3 Light Commercial Vehicle and Utility Maker, Leading Motorcycle and Scooter Maker and Passenger Car Manufacturer Stocks With a Strong Future Roadmap: Force Motors, Hero MotoCorp and Hyundai Motor India
- October 28, 2026
- Posted by: Lakshit Sharma
- Category: Best Stocks
Force Motors, Hero MotoCorp and Hyundai Motor India: ROE of 25.2% to 27.1% and FY22 to FY26 revenue CAGR of 10.6% to 29.2%. Prices as of 27 Oct 2026.
Quick Answer
The three van, scooter and SUV maker stocks to watch are Force Motors, Hero MotoCorp and Hyundai Motor India. Their return on equity ranges from 25.2% to 27.1%, and their revenue compound annual growth from FY22 to FY26 ranges from 10.6% to 29.2%. Hyundai Motor India has the highest return on equity at 27.1%, while Force Motors has the fastest revenue growth at 29.2% a year. Prices are based on the 27 October 2026 close, and this article is educational, not investment advice.
Van, scooter and SUV maker stocks offer a focused view of a sector where demand keeps widening. Force Motors, Hero MotoCorp and Hyundai Motor India cover a light commercial vehicle and utility maker, a leading motorcycle and scooter maker and a passenger car manufacturer.
This list covers three van, scooter and SUV maker stocks with complete current figures: Force Motors, Hero MotoCorp and Hyundai Motor India. Every figure comes from the latest reported financials and the 27 October 2026 market close. Companies without complete current figures were left out.
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What Are Van, Scooter and SUV Maker Stocks?
Van, scooter and SUV maker stocks are listed vehicle makers that build vans, utility vehicles, motorcycles, scooters and passenger cars for Indian and export markets. Their earnings depend on vehicle demand, new launches, commodity costs and export conditions.
Van, Scooter and SUV Maker Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Force Motors | 17,375 | 23,296 | 18.6 | 24.1 | 25.2 | 0.00 |
| Hero MotoCorp | 5,218.5 | 100,778 | 18.4 | 23.4 | 26.6 | 0.04 |
| Hyundai Motor India | 1,861.3 | 150,645 | 30.4 | 23.4 | 27.1 | 0.05 |
On valuation, Force Motors and Hero MotoCorp trade at a P/E below the industry P/E, while Hyundai Motor India trades above it, which reflects the growth the market already expects. Readers comparing van, scooter and SUV maker stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Van, Scooter and SUV Maker Stocks Have a Strong Roadmap in India?
Van, scooter and SUV maker stocks have a strong roadmap in India because rising incomes, growing demand for utility vehicles and vans and expanding exports and electric models keep widening the market for Indian vehicle makers.
- Vehicle demand. Rising incomes lift bike and car sales.
- New launches. Fresh models refresh the range.
- Exports and EVs. Overseas sales and electric models add growth.
Why Force Motors Features Among These Van, Scooter and SUV Maker Stocks
Among the van, scooter and SUV maker stocks 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 Hero MotoCorp Features Among These Van, Scooter and SUV Maker Stocks
Among the bike, van and car company shares on this list, Hero MotoCorp is one of the world’s largest two-wheeler makers by volume, selling motorcycles and scooters across India through a vast network of dealers and service points, and it also exports to several markets.
Revenue rose from Rs 30,106 crore in FY22 to Rs 48,469 crore in FY26, a compound annual growth rate of 12.6%. Net profit grew from Rs 2,329 crore in FY22 to Rs 5,776 crore in FY26, which works out to a compound annual growth rate of 25.5%.
In the June 2026 quarter, revenue grew 35.4% year on year to Rs 13,586 crore. The company has a return on equity of 26.6%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 100,778 crore. The stock trades at a P/E of 18.4, below the industry P/E of 23.4.
Roadmap: The company is widening its premium motorcycle range, building an electric vehicle presence and growing its exports. Its large rural and semi-urban reach supports demand when household spending improves.
What to watch: Track monthly volumes, premium mix, electric vehicle progress and rural demand.
Why Hyundai Motor India Features Among These Van, Scooter and SUV Maker Stocks
Among the three companies on this list, Hyundai Motor India is the country’s second largest passenger vehicle maker by volume, selling hatchbacks, sedans and sport utility vehicles from its plant near Chennai and a new facility in Pune.
Revenue rose from Rs 47,966 crore in FY22 to Rs 71,752 crore in FY26, a compound annual growth rate of 10.6%. Net profit grew from Rs 2,902 crore in FY22 to Rs 5,432 crore in FY26, which works out to a compound annual growth rate of 17.0%.
The company has a return on equity of 27.1%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 150,645 crore. The stock trades at a P/E of 30.4, above the industry P/E of 23.4.
Roadmap: A strong sport utility vehicle line-up, a growing exports business and new capacity at the Pune plant add to volumes. The company is also working on electric models and hybrid options for the Indian market.
