Is Eicher Motors a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Eicher Motors Ltd is a good quality company .

Is Eicher Motors undervalued or overvalued?

The key valuation ratios of Eicher Motors Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is Eicher Motors share price return in the past 10 years?

Eicher Motors Ltd share price has appreciated 14.3% annually (CAGR) over the past ten years.

Is Eicher Motors a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Eicher Motors Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

Eicher Motors Ltd - Stock Valuation and Financial Performance

Name: Eicher Motors
Brand: Eicher Motors

BSE: 505200 | NSE: EICHERMOT | Automobile Two & Three Wheelers | Large Cap

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Eicher Motors Share Price

₹4,899.45 67.25 1.39%
as on 05-Nov'24 00:00

10 Year X-Ray of Eicher Motors:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Dec'14	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	42.5%	60.1%	53.4%	49.4%	40.6%	24.7%	16.7%	18.3%	27.5%	31.4%	-
Value Creation Index ⓘ	NA	4.3	3.7	3.4	2.6	1.2	0.5	0.6	1.4	1.8	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	8,738	4,939	7,033	8,965	9,797	9,154	8,720	10,298	14,442	16,536	16,635
Sales YoY Gr.	-	-43.5%	42.4%	27.5%	9.3%	-6.6%	-4.7%	18.1%	40.2%	14.5%	-
Adj EPS ⓘ	21.1	39.5	63.3	80	81.6	67.5	49.5	60.5	106.1	146	152.7
YoY Gr.	-	87.1%	60.3%	26.4%	2%	-17.3%	-26.6%	22.1%	75.4%	37.7%	-
BVPS (₹) ⓘ	92.8	106.9	194.8	255.7	324.8	363	415.6	459.7	546	656.3	689.5
Adj Net Profit ⓘ	572	1,072	1,722	2,180	2,226	1,842	1,354	1,653	2,901	3,998	4,185
Cash Flow from Ops. ⓘ	1,047	1,170	1,708	2,482	1,575	1,694	1,691	1,527	2,823	3,724	-
Debt/CF from Ops. ⓘ	0.1	0	0.1	0.1	0.1	0.1	0.1	0	0.1	0.1	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	7.3%	11%	23.8%	14.5%
Adj EPS ⓘ	24%	12.4%	43.4%	37.7%
BVPSⓘ	24.3%	15.1%	16.5%	20.2%
Share Price	14.3%	17.8%	22.5%	39.6%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Dec'14	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	25	43.4	38.3	35.2	27.9	19.5	12.6	13.8	21	24.2	22.7
Op. Profit Mgn % ⓘ	12.8	27.4	31.1	31.3	29.7	24	20.5	21.2	23.9	26.2	26.9
Net Profit Mgn % ⓘ	7.5	21.7	24.5	24.3	22.7	20.1	15.5	16.1	20.1	24.2	25.2
Debt to Equity ⓘ	0	0	0	0	0	0	0	0	0	0	-
Working Cap Days ⓘ	77	98	52	33	39	44	65	85	72	98	47
Cash Conv. Cycle ⓘ	-6	-31	-31	-35	-35	-29	-27	-28	-21	-19	6

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 22.70%

Sales growth is growing at healthy rate in last 3 years 23.77%

Net Profit is growing at healthy rate in last 3 years 43.39%

Sales growth is good in last 4 quarters at 12.79%

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Latest Financials - Eicher Motors Ltd.

	Standalone	Consolidated
TTM EPS (₹)	143.2	152.7
TTM Sales (₹ Cr.)	16,144	16,635
BVPS (₹.) ⓘ	609.5	689.5
Reserves (₹ Cr.) ⓘ	16,677	18,868
P/BV ⓘ	8.06	7.12
PE ⓘ	34.30	32.16

From the Market
52 Week Low / High (₹)	3430.05 / 5104.50
All Time Low / High (₹)	0.90 / 5104.50
Market Cap (₹ Cr.)	1,34,562
Equity (₹ Cr.)	27.4
Face Value (₹)	1
Industry PE ⓘ	33.8

Management X-Ray of Eicher Motors:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Eicher Motors

