HDFC Securities
Force Motors (FML) 4Q numbers were marked by better operational performance (despite revenue being below estimates from the sub-contracting business). The trajectory of margin recovery (at 11% vs exp of 8.4% QoQ) was encouraging. EBITDA at Rs 919mn (-14% YoY, 218% QoQ), benefitted from lower `other operating expenses (-102bps YoY).
Force Motors Ltd. is trading at high volume of 20481.00000 with price gain of 5.65.
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