Force Motors

Force Motors posted an exuberant Q2FY16 performance on the back of excellent operational efficiency. Revenue for the quarter grew 27% (YoY) at Rs.763 crore, riding high of good, strong volumes. EBITDA showed a good 80% jump at Rs.65 crore while margins grew by a whopping 250 bps to 8.5%.

In terms of other costs, tax outgo showed a sharp rise of 125% and interest expense, which was already low at Rs.2 crore in previous Q1, now stands at Rs.50 lakh, making it virtually debt free. The company thus ended the quarter with a 65% jump in net profit at Rs.42 crore. The company’s net profit for H1FY16 stands at Rs.78 crore which is already 77% of entire FY15 profit. Equity capital is at Rs.13.18 crore and annualized EPS works out to Rs.76. Reserves stands at a very healthy Rs.1304 crore.