Eicher Motors reported healthy set of numbers which were in line with our estimates. Its consolidated net revenue and net profit grew by 27.3% and 22.4% yoy respectively. The company sold 2,25,361 units of RE in Q1FY19 up by 22% yoy. Also the performance of its JV with Volvo group (VE commercial vehicles) reported strong growth with total volumes up 40.9% yoy and improvement in profitability.