Force Motors gains in March 2017 Sales
Published On Apr 07, 2017
Force Motors, the home grown commercial vehicle manufacturer had a pleasing last fiscal with the sales bettered in comparison to previous year. In the domestic market, the company stated that it has sold 4,129 units during March 2017, as compared to previous year same month. The firm informed this in its filing at Bombay Stock Exchange.
The majority of the sales came from its Small Commercial Vehicle and Light Commercial Vehicle categories with sales of 2,575 units out of total 4,129 units. Rest sales of 1,554 units came from Utility Vehicles, Sports Utility Vehicles and tractor segments.
Export department also made a significant contribution to the overall sales. During the month, company shipped total 233 units out of which 226 units belonged to SCV category while UVs, SUVs and tractors shared the remaining 7 unit sales.
In totality, Force Motors manufactured 3,209 units of SCVs, 1,822 units of LCVs, 1,387 units of UVs, SUVs and tractors. The combined gross value of both domestic and exports for the month stood at INR 30,300.17 lakh besides the net taxes of INR 26,518.98 lakhs.
So far in the calendar year 2017, the stock gathered 28 percent as against 12.5 percent rise in S&P BSE Sensex. After Supreme Court ban of BS-III vehicles, shares of Force Motors declined by 1.84 percent to INR 4,516, but bounced back again. The ban didn’t affected much as company doesn’t deal in heavy commercial vehicles, but so far, company has not stated any numbers as to what the exact amount of inventory it currently holds.