Eicher Motors Ltd

Eicher Motors Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Eicher Motors Ltd

₹ 4,685 1.29%
03 Jul 1:02 p.m.
eicher.in BSE: 505200 NSE: EICHERMOT
About

Eicher Motors Limited, incorporated in 1982, is the listed company of the Eicher Group in India and a leading player in the Indian automobile industry and the global leader in middleweight motorcycles.
Eicher has a joint venture with Sweden’s AB Volvo to create Volvo Eicher Commercial Vehicles Limited (VECV). VECV is engaged in truck and bus operations, auto components business, and technical consulting services business [1]

Key Points

Iconic Brand
It is the owner of the iconic Royal Enfield brand which is focused on mid-sized motorcycles (250-750 cc). Classic, Bullet, Himalayan are some of the brands that come under its Royal Enfield brand. It is sold in 60+ countries globally. It also provides protective riding apparel, urban casual wear, and Motorcycle accessories and parts.

It has launched two BS-VI Compliant Motorcycles, i.e. Classic 350 BS-VI and Himalayan BS-VI in FY20[1]

Website BSE NSE
  • Market Cap ₹ 1,28,381 Cr.
  • Current Price ₹ 4,685
  • High / Low ₹ 4,978 / 3,159
  • Stock P/E 34.2
  • Book Value ₹ 573
  • Dividend Yield 1.09 %
  • ROCE 34.5 %
  • ROE 26.2 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 37.3%

Cons

  • Stock is trading at 8.13 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Automobile Industry: Automobiles - Motorcycles / Mopeds

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
2,922 1,908 2,182 2,838 3,195 3,248 3,397 3,590 3,831 3,901 3,931 4,054 4,192
2,279 1,573 1,739 2,257 2,440 2,460 2,594 2,733 2,887 2,888 2,833 2,939 3,037
Operating Profit 644 334 443 581 755 788 804 857 945 1,013 1,097 1,115 1,155
OPM % 22% 18% 20% 20% 24% 24% 24% 24% 25% 26% 28% 28% 28%
113 134 112 95 113 93 153 191 203 335 276 250 307
Interest 2 2 2 5 2 3 3 4 3 3 5 5 6
Depreciation 123 110 108 110 117 114 125 131 142 135 131 138 155
Profit before tax 631 356 445 562 749 764 829 914 1,002 1,209 1,238 1,221 1,302
Tax % 26% 25% 23% 25% 26% 24% 26% 26% 25% 24% 24% 25% 24%
468 267 343 422 553 580 615 681 747 914 938 914 983
EPS in Rs 17.12 9.77 12.56 15.44 20.24 21.22 22.48 24.89 27.31 33.42 34.28 33.38 35.91
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,049 1,702 3,031 6,186 7,038 8,958 9,794 9,077 8,619 10,123 14,067 16,078
904 1,389 2,297 4,478 4,832 6,103 6,846 6,871 6,831 8,005 10,672 11,698
Operating Profit 146 314 734 1,708 2,206 2,854 2,948 2,207 1,788 2,118 3,394 4,380
OPM % 14% 18% 24% 28% 31% 32% 30% 24% 21% 21% 24% 27%
46 80 116 283 227 19 486 612 450 450 639 1,168
Interest 0 0 2 2 3 3 3 11 9 10 13 19
Depreciation 17 30 50 137 153 222 299 378 446 446 512 559
Profit before tax 174 363 798 1,853 2,277 2,648 3,133 2,430 1,783 2,112 3,508 4,970
Tax % 17% 23% 30% 29% 31% 35% 34% 22% 25% 25% 25% 25%
145 279 559 1,309 1,560 1,713 2,054 1,904 1,330 1,586 2,623 3,749
EPS in Rs 5.36 10.30 20.62 48.20 57.33 62.84 75.31 69.71 48.65 58.01 95.90 136.94
Dividend Payout % 37% 29% 24% 21% 17% 18% 17% 18% 35% 36% 39% 37%
Compounded Sales Growth
10 Years: 25%
5 Years: 10%
3 Years: 23%
TTM: 14%
Compounded Profit Growth
10 Years: 31%
5 Years: 13%
3 Years: 41%
TTM: 43%
Stock Price CAGR
10 Years: 18%
5 Years: 19%
3 Years: 20%
1 Year: 36%
Return on Equity
10 Years: 27%
5 Years: 21%
3 Years: 22%
Last Year: 26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 27 27 27 27 27 27 27 27 27 27 27 27
Reserves 602 794 1,207 2,309 3,895 5,345 7,099 8,248 9,678 10,767 12,860 15,666
5 4 0 23 67 86 76 101 60 53 140 210
391 658 995 1,265 1,550 2,336 2,275 2,203 2,860 3,375 3,848 4,569
Total Liabilities 1,024 1,483 2,229 3,624 5,540 7,795 9,477 10,579 12,625 14,223 16,876 20,473
138 299 501 788 870 1,497 1,871 2,369 2,423 2,401 2,600 3,117
CWIP 60 14 59 94 374 333 450 312 310 504 468 210
Investments 649 856 1,189 2,074 3,542 3,866 3,047 3,926 2,045 5,950 10,280 11,307
177 314 480 667 755 2,098 4,110 3,973 7,847 5,368 3,527 5,838
Total Assets 1,024 1,483 2,229 3,624 5,540 7,795 9,477 10,579 12,625 14,223 16,876 20,473

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
204 368 686 1,474 1,761 2,515 1,608 1,718 1,674 1,570 2,807 3,845
-153 -298 -598 -1,017 -1,752 -2,158 -673 -1,506 -1,615 -1,138 -2,395 -3,014
-50 -55 -86 -466 -19 -280 -334 -883 -16 -474 -441 -796
Net Cash Flow 1 15 2 -8 -10 76 601 -671 44 -42 -29 35

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 2 3 1 3 3 3 4 5 11 18 18 13
Inventory Days 41 50 41 32 32 30 44 38 55 55 41 45
Days Payable 96 111 99 76 75 92 89 73 107 108 79 85
Cash Conversion Cycle -53 -59 -56 -42 -41 -59 -41 -30 -41 -35 -20 -27
Working Capital Days -93 -91 -80 -45 -50 -58 -35 -38 -23 -14 -13 10
ROCE % 24% 46% 72% 103% 72% 63% 50% 31% 20% 21% 29%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
49.22% 49.22% 49.22% 49.21% 49.21% 49.21% 49.20% 49.20% 49.18% 49.15% 49.15% 49.14%
28.83% 30.28% 29.45% 29.22% 29.50% 30.25% 29.85% 28.63% 30.28% 28.89% 30.27% 28.95%
9.50% 8.65% 9.73% 9.95% 10.13% 9.95% 9.96% 11.19% 10.03% 10.48% 9.73% 11.04%
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
12.36% 11.76% 11.50% 11.52% 11.06% 10.48% 10.88% 10.88% 10.43% 11.37% 10.76% 10.77%
No. of Shareholders 2,58,5442,49,2882,71,0752,63,4792,34,5122,38,2942,60,1612,66,1682,45,4612,80,5302,48,4862,63,132

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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