3 Exhaust Systems, Utility Vehicles and Decorative Auto Parts Stocks With a Strong Future Roadmap: Sharda Motor Industries, Force Motors and SJS Enterprises
- October 21, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
Sharda Motor Industries, Force Motors and SJS Enterprises: ROE of 19.7% to 26.3% and FY22 to FY26 revenue CAGR of 11.1% to 29.2%. Prices as of 20 Oct 2026.
Quick Answer
The three auto sector stocks to watch are Sharda Motor Industries, Force Motors and SJS Enterprises. Their return on equity ranges from 19.7% to 26.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.1% to 29.2%. Sharda Motor Industries has the highest return on equity at 26.3%, while Force Motors has the fastest revenue growth at 29.2% a year. Prices are based on the 20 October 2026 close, and this article is educational, not investment advice.
Auto sector stocks give investors a way to follow vehicle demand from both the maker and the supplier side. Sharda Motor Industries, Force Motors and SJS Enterprises cover exhaust systems, utility and commercial vehicles, and decorative aesthetic parts for vehicles.
This list covers three auto sector stocks with complete current figures: Sharda Motor Industries, Force Motors and SJS Enterprises. Every figure comes from the latest reported financials and the 20 October 2026 market close. Companies without complete current figures were left out.
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What Are Auto Sector Stocks?
Auto sector stocks are listed companies that build vehicles or supply parts and finishes to those that do. Their earnings depend on vehicle production, content per vehicle and the share of business with leading makers.
Auto Sector Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Sharda Motor Industries | 868.1 | 4,995 | 15.0 | 36.9 | 26.3 | 0.04 |
| Force Motors | 17,563 | 23,296 | 18.6 | 24.1 | 25.2 | 0.00 |
| SJS Enterprises | 2,003.9 | 6,459 | 30.5 | 36.9 | 19.7 | 0.03 |
On valuation, all three trade at a P/E below their industry P/E, which means the market is pricing them at a lower multiple than their peer group. Readers comparing auto sector stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Auto Sector Stocks Have a Strong Roadmap in India?
Auto sector stocks have a strong roadmap in India because vehicle output is growing, buyers want better features and makers are sourcing from local suppliers.
- Rising content. Premium finishes, emission systems and features raise the value of parts per vehicle.
- Local sourcing. Vehicle makers prefer dependable Indian suppliers.
- Utility vehicle demand. Commercial and utility vehicles serve passenger, defence and institutional buyers.
Why Sharda Motor Industries Features Among These Auto Sector Stocks
Among the auto sector stocks on this list, Sharda Motor Industries makes exhaust systems and catalytic converters, with large passenger vehicle makers among its main customers.
In the June 2026 quarter, revenue grew 33.2% year on year to Rs 1,038 crore. Revenue rose from Rs 2,285 crore in FY22 to Rs 3,483 crore in FY26, a compound annual growth rate of 11.1%.
Net profit grew from Rs 149 crore in FY22 to Rs 345 crore in FY26, which works out to a compound annual growth rate of 23.3%. The company has a return on equity of 26.3%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 4,995 crore. The stock trades at a P/E of 15.0, below the industry P/E of 36.9.
Roadmap: Tighter emission norms increase the content per vehicle for exhaust systems and catalysts. The company is adding capacity in line with its customers’ production plans and expanding into new product lines, which broadens its revenue base.
What to watch: Follow volume trends at its key customers and precious metal price movements.
Why Force Motors Features Among These Auto Sector Stocks
Among the auto sector shares on this list, Force Motors, based in Pune, makes light commercial vehicles such as the Traveller and Gurkha, and supplies engines and axles to global carmakers.
The company has a return on equity of 25.2%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 23,296 crore. The stock trades at a P/E of 18.6, below the industry P/E of 24.1.
Revenue rose from Rs 3,292 crore in FY22 to Rs 9,168 crore in FY26, a compound annual growth rate of 29.2%. Net profit grew from Rs 801 crore in FY25 to Rs 1,212 crore in FY26, a rise of 51.3%. In the June 2026 quarter, revenue grew 6.7% year on year to Rs 2,478 crore, while net profit rose 22.8% to Rs 217 crore.
Roadmap: Its traveller and ambulance range, defence vehicle supply and contract manufacturing for international partners give it several growth routes. It has no debt on its books, which leaves room for investment in new models.
What to watch: Track order flow from state transport and defence customers.
Why SJS Enterprises Features Among These Auto Sector Stocks
Among the three companies on this list, SJS Enterprises makes decorative aesthetic parts such as lenses, badges, decals and appliqués for vehicles, along with products for consumer durables.
Revenue rose from Rs 374 crore in FY22 to Rs 973 crore in FY26, a compound annual growth rate of 27.0%. Net profit grew from Rs 55.0 crore in FY22 to Rs 172 crore in FY26, which works out to a compound annual growth rate of 32.9%.
In the June 2026 quarter, revenue grew 25.3% year on year to Rs 266 crore, while net profit rose 115.0% to Rs 74.4 crore. The company has a return on equity of 19.7%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 6,459 crore. The stock trades at a P/E of 30.5, below the industry P/E of 36.9.
Roadmap: Premium finishes, electric vehicle styling and a rising number of parts per vehicle widen its addressable market. The company has also acquired overseas and domestic businesses, which deepen its product range and customer mix.