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Eicher Motors

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Dec'14	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	8,738	6,173	7,033	8,965	9,797	9,154	8,720	10,298	14,442	16,536
Operating Expenses ⓘ	7,624	4,484	4,859	6,157	6,894	6,973	6,939	8,126	10,999	12,209
Manufacturing Costs	278	211	224	282	344	331	313	400	485	512
Material Costs	5,770	3,448	3,707	4,635	5,057	4,996	5,112	5,956	8,212	8,981
Employee Cost	660	350	426	574	702	796	843	821	1,002	1,236
Other Costs ⓘ	916	474	502	666	790	851	671	949	1,300	1,481
Operating Profit ⓘ	1,115	1,690	2,174	2,808	2,903	2,180	1,781	2,172	3,444	4,327
Operating Profit Margin (%)	12.8%	27.4%	30.9%	31.3%	29.6%	23.8%	20.4%	21.1%	23.8%	26.2%
Other Income ⓘ	107	178	227	280	443	543	453	441	595	1,076
Interest ⓘ	10	2	4	5	7	19	16	19	28	51
Depreciation ⓘ	220	137	154	223	300	382	451	452	526	598
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	993	1,877	2,433	3,116	3,297	2,355	1,798	2,203	3,800	5,202
Tax ⓘ	291	539	720	936	1,077	527	452	526	886	1,201
Profit After Tax	702	1,338	1,713	2,180	2,220	1,827	1,347	1,677	2,914	4,001
PAT Margin (%)	8.0%	21.7%	24.4%	24.3%	22.7%	20.0%	15.4%	16.3%	20.2%	24.2%
Adjusted EPS (₹)	22.7	49.3	61.3	71.9	80.8	66.9	49.3	61.3	106.5	146.1
Dividend Payout Ratio (%)	22%	20%	16%	15%	15%	19%	35%	34%	35%	35%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Dec'14	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	2,516	3,628	5,300	6,970	8,860	9,911	11,358	12,567	14,932	17,968
Share Capital ⓘ	27	27	27	27	27	27	27	27	27	27
Reserves ⓘ	2,489	3,601	5,273	6,943	8,833	9,884	11,331	12,540	14,905	17,941
Minority Interest	1085	0	0	0	0	0	0	0	0	0
Debt	58	23	112	151	187	144	157	59	196	276
Long Term Debt	0	0	0	0	0	0	0	0	63	163
Short Term Debt	58	23	112	151	187	144	157	59	133	112
Trade Payables	1,513	723	765	1,172	1,234	1,008	1,513	1,788	1,810	2,090
Others Liabilities ⓘ	1,231	1,459	832	1,229	1,106	1,387	1,530	1,726	2,260	2,781
Total Liabilities ⓘ	6,403	5,833	7,009	9,522	11,387	12,450	14,559	16,140	19,198	23,115
Fixed Assets
Gross Block	3,137	1,061	1,285	2,134	2,757	3,575	4,049	4,405	5,142	5,750
Accumulated Depreciation	828	271	416	636	886	1,201	1,616	1,981	2,452	2,835
Net Fixed Assetsⓘ	2,309	790	869	1,498	1,871	2,374	2,433	2,424	2,690	2,914
CWIP ⓘ	400	94	373	333	450	312	314	505	472	555
Investmentsⓘ	1,078	3,384	4,987	5,581	4,923	5,749	3,902	7,721	12,321	13,527
Inventories	646	308	336	395	633	572	875	1,132	1,278	1,410
Trade Receivables	562	33	50	68	84	87	158	302	369	374
Cash Equivalents	353	49	25	1,212	2,965	2,951	5,830	2,722	766	146
Others Assetsⓘ	1,055	1,175	369	436	461	405	1,046	1,333	1,302	4,189
Total Assets ⓘ	6,403	5,833	7,009	9,522	11,387	12,450	14,559	16,140	19,198	23,115

