
05 · what price has already done
Market action
SML Mahindra Ltd has the strongest one-year price move in Auto - Bus/LCVs at +49.6%. It also leads on Mansfield relative strength against NIFTY at +45.6%. 3 of 4 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.
Price and relative strength
Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.
How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.
The same measure taken against Auto - Bus/LCVs itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.
06 · compare level, then change
Revenue Scale & Growth Durability
Force Motors Ltd has the highest Revenue among the 4 Auto - Bus/LCVs companies compared here, at ₹9,200 crore. JBM Auto Ltd is next at ₹6,276 crore. Olectra Greentech Ltd has the highest Revenue growth at 28.4%, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Force Motors Ltd is the scale leader at ₹9,200 crore, 46.6% ahead of JBM Auto Ltd. Olectra Greentech Ltd's growth is 28.4% from a ₹2,313 crore base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderForce Motors Ltd · ₹9,200 crore
Gap46.6% versus #2 · JBM Auto Ltd
Persistence8/8 recent comparable periods
Coverage4/4 companies · 74 observations
Investor read: Force Motors Ltd is the scale benchmark; Olectra Greentech Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: Force Motors Ltd's growth falls below Olectra Greentech Ltd's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
Revenue growthfastest growers
Revenue · company comparison
4/4 level · 4/4 change
On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.
All-company data · latest reported quarter
In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| Force Motors Ltd FORCEMOT | ₹2.4K Cr | 6.2% | Jun 2026 |
| JBM Auto Ltd JBMA | ₹1.4K Cr | 15% | Jun 2026 |
| SML Mahindra Ltd SMLMAH | ₹958 Cr | 13% | Jun 2026 |
| Olectra Greentech Ltd OLECTRA | ₹645 Cr | 44% | Mar 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
JBM Auto Ltd · JBMA
—
—
—
—
—
₹953 Cr
₹1.0K Cr
₹946 Cr
₹1.2K Cr
₹1.3K Cr
₹1.5K Cr
₹1.1K Cr
₹1.3K Cr
₹1.4K Cr
₹1.6K Cr
₹1.3K Cr
₹1.4K Cr
₹1.6K Cr
₹1.9K Cr
₹1.4K Cr
Olectra Greentech Ltd · OLECTRA
₹71 Cr
₹208 Cr
₹271 Cr
₹281 Cr
₹177 Cr
₹256 Cr
₹376 Cr
₹216 Cr
₹307 Cr
₹342 Cr
₹289 Cr
₹314 Cr
₹524 Cr
₹515 Cr
₹449 Cr
₹347 Cr
₹657 Cr
₹664 Cr
₹645 Cr
—
SML Mahindra Ltd · SMLMAH
₹233 Cr
₹250 Cr
₹342 Cr
₹500 Cr
₹410 Cr
₹328 Cr
₹583 Cr
₹632 Cr
₹499 Cr
₹386 Cr
₹680 Cr
₹746 Cr
₹550 Cr
₹332 Cr
₹771 Cr
₹846 Cr
₹555 Cr
₹539 Cr
₹898 Cr
₹958 Cr
Revenue growth · reported quarter history
Force Motors Ltd · FORCEMOT
—
—
—
47%
33%
65%
78%
53%
43%
30%
35%
27%
7.7%
12%
17%
22%
7.2%
13%
8.2%
6.2%
JBM Auto Ltd · JBMA
—
—
—
—
—
—
—
—
—
41%
47%
21%
4.5%
3.7%
11%
9.6%
6.4%
16%
13%
15%
Olectra Greentech Ltd · OLECTRA
—
—
—
569%
149%
23%
39%
-23%
73%
34%
-23%
45%
71%
51%
55%
11%
25%
29%
44%
—
SML Mahindra Ltd · SMLMAH
—
—
—
—
76%
31%
70%
26%
22%
18%
17%
18%
10%
-14%
13%
13%
0.9%
62%
16%
13%
07 · compare level, then change
Operating Economics & Margin Trend
Olectra Greentech Ltd has the highest OPM among the 4 Auto - Bus/LCVs companies compared here, at 15%. Force Motors Ltd is next at 13%. The same company also holds the highest Margin change, at +3 percentage points. 4 of 4 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Olectra Greentech Ltd leads both opm at 15% and margin change at +3 percentage points.
