SML Isuzu hits the roof after price hike

SML Isuzu hit an upper circuit limit of 20% to Rs 707.20 after the company increased prices of its products from 4 April 2022.

The company on 3 April 2022 announced that it has decided to increase prices of its products (across all models - trucks & buses) in the range of 3% to 4%, effective 4th April 2022.

"While the company is taking actions to absorb the impact of sharp increase in commodity prices and other input costs, the upward revision has been necessitated to partially offset the impact of increased costs," it said in a statement.

SML Isuzu's total sales grew 43% to 1363 units in March 2022 as against 952 units sold in March 2021. Sequentially, its total sales jumped 90.9% from 714 units sold in February 2022.

SML Isuzu is engaged in the business of manufacture of commercial vehicles and spares. The firm produces light and medium commercial vehicles.

The commercial vehicle maker reported a net loss of Rs 25.79 crore in Q3 FY22 as against a net loss of Rs 26.39 crore in Q3 FY21. Net sales rose 35.9% to Rs 249.88 crore in Q3 FY22 over Q3 FY21.

Powered by Capital Market - Live News