SML Isuzu gets locked in the upper circuit after reporting a 37% rise in December sales

SML Isuzu gets locked in the upper circuit after reporting a 37% rise in December sales

Indian Market
by 5paisa Research Team Last Updated: 2023-01-02T17:33:57+05:30

Today, the stock opened at Rs 676.95 and has touched a high and low of Rs 810.50 and Rs 676.95, respectively.

On January 2, shares of SML Isuzu closed at its upper limit of Rs 810.50, up by 135.05 points or 19.99% from its previous closing of Rs 675.45 on the BSE.

SML Isuzu sold 959 vehicles in December 2022, up from 701 in December 2021, a YoY growth of 36.80%. Furthermore, the company sold 8549 units from April to December 2022, compared to 4706 units from April to December 2021, representing a YoY growth of 81.66%.

On a segment-wise basis, the company's passenger vehicle sales in December 2022 were 570 units, up 161.47% YoY. Cargo vehicle sales, on the other hand, were 389 units, down 19.46% YoY.

SML Isuzu Limited was founded in 1983 as Swaraj Vehicles Ltd and was promoted by Punjab Tractors Ltd with technical assistance from Mazda Motor Corporation of Japan and Sumitomo Corporation of Japan. In 2004, the technical collaboration agreement with Mazda expired, and it sold its entire stake to Sumitomo Corporation while also signing a technical assistance agreement with Isuzu Motors. It was renamed SML ISUZU in 2011, and Sumitomo Corporation (Japan) and Isuzu Motors (Japan) own 44% and 15%, respectively.

The promoters holding in the company stood at 43.96%, while Institutions and Non-Institutions hold 1.76% and 54.28%, respectively.

The company now manufactures a range of vehicles such as trucks, buses and ambulances. The company has launched products like 4WD, Samrat, Sartaj, Dual Cab, Supreme-8 toner, Truck- Super 12, Super ALFD and others.

The BSE group 'B' stock of face value of Rs 10 has touched a 52-week high and low of Rs 887.80 and Rs 470.90, respectively. Last one week high and low of the scrip stood at Rs 810.50 and Rs 625.00, respectively. The current market cap of the company is Rs 1172.93 crore.

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