LeaderOlectra Greentech Ltd · 15%
Gap15.4% versus #2 · Force Motors Ltd
Persistence3/8 recent comparable periods
Coverage4/4 companies · 79 observations
Investor read: Olectra Greentech Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
Margin changefastest expanders
Operating margin · company comparison
4/4 level · 4/4 change
All-company data · latest reported quarter
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Olectra Greentech Ltd OLECTRA | 15% | +3.0 pp | Mar 2026 |
| Force Motors Ltd FORCEMOT | 13% | −1.0 pp | Jun 2026 |
| JBM Auto Ltd JBMA | 11% | +1.0 pp | Jun 2026 |
| SML Mahindra Ltd SMLMAH | 10% | −2.0 pp | Jun 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Force Motors Ltd · FORCEMOT
4.2%
-1.8%
-0.4%
4.2%
7.8%
4.0%
8.0%
12%
12%
13%
14%
13%
14%
12%
14%
14%
17%
18%
16%
13%
JBM Auto Ltd · JBMA
10%
10%
11%
9.6%
9.7%
11%
11%
12%
11%
12%
12%
11%
12%
12%
11%
10%
11%
11%
12%
11%
Olectra Greentech Ltd · OLECTRA
21%
14%
12%
13%
11%
14%
13%
19%
13%
14%
12%
14%
16%
15%
12%
14%
14%
14%
15%
—
SML Mahindra Ltd · SMLMAH
-6.9%
-4.0%
0.7%
3.4%
1.4%
5.0%
7.0%
7.0%
8.0%
6.0%
10%
11%
8.0%
6.0%
12%
12%
8.0%
8.0%
10%
10%
Margin change · reported quarter history
Force Motors Ltd · FORCEMOT
−5.0 pp
−7.7 pp
+6.1 pp
−0.2 pp
+3.6 pp
+5.8 pp
+8.4 pp
+7.8 pp
+4.2 pp
+9.0 pp
+6.0 pp
+1.0 pp
+2.0 pp
−1.0 pp
0.0 pp
+1.0 pp
+3.0 pp
+6.0 pp
+2.0 pp
−1.0 pp
JBM Auto Ltd · JBMA
−1.1 pp
−0.8 pp
−0.4 pp
−0.5 pp
−0.7 pp
+0.7 pp
+0.2 pp
+2.4 pp
+1.3 pp
+1.0 pp
+1.0 pp
−1.0 pp
+1.0 pp
0.0 pp
−1.0 pp
−1.0 pp
−1.0 pp
−1.0 pp
+1.0 pp
+1.0 pp
Olectra Greentech Ltd · OLECTRA
+15.4 pp
+3.6 pp
−0.0 pp
−8.1 pp
−9.9 pp
+0.3 pp
+1.2 pp
+6.2 pp
+1.7 pp
0.0 pp
−1.0 pp
−5.0 pp
+3.0 pp
+1.0 pp
0.0 pp
0.0 pp
−2.0 pp
−1.0 pp
+3.0 pp
—
SML Mahindra Ltd · SMLMAH
+8.4 pp
+1.0 pp
+2.8 pp
+20.7 pp
+8.3 pp
+9.0 pp
+6.3 pp
+3.6 pp
+6.6 pp
+1.0 pp
+3.0 pp
+4.0 pp
0.0 pp
0.0 pp
+2.0 pp
+1.0 pp
0.0 pp
+2.0 pp
−2.0 pp
−2.0 pp
08 · compare level, then change
Profit Scale & Acceleration
Force Motors Ltd has the highest Net profit among the 4 Auto - Bus/LCVs companies compared here, at ₹1,253 crore. JBM Auto Ltd is next at ₹243 crore. The same company also holds the highest Profit growth, at 45.5%. 4 of 4 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Force Motors Ltd leads with ₹1,253 crore of TTM profit, 415.6% above JBM Auto Ltd. Force Motors Ltd shows 45.5% growth from a ₹1,253 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderForce Motors Ltd · ₹1,253 crore
Gap415.6% versus #2 · JBM Auto Ltd
Persistence7/8 recent comparable periods
Coverage4/4 companies · 74 observations
Investor read: Force Motors Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
Profit growthfastest growers
Net profit · company comparison
4/4 level · 4/4 change
All-company data · latest reported quarter
