On September 1, SML Isuzu saw its shares decline by 3% as the company reported flat sales for August. In August, they sold 1,005 units, compared to 1,002 vehicles in the same period the previous year. While cargo vehicle sales experienced a 6% year-on-year (YoY) decrease, passenger vehicle sales showed a 3% increase.
This decline in sales comes after an impressive 23% year-on-year increase in vehicle sales in the preceding month. In the first quarter of FY24, SML Isuzu reported a substantial 26.4% YoY growth in revenue from operations, totaling Rs 632 crore. Their net profit also surged to Rs 32 crore from Rs 2 crore in the year-ago period.
Furthermore, the company achieved a 400 basis point expansion in operating profit margins, reaching 7% on a yearly basis. (Note: One basis point is equivalent to one-hundredth of a percentage point.)
SML Isuzu's stock closed at Rs 1,308.45 on the National Stock Exchange, marking a decrease of Rs 39.90 or 2.96% from the previous day's closing price.
SML Isuzu, a jointly owned entity of the Japanese Sumitomo Corporation-Isuzu Motors and the Indian entity Swaraj Vehicles, specializes in the manufacturing of commercial vehicles, including trucks and buses. The company operates a production facility in Punjab's Nawanshahr, with an annual production capacity of 24,000 units.
This decline in sales comes after an impressive 23% year-on-year increase in vehicle sales in the preceding month. In the first quarter of FY24, SML Isuzu reported a substantial 26.4% YoY growth in revenue from operations, totaling Rs 632 crore. Their net profit also surged to Rs 32 crore from Rs 2 crore in the year-ago period.
Furthermore, the company achieved a 400 basis point expansion in operating profit margins, reaching 7% on a yearly basis. (Note: One basis point is equivalent to one-hundredth of a percentage point.)
SML Isuzu's stock closed at Rs 1,308.45 on the National Stock Exchange, marking a decrease of Rs 39.90 or 2.96% from the previous day's closing price.
SML Isuzu, a jointly owned entity of the Japanese Sumitomo Corporation-Isuzu Motors and the Indian entity Swaraj Vehicles, specializes in the manufacturing of commercial vehicles, including trucks and buses. The company operates a production facility in Punjab's Nawanshahr, with an annual production capacity of 24,000 units.
