Force Motors vs SML Isuzu: Share Price, PE, ROE Compared
- August 12, 2026
- Posted by: Kunal Singla
- Category: Market
Force Motors MCap Rs 24,022 Cr, PE 19.19x, ROE 25.19%, zero debt. SML Isuzu MCap Rs 7,552 Cr, PE 48.28x, ROE 30.76% (excellent!), D/E 0.56.
Force Motors vs SML Isuzu is a comparison commercial vehicle investors look up when evaluating two listed Indian niche vehicle manufacturers. Force Motors, a Pune-based company (Firodia family), makes light commercial vehicles (Traveller buses, Gurkha 4×4), tractors and agricultural equipment – it also manufactures axles and gearboxes for Mercedes-Benz (India). SML Isuzu, a Chandigarh-based company (joint venture between Sumitomo and Isuzu Motors Japan), makes buses, trucks and light commercial vehicles under the Swaraj Mazda brand. Force Motors versus SML Isuzu is a direct comparison in the niche commercial vehicle segment.
This Force Motors vs SML Isuzu article covers reach and market position, key products, latest declared results and stock valuation. All data is sourced from Groww and public company filings.
Reach and Market Position
In this Force Motors vs SML Isuzu comparison, Force Motors sells Force Traveller (minibuses), Urbania (premium buses), Gurkha (4×4 off-road) and Force Trax in India, plus manufactures BMW and Mercedes-Benz automotive components. Market capitalisation is Rs 24,022 Cr.
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SML Isuzu sells Swaraj Mazda and Isuzu trucks and buses across India, primarily for passenger transport operators, government agencies and small transport businesses. Market capitalisation is Rs 7,552 Cr.
Key Products and Business Mix
For the Force Motors vs SML Isuzu product breakdown, Force Motors: Force Motors earns from LCV and bus sales, component manufacturing (for BMW, Benz). EPS is Rs 950.18 (high absolute EPS). PE is 19.19x (affordable), ROE 25.19 percent, zero debt, Div 0.27 percent.
SML Isuzu: SML Isuzu earns from bus, truck and LCV sales. EPS is Rs 108.09. PE is 48.28x (expensive), ROE 30.76 percent (excellent!), D/E 0.56.
Latest Results and Financial Data
On the Force Motors vs SML Isuzu results front: Force Motors has a market cap of Rs 24,022 Cr and PE of 19.19x. ROE is 25.19 percent with zero debt. Force Motors is 3.2 times larger than SML Isuzu.
SML Isuzu has a market cap of Rs 7,552 Cr and PE of 48.28x. ROE is 30.76 percent – higher than Force Motors. SML Isuzu is expensive on PE but highly capital-efficient.
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Stock Performance and Valuation
Investors tracking the Force Motors vs SML Isuzu comparison should verify current prices on NSE or BSE before trading. The Force Motors vs SML Isuzu stock data below reflects the latest available figures from Groww and public company filings.
Force Motors versus SML Isuzu: Force (PE 19.19x, ROE 25.19%, zero debt) vs SML Isuzu (PE 48.28x, ROE 30.76%). In the Force Motors and SML Isuzu comparison, Force is cheaper on PE with near-equal ROE and zero debt. SML has a slight ROE edge but is much more expensive.
Force Motors vs SML Isuzu: Quick Comparison Table
The comparison table below summarises the key metrics side by side.
| Parameter | Force Motors | SML Isuzu |
|---|---|---|
| Sector | LCV + buses: Traveller + Urbania + Gurkha + BMW/Benz components (Pune) | Buses + trucks: Swaraj Mazda + Isuzu LCV (Sumitomo + Isuzu JV, Chandigarh) |
| Market Cap | Rs 24,022 Cr | Rs 7,552 Cr |
| P/E Ratio | 19.19x (affordable) | 48.28x (expensive) |
| ROE | 25.19% | 30.76% (higher!) |
| Debt to Equity | 0.00 (zero debt!) | 0.56 |
| Component Export | Yes (BMW + Mercedes-Benz components) | No |
| Dividend Yield | 0.27% | 0.45% |
Conclusion
The Force Motors vs SML Isuzu comparison above covers reach, products, results and valuation. Force Motors versus SML Isuzu covers two niche Indian commercial vehicle makers. Force Motors is the larger, cheaper-PE company with zero debt and significant revenue from BMW/Benz component manufacturing. SML Isuzu has a higher ROE from its focused bus and truck operations but trades at a much higher PE. The Force Motors and SML Isuzu comparison gives Force Motors the edge on value. Consult a SEBI-registered advisor for personalised guidance.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What does Force Motors make?
Ans. Force Motors makes Force Traveller (minibus for 12-26 passengers), Force Urbania (premium buses), Gurkha (4×4 off-road SUV) and Force Trax (utility vehicle). It also manufactures axles and gearboxes for BMW 3-series and Mercedes-Benz GLE.
What does SML Isuzu make?
Ans. SML Isuzu makes commercial vehicles under the Swaraj Mazda brand – including light trucks, minibuses, school buses and public transport buses in 7-35 seater configurations using Isuzu engines.
Does Force Motors manufacture for BMW?
Ans. Yes. Force Motors manufactures automotive components (axles, gearboxes) for BMW and Mercedes-Benz at its Pune facilities – this B2B component business provides stable revenue.
Which is larger, Force or SML Isuzu?
Ans. Force Motors at Rs 24,022 Cr is approximately 3.2 times larger than SML Isuzu at Rs 7,552 Cr.
What is Swaraj Mazda?
Ans. Swaraj Mazda is the brand used by SML Isuzu for its commercial vehicles in India. The company is a joint venture between Sumitomo Corporation (Japan) and Isuzu Motors (Japan).
Does Force Motors have debt?
Ans. No. Force Motors has zero debt – a financially clean position for a vehicle manufacturer.
Are Force and SML Isuzu in Nifty 50?
Ans. Neither is in Nifty 50.
