Tag: SML Isuzu

SML Isuzu Q1 profit jumps multi-fold to Rs 32 crore; shares rally 17%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Commercial vehicle manufacturer SML Isuzu on Friday reported reported a multi-fold rise in net profit to Rs 31.79 crore. This was an increase of 1258 percent year-on-year (YoY), compared to just Rs 2.34 crore in the April-June quarter of last fiscal, the company said in a regulatory filing.

The company’s revenue from operations rose 26 percent to Rs 631.61 crore during the quarter under review. It was Rs 500 crore in the year-ago period.

SML Isuzu also informed the stock exchanges that its 39th annual general meeting of the company will be held on September 15, 2023 (Friday).

In a recent update, the company said that it sold 1,250 units in July, up 23 percent from the year-ago period. Category-wise, the company reported a 34 percent YoY increase in passenger vehicle sales, while cargo vehicle sales were down 2 percent.

The uptick in sales numbers for July comes after a 3 percent YoY decline in the previous month.

SML Isuzu, a jointly owned entity of the Japanese Sumitomo Corporation-Isuzu Motors and the Indian entity Swaraj vehicles, makes commercial vehicles like trucks and buses. The vehicle-maker operates out of its factory in Punjab’s Nawanshahr with a production capacity of 24,000 units per annum.

At 2:16 pm, shares of SML Isuzu Ltd soared 14 percent to trade at Rs 1,246 apiece after the company disclosed its financial results. The stock rose 17.5 percent to hit an intra-day high of Rs 1,289.70 apiece from day’s low of Rs 1097.45.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

JBM Auto top contender to acquire controlling stake in SML Isuzu: Exclusive

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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JBM Auto Ltd. is the leading contender to acquire controlling stake in commercial vehicle manufacturer SML Isuzu Ltd., sources with knowledge of the matter told CNBC-TV18.

Sumitomo Corporation, SML Isuzu’s Japanese promoters are looking to exit its India operations, sources said. Sumitomo Corporation held 43 percent stake in SML Isuzu as of the March quarter.

Talks between the two companies are at an advanced stage and the process of due diligence has begun, the sources said, adding that JBM Auto is looking at multiple options for acquiring the controlling stake, including cash and a share swap deal.

The deal is likely to value SML Isuzu at a premium to the current market price.

Isuzu Motors owns a 15 percent stake in SML Isuzu. Both JBM Auto and SML Isuzu are yet to respond to CNBC-TV18’s queries.

Shares of JBM Auto ended little changed at Rs 987.30, while those of SML Isuzu ended 3 percent higher at Rs 1,152.95.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

March Auto Sales: SML Isuzu reports 59% rise in retail sales

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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SML Isuzu on Saturday announced its sales figure for March 2023 and reported a 59 percent rise in total sales at 2,169 units as against 1,363 units sold in the corresponding month last year.

The company’s annual sales rose by 68 percent in FY23 at 12,442 units against 7,392 units sold in FY22.

Besides, SML Isuzu’s cargo vehicle sales dropped by 44 percent to 391 units in March 2023 as against 698 units sold in March 2022. However, the sales volume of passenger vehicles jumped 167 percent at 1,778 units against 665 units sold last year.

Also Read: Maruti posts its highest total annual sales riding on uptick in exports

The company sold 4,158 units of cargo vehicles in FY23, down by 22 percent, against 5,300 units sold in FY22. However, the sales of passenger vehicles jumped by 296 percent to 8,284 units in FY23 against 2,092 units sold in the last financial year.

SML Isuzu, earlier on March 28, 2203, said that it will hike the prices of its trucks and buses by 4 percent and 6 percent respectively from April 1, 2023.

Also Read: March Auto Sales: Hyundai sales up 11%, records highest-ever dispatches in FY23

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

SML Isuzu to hike prices of its truck and bus models by 4-6% from April 1 – Shares rise

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Commercial vehicles manufacturer SML Isuzu Ltd. gained nearly 3 percent in morning trade on Wednesday after the company announced that it will increase the prices of its buses and trucks by 4-6 percent from April 1.

The prices of truck models will be hiked by up to 4 percent and bus models by up to 6 percent, the company said in a filing to the stock exchanges on Tuesday.

The decision has been taken to cover the increase in input cost due to new compliances – BS-VI Integrated on-Board Diagnostic II and Electronic Stability Control for buses and general inflation. The new norms will be implemented from April 1, 2023.  .

The company in the month of February 2023 sold 953 vehicles against 714 units in the year earlier, registering a growth of 33 percent.

From 631 units in February this year to 147 units in February 2022, passenger vehicles sales have surged by 329 percent. Cargo vehicle sales, on the other hand, dropped 43 percent to 322 units from 567 units a year ago.

During the April-February period of the current financial year, the company sold 10,273 units as compared to 6,029 in the year ago period, translating to a growth of 70 percent.

Founded in 1985, SML Isuzu manufactures light and medium commercial vehicles.

Japanese companies –Sumitomo Corporation and Isuzu Motors– own 43.96 percent and 15 percent stake in the company, respectively, as of December quarter, latest shareholding data with the BSE showed.

Shares of SML Isuzu are trading 2.8 percent higher at Rs 708.65.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

SML Isuzu shares rally over 18% on product price hike

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of SML Isuzu rallied 18 percent to Rs 697 on the BSE during Monday’s intra-day trade after the company decided to increase the prices of its products by 3-4 percent, across all models – trucks & buses, effective from today.

At 1:15 am, shares of the commercial vehicles manufacturer were trading at Rs 672.50, up 83.15 points or 14.11 percent higher on the BSE.

The share touched a 52-week high of Rs 842.80 and a 52-week low of Rs 430.05 on 11 November 2021 and 12 April 2021, respectively. Currently, it is trading 20.18 percent below its 52-week high and 56.42 percent above its 52-week low.

According to an exchange filing with the BSE, Isuzu said, “While the Company is taking actions to absorb the impact of sharp increase in commodity prices and other input costs, the upward revision has been necessitated to partially offset the impact of increased costs.”

The company in the month of March 2022 sold 1,363 units against 952 units in March 2021, a growth of 43 percent. From 273 units in March 2021 to 665 units in March 2021, passenger car sales have more than doubled.

Cargo vehicle sales, on the other hand, increased by 3 percent to 698 units from 679 units a year ago.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

SML Isuzu locked in upper circuit post robust February sales

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of SML Isuzu was locked in 20 percent upper circuit at Rs 682.55 after the car manufacturer posted strong February sales number. The stock has rallied 23 percent in last the 15 trading sessions.

In February, the company delivered 33 percent year-on-year (Y-o-Y) growth at 1,282 vehicles as against 965 vehicles in the corresponding period last year. The company had reported only a 6.3 percent YoY growth in the month of January

The company’s market capitalisation, currently,  stands at Rs 820 crore with book value of Rs 283.25. It’s dividend payout ratio stands the highest in 2018 at 31 percent. The stock P/E is 65.96 while return on equity (RoE) is 2.10 percent.

SML Isuzu is a vehicle manufacturer which was established in 1983. Sumitomo Corporation and Isuzu Motors hold 44 percent and 15 percent stake respectively, in the company.

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3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow