Force Motors rises after good sales in May

Force Motors gained 3.92% to Rs 1,090 after the company's domestic sales jumped 31% to 1,709 units in May 2022 from 1,306 units sold in May 2021.

As compared with April 2022, the domestic sales were higher by 29.4% last month.

Export sales aggregated to 317 units in May 2022, jumping 105% on a year on year (YoY) basis and surging by 272% on a month on month (MoM) basis.

The company's production in May 2022 was 2,047 units, up by 56% from 1,306 units produced in May 2021. The production increased by 53% last month from 1,338 units produced in April 2022.

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.

The company reported a consolidated net loss of Rs 42.77 crore in the quarter ended March 2022 as against net loss of Rs 53.67 crore during the previous quarter ended March 2021. Sales rose 43.9% YoY to Rs 881.47 crore in Q4 FY22.

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