FORCE MOTORS Announces Quarterly Results (2QFY20); Net Profit Down 81.0%

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FORCE MOTORS Announces Quarterly Results (2QFY20); Net Profit Down 81.0%
Fri, 18 Oct

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

FORCE MOTORS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m8,8148,0247,551-5.9%-14.3%
Other incomeRs m14015517211.2%23.4%
TurnoverRs m8,9548,1797,723-5.6%-13.7%
ExpensesRs m8,0757,3247,170-2.1%-11.2%
Gross profitRs m739700381-45.6%-48.5%
DepreciationRs m3524564723.4%34.3%
InterestRs m261645.3%3252.6%
Profit before taxRs m52533817-95.0%-96.8%
TaxRs m12868-58-185.2%-145.6%
Profit after taxRs m39727075-72.1%-81.0%
Gross profit margin%8.48.75.0
Effective tax rate%24.420.2-342.9
Net profit margin%4.43.31.0
* 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 14.3% on a year-on-year (YoY) basis. The expenses were down by 11.2% YoY during the same period.
  • The company's operating profit declined by 48.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.0% in 2QFY20 as against 8.4% in 2QFY19.
  • Depreciation charges increased by 34.3% and finance costs increased by 3252.6% YoY, respectively.
  • Other income increased by 23.4% YoY during the quarter.
  • Net profit for the quarter declined by 81.0% YoY. Net profit margins during the quarter declined from 4.4% in 2QFY19 to 1.0% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.1% QoQ during the same period.
  • The company's operating profit declined by 45.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.0% in 2QFY20 as against 8.7% in 1QFY19.
  • Net profit for the quarter declined by 72.1% QoQ, while net profit margins declined from 3.3% in 1QFY19 to 1.0% in 2QFY20.

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

Discover: India's #1 Defence Stock

FORCE MOTORS Share Price Performance

Over the last one year,FORCE MOTORS share price has moved down from Rs 1,783.7 to Rs 1,074.0, registering a Loss of Rs 709.8 or around 39.8%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 17,776.4 (up 0.4%). Over the last one year it has moved down from 19,853.6 to 17,776.4, a gain of 2,077 points (down 10.5%).

Overall, the S&P BSE SENSEX is up 12.7% over the year.

Current Valuations

At the current price of Rs 1,074.0, the price to earnings (P/E) ratio of FORCE MOTORS stands at 14.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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Related Views on News

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 (1QFY20); Net Profit Down 34.1% (Quarterly Result Update)

Jul 29, 2019 | Updated on Jul 29, 2019

For the quarter ended June 2019, FORCE MOTORS has posted a net profit of Rs 270 m (down 34.1% YoY). Sales on the other hand came in at Rs 8 bn (down 9.9% YoY). Read on for a complete analysis of FORCE MOTORS's quarterly results.

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.

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