The company also registered growth of 243% in Exports
Bengaluru, 12th August 2021: Force Motors Limited registered a sales growth of 172% in the domestic market and 243% in exports during April – July 2021. The company sold (domestic plus exports) 6,486 units in the period April to July 2021 as compared to 2,311 units sold in the first four months of the previous year.
EBITDA for the quarter ended June 30, 2021 stood at Rs. 51 Cr. as against Rs. (44) Cr. for the quarter ended June 30, 2020, indicating a growth of 214%.
The company continued to consolidate its leadership position in the Large Vans segment. It witnessed growth on the back of bulk purchases of its Ambulance range made by various state governments, hospitals and service providers to enhance the healthcare infrastructure. The All-new Trax Ambulance was well received and is establishing itself as the “best value for money” patient transport ambulance on account of its rugged build and all terrain capability.
Speaking on the company’s sales performance, Mr. Prasan Firodia, Managing Director, Force Motors Ltd. said, “The pandemic severely impacted our key segments like tour and travel, staff transport and school bus which have still not revived. We salvaged the situation by quickly responding to the urgent need of strengthening the healthcare infrastructure in the country. Despite restrictions imposed by the lockdown, we ramped up our ambulance production capacity five-fold and executed multiple triple-digit requirements from order to delivery in less than a week. We also initiated actions to acquire a broader consumer base and increase our reach through various digital platforms. These efforts made in the previous quarters have yielded positive results”.
About Force Motors Limited
Force Motors was established in 1958 by Shri N. K. Firodia, with the vision to provide affordable commercial transport for the masses by harnessing the best available technology and offering economical, reliable, and efficient products.
Today, Force Motors is a fully vertically integrated automobile company manufacturing automotive components, aggregates, vehicles, and agricultural tractors. Its ‘Traveller’ and ‘Trax’ vehicle ranges are market leaders in their respective segments.
Force Motors is the flagship of the company group headed by Dr Abhay Firodia which has 15 manufacturing units across the country and a 12,000-strong workforce.
Force Motors is the only company in the world that produces engines for both Mercedes and BMW. In March 2018, it entered into a JV with Rolls-Royce Power Systems AG to manufacture in India and supply worldwide their 10/12-cylinder S1600 engines (545 to 1050hp) for power generation and under floor rail applications.