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

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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

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