Force Motors registers impressive 32% growth in FY16

Force Motors Ltd. has reported a remarkable performance for the year ended March 31, 2016. The gross turnover was Rs. 3,485 crores as compared to Rs. 2,639 crores in the previous year. Business of the company has grown by 32 per cent over the past year.

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The overall profit before tax amounted to Rs. 249 crores as compared to the previous year’s Rs. 125 crores, showing an increase of almost 100 per cent. The EBITDA for 2015-16 has gone up from Rs. 213 crores to Rs. 346 crores, which is 62 per cent higher as compared to the previous year.

The Traveller, Trax and Tractor categories all contributed to the growth. The company continues to focus on the utilitarian and rural vehicles. The growth in tractors has been achieved in a background of poor monsoon and strained agri-economy.

A significant addition to the top line was also achieved with the full operationalization of the engine factory in Chennai for supply to BMW India. This is besides the good growth in the engine and axles business with Mercedes Benz India Ltd.

The healthy growth pace is expected to be maintained in the year ahead, especially if the monsoon and the rural economy is favourable.