Force Motors shares rise 10% to hit 8-week high after winning Uttar Pradesh government ambulance order

Today’s stock market: The share price of Force Motors, the flagship company of Abhay Firodia Group, soared 9.46% intraday on January 2, hitting an 8-week high $7,256 each after getting a big order for diesel ambulances.

In a regulatory filing today, the company informed investors that it has received an order to supply 2,429 BSVI diesel ambulances to the Uttar Pradesh Department of Healthcare and Family Welfare. However, the company did not disclose the value of the order.

Force Motors is a fully vertically integrated automotive company with expertise in designing, developing and manufacturing a full range of automotive parts, assemblies and vehicles. Its product range includes light commercial vehicles (LCVs), multi-purpose vehicles (MUVs), small commercial vehicles (SCVs), sport utility vehicles (SUVs) and agricultural tractors.

In November, the company’s car sales increased slightly to 1,885 units from 1,884 units in the same period last year. These sales include small commercial vehicles, light commercial vehicles and utility vehicles.

The company did not report any sales from its tractor business, which ceased operations on March 31. Domestic sales rose 12% year-on-year to 1,736 vehicles in November, while exports fell 56% to 149 vehicles, the document said.

The company reported a nearly 44% rise in profit in the quarter ended in September, as higher sales of BMW and Mercedes engines offset a decline in sales of its multi-passenger vans. While sales of Force Motors’ own vehicles fell 19% in the quarter, the company benefited from surging demand for luxury vehicles in the world’s third-largest auto market.

Its consolidated net profit rose to $135 crore in the July-September quarter, compared with Rs. $940 million in the same period last year.

Inventories have risen nearly 500% in the past three years

The company’s stock price has maintained a strong upward trend in the past three years, constantly breaking new records and creating new milestones, bringing generous returns to shareholders. During this period, the stock returned 480%.

During this period, the share price rose $The current trading level is 1,250 per person $7,256 per person. In April last year, the stock price broke through $Breaking through the 10,000 mark for the first time, setting a record high $10,277, followed by some profitable bookings.

As of Q2FY25, promoters held 61.6% stake in the company, with foreign portfolio investors and domestic institutional investors holding 7.9% and 0.9% shares respectively. Common shareholders hold 29.6% of the shares, according to Trendlyne.

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