Force Motors, the flagship firm of the Abhay Firodia Group, saw its shares rise 9.46% in intraday trade on January 02, reaching an 8-week high of ₹7,256 apiece after winning a substantial order for diesel ambulance vehicles.
In a regulatory statement today, the business informed investors that it has obtained an order to supply 2,429 BSVI Diesel Ambulances to the Medical Health and Family Welfare Department of Uttar Pradesh. However, the corporation did not reveal the order value.
Force Motors is a vertically integrated automobile manufacturer that specializes in the design, development, and production of a wide range of automotive components, aggregates, and vehicles. Its product offerings include light commercial vehicles (LCVs), multi-utility vehicles (MUVs), small commercial vehicles (SCVs), sports utility vehicles (SUVs), and agricultural tractors.
In November, the company’s car sales increased somewhat, to 1,885 units from 1,884 units the previous year. The sales included small commercial vehicles, light commercial vehicles, and utility vehicles.
The company did not record any sales from its tractor division, which ended operations on March 31. A year before, it had sold 187 tractors. Domestic sales increased 12% year on year in November to 1,736 units, but exports fell 56% to 149 units, according to the filing.
The company reported a roughly 44% gain in earnings for the quarter ending September 30, driven by greater engine sales to BMW and Mercedes, which offset a drop in sales of its multi-seat vans. While Force Motors’ vehicle sales declined 19% during the quarter, the company profited from rising demand for luxury automobiles in the world’s third-largest automotive market.
Stock up Roughly 500% in the last 3 years.
Over the last three years, the company’s shares have continued a steady upward trajectory, breaking new records and reaching new milestones while rewarding shareholders handsomely. Over this period, the shares have returned 480%.
During this period, the shares increased from ₹1,250 to ₹7,256. In April of last year, the shares reached an all-time high of ₹10,277, before experiencing profit booking.
As of Q2FY25, the promoters owned 61.6% of the company’s shares, with international portfolio investors holding 7.9% and domestic institutional investors holding 0.9%. Trendlyne’s data shows that regular stockholders control 29.6%.
