Eicher Motors Ltd. share price target

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.'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 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.

Royal Enfield's (RE) Q2FY19 results were below our and consensus estimates at operating level. EBITDA margin for the quarter stood at 30.3% vs our and consensus estimates of 31.8% and 31.5% respectively. EBITDA margin were majorly impacted by weaker operating leverage and higher other expenses. Revenue grew +11% YoY / -6% QoQ to Rs23.9bn driven by volume growth of +4% YoY / -7% QoQ to 210,102 units. Volumes were majorly impacted by recent strike in Oragadam plant. Net realization for the quarter increased +1.4% QoQ mainly on account of better product mix and recent price hikes. EBITDA for the quarter increased +7% YoY / -10% QoQ to at...

revenue grew 11% YoY to INR24b (in-line). Adj. PAT grew 7% YoY (- 1.7% QoQ) to INR5.6b (est. In 1HFY19, revenue/EBITDA/PAT grew 19%/18%/14%, implying residual growth of 12%/15%/14% for 2H. net realization improved 1.3% QoQ (+7.3% YoY) to INR114.4k (est. of INR113.2k), led by favourable mix.

Eicher Motors reported marginal muted performance in Q2FY19. Consolidated revenues for Q2FY19 came in at | 2408 crore (up 11.3% YoY). ASP's for RE in Q2FY19 stood at | 1.14 lakh/unit, up 1.3% QoQ while sales Volumes stood at 2.1 lakh units up 3.6% YoY EBITDA came in at | 729 crore (up 5.7% YoY). The EBITDA margins stood at 30.3% (down 160 bps YoY). Disappointment on margins was primarily driven by one-time expenses related to recent launched RE 650 twin in international markets....

Transition towards Moderating Growth Era;Eicher Motors (EICHER) Q2FY19 results were better than our expectations. The Company has been witnessing volume growth slowdown in the recent past on account of high base effect and moderate saturation in the premium bike market in India.

The Twins' are here: Ride it like you stole it (at a bargain) Today, Royal Enfield (RE) launched its much awaited 650cc Twins - Interceptor and Continental GT in the US market, starting at a competitive price of USD 5,799 and USD 5,999, respectively. The Twins' form the core of the RE's expansion plans in the overseas market, as much as they are relevant for offering a suitable upgrade to a large base of existing RE customers in India. At the launch event in California, RE reiterated its focus to establish itself in the middle-weight segment (250-750cc) and expand the market for middleweight motorcycles globally. The Twins' offer power-packed performance and specifications similar to some of the popular international models (in the mid-size segment) but at a much...

Classic Case Unfolding: Eicher Motors Ltd (EIL) remains to be a dominant player in 250cc+ motorcycle category in India. Its models (RE Classic 350 and Bullet 350) are still dominating the premium motorcycle markets in India without any meaningful competition.

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.