Force Motors - racing ahead!


(Sarabjeet Singh) #83

@advaitp , I agree sales growth had been flat to down however if you notice for past two quarters sales have improved and Ebita has increased YoY. PAT was down due to ‘other income’ which to me is a good sign as that excess amount would have been used for investment in upcoming joint venture.

Rest lets see how the story unfolds.

And I completely agree regarding disclosure part, company is not very open in sharing the info. That is little disappointing.


(Sarabjeet Singh) #84


(Sarabjeet Singh) #85

(Sarabjeet Singh) #86

And finally we see some positive growth numbers. I am happy with numbers however have few concerns as well. Will update bit later.


(Sarabjeet Singh) #87

  1. Intangible assets have doubled, however company has not given any details about these assets.

  2. Receivables have swelled to almost double.

  3. Inventories have also increased


(Sarabjeet Singh) #88

07%20PM


(Sarabjeet Singh) #89

Production is decreasing YoY for SCV and LCV for last 3 months however sales are increasing. Indication that company is trying to clear huge inventory it had piled earlier.