Force Motorss 2QFY17 EBITDA margin at 8.9% (Rs 750mn) was below estimates owing to higher than expected other expenses ( 50bps QoQ) and slightly lower topline. Net sales at Rs 8.4bn ( 12% YoY, 13% QoQ) were a miss on lower sub-contracting (3.5% below est.) revenue. APAT stood at Rs 493 mn ( 16% YoY).