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FORCE MOTORS Announces Quarterly Results (1QFY19); Net Profit Up 36.6%

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FORCE MOTORS Announces Quarterly Results (1QFY19); Net Profit Up 36.6%
Mon, 30 Jul

FORCE MOTORS has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

FORCE MOTORS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m8,45310,4328,905-14.6%5.3%
Other incomeRs m282139115-17.1%-59.2%
TurnoverRs m8,73410,5719,020-14.7%3.3%
ExpensesRs m8,0809,3078,101-13.0%0.3%
Gross profitRs m3731,125804-28.5%115.6%
DepreciationRs m3083393451.6%12.0%
InterestRs m341710-43.1%-72.4%
Profit before taxRs m312908565-37.8%80.9%
TaxRs m13302156-48.4%1124.4%
Profit after taxRs m300606409-32.5%36.6%
Gross profit margin%4.410.89.0
Effective tax rate%4.133.227.5
Net profit margin%3.45.74.5
* 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 grew 5.3% on a year-on-year (YoY) basis. The expenses were up by 0.3% YoY during the same period.
  • The company's operating profit increased by 115.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.0% in 1QFY19 as against 4.4% in 1QFY18.
  • Depreciation charges and finance costs increased by 12.0% YoY and 72.4% YoY, respectively.
  • Other income declined by 59.2% YoY during the quarter.
  • Net profit for the quarter increased by 36.6% YoY. Net profit margins during the quarter increased from 3.4% in 1QFY18 to 4.5% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 14.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 13.0% QoQ during the same period.
  • The company's operating profit declined by 28.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.0% in 1QFY19 as against 10.8% in 4QFY18.
  • Net profit for the quarter declined by 32.5% QoQ, while net profit margins declined from 5.7% in 4QFY18 to 4.5% in 1QFY19.

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 up from Rs 4,061.6 to Rs 2,629.0, registering a Loss of Rs 1,432.6 or around 35.3%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 24,388.4 (up 0.5%). Over the last one year it has moved up from 24,342.8 to 24,388.4, a gain of 46 points (up 0.2%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 2,629.0, the price to earnings (P/E) ratio of FORCE MOTORS stands at 21.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.3 times.

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