Eicher Motors Q2 Review - Realisations Surprised Positively: Prabhudas Lilladher
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Prabhudas Lilladher Report
Eicher Motors Ltd.’s Q2 FY22 standalone revenue increased by 3% YoY to Rs 21.8 billion (our estimate: Rs 20 billion).
Realisation/volume came in at 25%/down 18% YoY. Higher share of exports, mix improvement and price hikes led to growth in realisations.
Standalone margins came in at 20.3% (17.5% in Q1 FY22, our estimate 18.9%) benefitted by one off employee cost saving amounting to Rs 400 million.
Eicher Motors has reiterated its aggressive stance of new product launches with new Classic 350 and Meteor seeing good traction. Though supply challenges still continue to impact order fulfilment.
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