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Eicher Motors Overview

Eicher Motors Limited is an India-based automobile organisation. The Company is engaged in manufacturing of bikes and commercial motors. Its motorbike business is led by the logo, Royal Enfield, that's a motorbike brand. Its commercial vehicle business enterprise is led with the support of VE Commercial Vehicles. Its joint project with AB Volvo, VE Commercial Vehicles Limited (VECV), consists of quite a number of Eicher branded trucks and buses, VE Powertrain, Eicher's additives and engineering design offerings companies, the sales and distribu...Read More

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Eicher Motors Key Financials

Market Cap ₹195010 Cr.

Stock P/E 41.2

P/B 8.4

Current Price ₹7109

Book Value ₹ 850.3

Face Value 1

52W High ₹8232.8

Dividend Yield 0.98%

52W Low ₹ 5201.2

Eicher Motors Share Price

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Volume
Price

Eicher Motors Quarterly Price

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Eicher Motors Peer Comparison

Eicher Motors Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 4115 4179 4256 4393 4263 4973 5241 5042 6172 6114
Other Income 274 254 305 282 354 289 380 446 351 337
Total Income 4388 4433 4561 4675 4617 5262 5622 5488 6523 6451
Total Expenditure 3027 3089 3127 3228 3175 3772 3983 3839 4660 4557
Operating Profit 1361 1344 1434 1447 1442 1490 1638 1649 1863 1894
Interest 13 12 15 12 13 13 16 15 19 17
Depreciation 143 148 165 169 180 179 201 198 200 211
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -55
Profit Before Tax 1206 1184 1253 1266 1248 1297 1421 1436 1644 1610
Provision for Tax 291 302 315 340 262 290 307 388 410 373
Profit After Tax 915 882 939 927 987 1007 1114 1048 1235 1238
Adjustments 102 114 132 175 114 164 248 157 135 183
Profit After Adjustments 1016 996 1070 1101 1100 1171 1362 1205 1369 1421
Adjusted Earnings Per Share 37.1 36.4 39.1 40.2 40.1 42.7 49.7 43.9 49.9 51.8

Eicher Motors Profit & Loss

#(Fig in Cr.) Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 8738 6173 7033 8965 9797 9154 8720 10298 14442 16536 18870 22569
Other Income 107 178 227 280 443 543 453 441 595 1076 1305 1514
Total Income 8846 6352 7261 9245 10240 9697 9174 10739 15037 17612 20175 24084
Total Expenditure 7624 4484 4859 6157 6894 6973 6939 8126 10999 12209 14158 17039
Operating Profit 1222 1868 2401 3088 3347 2724 2234 2613 4039 5403 6017 7044
Interest 10 2 4 5 7 19 16 19 28 51 54 67
Depreciation 220 137 154 223 300 382 451 452 526 598 729 810
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 -55
Profit Before Tax 993 1877 2433 3116 3297 2355 1798 2203 3800 5202 5933 6111
Provision for Tax 291 539 720 936 1077 527 452 526 886 1201 1199 1478
Profit After Tax 702 1338 1713 2180 2220 1827 1347 1677 2914 4001 4734 4635
Adjustments -86 0 -46 -220 -18 0 0 0 0 0 0 723
Profit After Adjustments 615 1338 1667 1960 2203 1827 1347 1677 2914 4001 4734 5357
Adjusted Earnings Per Share 22.7 49.3 61.3 71.9 80.7 66.9 49.3 61.3 106.5 146.1 172.7 195.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 14% 22% 16% 8%
Operating Profit CAGR 11% 32% 17% 17%
PAT CAGR 18% 41% 21% 21%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 28% 28% 24% 14%
ROE Average 24% 23% 19% 27%
ROCE Average 30% 30% 25% 36%

Eicher Motors Balance Sheet

#(Fig in Cr.) Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 2516 3653 5345 7030 8919 9981 11438 12608 14990 18046 21296
Minority's Interest 1085 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 63 163 184
Other Non-Current Liabilities 329 975 134 227 370 450 492 638 910 1308 1428
Total Current Liabilities 2473 1205 1530 2265 2098 2019 2629 2893 3235 3598 4266
Total Liabilities 6403 5833 7009 9522 11387 12450 14559 16140 19198 23115 27174
Fixed Assets 2309 790 869 1498 1871 2374 2433 2424 2690 2914 3473
Other Non-Current Assets 1192 3994 4760 5489 5100 3701 3317 8096 12824 16049 16747
Total Current Assets 2902 1049 1381 2535 4415 6375 8808 5619 3683 4151 6954
Total Assets 6403 5833 7009 9522 11387 12450 14559 16140 19198 23115 27174

