Eicher Motors Ltd
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]
- Market Cap ₹ 1,26,367 Cr.
- Current Price ₹ 4,615
- High / Low ₹ 4,630 / 3,159
- Stock P/E 36.0
- Book Value ₹ 502
- Dividend Yield 0.80 %
- ROCE 29.5 %
- ROE 22.2 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 36.6%
- Company's median sales growth is 17.4% of last 10 years
Cons
- Stock is trading at 9.19 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
671 | 1,049 | 1,702 | 3,031 | 6,186 | 7,038 | 8,958 | 9,794 | 9,077 | 8,619 | 10,123 | 14,067 | 15,717 | |
591 | 904 | 1,389 | 2,297 | 4,478 | 4,832 | 6,103 | 6,846 | 6,871 | 6,831 | 8,005 | 10,672 | 11,548 | |
Operating Profit | 80 | 146 | 314 | 734 | 1,708 | 2,206 | 2,854 | 2,948 | 2,207 | 1,788 | 2,118 | 3,394 | 4,170 |
OPM % | 12% | 14% | 18% | 24% | 28% | 31% | 32% | 30% | 24% | 21% | 21% | 24% | 27% |
77 | 46 | 80 | 116 | 283 | 227 | 19 | 486 | 612 | 450 | 450 | 639 | 1,063 | |
Interest | 2 | 0 | 0 | 2 | 2 | 3 | 3 | 3 | 11 | 9 | 10 | 13 | 17 |
Depreciation | 13 | 17 | 30 | 50 | 137 | 153 | 222 | 299 | 378 | 446 | 446 | 512 | 547 |
Profit before tax | 142 | 174 | 363 | 798 | 1,853 | 2,277 | 2,648 | 3,133 | 2,430 | 1,783 | 2,112 | 3,508 | 4,670 |
Tax % | 12% | 17% | 23% | 30% | 29% | 31% | 35% | 34% | 22% | 25% | 25% | 25% | |
125 | 145 | 279 | 559 | 1,309 | 1,560 | 1,713 | 2,054 | 1,904 | 1,330 | 1,586 | 2,623 | 3,513 | |
EPS in Rs | 4.61 | 5.36 | 10.30 | 20.62 | 48.20 | 57.33 | 62.84 | 75.31 | 69.71 | 48.65 | 58.01 | 95.90 | 128.39 |
Dividend Payout % | 35% | 37% | 29% | 24% | 21% | 17% | 18% | 17% | 18% | 35% | 36% | 39% |
Compounded Sales Growth | |
---|---|
10 Years: | 30% |
5 Years: | 9% |
3 Years: | 16% |
TTM: | 17% |
Compounded Profit Growth | |
---|---|
10 Years: | 36% |
5 Years: | 6% |
3 Years: | 11% |
TTM: | 45% |
Stock Price CAGR | |
---|---|
10 Years: | 22% |
5 Years: | 18% |
3 Years: | 24% |
1 Year: | 41% |
Return on Equity | |
---|---|
10 Years: | 27% |
5 Years: | 21% |
3 Years: | 18% |
Last Year: | 22% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 |
Reserves | 513 | 602 | 794 | 1,207 | 2,309 | 3,895 | 5,345 | 7,099 | 8,248 | 9,678 | 10,767 | 12,860 | 13,723 |
14 | 5 | 4 | 0 | 23 | 67 | 86 | 76 | 101 | 60 | 53 | 140 | 207 | |
228 | 391 | 658 | 995 | 1,265 | 1,550 | 2,336 | 2,275 | 2,203 | 2,860 | 3,375 | 3,848 | 4,616 | |
Total Liabilities | 782 | 1,024 | 1,483 | 2,229 | 3,624 | 5,540 | 7,795 | 9,477 | 10,579 | 12,625 | 14,223 | 16,876 | 18,574 |
112 | 138 | 299 | 501 | 788 | 870 | 1,497 | 1,871 | 2,369 | 2,423 | 2,401 | 2,600 | 3,015 | |
CWIP | 4 | 60 | 14 | 59 | 94 | 374 | 333 | 450 | 312 | 310 | 504 | 468 | 163 |
Investments | 518 | 649 | 856 | 1,189 | 2,074 | 3,542 | 3,866 | 3,047 | 3,926 | 2,045 | 5,950 | 10,280 | 10,975 |
