Upper circuit alert: This small-cap automobile company reports a whopping 1991 per cent jump in operating profit; hits fresh 52-week high!
Shares of the company grew by more than 25 per cent in the last one month.
Shares of Force Motors Limited were locked in the upper circuit on Tuesday, gaining 20.00 per cent. In the last five trading sessions, the stock has gained about 25 per cent. On Friday, the stock also made a fresh 52-week high at Rs 1,718.10.
The company posted mind-blowing Quarterly Results. The revenue of the company for Q4FY23 stood at Rs 1490.25 crore which grew by 69.06 per cent YoY. The operating profit of the company stood at Rs 158.73 crore growing by 1991.3 per cent YoY, while the PAT of the company stood at Rs 149.24 crore.
The board of the company also recommended a dividend of Rs 10.00 per equity (100 per cent) share with a face value of Rs 10.
Force Motors Limited is the flagship company of the Abhay Firodia group. The company is in the business of manufacturing fully vertically integrated small and light CVs, multi-utility vehicles, and agricultural tractors, which it supplies to various countries in the Middle East, Asia, Latin America, and Africa. It was known as Bajaj Tempo till 2005.
Overall, the financial performance of the company showed excellent growth and also demonstrated improvement in profit margins, indicating better operational efficiency. The stock has shown tremendous growth, and investors should keep a close eye on this stock.
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