Sales of SCVs and LCVs were 5.5% lower at 812 units in November 2017 vs. 859 units in November 2016. Sales of UVs, SUVs and Tractors at 875 units in November 2017 were 15% higher than the figure of 763 units sold in November 2016.
Exports, which constitute a small percentage (3%) of overall volumes were up 73% at 52 units in November 2017 vs. 30 units in November 2016.
The stock of FML was flattish (+0.10%) in response to its volume numbers, trading at Rs3,270/share at 10:18am. The stock attracted a total traded quantity of 20,000. The company has seen its consolidated revenues and PAT grow at 15% and 32% CAGR respectively over past three years and is almost debt-free.
FML is engaged in manufacturing light commercial vehicles, 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.
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