Force Motors Update : (AGM Key Takeaways)
I didn’t attend the AGM but this is what the people had to say who attended :
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Management has guided for around 15-20% volume growth in OEM business for next 2-3 years.
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Urbania exports to start by early 2024, Urbania-electric to be launched by mid-2024.
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Guidance of around 15% growth in Engine business (to BMW,Mercedes) for next 2-3 years.
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JV with MTU (subsidiary of Rolls Royce) to achieve breakeven this year ; guidance of 500cr annual revenue in JV (in short term).
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Consol operating margins can sustain in double digits.
D – Holding from lower levels, not a buy/sell reco.
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