Force Motors stock rises 4% after April sales jump 46%

The Force Motor shares gained a staggering 607 percent in the last year.

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Shares of Force Motors Limited advanced 4 percent to Rs 9,880 in morning trade on May 6, a day after the company announced healthy sales in the month of April.

Force Motors’ small and light commercial vehicle and utility vehicles sales surged over 36 percent to 2,268 units in April, the company stated in a regulatory filing. The company sold 1,662 units in the same month previous year.

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The export business of the company more than doubled to 356 units from 166 reported in the corresponding month of the previous fiscal. This helped the company’s total sales to rise over 46 percent (including exports), the data showed.

In the fiscal fourth quarter, the company's net profit slipped over 4 percent on-year to Rs 140.3 crore but revenue climbed 35 percent on-year to Rs 2,011.2 crore. The operating level EBITDA surged to Rs 278.7 crore from Rs 120.8 crore in the corresponding period of the previous fiscal. The EBITDA margin came in at 14 percent, up 600 basis points on-year.

Force Motors operates as an automobile company with expertise across the entire spectrum of vehicle manufacturing, from design and development to production. Their product lineup includes a variety of vehicles such as Light Commercial Vehicles (LCV), Multi-Utility Vehicles (MUV), Small Commercial Vehicles (SCV), Sports Utility Vehicles (SUV), and Agricultural Tractors.

The Force Motor shares gained a staggering 607 percent in the last year. At about 9:25 am, shares were trading at Rs 9,774, higher by 3 percent from the last close.

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