Force Motors production spurts to 1,306 units in May

Force Motors announced that its total production stood at 1,306 units in May 2021, steeply higher than 26 units in May 2020.

Total domestic sales surged 410.15% to 1,306 units in May 2021 as against 256 units in May 2020. Total exports were at 154 units in May 2021. There were no exports during the same period last year due to Covid-19 pandemic.

On a month-on-month (M-o-M) basis, the company's total production grew 25.33% last month from 1,042 units in April 2021. Total domestic sales jumped 19.38% last month as against 1,094 units in April 2021. Total exports skid 17.64% in May 2021 as against 187 units in April 2021.

Force Motors reported a consolidated net loss of Rs 53.65 crore in Q4 FY21 as against a net profit of Rs 6.09 crore in Q4 FY20. Net sales declined 6.3% to Rs 612.53 crore in Q4 FY21 from Rs 653.78 crore in Q4 FY20.

Force Motors is engaged in manufacturing light commercial vehicles and utility vehicles, and engines. It is an automobile company, with a focus on design, development and manufacture of a range of automotive components, aggregates and vehicles.

Shares of Force Motors slipped 0.70% to close at Rs 1,191.75 on Friday, 4 June 2021.

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