Cash flow Force Motors Limited

Equities

FORCEMOT

INE451A01017

Auto & Truck Manufacturers

Market Closed - Bombay S.E. Other stock markets 06:18:59 2024-09-06 am EDT			5-day change	1st Jan Change
7,708.75 ^INR	-3.69%		-7.29%	+112.89%

Sep. 06	Force Motors Posts 24% Decline in Total Sales in August	MT
Aug. 06	Force Motors Posts 3% Decline in Commercial Vehicle Sales in July	MT

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Published financial data: FORCE MOTORS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	30.81B	19.88B	32.4B	50.29B	69.92B
Other Revenues, Total	-	125M	246M	-	-
Total Revenues	30.81B	20.01B	32.65B	50.29B	69.92B
Cost of Goods Sold, Total	21.16B	13.82B	25.6B	38.89B	50.76B
Gross Profit	9.64B	6.18B	7.05B	11.4B	19.16B
Selling General & Admin Expenses, Total	4.33B	3.63B	3.84B	4.46B	5.72B
Depreciation & Amortization - (IS)	1.94B	1.73B	1.91B	2.4B	2.66B
Other Operating Expenses	2.6B	2.02B	2.25B	2.92B	4.12B
Other Operating Expenses, Total	8.87B	7.39B	8B	9.79B	12.5B
Operating Income	769M	-1.21B	-946M	1.61B	6.66B
Interest Expense, Total	-268M	-276M	-407M	-683M	-611M
Interest And Investment Income	240M	42.9M	19.2M	21.3M	95.2M
Net Interest Expenses	-28.5M	-233M	-388M	-662M	-516M
Income (Loss) On Equity Invest.	-82.1M	-120M	-167M	-186M	-138M
Currency Exchange Gains (Loss)	24.9M	27.2M	200M	-110M	67M
Other Non Operating Income (Expenses)	124M	-3.9M	-3M	-900K	-10.1M
EBT, Excl. Unusual Items	808M	-1.54B	-1.3B	652M	6.06B
Gain (Loss) On Sale Of Assets	3.2M	-222M	7.2M	-11.2M	-12.8M
Asset Writedown	-	-	-	-1B	-
Other Unusual Items	-391M	-	-	3.08B	-
EBT, Incl. Unusual Items	420M	-1.76B	-1.3B	2.72B	6.05B
Income Tax Expense	-82.6M	-523M	-386M	1.39B	2.17B
Earnings From Continuing Operations	503M	-1.24B	-910M	1.34B	3.88B
Net Income to Company	503M	-1.24B	-910M	1.34B	3.88B
Minority Interest	-1M	-900K	-900K	-1M	-1.2M
Net Income - (IS)	502M	-1.24B	-911M	1.34B	3.88B
Net Income to Common Incl Extra Items	502M	-1.24B	-911M	1.34B	3.88B
Net Income to Common Excl. Extra Items	502M	-1.24B	-911M	1.34B	3.88B
Per Share Items
Net EPS - Basic	38.08	-93.83	-69.12	101.42	294.54
Basic EPS - Continuing Operations	38.08	-93.83	-69.12	101.42	294.54
Basic Weighted Average Shares Outstanding	13.18M	13.18M	13.18M	13.18M	13.18M
Net EPS - Diluted	38.08	-93.83	-69.12	101.42	294.54
Diluted EPS - Continuing Operations	38.08	-93.83	-69.12	101.42	294.54
Diluted Weighted Average Shares Outstanding	13.18M	13.18M	13.18M	13.18M	13.18M
Normalized Basic EPS	38.23	-72.93	-61.9	30.86	287.52
Normalized Diluted EPS	38.23	-72.93	-61.9	30.86	287.52
Dividend Per Share	10	5	10	10	20
Payout Ratio	26.27	-10.66	-7.24	9.86	3.4
Supplemental Items
EBITDA	2.65B	481M	922M	3.98B	9.3B
EBITA	1.06B	-818M	-544M	2.25B	7.37B
EBIT	769M	-1.21B	-946M	1.61B	6.66B
EBITDAR	2.68B	511M	952M	4.07B	9.46B
Total Revenues (As Reported)	31.23B	20.13B	32.92B	50.91B	-
Effective Tax Rate - (Ratio)	-19.66	29.75	29.81	50.91	35.84
Total Current Taxes	90.5M	1M	1M	522M	1.15B
Total Deferred Taxes	-173M	-524M	-387M	865M	1.02B
Normalized Net Income	504M	-961M	-816M	407M	3.79B
Interest Capitalized	-	30.7M	78.2M	51.7M	8.3M
Non-Cash Pension Expense	4.7M	2.7M	-1.5M	-6.8M	-7.5M
Supplemental Operating Expense Items
Advertising Expense	230M	86.4M	129M	154M	222M
Selling and Marketing Expenses	230M	86.4M	129M	154M	222M
General and Administrative Expenses	-	-	-	-	-
Research And Development Expense From Footnotes	1.19B	1.51B	1.46B	2.09B	2.42B
Net Rental Expense, Total	30.2M	30.8M	30.7M	86.1M	162M
Imputed Operating Lease Interest Expense	21.76M	15.88M	13.94M	50.02M	109M
Imputed Operating Lease Depreciation	8.44M	14.92M	16.76M	36.08M	53.5M
Maintenance & Repair Expenses, Total	295M	217M	237M	274M	337M

