Eicher Motors Ltd

Eicher Motors is engaged in the global leader in middleweight motorcycles and it has been making its distinctive motorcycles since 1901.(Source : 201903 Annual Report Page No: 04)

  • Market Cap: 51,467 Cr.
  • Current Price: 18,849
  • 52 weeks High / Low 23450.00 / 15196.95
  • Book Value: 3,491
  • Stock P/E: 24.89
  • Dividend Yield: 0.66 %
  • ROCE: 40.59 %
  • ROE: 27.63 %
  • Sales Growth (3Yrs): 16.64 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Pros:
Company is virtually debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 31.25%
Cons:

Peer Comparison Sector: Automobile // Industry: Automobiles - Motorcycles / Mopeds

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019
1,888 2,001 2,167 2,269 2,528 2,548 2,408 2,341 2,500 2,382 2,192 2,371
1,313 1,391 1,496 1,572 1,918 1,738 1,696 1,662 1,815 1,767 1,651 1,779
Operating Profit 575 610 671 697 610 810 712 680 685 614 541 592
OPM % 30% 30% 31% 31% 24% 32% 30% 29% 27% 26% 25% 25%
Other Income 118 114 122 120 181 124 171 189 218 141 153 151
Interest 1 1 1 2 1 2 2 2 2 5 4 4
Depreciation 43 45 49 65 64 70 72 77 81 88 90 95
Profit before tax 648 677 742 750 726 862 809 789 820 663 601 644
Tax % 29% 32% 30% 31% 36% 33% 32% 32% 34% 32% 5% 23%
Net Profit 459 460 518 520 462 576 549 533 545 452 573 499
EPS in Rs 168.86 168.87 190.29 191.15 169.38 211.35 201.25 195.42 199.73 165.57 209.87 182.69
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
2,258 1,717 2,939 4,397 5,684 6,390 6,810 8,738 6,173 7,033 8,965 9,797 9,445
2,153 1,723 2,800 4,050 5,095 5,841 6,097 7,624 4,484 4,859 6,157 6,893 7,013
Operating Profit 105 -6 139 347 589 549 713 1,115 1,690 2,174 2,808 2,904 2,433
OPM % 5% -0% 5% 8% 10% 9% 10% 13% 27% 31% 31% 30% 26%
Other Income 41 111 111 137 142 137 95 107 326 417 536 701 664
Interest 19 10 9 10 8 4 8 10 2 4 5 7 15
Depreciation 51 37 54 57 64 82 130 220 137 154 223 300 354
Profit before tax 76 59 187 418 660 600 671 993 1,877 2,433 3,116 3,297 2,728
Tax % 28% -15% 31% 27% 25% 21% 22% 29% 29% 30% 30% 33%
Net Profit 55 63 83 189 309 324 394 615 1,338 1,667 1,960 2,203 2,068
EPS in Rs 18.64 28.58 63.36 68.30 111.80 116.85 140.58 217.07 394.12 612.67 718.88 807.45 757.86
Dividend Payout % 26% 22% 11% 16% 14% 17% 21% 22% 20% 16% 15% 15%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:19.03%
5 Years:7.55%
3 Years:16.64%
TTM:-3.86%
Compounded Profit Growth
10 Years:47.39%
5 Years:42.52%
3 Years:18.09%
TTM:-2.43%
Stock Price CAGR
10 Years:41.86%
5 Years:3.54%
3 Years:-8.84%
1 Year:-8.48%
Return on Equity
10 Years:28.80%
5 Years:32.23%
3 Years:31.25%
Last Year:27.63%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
28 28 27 27 27 27 27 27 27 27 27 27 27
Reserves 408 1,076 1,042 1,205 1,466 1,728 2,028 2,489 3,626 5,318 7,003 8,891 9,504
Borrowings 220 166 126 96 43 23 84 58 23 112 151 187 164
483 1,067 1,316 1,647 2,283 2,729 3,264 3,914 1,279 1,565 2,363 2,305 2,301
Total Liabilities 1,138 2,336 2,497 2,974 3,819 4,507 5,403 6,488 4,954 7,022 9,543 11,410 11,996
315 329 364 384 504 992 1,656 2,309 790 873 1,502 1,875 2,418
CWIP 19 52 12 70 352 504 464 419 94 374 333 450 174
Investments 261 6 294 459 513 638 825 1,078 3,388 4,987 5,581 4,923 5,263
543 1,949 1,828 2,061 2,450 2,372 2,458 2,682 682 789 2,128 4,163 4,141
Total Assets 1,138 2,336 2,497 2,974 3,819 4,507 5,403 6,488 4,954 7,022 9,543 11,410 11,996

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019
85 -89 368 336 405 496 716 1,047 1,463 1,708 2,482 1,573
-64 265 -266 -192 -338 -773 -790 -1,214 -1,001 -1,744 -2,145 -657
-16 1,003 -164 -69 -114 -111 -47 -162 -466 25 -262 -292
Net Cash Flow 4 1,180 -61 75 -47 -388 -121 -329 -4 -10 75 623

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 15% 3% 16% 32% 45% 35% 33% 40% 60% 53% 49% 41%
Debtor Days 24 38 29 22 22 25 27 23 2 3 3 3
Inventory Turnover 11.91 6.77 10.55 16.12 15.07 13.94 13.41 14.91 12.94 21.83 24.54 19.06