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| Force Motors Ltd FORCEMOT | ₹217 Cr | 23% | Jun 2026 |
| SML Mahindra Ltd SMLMAH | ₹64 Cr | -4.5% | Jun 2026 |
| Olectra Greentech Ltd OLECTRA | ₹57 Cr | 171% | Mar 2026 |
| JBM Auto Ltd JBMA | ₹44 Cr | 13% | Jun 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Force Motors Ltd · FORCEMOT
₹-1 Cr
₹-43 Cr
₹-43 Cr
₹-17 Cr
₹19 Cr
₹-16 Cr
₹147 Cr
₹69 Cr
₹94 Cr
₹85 Cr
₹140 Cr
₹116 Cr
₹135 Cr
₹115 Cr
₹435 Cr
₹176 Cr
₹351 Cr
₹406 Cr
₹279 Cr
₹217 Cr
JBM Auto Ltd · JBMA
—
—
—
—
—
₹35 Cr
₹28 Cr
₹30 Cr
₹49 Cr
₹52 Cr
₹62 Cr
₹34 Cr
₹53 Cr
₹56 Cr
₹72 Cr
₹39 Cr
₹55 Cr
₹60 Cr
₹84 Cr
₹44 Cr
Olectra Greentech Ltd · OLECTRA
₹4 Cr
₹13 Cr
₹18 Cr
₹17 Cr
₹7 Cr
₹15 Cr
₹28 Cr
₹18 Cr
₹19 Cr
₹27 Cr
₹15 Cr
₹24 Cr
₹48 Cr
₹47 Cr
₹21 Cr
₹26 Cr
₹49 Cr
₹47 Cr
₹57 Cr
—
SML Mahindra Ltd · SMLMAH
₹-29 Cr
₹-26 Cr
₹-11 Cr
₹2 Cr
₹-9 Cr
₹0 Cr
₹27 Cr
₹32 Cr
₹21 Cr
₹3 Cr
₹52 Cr
₹46 Cr
₹22 Cr
₹1 Cr
₹53 Cr
₹67 Cr
₹21 Cr
₹18 Cr
₹54 Cr
₹64 Cr
Profit growth · reported quarter history
Force Motors Ltd · FORCEMOT
—
—
—
—
—
—
—
—
395%
—
-4.8%
68%
44%
35%
211%
52%
160%
253%
-36%
23%
JBM Auto Ltd · JBMA
—
—
—
—
—
—
—
—
—
49%
121%
13%
8.2%
7.7%
16%
15%
3.8%
7.1%
17%
13%
Olectra Greentech Ltd · OLECTRA
—
—
—
1,600%
75%
15%
56%
5.9%
171%
80%
-46%
33%
153%
74%
40%
8.3%
2.1%
0.0%
171%
—
SML Mahindra Ltd · SMLMAH
—
—
—
—
—
—
—
1,500%
—
—
93%
44%
4.8%
-67%
1.9%
46%
-4.6%
1,700%
1.9%
-4.5%
09 · compare level, then change
Return On Capital Employed
Force Motors Ltd has the highest ROCE among the 4 Auto - Bus/LCVs companies compared here, at 36.1%. SML Mahindra Ltd is next at 30.9%. The same company also holds the highest ROCE change, at +1.8 percentage points. 4 of 4 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Force Motors Ltd leads ROCE at 36.1%, 5.2 percentage points above SML Mahindra Ltd. Force Motors Ltd has the strongest latest improvement at +1.8 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderForce Motors Ltd · 36.1%
Gap16.8% versus #2 · SML Mahindra Ltd
Persistence6/8 recent comparable periods
Coverage4/4 companies · 46 observations
Investor read: Force Motors Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
ROCE changefastest improvers
Return on capital · company comparison
4/4 level · 4/4 change
Withheld from this chart: JBM Auto Ltd (JBMA) — its two data sources disagree by up to 11% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
All-company data · latest reported quarter
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| SML Mahindra Ltd SMLMAH | 40% | −7.0 pp | Jun 2026 |
| Force Motors Ltd FORCEMOT | 27% | +1.8 pp | Jun 2026 |
| Olectra Greentech Ltd OLECTRA | 19% | +1.3 pp | Mar 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Force Motors Ltd · FORCEMOT
-1.7%
—
-4.0%
—
-3.2%
—
6.4%
—
17%
31%
24%
28%
27%
30%
25%
44%