Eicher Motors Cash Flow

#(Fig in Cr.) Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 683 17 28 17 92 716 43 94 45 53 98
Cash Flow from Operating Activities 1047 1463 1708 2482 1575 1694 1691 1527 2823 3724 3980
Cash Flow from Investing Activities -1214 -1001 -1744 -2145 -660 -1508 -1625 -983 -2416 -2852 -2483
Cash Flow from Financing Activities -162 -466 25 -262 -292 -858 -15 -593 -417 -844 -1399
Net Cash Inflow / Outflow -329 -4 -10 75 623 -673 51 -50 -11 27 98
Closing Cash & Cash Equivalent 353 13 17 92 716 43 94 45 53 98 219

Eicher Motors Ratios

# Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 22.71 49.27 61.27 71.89 80.75 66.94 49.28 61.32 106.54 146.13 172.66
CEPS(Rs) 34.01 54.29 68.61 88.15 92.39 80.92 65.77 77.85 125.78 167.96 199.26
DPS(Rs) 5 10 10 11 12.5 12.5 17 21 37 51 70
Book NAV/Share(Rs) 92.84 133.57 194.78 255.7 324.78 363.04 415.6 459.66 545.96 656.26 772.8
Core EBITDA Margin(%) 11.92 24.24 27.38 30.45 29.63 23.73 20.34 20.99 23.7 25.92 24.77
EBIT Margin(%) 10.72 26.95 30.69 33.85 33.73 25.83 20.73 21.46 26.34 31.47 31.48
Pre Tax Margin(%) 10.61 26.92 30.65 33.8 33.66 25.63 20.54 21.28 26.15 31.16 31.19
PAT Margin (%) 7.5 19.19 21.58 23.64 22.66 19.89 15.38 16.2 20.05 23.97 24.89
Cash Profit Margin (%) 9.85 21.15 23.51 26.07 25.73 24.04 20.53 20.57 23.67 27.55 28.72
ROA(%) 11.95 21.87 26.68 26.37 21.24 15.33 9.97 10.92 16.49 18.91 18.83
ROE(%) 30.7 43.56 38.38 35.53 28.05 19.47 12.67 14.02 21.19 24.32 24.18
ROCE(%) 42.53 60.13 53.37 49.39 40.58 24.69 16.71 18.31 27.48 31.35 30.02
Receivable days 20.97 15.57 1.9 2.34 2.84 3.4 5.11 8.12 8.43 8.12 8.86
Inventory Days 22.88 24.97 14.81 14.46 19.15 23.95 30.16 35.39 30.28 29.39 28.53
Payable days 65.62 92.13 61.66 68.36 78.96 77 89.06 101.16 79.97 79.27 81.88
PER(x) 66.51 38.85 41.71 39.42 25.44 19.55 52.83 40.12 27.69 27.51 30.97
Price/Book(x) 16.27 14.33 13.12 11.08 6.32 3.6 6.27 5.35 5.4 6.12 6.92
Dividend Yield(%) 0.33 0.52 0.39 0.39 0.61 0.96 0.65 0.85 1.25 1.27 1.31
EV/Net Sales(x) 4.65 8.42 9.9 8.5 5.44 3.6 7.51 6.27 5.55 6.66 7.77
EV/Core EBITDA(x) 33.25 27.82 28.99 24.67 15.91 12.09 29.31 24.72 19.84 20.39 24.37
Net Sales Growth(%) 28.32 -29.35 13.93 27.46 9.28 -6.57 -4.73 18.09 40.24 14.5 14.12
EBIT Growth(%) 47.75 87.45 29.69 28.07 5.88 -28.17 -23.55 22.4 72.32 37.24 13.98
PAT Growth(%) 33.57 90.67 28.03 27.24 1.86 -17.69 -26.3 24.48 73.8 37.31 18.33
EPS Growth(%) 55.86 116.96 24.36 17.34 12.32 -17.1 -26.38 24.43 73.74 37.16 18.16
Debt/Equity(x) 0.02 0.01 0.02 0.02 0.02 0.01 0.01 0 0.01 0.02 0.01
Current Ratio(x) 1.17 0.87 0.9 1.12 2.1 3.16 3.35 1.94 1.14 1.15 1.63
Quick Ratio(x) 0.91 0.62 0.68 0.94 1.8 2.87 3.02 1.55 0.74 0.76 1.26
Interest Cover(x) 102.49 886.34 684.53 584.46 450.83 125.73 110.32 118.28 136.6 103.24 110.18
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Eicher Motors Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 49.15 49.15 49.11 49.1 49.09 49.08 49.07 49.06 49.06 49.06
FII 30.27 28.95 28.81 27.62 25.43 25.03 25.83 26.98 27.01 26.78
DII 9.83 11.14 11.95 13.76 16.2 16.64 15.76 14.72 14.74 14.83
Public 10.75 10.76 10.13 9.52 9.29 9.26 9.35 9.24 9.19 9.34
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Eicher Motors News

Eicher Motors Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 23%
  • Company is almost debt free.

Cons

  • Promoter holding is low: 49.06%.
  • Debtor days have increased from 79.27 to 81.88days.
  • Stock is trading at 8.4 times its book value.
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