What to watch: Follow how newly acquired units are integrated and how premium finishes contribute to the mix.
Sharda Motor Industries vs Force Motors vs SJS Enterprises on Key Financials
The table below sets the three auto sector stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Sharda Motor Industries | 2,285 | 3,483 | 11.1% | 345 | 9.9% |
| Force Motors | 3,292 | 9,168 | 29.2% | 1,212 | 13.2% |
| SJS Enterprises | 374 | 973 | 27.0% | 172 | 17.7% |
Sharda Motor Industries posts the highest return on equity in this group at 26.3%. Force Motors combines the largest FY26 revenue at Rs 9,168 crore with the fastest revenue growth, a 29.2% compound annual rate. A useful habit with auto sector stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Sharda Motor Industries | 779 | 1,038 | 33.2% |
| Force Motors | 2,322 | 2,478 | 6.7% |
| SJS Enterprises | 212 | 266 | 25.3% |
Key Risks to Check Before Investing in Auto Sector Stocks
Every theme carries risks that deserve a check before any decision. For these auto sector stocks, the main points are: Long-term auto sector shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Vehicle cycles. Demand follows vehicle sales, which can be uneven.
- Customer concentration. A few makers account for a large share of orders.
- Commodity costs. Steel and other inputs influence margins.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter auto sector stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Auto Sector Stocks
Auto sector stocks reward investors who study customer mix and product pipelines. Sharda Motor Industries, Force Motors and SJS Enterprises each take a different route to growth in the same industry. Based on the 20 October 2026 close, Sharda Motor Industries trades at Rs 868.1, Force Motors at Rs 17,563 and SJS Enterprises at Rs 2,003.9.
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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).
What are auto sector stocks?
Ans. Auto sector stocks are listed companies that build vehicles or supply parts and finishes to those that do. Their earnings depend on vehicle production, content per vehicle and the share of business with leading makers. This list looks at three of them, Sharda Motor Industries, Force Motors and SJS Enterprises, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.
Which auto sector stocks are covered in this list?
Ans. This list covers Sharda Motor Industries, Force Motors and SJS Enterprises. Based on the 20 October 2026 close, Sharda Motor Industries traded at Rs 868.1, Force Motors at Rs 17,563 and SJS Enterprises at Rs 2,003.9. Their return on equity ranges from 19.7% to 26.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.1% to 29.2%.
Why do auto sector stocks have a strong future roadmap in India?
Ans. Auto sector stocks have a strong roadmap in India because vehicle output is growing, buyers want better features and makers are sourcing from local suppliers. The main drivers are as follows. Rising content. Premium finishes, emission systems and features raise the value of parts per vehicle. Local sourcing. Vehicle makers prefer dependable Indian suppliers. Utility vehicle demand. Commercial and utility vehicles serve passenger, defence and institutional buyers. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Sharda Motor Industries performed financially?
Ans. Revenue rose from Rs 2,285 crore in FY22 to Rs 3,483 crore in FY26, a compound annual growth rate of 11.1%. Net profit grew from Rs 149 crore in FY22 to Rs 345 crore in FY26, which works out to a compound annual growth rate of 23.3%. In the June 2026 quarter, revenue grew 33.2% year on year to Rs 1,038 crore. The company has a return on equity of 26.3%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 4,995 crore. The stock trades at a P/E of 15.0, below the industry P/E of 36.9. Looking ahead, tighter emission norms increase the content per vehicle for exhaust systems and catalysts. The company is adding capacity in line with its customers’ production plans and expanding into new product lines, which broadens its revenue base.
How has Force Motors performed financially?
Ans. Revenue rose from Rs 3,292 crore in FY22 to Rs 9,168 crore in FY26, a compound annual growth rate of 29.2%. Net profit grew from Rs 801 crore in FY25 to Rs 1,212 crore in FY26, a rise of 51.3%. In the June 2026 quarter, revenue grew 6.7% year on year to Rs 2,478 crore, while net profit rose 22.8% to Rs 217 crore. The company has a return on equity of 25.2%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 23,296 crore. The stock trades at a P/E of 18.6, below the industry P/E of 24.1. Looking ahead, its traveller and ambulance range, defence vehicle supply and contract manufacturing for international partners give it several growth routes. It has no debt on its books, which leaves room for investment in new models.
How has SJS Enterprises performed financially?
Ans. Revenue rose from Rs 374 crore in FY22 to Rs 973 crore in FY26, a compound annual growth rate of 27.0%. Net profit grew from Rs 55.0 crore in FY22 to Rs 172 crore in FY26, which works out to a compound annual growth rate of 32.9%. In the June 2026 quarter, revenue grew 25.3% year on year to Rs 266 crore, while net profit rose 115.0% to Rs 74.4 crore. The company has a return on equity of 19.7%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 6,459 crore. The stock trades at a P/E of 30.5, below the industry P/E of 36.9. Looking ahead, premium finishes, electric vehicle styling and a rising number of parts per vehicle widen its addressable market. The company has also acquired overseas and domestic businesses, which deepen its product range and customer mix.
What risks should investors check before buying auto sector stocks?
Ans. Investors should check a few risks before buying auto sector stocks. Vehicle cycles. Demand follows vehicle sales, which can be uneven. Customer concentration. A few makers account for a large share of orders. Commodity costs. Steel and other inputs influence margins. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of auto sector stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 20 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
