News

Published: May 12, 2023
Updated: May 12, 2023

Eicher Motors Reports Strong Q4 Results, Bets on Festive Season, New Launches to Prop Up Sales

Eicher Motors, the parent company of Royal Enfield motorcycles, reported strong financial results for the quarter ended March 2023. The company's net profit grew by 48% to Rs 906 crore, while its revenue from operations increased by 19.1% to Rs 3,804 crore.

The company's strong performance was driven by a number of factors, including:

● Robust demand for Royal Enfield motorcycles, both in India and overseas
● Continued cost control initiatives
● Positive operating leverage
● Eicher Motors is confident that its strong performance will continue in the coming quarters. The company is betting on the festive season and new product launches to prop up sales.

Key Highlights of Eicher Motors' Q4 Results

1. Net profit grew by 48% to Rs 906 crore
2. Revenue from operations increased by 19.1% to Rs 3,804 crore
3. Royal Enfield sold 214,685 motorcycles in Q4 FY23, up 17.9% from the previous year

Company expects strong performance in the coming quarters

Analysts' Views on Eicher Motors

Analysts are positive on Eicher Motors' outlook. They believe that the company is well- positioned to benefit from the strong demand for motorcycles in India and overseas.

JM Financial has a "buy" rating on Eicher Motors with a target price of Rs 4,050. The brokerage believes that the company's margin pressure is expected to be largely over and that the company is back on the growth trajectory.

Prabhudas Lilladher also has a "buy" rating on Eicher Motors with a target price of Rs 4,030. The brokerage believes that the company's volume growth from new product launches, higher export revenue mix, and increase in mix of spares and merchandise revenue will aid both revenue growth and margin expansion going ahead.

Overall, analysts are bullish on Eicher Motors and believe that the company is well- positioned to deliver strong performance in the coming quarters.

Eicher Motors has reported strong financial results for the quarter ended March 2023. The company's strong performance was driven by a number of factors, including robust demand for Royal Enfield motorcycles, continued cost control initiatives, and positive operating leverage.

Eicher Motors is confident that its strong performance will continue in the coming quarters. The company is betting on the festive season and new product launches to prop up sales.

Analysts are positive on Eicher Motors' outlook and believe that the company is well- positioned to benefit from the strong demand for motorcycles in India and overseas.