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Dec'14	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	1,047	1,463	1,708	2,482	1,575	1,694	1,691	1,527	2,823	3,724
PBT ⓘ	993	1,877	2,387	2,896	3,280	2,355	1,767	2,142	3,800	5,202
Adjustment ⓘ	134	-158	-191	-44	-339	-118	145	29	-272	-798
Changes in Working Capital ⓘ	202	263	163	438	-457	86	235	-131	66	388
Tax Paid ⓘ	-281	-519	-652	-807	-908	-628	-457	-514	-770	-1,068
Cash Flow From Investing Activity ⓘ	-1,214	-1,001	-1,744	-2,145	-660	-1,508	-1,625	-983	-2,416	-2,852
Capex	-968	-509	-547	-746	-790	-544	-515	-639	-674	-814
Net Investments	-242	-665	-1,202	-1,466	-25	-1,236	-844	-553	-2,076	-2,357
Others ⓘ	-5	173	6	67	156	272	-267	208	333	319
Cash Flow From Financing Activityⓘ	-162	-466	25	-262	-292	-858	-15	-593	-417	-844
Net Proceeds from Shares ⓘ	8	5	6	19	36	29	38	6	11	47
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	0	131	186
Interest Paid ⓘ	-10	-2	-2	-3	-5	-17	-16	-19	-18	-35
Dividend Paid ⓘ	-115	-407	0	-272	-300	-682	0	-465	-574	-1,013
Others ⓘ	-45	-61	21	-6	-24	-188	-37	-116	32	-28
Net Cash Flow ⓘ	-329	-4	-10	75	623	-673	51	-50	-11	27

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Dec'14	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	30.7	43.56	38.38	35.53	28.05	19.47	12.67	14.02	21.19	24.32
ROCE (%)	42.53	60.13	53.37	49.39	40.58	24.69	16.71	18.31	27.48	31.35
Asset Turnover Ratio	1.59	1.14	1.24	1.12	0.94	0.77	0.65	0.67	0.82	0.79
PAT to CFO Conversion(x)	1.49	1.09	1	1.14	0.71	0.93	1.26	0.91	0.97	0.93
Working Capital Days
Receivable Days	21	16	2	2	3	3	5	8	8	8
Inventory Days	23	25	15	14	19	24	30	35	30	29
Payable Days	66	92	62	68	79	77	89	101	80	79

Eicher Motors Ltd Stock News

Eicher Motors Ltd FAQs

What is the share price of Eicher Motors?

Company share prices are keep on changing according to the market conditions. The closing price of Eicher Motors on 05-Nov-2024 00:00 is ₹4,899.5.

What is the market cap of Eicher Motors?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 05-Nov-2024 00:00 the market cap of Eicher Motors stood at ₹1,34,562.4.

What is the P/E ratio of Eicher Motors?

The latest P/E ratio of Eicher Motors as of 05-Nov-2024 00:00 is 34.30.

What is the P/B ratio of Eicher Motors?

The latest P/B ratio of Eicher Motors as of 05-Nov-2024 00:00 is 8.06.

What is the 52-week high and low of Eicher Motors?

The 52-week high of Eicher Motors is ₹5,104.5 and the 52-week low is ₹3,430.1.

What is the TTM revenue of Eicher Motors?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Eicher Motors is ₹16,144 ( Cr.) .

About Eicher Motors Ltd

Eicher Motors Limited is the flagship company of the Eicher Group in India and a leading player of the Indian automobile industry. The Company is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. The world’s oldest motorcycle brand in continuous production, Royal Enfield has made its distinctive motorcycles since 1901. Focussed on bringing back simple, yet engaging and accessible motorcycling, Royal Enfield operates in India, and over 60 countries around the world with modern development facilities in Leicestershire, UK and Chennai, India. Royal Enfield makes its motorcycles in Chennai, Tamil Nadu for the world. Royal Enfield has evolved into an experiential brand. Royal Enfield with its motorcycle that combines modern-day elements with the brand’s heritage, garners immense enthusiasm amongst global motorcyclists. In addition to motorcycles, Eicher has a joint venture with Sweden’s AB Volvo - Volvo Eicher Commercial Vehicles Limited (VECV) - has pioneered modernisation of commercial vehicles in India and other developing countries.

Business area of the company

The Company is engaged in the manufacturing and selling of motorcycles, spare parts and related services.

