Force Motors has entered into a Memorandum of Understanding (MoU) to acquire 100% equity stake in Veera Tanneries for ₹175 crore. According to reports from Moneycontrol News, the MoU was executed on Friday, February 6, 2026, involving Force Motors, Veera Tanneries (VTPL), and the shareholders of VTPL. This strategic acquisition is expected to keep Force Motors shares in focus as the company expands its business portfolio. The acquisition will proceed after undertaking the requisite due diligence and adhering to mutually agreed terms and conditions, which will form the basis of the definitive agreements.
For the quarter ended December (Q3FY26), Force Motors reported a 252% surge in consolidated net profit to ₹406.1 crore, compared with ₹115.3 crore in the corresponding period last year. As reported by Moneycontrol News, revenue rose 12.7% year-on-year to ₹2,128.6 crore, up from ₹1,889.5 crore. The performance was supported by exceptional gains of ₹211.2 crore, as against nil in the year-ago quarter.
The company's total sales for January rose 4.6% year-on-year to 3,764 units, compared with 3,597 units in the same month last year. According to Moneycontrol News, domestic sales increased 4.92% to 3,665 units, while exports declined 4.81% to 99 units, down from 104 units a year ago. This mixed performance reflects the company's ongoing business operations during the current period.