26%
54%
27%
—
Olectra Greentech Ltd · OLECTRA
3.4%
—
6.1%
—
9.8%
—
12%
—
14%
18%
13%
17%
16%
23%
18%
22%
17%
21%
19%
—
SML Mahindra Ltd · SMLMAH
-35%
—
-38%
—
-12%
—
16%
—
32%
41%
33%
53%
39%
46%
35%
47%
37%
47%
37%
40%
ROCE change · reported quarter history
Force Motors Ltd · FORCEMOT
—
—
—
—
−1.5 pp
—
+10.4 pp
—
+20.0 pp
—
+17.6 pp
—
+10.0 pp
−0.9 pp
+0.8 pp
+15.9 pp
−1.0 pp
+23.5 pp
+1.8 pp
—
Olectra Greentech Ltd · OLECTRA
—
—
—
—
+6.4 pp
—
+6.0 pp
—
+4.5 pp
—
+1.2 pp
—
+1.8 pp
+4.6 pp
+4.8 pp
+5.0 pp
+0.8 pp
−1.2 pp
+1.3 pp
—
SML Mahindra Ltd · SMLMAH
—
—
—
—
+22.1 pp
—
+53.4 pp
—
+43.9 pp
—
+17.9 pp
—
+7.2 pp
+5.3 pp
+1.8 pp
−5.3 pp
−2.2 pp
+1.1 pp
+2.1 pp
−7.0 pp
10 · compare level, then change
Valuation Against Growth & Quality
Force Motors Ltd has the lowest PEG among the 4 Auto - Bus/LCVs companies compared here, at 1.57×. SML Mahindra Ltd is next at 2.5×. The same company also holds the lowest P/E, at 21.4×. 3 of 4 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Force Motors Ltd has the lowest comparable PEG at 1.57×, 37.2% below SML Mahindra Ltd. Only 3 of 4 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderForce Motors Ltd · 1.57×
Gap37.2% versus #2 · SML Mahindra Ltd
Persistence0/8 recent comparable periods
Coverage3/4 companies · 15 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.
PEGlowest PEG
P/Elowest P/E
Valuation · company comparison
3/4 level · 4/4 change
All-company data · latest reported quarter
| Company | PEG | P/E | Reported |
|---|---|---|---|
| Olectra Greentech Ltd OLECTRA | 6.8 | 58.9 | Mar 2026 |
| SML Mahindra Ltd SMLMAH | 2.5 | 37.1 | Jun 2026 |
| Force Motors Ltd FORCEMOT | 1.6 | 22.9 | Jun 2026 |
| JBM Auto Ltd JBMA | — | 73.0 | Jun 2026 |
Full 20-quarter history · every available company
PEG · reported quarter history
Force Motors Ltd · FORCEMOT
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
0.9
1.6
—
—
—
Olectra Greentech Ltd · OLECTRA
—
—
—
—
—
5.5
—
14.5
5.2
—
2.9
5.8
6.9
2.3
1.6
—
—
2.6
6.8
—
SML Mahindra Ltd · SMLMAH
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
0.6
2.0
2.5
—
—
P/E · reported quarter history
Force Motors Ltd · FORCEMOT
—
—
—
—
-19.8
—
11.5
117.5
45.4
25.7
33.3
30.5
23.1
18.2
25.0
49.1
41.6
44.2
28.0
22.9
JBM Auto Ltd · JBMA
27.7
57.7
52.1
32.1
26.6
33.8
41.9
127.1
126.1
126.4
141.2
135.7
117.8
99.0
73.2
75.2
79.0
70.7
59.7
73.0
Olectra Greentech Ltd · OLECTRA
237.7
341.0
178.1
134.2
92.1
74.3
90.1
121.7
147.0
142.5
172.0
190.1
162.3
104.3
72.8
68.8
90.5
71.1
58.9
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SML Mahindra Ltd · SMLMAH
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—
—
-13.0
—
—
53.8
81.6
34.6
24.1
33.5
28.1
21.6
17.1
18.7
24.2
32.4
37.1
36.3
37.1
11 · before the conclusion, check the blind spots
What can make this comparison misleading?
