Force Motors down after recording lacklustre February sales

The shares of Force Motors were trading down by five per cent on Friday after the company reported subdued sales number for February 2020.

The total production slumped by 28.85 per cent to 1,864 units in February 2020 from 2,620 units in January 2020. On a YoY comparison, the total production fell by 3.17 per cent from 1,925 units in February 2019. The total domestic sales fell by 14.86 per cent to 2,000 units in February 2020 from 2,349 units in January 2020. On a YoY basis, the domestic sales in February 2020 were down by 18.93 per cent from 2,467 units in February 2019.

The total exports of the company fell in February 2020 by 59.93 per cent to 117 units in February 2020 from 292 units in January 2020. On a YoY basis, however, the company’s exports saw an impressive growth of 21.88 per cent from 96 units in January 2019.

Force Motors Limited is a company engaged in the manufacturing of Light Commercial Vehicles (LCV), utility vehicles and engines. Its product range includes Small Commercial Vehicles (SCV), Multi-Utility Vehicles (MUV), Light Commercial Vehicles (LCV), Sports Utility Vehicles (SUV) and agricultural tractors.

At 12.15 pm on Friday, the stock is trading at Rs 994.35, down by 5.16 per cent or Rs 54.05 per share. The 52-week high is recorded at Rs 1,869 and the 52-week low is Rs 951 on BSE.