Force Motors losing its force; hits 52-week low

The company’s domestic sales for SCV and LCV stood at 727 units while for UV, SUV, and tractors it stood at 750 units.

Dec 06, 2018 05:12 IST India Infoline News Service

Shares of Force Motors hit a 52-week low on Thursday after the company reported a drop in its production, sales, and export numbers for the month of November 2018 on Wednesday.

Force Motors had hit a fresh 52-week low of Rs1,630 on Wednesday after the dismal numbers were announced.

The company’s production of small commercial vehicles (SCV) and light commercial vehicles (LCV) stood at 1,130 units and utility vehicles (UV), sports utility vehicles (SUV), and tractors stood at 912 units, as per its filing with the BSE.

Meanwhile, the company’s domestic sales for SCV and LCV stood at 727 units and for UV, SUV, and tractors its stood at 750 units. The company has exported six units of SCV and LCV and six units of UV, SUV, and tractors in the month of November 2018, the company added.

Force Motors is a vertically integrated company that manufactures engines, chassis, gearboxes, bodies, etc. Its revenue composition is LCV & UV (57%), engines (27%), and others (16%). The company has a debt-free balance sheet with cash and liquid assets of Rs247cr as on March 31, 2018.

Force Motors Ltd share price is currently at Rs1,639.95, down Rs16.75, or 1.01%, from its previous close of Rs1,656.70 on the BSE. The scrip opened at Rs1,650 and has touched a high and low of Rs1,650.35 and Rs1,630, respectively.

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