This Auto - Bus/LCVs comparison names 5 specific ways its own evidence can mislead, all listed below. All 4 companies here report on comparable dates, so no rank carries a stale marker. 1 has second-feed figures withheld because the two sources disagree. A high growth rate can still be a low-base artefact.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
12 · evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 4 Auto - Bus/LCVs companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-31. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-31 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing3 cross-checked · 0 unverified · 1 withheld, of 4 graded companies.
How a second data feed is admitted, and what happens when it disagrees
A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.
13 · questions investors ask, short speakable answers
Auto - Bus/LCVs company comparison FAQs
These 23 answers restate the Auto - Bus/LCVs comparison above in question form. Every one is computed from the same 4 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.
Is the Auto - Bus/LCVs sector outperforming NIFTY 500?
Auto - Bus/LCVs has outperformed NIFTY 500 by 15.8% over 52 weeks and 11.8% over 13 weeks. 3 of 4 covered companies beat NIFTY on Mansfield relative strength, while 1 of 4 beat the sector itself.
Which Auto - Bus/LCVs company is largest by revenue?
Force Motors Ltd leads with revenue of ₹9,200 crore, based on 4 of 4 comparable companies through Jun 2026.
Which Auto - Bus/LCVs company is growing fastest?
Olectra Greentech Ltd has the fastest current revenue growth at 28.4%, across 4 of 4 comparable companies.
Which Auto - Bus/LCVs company has the strongest 4-Factor Sector Score?
Olectra Greentech Ltd ranks first at 61.2/100 with 86.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Auto - Bus/LCVs company has the lowest comparable PEG?
Force Motors Ltd has the lowest comparable PEG at 1.57, among 3 of 4 companies whose earnings and growth are steady enough for the ratio to mean anything.
How much history does this Auto - Bus/LCVs comparison include?
The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
What is the Nifty Auto - Bus/LCVs index?
The Nifty Auto - Bus/LCVs index tracks India's listed Auto - Bus/LCVs companies as a single basket. This page follows the same 4 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Auto - Bus/LCVs sector rather than to its largest constituent. Figures are as of Jun 2026.
Which are the best Auto - Bus/LCVs stocks in India?
Ranked by this page's four-factor score, Olectra Greentech Ltd places first among 4 listed Auto - Bus/LCVs companies, followed by JBM Auto Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Auto - Bus/LCVs stocks are listed in India?
This comparison covers 4 listed Auto - Bus/LCVs companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.
Which Auto - Bus/LCVs company is the biggest?
Force Motors Ltd is the largest, with trailing-twelve-month revenue of ₹9,200 crore, ahead of JBM Auto Ltd at ₹6,276 crore. That covers 4 of 4 companies with comparable reporting through Jun 2026.
Which Auto - Bus/LCVs company has the best profit margins?
Olectra Greentech Ltd has the highest operating margin at 15%, from 4 of 4 comparable companies. Olectra Greentech Ltd shows the biggest recent improvement, at +3 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Auto - Bus/LCVs company makes the most profit?
Force Motors Ltd earns the most, at ₹1,253 crore of trailing-twelve-month net profit, from 4 of 4 comparable companies. Force Motors Ltd has the fastest profit growth at 45.5%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Auto - Bus/LCVs company earns the highest return on capital?
Force Motors Ltd leads on return on capital employed at 36.1%, across 4 of 4 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Auto - Bus/LCVs stock is the cheapest?
On PEG — where a LOWER number is cheaper — Force Motors Ltd screens cheapest at 1.57×. Only 3 of 4 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Is the Auto - Bus/LCVs sector beating the market?
Auto - Bus/LCVs has outperformed NIFTY 500 by 15.8% over the last 52 weeks and 11.8% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 3 of 4 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.
Which Auto - Bus/LCVs stock has the strongest price momentum?
SML Mahindra Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Auto - Bus/LCVs company scores highest for research priority?
Olectra Greentech Ltd scores 61.2 out of 100 with 86.6% evidence confidence, from 29.2 points on growth and earnings, 18.8 on capital efficiency, 7.1 on valuation and 6.1 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Auto - Bus/LCVs companies does this comparison cover, and over what period?
It compares 4 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Auto - Bus/LCVs sector?
The 4 Auto - Bus/LCVs companies on this page carry ₹58,254 crore of combined market value. Force Motors Ltd is the largest at ₹23,588 crore, about 40% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.
How is the Auto - Bus/LCVs sector performing?
3 of the 4 covered Auto - Bus/LCVs companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 15.8% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.