The Board of Directors of Force Motors Limited adopted and approved the Audited Financial Results for the quarter and year ended 31st March, 2016, today.
The Company has shown remarkable performance for FY 2015-16. The gross turnover was Rs. 3485 Crs as compared to Rs. 2639 Crs in the past year. Business of the Company has grown by 32% over the past year.
The overall profit before tax amounted to Rs. 249 Crs as compared to the previous year’s profit before tax of Rs. 125 Crs, showing a percentage increase of almost 100%.
The EBITDA for the FY 2015-16 has gone up from Rs. 213 crores to Rs. 346 crores which is 62% higher as compared to last FY 2014-15.
Traveller, Trax and Tractor categories all contributed to the growth. The company continues to focus in the utilitarian and rural vehicles. The growth in tractors has been achieved on 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 at 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 rural economy is favourable.