Eicher Motors Q4 Review - Upcoming Launches Critical To Delivering Strong Growth: Motilal Oswal
The Royal Enfield logo is displayed on the headlight of a Desert Storm motorcycle on display at the Eicher Motors Ltd. Royal Enfield flagship dealership in Gurgaon, India. (Photographer Prashanth Vishwanathan/Bloomberg)

Eicher Motors Q4 Review - Upcoming Launches Critical To Delivering Strong Growth: Motilal Oswal

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.

Motilal Oswal Report

Eicher Motors Ltd.’s Q4 FY21 performance was in-line, supported by good volume recovery in both Royal Enfield and VE Commercial Vehicles Ltd.

Despite cost inflation, Ebitda margins per unit were stable QoQ.

Good response to Meteor, upcoming launches of the new Classic, and normalized production would support Royal Enfield volume recovery going forward.

VE Commercial Vehicles is also firmly on the recovery path.

We cut FY22E consolidated earnings per share by 7%, accounting for the Covid-19 impact on volumes and commodity inflation, while maintaining FY23E earnings estimates.

Click on the attachment to read the full report:

Motilal Oswal Eicher Motors Q4FY21 Result Update.pdf


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.