Eicher Motors Ltd.

NSE: EICHERMOT | BSE: 505200 | ISIN: INE066A01013 |Industry: 2/3 Wheelers
|Expensive Performer
Durability score
50 /100
Valuation score
14.3 /100
Momentum score
39.6 /100
Market Capitalizati...
58,355.1 Cr.
AVG Broker Target
25,505.9
PE TTM Price to Ear...
31.4
Eicher Motors Ltd.    
15 Mar 2019
21399.00
0.29%
HDFC Securities
We reinstate coverage with a SELL and have a target price of Rs 21,000 based on SOTP. Multiple factors are likely to impact the growth outlook at Eicher. After witnessing robust growth over CY12-FY18, when earnings grew at 46% CAGR, we believe earnings growth will moderate to 10% CAGR over FY19-21E as lifestyle segment growth normalizes in India, competition steps in and export initiatives take time to pay off.
Eicher Motors Ltd. is trading above it's 50 day SMA of 20726.82
Eicher Motors Ltd.    
21 Feb 2019
21399.00
0.29%
BOB Capital Markets Ltd.
Growth seems to be the overwhelming concern for MPC members as global and domestic slowdown bites. It has gained a pre-eminence as inflation is well within RBI's durable target of 4%. A muted global growth bodes well for domestic inflation as oil prices should remain at current levels. Global and domestic food inflation outlook is also benign. Inflation has continued to decelerate even in Jan'19. A disappointing Q3GDP and benign Feb'19...
Eicher Motors Ltd. is trading below it's 100 day SMA of 21766.12
Eicher Motors Ltd.    
19 Feb 2019
21399.00
0.29%
Emkay
RE's domestic volumes declined 5% yoy in Q3, led by declines in major states such as Tamil Nadu (-37%), Kerala (-24%), Gujarat (-25%), Maharashtra (-15%), Karnataka (-9%), and Andhra Pradesh (-11%). The number of states witnessing a decline has increased...
Eicher Motors Ltd. has lost -23.58% in the last 6 Months
Eicher Motors Ltd.    
15 Feb 2019
21399.00
0.29%
SMC online
In the quarter ended December 2018, Royal Enfield's total revenue from operations rose 3% to Rs. 2,341 crore, compared to Rs. 2,269 crores in the same period last year; Operating margin (OPM) went down by 168 bps to 29.03% and the Operating profit was Rs. 679.53 crores, down by 2% compared to Rs 696.81 crores in the same period last year. The other income went up by 57% to Rs 188.60 crore, thus the PBIDT rose by 6% to Rs 868.13 crore. The Company interest cost jumped to Rs 1.88 crore and depreciation rose to Rs 76.84 crore. Thus, the PBT grew by 5% to Rs 789.41 crore. Tax expense increased by 12% to Rs 256.46 crore and Profit After Tax grew by 2% to Rs. 532.95...
Eicher Motors Ltd. is trading above it's 50 day SMA of 20726.82
Eicher Motors Ltd.    
13 Feb 2019
21399.00
0.29%
buy
Accumulate: Eicher Motors Ltd.
IDBI Capital
Royal Enfield's (RE) Q3FY19 revenue were above our and consensus estimates mainly on account of higher realization led by ABS implementation. EBITDA margin for the quarter stood at 29% vs our and consensus estimates of 29.8% and 30% respectively. We maintain our caution view on success of 650 twins in coming time and factor in CV cycle decline in our FY21 estimates. We cut our multiple for RE biz to 18x (earlier 21x) over slower growth in coming years and 10x for VECV business (earlier 15x) on account CV cycle downturn. We revise our TP to Rs19,860 (earlier Rs23,300) and change our...
HDFC Securities downgraded Eicher Motors Ltd. to Sell with a price target of 21000.0 on 15 Mar, 2019.
Eicher Motors Ltd.    
12 Feb 2019
21399.00
0.29%
buy
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research Eicher Motors reported a subdued Q3FY19 performance Consolidated revenues for Q3FY19 were at | 2,341 crore (up 3.4% YoY). ASPs for Royal Enfield (RE) were at | 1.19 lakh/unit, up 10.4% YoY while sales volumes were at 1.94 lakh units, down 5.9% YoY. ASPs were higher due to introduction of ABS in certain models EBITDA came in at | 680 crore (down 5.4% YoY) with corresponding EBITDA margins at 29.0% (down 270 bps YoY, down 126 bps QoQ)...
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Eicher Motors Ltd. has lost -23.58% in the last 6 Months
Eicher Motors Ltd.    
11 Feb 2019
21399.00
0.29%
Prabhudas Lilladhar
Although operating margins at 29% missed PLe at 29.7%, Eicher Motors' (EIM) Q3FY19 consolidated performance was on the whole slightly ahead of our expectations. However, given that most of the high volume models (350cc variants) are now readily available and there is stagnation in demand, we don't expect RE to continue to be immune to the overall domestic motorcycle demand scenario. Given the market conditions, the slump in demand caused by the cost increase (Rs21-25K/unit) given the shift to ABS is also expected to take time to recover. Additionally, on top of it, RE for the first time would...
Eicher Motors Ltd. is trading below it's 100 day SMA of 21766.12
Eicher Motors Ltd.    
11 Feb 2019
21399.00
0.29%
Motilal Oswal
revenue grew 3% YoY to INR23b. Adj. PAT increased 0.4% YoY (-5.9% QoQ) to INR5.3b. EBITDA margin shrank 220bp YoY (-130bp QoQ) to 29%. For 9MFY19, revenue/EBITDA/PAT grew 13.5%/10.3%/9.4% YoY. net realization improved 5.4% QoQ (+10.1% YoY) to INR121k, led by a favorable mix and a price increase for ABS/ disc brakes.
Number of FIIs/FPIs holding stock fell by 65 to 687 in Dec 2018 qtr.
Eicher Motors Ltd.    
15 Nov 2018
21399.00
0.29%
SMC online
Eicher Motors Ltd.'s profit in the September-ended quarter missed analyst expectations as costlier raw material and higher employee benefits weighed on the maker of Royal Enfield motorcycles. Eicher Motors reported 7% rise in its consolidated net profit of Rs 566.28 core for the second quarter ended Sept 2018. Consolidated revenue for the quarter grew 11% at Rs 2,408.17 crore. Barring the joint venture gain, the company registered 2% growth in profits to Rs 489.11crore....
Eicher Motors Ltd. has lost -23.58% in the last 6 Months
Eicher Motors Ltd.    
13 Nov 2018
21399.00
0.29%
HDFC Securities
Eicher Motors Ltd Q2FY19 results Comment Revenue decreased by 5.49% to Rs. 2395.22 Cr in Q2FY19 when compared to the previous quarter. On the other hand, it grew by 10.83% when compared with Q2FY18.
Eicher Motors Ltd. has lost -23.58% in the last 6 Months