Last Updated: November 10, 2023, 15:16 IST
Force Motors, the Abhay Firodia group’s flagship firm, witnessed sturdy investor curiosity, reaching the 5 per cent higher circuit at Rs 4,053 per share on November 10. This surge adopted the corporate’s spectacular efficiency within the July-September quarter (Q2FY24).
For the July-September quarter of FY24, the corporate reported a web revenue of Rs 94 crore, which shows a robust enchancment from a web revenue of Rs 19 crore reported in the identical interval of final yr, which is a rise of 395 per cent YoY.
The consolidated income from operations grew by 42.40 per cent YoY to Rs 1,800 crore in Q2 FY24. The firm witnessed an enchancment in its working revenue, reaching Rs 221 crore in Q2 from Rs 98 crore in Q2 FY23, whereas the EBITDA margin expanded by 400 foundation factors YoY to 12 per cent.
Force Motors is a completely vertically built-in car firm with experience within the design, growth, and manufacture of the complete spectrum of automotive elements, aggregates, and automobiles.
Its vary of merchandise contains mild business automobiles (LCVs), multi-utility automobiles (MUVs), small business automobiles (SCVs), sports activities utility automobiles (SUVs), and agricultural tractors.
According to SIAM information, Force Motors market share grew to 4.3 per cent in Q2FY24 as in comparison with 3.3 per cent within the yr-in the past interval. It elevated its presence throughout key geographies like Tamil Nadu, Maharashtra, Uttar Pradesh, Rajasthan, West Bengal, and Gujarat.
In the September-ended quarter, overseas institutional buyers (FIIs) have elevated their stake to 4.9 per cent from 4.1 per cent within the yr-in the past interval.
Institutional buyers, too, have upped their stake to six.5 per cent in September 2023 from 5.5 per cent in June 2023.
However, mutual funds have trimmed their stake to 0.9 per cent within the September-ended quarter from 1.09 per cent within the yr-in the past interval.
Currently, the inventory of Force Motor is buying and selling at 18 occasions (x) worth-to-earnings (PE) ratio, decrease than its sector PE ratio of 33.7x, recommended information.
