FORCE MOTORS Announces Quarterly Results (1QFY20); Net Profit Down 34.1%

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FORCE MOTORS Announces Quarterly Results (1QFY20); Net Profit Down 34.1%
Mon, 29 Jul

FORCE MOTORS has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

FORCE MOTORS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m8,90510,6068,024-24.3%-9.9%
Other incomeRs m115292155-46.9%34.8%
TurnoverRs m9,02010,8978,179-24.9%-9.3%
ExpensesRs m8,1019,8777,324-25.8%-9.6%
Gross profitRs m804729700-3.9%-12.9%
DepreciationRs m3454164569.8%32.4%
InterestRs m108161-25.2%536.8%
Profit before taxRs m565524338-35.4%-40.1%
TaxRs m15613168-47.9%-56.0%
Profit after taxRs m409392270-31.2%-34.1%
Gross profit margin%9.06.98.7
Effective tax rate%27.525.120.2
Net profit margin%4.53.63.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 9.9% on a year-on-year (YoY) basis. The expenses were down by 9.6% YoY during the same period.
  • The company's operating profit declined by 12.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 8.7% in 1QFY20.
  • Depreciation charges increased by 32.4% and finance costs increased by 536.8% YoY, respectively.
  • Other income increased by 34.8% YoY during the quarter.
  • Net profit for the quarter declined by 34.1% YoY. Net profit margins during the quarter declined from 4.5% in 1QFY19 to 3.3% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 24.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 25.8% QoQ during the same period.
  • The company's operating profit increased by 3.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.7% in 1QFY20 as against 6.9% in 4QFY19.
  • Net profit for the quarter declined by 31.2% QoQ, while net profit margins declined from 3.6% in 4QFY19 to 3.3% in 1QFY20.

To see how FORCE MOTORS has performed over the last eight quarters,please visit here.

FORCE MOTORS Share Price Performance

Over the last one year,FORCE MOTORS share price has moved down from Rs 2,635.3 to Rs 1,147.0, registering a Loss of Rs 1,488.3 or around 56.5%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 15,710.7 (down 2.9%). Over the last one year it has moved down from 24,269.3 to 15,710.7, a gain of 8,559 points (down 35.3%).

Overall, the S&P BSE SENSEX is up 2.3% over the year.

Current Valuations

At the current price of Rs 1,147.0, the price to earnings (P/E) ratio of FORCE MOTORS stands at 11.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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FORCE MOTORS 2018-19 Annual Report Analysis (Annual Result Update)

Sep 16, 2019 | Updated on Sep 16, 2019

Here's an analysis of the annual report of FORCE MOTORS for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of FORCE MOTORS. Also includes updates on the valuation of FORCE MOTORS.

FORCE MOTORS Announces Quarterly Results (4QFY19); Net Profit Down 35.3% (Quarterly Result Update)

May 29, 2019 | Updated on May 29, 2019

For the quarter ended March 2019, FORCE MOTORS has posted a net profit of Rs 392 m (down 35.3% YoY). Sales on the other hand came in at Rs 11 bn (up 1.7% YoY). Read on for a complete analysis of FORCE MOTORS's quarterly results.

FORCE MOTORS Announces Quarterly Results (3QFY19); Net Profit Up 86.6% (Quarterly Result Update)

Feb 18, 2019 | Updated on Feb 18, 2019

For the quarter ended December 2018, FORCE MOTORS has posted a net profit of Rs 273 m (up 86.6% YoY). Sales on the other hand came in at Rs 8 bn (up 10.2% YoY). Read on for a complete analysis of FORCE MOTORS's quarterly results.

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