Force Motors gains after October auto production and sales update

Force Motors advanced 3.30% to Rs 1566.55 after the company announced its production and sales figures for the month of October 2021.

The company's total production was 2,044 units, up 19.7% YoY but down 5.3% MoM.

While the domestic sales declined 25.9% to 1,173 units, exports rose by 81.1% to 565 units in October 2021 over October 2020.

The company's domestic sales are lower by 40.4% while exports are higher by 107.7% in October 2021 as compared with September 2021.

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.

 

On a consolidated basis, the company posted a loss of Rs 4.38 crore in Q1 FY22 as compared to a loss of Rs 65.01 crore in Q1 FY21. Net sales jumped 247% to Rs 643.33 crore in Q1 FY22 over Q1 FY21.

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