Force Motors rallies after good production, sales in April

Force Motors soared 7.27% to Rs 1,190 after the company reported total production of 1,042 units in April 2021.

There was no production in April 2020 due to COVID-19 related lockdowns.

Total domestic sales stood at 1,094 units in April 2021 compared with 46 units in April 2020. Exports sales stood at 187 units in April 2021 as against 20 units in April 2020.

Sequentially, total production slumped 47.13% in April 2021 as against 1,971 units in March 2021. Domestic sales tanked 33% in April 2021 compared with 1,633 units in March 2021. Exports sales tumbled 56% in April 2021 as against 425 units in March 2021.

Force Motors reported a consolidated net loss of Rs 18.95 crore in Q3 FY21 as against net profit of Rs 13.80 crore in Q3 FY20. Net sales tumbled 43.5% to Rs 491.18 crore in Q3 FY21 from Rs 869.11 crore in Q3 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.

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