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Compare Force Motors with Ashok Leyland - Equitymaster

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FORCE MOTORS vs ASHOK LEYLAND - Comparison Results

FORCE MOTORS    Change

Force Motors Ltd. (erstwhile Bajaj Tempo), promoted by the Firodia Group manufactures 3-wheelers (passenger and goods versions), Utlity Vehicles (UV), Light Commercial Vehicles (LCV) and Heavy Commercial Vehicles (HCV). The company is also engaged i... More

ASHOK LEYLAND 
   Change

Ashok Leyland is the second largest manufacturer of medium and heavy commercial vehicles (M&HCV) in India. It had a 27.0% market share in the domestic M&HCV segment and a marginal presence in the LCV segment (light commercial vehicles). Ashok Leyland... More

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Current Valuations

    FORCE MOTORS ASHOK LEYLAND FORCE MOTORS/
ASHOK LEYLAND
 
P/E (TTM) x 24.4 24.7 99.0% View Chart
P/BV x 2.4 6.1 39.7% View Chart
Dividend Yield % 0.4 1.1 32.2%  

Financials

 FORCE MOTORS   ASHOK LEYLAND
EQUITY SHARE DATA
    FORCE MOTORS
Mar-16
ASHOK LEYLAND
Mar-17
FORCE MOTORS/
ASHOK LEYLAND
5-Yr Chart
Click to enlarge
High Rs3,785113 3,355.5%   
Low Rs1,38374 1,879.1%   
Sales per share (Unadj.) Rs2,321.879.9 2,904.5%  
Earnings per share (Unadj.) Rs136.25.8 2,368.4%  
Cash flow per share (Unadj.) Rs206.07.8 2,652.7%  
Dividends per share (Unadj.) Rs10.001.56 641.0%  
Dividend yield (eoy) %0.41.7 23.1%  
Book value per share (Unadj.) Rs1,124.822.5 5,007.0%  
Shares outstanding (eoy) m13.182,845.88 0.5%   
Bonus/Rights/Conversions ---  
Price / Sales ratio x1.11.2 95.5%   
Avg P/E ratio x19.016.2 117.1%  
P/CF ratio (eoy) x12.512.0 104.5%  
Price / Book Value ratio x2.34.1 55.4%  
Dividend payout %7.327.1 27.1%   
Avg Mkt Cap Rs m34,057265,236 12.8%   
No. of employees `000NA11.9 0.0%   
Total wages/salary Rs m3,03719,009 16.0%   
Avg. sales/employee Rs ThNM19,107.6-  
Avg. wages/employee Rs ThNM1,596.6-  
Avg. net profit/employee Rs ThNM1,375.1-  
INCOME DATA
Net Sales Rs m30,601227,495 13.5%  
Other income Rs m7141,307 54.7%   
Total revenues Rs m31,316228,802 13.7%   
Gross profit Rs m2,74432,939 8.3%  
Depreciation Rs m9195,728 16.0%   
Interest Rs m4310,488 0.4%   
Profit before tax Rs m2,49618,030 13.8%   
Minority Interest Rs m-155 -1.4%   
Prior Period Items Rs m00-   
Extraordinary Inc (Exp) Rs m0247 0.0%   
Tax Rs m7001,961 35.7%   
Profit after tax Rs m1,79616,371 11.0%  
Gross profit margin %9.014.5 61.9%  
Effective tax rate %28.010.9 257.7%   
Net profit margin %5.97.2 81.5%  
BALANCE SHEET DATA
Current assets Rs m12,178107,991 11.3%   
Current liabilities Rs m7,167101,587 7.1%   
Net working cap to sales %16.42.8 581.6%  
Current ratio x1.71.1 159.8%  
Inventory Days Days6544 146.9%  
Debtors Days Days1817 108.1%  
Net fixed assets Rs m9,97952,682 18.9%   
Share capital Rs m1322,846 4.6%   
"Free" reserves Rs m14,69061,084 24.0%   
Net worth Rs m14,82463,929 23.2%   
Long term debt Rs m2688,764 0.0%   
Total assets Rs m22,973264,278 8.7%  
Interest coverage x58.82.7 2,161.8%   
Debt to equity ratio x01.4 0.1%  
Sales to assets ratio x1.30.9 154.7%   
Return on assets %8.010.2 78.8%  
Return on equity %12.125.6 47.3%  
Return on capital %17.118.9 90.6%  
Exports to sales %1.67.5 21.7%   
Imports to sales %32.71.4 2,296.0%   
Exports (fob) Rs m49917,107 2.9%   
Imports (cif) Rs m10,0143,242 308.8%   
Fx inflow Rs m499182,620 0.3%   
Fx outflow Rs m10,0697,685 131.0%   
Net fx Rs m-9,570174,935 -5.5%   
CASH FLOW
From Operations Rs m2,6352,701 97.5%  
From Investments Rs m-2,100-16,949 12.4%  
From Financial Activity Rs m-3927,377 -5.3%  
Net Cashflow Rs m143-6,681 -2.1%  

Share Holding

Indian Promoters % 59.4 0.0 -  
Foreign collaborators % 0.0 38.8 -  
Indian inst/Mut Fund % 0.7 12.1 5.8%  
FIIs % 5.8 20.4 28.4%  
ADR/GDR % 0.0 12.4 -  
Free float % 34.1 16.4 207.9%  
Shareholders   18,200 323,610 5.6%  
Pledged promoter(s) holding % 0.0 13.1 -  
NM: Not Meaningful
Source: Company Annual Reports, Regulatory Filings, Equitymaster

Compare FORCE MOTORS With:   VST TILLERS  TVS MOTORS  HERO MOTOCORP  ESCORTS  ATUL AUTO  

Compare FORCE MOTORS With:   SAIC MOTOR (China)  HYUNDAI (S. Korea)  DONGFENG MOTOR (China)  FORD (US)  



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Related Views on News

FORCE MOTORS Announces Quarterly Results (4QFY18); Net Profit Up 10.4%

Jun 11, 2018 | Updated on Jun 11, 2018

For the quarter ended March 2018, FORCE MOTORS has posted a net profit of Rs 606 m (up 10.4% YoY). Sales on the other hand came in at Rs 10 bn (up 8.8% YoY). Read on for a complete analysis of FORCE MOTORS's quarterly results.

ASHOK LEYLAND Announces Quarterly Results (4QFY18); Net Profit Up 79.0%

May 21, 2018 | Updated on May 21, 2018

For the quarter ended March 2018, ASHOK LEYLAND has posted a net profit of Rs 7 bn (up 79.0% YoY). Sales on the other hand came in at Rs 88 bn (up 24.3% YoY). Read on for a complete analysis of ASHOK LEYLAND's quarterly results.

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