What to watch: Follow monthly sales, new model launches and the ramp-up of the Pune plant.
Force Motors vs Hero MotoCorp vs Hyundai Motor India on Key Financials
The table below sets the three van, scooter and SUV maker 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 |
|---|---|---|---|---|---|
| Force Motors | 3,292 | 9,168 | 29.2% | 1,212 | 13.2% |
| Hero MotoCorp | 30,106 | 48,469 | 12.6% | 5,776 | 11.9% |
| Hyundai Motor India | 47,966 | 71,752 | 10.6% | 5,432 | 7.6% |
Hyundai Motor India posts the highest return on equity in this group at 27.1%. Hyundai Motor India has the largest FY26 revenue at Rs 71,752 crore, and Force Motors shows the fastest revenue growth with a 29.2% compound annual rate. A useful habit with van, scooter and SUV maker stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Van, Scooter and SUV Maker Stocks
Every theme carries risks that deserve a check before any decision. For these van, scooter and SUV maker stocks, the main points are: Long-term bike, van and car company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Demand cycles. Sales can vary with seasons and rates.
- Input costs. Metal and material prices can move margins.
- Competition. Rivals can influence pricing and market share.
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 van, scooter and SUV maker stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Van, Scooter and SUV Maker Stocks
Van, scooter and SUV maker stocks reward patient research into demand, execution and financial strength. Force Motors, Hero MotoCorp and Hyundai Motor India each have a clear plan to expand. Based on the 27 October 2026 close, Force Motors trades at Rs 17,375, Hero MotoCorp at Rs 5,218.5 and Hyundai Motor India at Rs 1,861.3.
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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 van, scooter and SUV maker stocks?
Ans. Van, scooter and SUV maker stocks are listed vehicle makers that build vans, utility vehicles, motorcycles, scooters and passenger cars for Indian and export markets. Their earnings depend on vehicle demand, new launches, commodity costs and export conditions. This list looks at three of them, Force Motors, Hero MotoCorp and Hyundai Motor India, using reported FY22 to FY26 financials and the 27 October 2026 closing prices.
Which van, scooter and SUV maker stocks are covered in this list?
Ans. This list covers Force Motors, Hero MotoCorp and Hyundai Motor India. Based on the 27 October 2026 close, Force Motors traded at Rs 17,375, Hero MotoCorp at Rs 5,218.5 and Hyundai Motor India at Rs 1,861.3. Their return on equity ranges from 25.2% to 27.1%, and their revenue compound annual growth from FY22 to FY26 ranges from 10.6% to 29.2%.
Why do van, scooter and SUV maker stocks have a strong future roadmap in India?
Ans. Van, scooter and SUV maker stocks have a strong roadmap in India because rising incomes, growing demand for utility vehicles and vans and expanding exports and electric models keep widening the market for Indian vehicle makers. The main drivers are as follows. Vehicle demand. Rising incomes lift bike and car sales. New launches. Fresh models refresh the range. Exports and EVs. Overseas sales and electric models add growth. Together these factors give the companies on this list a visible path for growth over the coming years.
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 Hero MotoCorp performed financially?
Ans. Revenue rose from Rs 30,106 crore in FY22 to Rs 48,469 crore in FY26, a compound annual growth rate of 12.6%. Net profit grew from Rs 2,329 crore in FY22 to Rs 5,776 crore in FY26, which works out to a compound annual growth rate of 25.5%. In the June 2026 quarter, revenue grew 35.4% year on year to Rs 13,586 crore. The company has a return on equity of 26.6%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 100,778 crore. The stock trades at a P/E of 18.4, below the industry P/E of 23.4. Looking ahead, the company is widening its premium motorcycle range, building an electric vehicle presence and growing its exports. Its large rural and semi-urban reach supports demand when household spending improves.
How has Hyundai Motor India performed financially?
Ans. Revenue rose from Rs 47,966 crore in FY22 to Rs 71,752 crore in FY26, a compound annual growth rate of 10.6%. Net profit grew from Rs 2,902 crore in FY22 to Rs 5,432 crore in FY26, which works out to a compound annual growth rate of 17.0%. The company has a return on equity of 27.1%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 150,645 crore. The stock trades at a P/E of 30.4, above the industry P/E of 23.4. Looking ahead, a strong sport utility vehicle line-up, a growing exports business and new capacity at the Pune plant add to volumes. The company is also working on electric models and hybrid options for the Indian market.
What risks should investors check before buying van, scooter and SUV maker stocks?
Ans. Investors should check a few risks before buying van, scooter and SUV maker stocks. Demand cycles. Sales can vary with seasons and rates. Input costs. Metal and material prices can move margins. Competition. Rivals can influence pricing and market share. 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 van, scooter and SUV maker stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 27 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.