Eicher Motors Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 57777.02 Crore) operating in Auto sector.
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Promoters held 49.3 per cent stake in the company as of June 30, 2020, while FIIs held 27 per cent, DIIs 12.1 per cent and public and others 11.7 per cent
Motilal Oswal has given a buy rating to Eicher Motors with a target price of Rs 2475. The share price moved down by 0.19 per cent from its previous close of Rs 2131.60. The stock’s last traded price is Rs 2127.50.
Eicher Motors Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 57777.02 Crore) operating in Auto sector.
Financials For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 809.16 Crore, down 63.06 % from last quarter Sales of Rs 2190.32 Crore and down -65.73 % from last year same quarter Sales of Rs 2361.24 Crore. The Company reported net profit after tax of Rs 10.22 Crore in latest quarter.
Investment Rationale Royal Enfield (RE) dispatches declined ~5% YoY to 50.1k units (in-line with est.). Domestic retails were broadly similar to wholesales. The brokerage estimates RE volumes to decline 10.4% in FY21E, implying residual growth of 17.4% or run-rate of 68k units. It is hopeful of a step-up in volumes, driven by the upcoming new platform launch in Sep-Oct’20. The stock trades at 41.8x/25.9x FY21E/FY22E consol. EPS. Promoter/FII Holdings Promoters held 49.3 per cent stake in the company as of June 30, 2020, while FIIs held 27 per cent, DIIs 12.1 per cent and public and others 11.7 per cent
