Force Motors in the fast lane
By
Research Desk
about 9 years ago
Force Motors is a smart gainer on the BSE. The stock which had closed on Friday at Rs.3476.50 opened today morning at Rs.3650 and went on to an intra day high at Rs.3739.
The company posted an exuberant Q2FY16 performance on the back of excellent operational efficiency. Revenue for the quarter grew 27% (YoY) at Rs.763 crore, riding high of good, strong volumes. EBITDA showed a good 80% jump at Rs.65 crore while margins grew by a whopping 250 bps to 8.5%.
In terms of other costs, tax outgo showed a sharp rise of 125% and interest expense, which was already low at Rs.2 crore in previous Q1, now stands at Rs.50 lakh, making it virtually debt free. The company thus ended the quarter with a 65% jump in net profit at Rs.42 crore.