148 | 177 | 314 | 480 | 667 | 755 | 2,098 | 4,110 | 3,973 | 7,847 | 5,368 | 3,527 | 4,421 | |
Total Assets | 782 | 1,024 | 1,483 | 2,229 | 3,624 | 5,540 | 7,795 | 9,477 | 10,579 | 12,625 | 14,223 | 16,876 | 18,574 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
85 | 204 | 368 | 686 | 1,474 | 1,761 | 2,515 | 1,608 | 1,718 | 1,674 | 1,570 | 2,807 | |
-55 | -153 | -298 | -598 | -1,017 | -1,752 | -2,158 | -673 | -1,506 | -1,615 | -1,138 | -2,395 | |
-31 | -50 | -55 | -86 | -466 | -19 | -280 | -334 | -883 | -16 | -474 | -441 | |
Net Cash Flow | -1 | 1 | 15 | 2 | -8 | -10 | 76 | 601 | -671 | 44 | -42 | -29 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 2 | 2 | 3 | 1 | 3 | 3 | 3 | 4 | 5 | 11 | 18 | 18 |
Inventory Days | 37 | 41 | 50 | 41 | 32 | 32 | 30 | 44 | 38 | 55 | 55 | 41 |
Days Payable | 87 | 96 | 111 | 99 | 76 | 75 | 92 | 89 | 73 | 107 | 108 | 79 |
Cash Conversion Cycle | -47 | -53 | -59 | -56 | -42 | -41 | -59 | -41 | -30 | -41 | -35 | -20 |
Working Capital Days | -59 | -93 | -91 | -80 | -45 | -50 | -58 | -35 | -38 | -23 | -14 | -13 |
ROCE % | 23% | 24% | 46% | 72% | 103% | 72% | 63% | 50% | 31% | 20% | 21% | 29% |
Documents
Announcements
- Compliance Certificate Under Regulation 40(10) Of The SEBI (Listing Obligation And Disclosure Requirements) Regulation, 2015 11h
- Compliances-Compliance Certificate Pursuant To Regulation 7(3) For The Year Ended March 31, 2024. 12h
- Please Find Enclosed Herewith The Intimation Under Regulation 30 Read With Schedule III Of SEBI (LODR) Regulations, 2015 16h
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 20 Apr
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 19 Apr
Annual reports
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2013
from nse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
-
Financial Year 2011
from nse
Concalls
-
Feb 2024Transcript PPT
-
Nov 2023Transcript PPT
-
Aug 2023Transcript PPT
-
May 2023Transcript PPT
-
Feb 2023Transcript PPT
-
Nov 2022Transcript PPT
-
Aug 2022Transcript PPT
-
May 2022Transcript PPT
-
Feb 2022Transcript PPT
-
Nov 2021Transcript PPT
-
Sep 2021TranscriptNotesPPT
-
Sep 2021Transcript PPT
-
Aug 2021TranscriptNotesPPT
-
May 2021Transcript PPT
-
Feb 2021Transcript PPT
-
Nov 2020Transcript PPT
-
Aug 2020Transcript PPT
-
Jun 2020Transcript PPT
-
Feb 2020Transcript PPT
-
Nov 2019Transcript PPT
-
Jul 2019Transcript PPT
-
May 2019Transcript PPT
-
Feb 2019Transcript PPT
-
Nov 2018Transcript PPT
-
Aug 2018Transcript PPT
-
May 2018Transcript PPT
-
Feb 2018Transcript PPT
-
Nov 2017TranscriptPPT
-
Aug 2017TranscriptPPT
-
May 2017TranscriptPPT
-
Jul 2016TranscriptPPT
-
May 2016TranscriptPPT
-
Feb 2016TranscriptNotesPPT
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]