Products

Motorcycles
Commercial Vehicles (CV)
Engineering Components

Awards

2015-16

Emerging Company of the Year award - ET Awards 2015
Best Company of the Year award - Business Standard Annual Awards, 2015

2016-17

The Himalayan won the Motorcycle of the Year Award up to 500 cc at the NDTV Car and Bike Awards 2017.

2017-18

VECV was honoured with ‘Excellence in HR’ at the Manufacturing Today Awards 2017
VECV won ET Now HR Leadership Awards 2018 in the Best Talent Management Strategy

2018-19

VECV won ‘Best Risk Management Framework and System Automotive and Auto Ancillary’ award by ICICI Lombard and CNBC TV-18
Interceptor 650 won the prestigious ‘Best Modern Classic Middle-Weight’ a prestigious category award at the Thailand Bike of the Year 2019 awards.

2019-20

Team Eicher won the Gold Medal in the General Management Category at AIMA Corporate Management Olympiad.
VECV won the Best Experiential and Brand Experiences award for ‘Samvaad’, an initiative by Eicher Buses, at BTVI National Awards for Marketing Excellence.

Milestones

1948: Goodearth Company set up to sell and service imported tractors
1952-57: Goodearth Company imported and sold about 1500 tractors in India
1958: Eicher Tractor Corporation of India Limited incorporated
1959: First indigenous Eicher tractor built. Eicher came out with India’s first indigenously built tractor from its Faridabad factory.
1960: Eicher changed name from Eicher Tractor Corporation of India Private Limited to Eicher Tractors India Limited
1965-75: 100% indigenization achieved in Eicher Tractors
1980: Eicher Goodearth Limited name given to Eicher.
1982: Collaboration agreement with Mitsubishi for the manufacture of Light Commercial Vehicles signed in Tokyo.
1982: Incorporation of Eicher Motors Limited
1985: Silver Jubilee Year for Eicher
1986: Eicher Motors Limited springs into operation
1987: Eicher Tractors went public
1990: Eicher Goodearth buys 26% equity stake in Enfield India Limited
1991: ECS launched; Eicher takes over Ramon & Demm.
1992: Eicher Tractors Limited selected as ‘Company of the Year’ for 1990-91 in the four-wheeler category comprising commercial vehicles, passenger cars, jeeps and tractors.
1993: Eicher adopts new identifier. Eicher acquires majority stake in Enfield India (60% equity shareholding)
1994: Eicher Motors Limited ends the technical assistance agreement with Mitsubishi after a successful transfer of technology and achieving total indigenisation. Enfield India Limited changed its name to Royal Enfield Motors Limited
1996: Eicher Tractors Limited amalgamated with Royal Enfield Motors to form Eicher Limited
2005: Eicher Motors Limited has disinvested the businesses of tractors and engines to TAFE Motors & Tractors Limited (TMTL).
2008: Volvo Group and Eicher Motors Limited established VE Commercial Vehicles Limited (VECV).
2010: The company launched the VE-series of Heavy Duty trucks
2012: Royal Enfield launches the Thunderbird 500 and 350 models.
2013: Royal Enfield opens second manufacturing facility in Oragadam, Tamil Nadu.
2014: Royal Enfield opens its first concept store in Saket, New Delhi and launches its first exclusive store in London, UK.
2015: Royal Enfield acquires erstwhile collaborators Harris Performance of the U.K., a motorcycle engineering and design firm, to enhance its engineering and product design capabilities.
2015: Royal Enfield sets up its first direct distribution subsidiary outside India, in North America. Royal Enfield North America (RENA) is headquartered in Milwaukee, Wisconsin.
2016: Royal Enfield debuts its first purpose-built adventure tourer motorcycle - the Himalayan. With the all-new LS410 engine and terrain-tested chassis, it promises the ride of a lifetime on all roads and no roads
2017: Royal Enfield moves into its state-of-the-art Tech Centre at Leicestershire, UK to design and develop new motorcycle platforms for the global market
2018: Royal Enfield launches its first air-cooled parallel twin cylinder motorcycles in 50 years - Continental GT 650 and Interceptor INT 650 for the International and domestic market
2019: Royal Enfield transitions to BS VI emission norms for its current motorcycle portfolio and grew its retail network by opening studio stores - a unique, compact format that will house the entire range of Royal Enfield motorcycles