FORCE MOTORS LTD-$
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BSE Code:
500033
NSE Code:
FORCEMOT
Business Profile
Business Profile
Force Motors (Force), formerly known as Bajaj Tempo Limited, is a Firodia Enterprise company established in 1958. The company is involved in designing, manufacturing and selling of a wide variety of vehicles and their components. Force manufactures vehicles in the five different segments of tractors, three wheelers, light commercial vehicles (LCVs), multi-utility vehicles (MUVs) and heavy commercial vehicles (HCVs). In its tractor segment, the company sells brands such as OX and Balwan, while in its three wheeler segments it markets wide range of three wheelers under the brand name of Minidor. The company has a strong presence in the LCV segment and manufactures Traveller and Excel range of passenger and goods carriers. In the MUV segment, its sells a wide variety of vehicles some of them include Trax Judo, Trax GAMA, Trax Cruiser and Trax Gurkha. For its HCV segment, Force has a technical collaboration with MAN AG, Germany and is in the process of developing HCVs range with a weight capacity ranging between 16 tonnes to 50 tonnes. The company recently established a manufacturing facility for HCV at Pithampur near Indore in Madhya Pradesh.
Force Motors swung to a loss for the quarter ending in Sep. 2006. During the quarter, the company experienced a loss of Rs 68 million as compared with a profit of Rs 37.53 million in the corresponding quarter of the previous year. Sales for the quarter declined 0.17% to Rs 2,438.26 million compared with the corresponding quarter, a year ago. The company had posted more than ten-fold net profit growth at Rs 301.34 million for the year ended Mar. 2006 as against Rs 27.19 million for the year ended Mar. 2005. Force motor`s EPS stood at Rs 22.87 for FY06.
Future Plans
Force is likely to transfer assets and liabilities of its HCV division to the its subsidiary Man Force Trucks and also plans to invest Rs 1 billion in it. The company also has plans to form a joint venture with Germany-based Neoman bus group for making bus coaches.