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FORCE MOTORS

Force Motors Limited is a holding company. The Company is engaged in manufacturing light
commercial vehicles and utility vehicles, and engines. It is an automobile company, with a focus
on design, development, and manufacture of a range of automotive components, aggregates,
and vehicles. Its product range includes Small Commercial Vehicles, Multi-Utility Vehicles
(MUV), Light Commercial Vehicles (LCV), Sports Utility Vehicles (SUV) and Agricultural Tractors.
Its personal vehicles include Force Gurkha and Force One. Its Commercial vehicles include
Passenger Carrier, such as Trax GAMA, Trax Cruiser, Trax Toofan and Trax Cruiser, and Goods
Carrier, such as Trump 40, Trump 40 Hi-Deck, Trax Delivery Van, Traveller Delivery Van and Trax
Kargo-King. Its Agricultural Vehicles include Balwan and Orchard. It also offers Traveller Super
with approximately 1.8-meter width, and the Traveller Royale with over 2.2 meter width, with
various configurations and seating capacities.

Shareholding pattern of force motors


Holder's Name No of Shares % Share Holding

No of Shares 13176262 100%

Promoters 8120347 61.63%

Foreign Institutions 442346 3.36%

NBanksMutualFunds 184071 1.4%

Others 759747 5.77%

General Public 3588587 27.24%

Financial Institutions 81164 0.62%

Management of the company


Name Designation Name Designation
Executive Director -
Abhaykumar Firodia Chairman Prashant V Inamdar
Operations
Indira Parikh Director Sudhir Mehta Director
Pratap Pawar Director S Padmanabhan Director
Arun Sheth Director Nitin Desai Director
Arvind Mahajan Director Anant Talaulicar Director
D B Shekatkar Director    

SWOT ANALYSIS
Strengths: -
 Company with low debts.
 Book value per share improving for last 2 years.
 Company with zero promoter pledge.
 MF’s increased their shareholding pattern.

Weakness: -
 Inefficient use of shareholder funds.
 Inefficient use of shareholder funds.
 Degrowth in revenue profit.
 Decline in net profit.
 Decline in quarterly net profit.
 Decline in net profit with falling profit margin.
 Decline in quarterly net profit with falling profit margin.
 Degrowth I quarterly revenue and profit in recent results.
 Major fall in TTM net profit.
 Fall in quarterly revenue and net profit.
 
Opportunity: -

 Rising delivery percentage to previous day.


 Positive breakout first resistance.
 Expert stock screener: Benjamin graham valve screen.

Threats: -
 Increasing trend in non-core income.
Others: -
 Average affordability – stocks with medium trendline valuation score versus benchmark.
 Average financial performance – stocks with medium trendline durability score versus
benchmarks.
 RSI indicating price weakness.
COMPETITOR ANALYSIS OF FORCE MOTORS

Type Public
Type Public

Traded as
BSE: 505200 BSE: 500477
Traded as NSE: ASHOKLEY
NSE: EICHERMOT
NSE NIFTY 50 Constituent
ISIN INE208A01029 
ISIN INE066A01013
Industry Automotive Commercial
Industry Automotive
Founded 7 September 1948
Founded 1948; 72 years ago
Headquarters Chennai, Tamil Nadu, India
Founder Vikram Lal
Area served Worldwide
Headquarters New Delhi

Key people Revenue  ₹21,332 crore (US$3.0 billion) (2016)


Siddhartha Lal (CEO & MD)

Net income  ₹1,223 crore (US$170 million) (2016)


Products Commercial vehicles, engines

Production output  58,604 units (2016) Number of employees 11,906 (2016)[1]

 ₹9,315.85 crore (US$1.3 billion) Parent Hinduja Group


Revenue
(2016)

Operating income  ₹443.91 crore (US$62 million) Subsidiaries


Albonair GmbH
(2016) Global TVS Bus Body Builders Limited
Optare
Hinduja Leyland Finance
Hinduja Tech
Lanka Ashok Leyland[2]

Net income  ₹348.29 crore (US$49 million) Website www.ashokleyland.com

(2016)

Owner Siddhartha Lal

Subsidiaries Eicher Polaris (50%)


VE Commercial
Vehicles (54.4%)
Royal Enfield (India)

Website www.eicher.in

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