Eicher Motors Q4 Review - Strong Order Backlog, New Launches To Drive Dispatches: Dolat Capital

Heavy duty trucks manufactured by Eicher Motors Ltd. (Source: Company website).

Eicher Motors Q4 Review - Strong Order Backlog, New Launches To Drive Dispatches: Dolat Capital

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

Eicher Motors Ltd. numbers were broadly in line with estimates in Q4 FY21.

Revenue grew 33% YoY to Rs 29.4 billion led by 26% growth in volume and 6% increase in net average selling price.

Adjusted Ebitda (excluding one off Rs 500 million relating to forex losses on loans at Brazil and provision for advances given to a vendor) stood at Rs 6.84 billion with margin to 23.2% (in line estimate).

The management stated that Q1 expected to be weak due to supply and production side challenges.

However, demand is firm and strong order backlog(~ three months), pent up demand and spurt in export numbers will aid volume growth from Q2 FY22.

Click on the attachment to read the full report:

Dolat Capital Eicher Motors Q4FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.