 "Force Motors sets sights on defence sector")
"Defence is definitely a good opportunity. We are already supplying paramilitary ambulances to the armed forces since the last one year. We have the capabilities to customise our vehicles for troops movement etc, and will make an entry into this segment as and when the demand comes," he told mediapersons here on Monday.
Announcing the launch of Force Traveller 26 School Bus in the Hyderabad market, Khosla said the company grew 22% in the 9-to-20-seater bus category, taking its market share from the earlier 51% to 61% now. The company has a market share of 21% in the 26-seater bus category.
Players like Ashok Leyland, Tatas and Swaraj Mazda operate in the 9-to-20-seater bus category, the market for which is currently pegged at 17,000 units a year. Force Motors has a cumulative market share of 40% in the 9-to-20 and 26/34-seater school bus segment in India.
Stating that the company had launched three vehicles - Traveller 26, Traveller 26 (super luxury) and Traveller 26 School Bus - so far this financial year, Khosla said they were making a segment-wise approach (tours and travel, schools, and employee movement) to push sales.
"We currently have a capacity to churn out 33,000 commercial vehicles a year from our Pithampur plant in Madhya Pradesh. While we sold 20,000 units last year, we are aiming at selling 23,000 units this fiscal," he said, adding that the Pithampur plant has scope to be expanded anytime now, without making any further investments.
Force Motors Limited's scrip is currently trading at Rs 1,218 on the BSE, down 0.05%, over the previous close of Rs 1,218.60 a share.