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	664M	347M	721M	1.4B	4.48B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	664M	347M	721M	1.4B	4.48B
Accounts Receivable, Total	1.69B	1.26B	1.89B	1.97B	1.04B
Other Receivables	73.6M	630M	2.4M	2.53B	2.02B
Notes Receivable	13.6M	6.2M	1M	3.8M	200K
Total Receivables	1.77B	1.9B	1.9B	4.5B	3.06B
Inventory	5.52B	5.58B	6.37B	8.27B	11.63B
Other Current Assets, Total	2.32B	997M	1.28B	1.48B	1.28B
Total Current Assets	10.27B	8.82B	10.27B	15.65B	20.46B
Gross Property Plant And Equipment	27.79B	28.87B	33.69B	34.54B	35.96B
Accumulated Depreciation	-14.44B	-15.06B	-16.44B	-18.11B	-19.99B
Net Property Plant And Equipment	13.36B	13.81B	17.24B	16.43B	15.97B
Long-term Investments	779M	999M	1.11B	973M	910M
Goodwill	100K	100K	100K	100K	100K
Other Intangibles, Total	5.04B	5.62B	6.06B	5.98B	5.99B
Loans Receivable Long-Term	100K	200K	100K	-	-
Deferred Tax Assets Long-Term	70.7M	576M	941M	58.5M	-
Other Long-Term Assets, Total	1.46B	2.55B	991M	1.04B	823M
Total Assets	30.98B	32.38B	36.61B	40.13B	44.15B
Liabilities
Accounts Payable, Total	5.8B	5.84B	5.17B	7.45B	8.54B
Accrued Expenses, Total	270M	329M	1.5B	1.76B	2.68B
Short-term Borrowings	472M	300M	2.1B	950M	-
Current Portion of Long-Term Debt	750M	1.19B	2.58B	2.65B	1.43B
Current Income Taxes Payable	-	-	-	383M	-
Unearned Revenue Current, Total	1.52B	613M	838M	1.52B	3.3B
Other Current Liabilities	294M	467M	636M	380M	413M
Total Current Liabilities	9.11B	8.74B	12.83B	15.09B	16.36B
Long-Term Debt	1.88B	4.94B	6.01B	5.95B	3.82B
Pension & Other Post Retirement Benefits	300M	292M	265M	280M	317M
Deferred Tax Liability Non Current	-	-	-	-	1.03B
Other Non Current Liabilities	22.4M	11.6M	14M	38.8M	48M
Total Liabilities	11.31B	13.98B	19.11B	21.36B	21.57B
Common Stock, Total	132M	132M	132M	132M	132M
Additional Paid In Capital	592M	592M	592M	592M	592M
Retained Earnings	18.82B	17.46B	16.52B	17.75B	21.48B
Comprehensive Income and Other	110M	190M	235M	280M	347M
Total Common Equity	19.65B	18.38B	17.48B	18.75B	22.55B
Minority Interest	18.1M	19M	19.9M	20.9M	22.1M
Total Equity	19.67B	18.4B	17.5B	18.77B	22.57B
Total Liabilities And Equity	30.98B	32.38B	36.61B	40.13B	44.15B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	13.18M	13.18M	13.18M	13.18M	13.18M
ECS Total Common Shares Outstanding	13.18M	13.18M	13.18M	13.18M	13.18M
Book Value / Share	1.49K	1.39K	1.33K	1.42K	1.71K
Tangible Book Value	14.61B	12.76B	11.42B	12.77B	16.57B
Tangible Book Value Per Share	1.11K	968.57	866.89	969.13	1.26K
Total Debt	3.1B	6.42B	10.69B	9.55B	5.24B
Net Debt	2.43B	6.08B	9.97B	8.14B	763M
Debt Equivalent of Unfunded Proj. Benefit Obligation	78.5M	20.9M	-56.9M	-76.4M	-25.1M
Debt Equivalent Oper. Leases	242M	246M	246M	689M	1.3B
Minority Interest, Total (Incl. Fin. Div)	18.1M	19M	19.9M	20.9M	22.1M
Equity Method Investments, Total	666M	796M	854M	668M	530M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	3.69B	3.51B	4.68B	6.45B	8.6B
Inventories - Work In Process, Total	572M	523M	672M	869M	1.09B
Inventories - Finished Goods, Total	953M	1.27B	741M	623M	1.47B
Inventories - Others	298M	275M	276M	321M	467M
Land - (BS)	342M	342M	342M	342M	342M
Buildings, Total	3.17B	3.19B	3.34B	3.44B	3.49B
Machinery, Total	22.53B	21.65B	28.44B	30.36B	31.87B
Full Time Employees	4.74K	5.12K	3.93K	5.1K	4.47K
Assets on Operating Lease - Gross	-	-	-	-	-
Assets on Operating Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	4M	4M	4M	4M	-

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	502M	-1.24B	-911M	1.34B	3.88B
Depreciation & Amortization - CF	1.58B	1.3B	1.47B	1.74B	1.93B
Amortization of Goodwill and Intangible Assets - (CF)	293M	388M	402M	638M	710M
Depreciation & Amortization, Total	1.88B	1.69B	1.87B	2.37B	2.64B
Amortization of Deferred Charges, Total - (CF)	67.6M	49.5M	42.2M	33.8M	26.8M
(Gain) Loss From Sale Of Asset	-900K	222M	-7.2M	11.3M	12.7M
Asset Writedown & Restructuring Costs	-	-	-	1B	-
(Income) Loss On Equity Investments - (CF)	81.7M	120M	166M	184M	136M
Provision and Write-off of Bad Debts	-	-	-	-	-
Other Operating Activities, Total	-144M	-314M	26M	2.29B	1.21B
Change In Accounts Receivable	-19.1M	434M	-634M	-74.6M	928M
Change In Inventories	-499M	-86.9M	-797M	-1.97B	-3.37B
Change In Accounts Payable	1.82B	47.2M	761M	2.24B	1.09B
Change in Other Net Operating Assets	402M	-849M	-334M	-2.11B	3.59B
Cash from Operations	4.09B	73.4M	179M	5.32B	10.14B
Capital Expenditure	-4.58B	-4.53B	-4.07B	-2.6B	-2.08B
Sale of Property, Plant, and Equipment	6.4M	8M	658M	20.1M	35.1M
Investment in Marketable and Equity Securities, Total	1.09B	1.1B	-223M	-	-
Other Investing Activities, Total	217M	103M	1.6M	10.4M	73.7M
Cash from Investing	-3.27B	-3.33B	-3.64B	-2.56B	-1.98B
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	238M	3.35B	4.29B	-	-
Total Debt Issued	238M	3.35B	4.29B	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-	-	-	-1.21B	-4.31B
Total Debt Repaid	-	-	-	-1.21B	-4.31B
Common Dividends Paid	-132M	-132M	-65.9M	-132M	-132M
Common & Preferred Stock Dividends Paid	-132M	-132M	-65.9M	-132M	-132M
Other Financing Activities, Total	-304M	-281M	-400M	-724M	-652M
Cash from Financing	-197M	2.93B	3.83B	-2.07B	-5.09B
Net Change in Cash	621M	-318M	370M	684M	3.08B
Supplemental Items
Cash Interest Paid	277M	281M	400M	724M	652M
Cash Income Tax Paid (Refund)	190M	27.5M	-23.9M	34.3M	1.52B
Levered Free Cash Flow	1.1B	-3.23B	-3.19B	-960M	6.07B
Unlevered Free Cash Flow	1.27B	-3.05B	-2.94B	-533M	6.45B
Change In Net Working Capital	-3.42B	-497M	183M	1.35B	-1.71B
Net Debt Issued / Repaid	238M	3.35B	4.29B	-1.21B	-4.31B

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	1.62	-2.38	-1.71	2.62	9.88
Return on Total Capital	2.14	-3.17	-2.23	3.56	14.83
Return On Equity %	2.58	-6.49	-5.07	7.37	18.78
Return on Common Equity	2.57	-6.5	-5.08	7.38	18.79
Margin Analysis
Gross Profit Margin %	31.3	30.9	21.59	22.67	27.41
SG&A Margin	14.06	18.15	11.76	8.88	8.18
EBITDA Margin %	8.59	2.4	2.82	7.92	13.3
EBITA Margin %	3.45	-4.09	-1.67	4.47	10.54
EBIT Margin %	2.5	-6.03	-2.9	3.2	9.53
Income From Continuing Operations Margin %	1.63	-6.17	-2.79	2.66	5.55
Net Income Margin %	1.63	-6.18	-2.79	2.66	5.55
Net Avail. For Common Margin %	1.63	-6.18	-2.79	2.66	5.55
Normalized Net Income Margin	1.64	-4.8	-2.5	0.81	5.42
Levered Free Cash Flow Margin	3.57	-16.12	-9.78	-1.91	8.68
Unlevered Free Cash Flow Margin	4.11	-15.26	-9	-1.06	9.23
Asset Turnover
Asset Turnover	1.04	0.63	0.95	1.31	1.66
Fixed Assets Turnover	2.42	1.47	2.1	2.99	4.32
Receivables Turnover (Average Receivables)	18.38	13.49	20.55	26.04	46.47
Inventory Turnover (Average Inventory)	4.01	2.49	4.28	5.31	5.1
Short Term Liquidity
Current Ratio	1.13	1.01	0.8	1.04	1.25
Quick Ratio	0.27	0.26	0.2	0.39	0.46
Operating Cash Flow to Current Liabilities	0.45	0.01	0.01	0.35	0.62