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Eicher Motors Ltd

₹ 7,302-0.71%
16 Jan 4:01 p.m. – close price
🔗eicher.in•BSE: 505200•NSE: EICHERMOT
Market Cap₹ 2,00,389 Cr.
Current Price₹ 7,302
High / Low₹ 7,614
Stock P/E42.7
Book Value₹ 701
Dividend Yield0.96 %
ROCE31.7 %
ROE25.1 %
Face Value₹ 1.00
Sales₹ 20,825 Cr.
OPM24.9 %
Mar Cap₹ 2,00,389 Cr.

ABOUT

Eicher Motors Limited, incorporated in 1982, is the listed company of the Eicher Group in India and a leading player in the Indian automobile industry and the global leader in middleweight motorcycles.Eicher has a joint venture with Sweden’s AB Volvo to create Volvo Eicher Commercial Vehicles Limited (VECV). VECV is engaged in truck and bus operations, auto components business, and technical consulting services business[1]

KEY POINTS

Business Verticals

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsOrder Book PositionJv Partnerships AcquisitionsRevenue Guidance Vs ActualsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Bajaj Auto9468.6531.78264726.862.212122.0353.1715734.7418.7828.0654683.2919.628329.972122.037.7415.630.58
2.Eicher Motors7302.0042.67200388.620.961208.0119.625902.0740.3431.7320825.2224.904695.861208.0110.4219.240.01
3.TVS Motor Co.3670.2066.96174484.680.27832.7641.9314051.2224.3315.3548838.1515.252605.48795.4821.485.152.08
4.Hero Motocorp5628.0021.34112745.962.931320.9823.0512218.3916.5630.3442175.8414.315283.061308.895.3615.620.03
5.Ather Energy618.75–23666.680.00-154.1021.86898.9054.05-65.712854.50-20.32-764.50-154.108.65-40.470.16
6.Ola Electric37.24–16421.680.00-418.0015.56690.00-43.16-28.093174.00-50.25-2280.00-418.003.78-23.940.72
7.Eraaya Lifespace44.73–924.550.00-23.54-2182.29609.2836826.060.862088.741.76-370.38-19.9911.28-15.2317.75
–Median: 10 Co.473.8831.7820044.180.310.1632.49794.4532.3417.643014.2513.0317.8810.167.746.960.64

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
3,3973,5903,8313,9013,9314,0544,1924,2314,2054,9085,1074,9085,902
Expenses
2,5942,7332,8872,8882,8332,9393,0373,0533,1013,6843,8463,6774,433
Operating Profit
8048579451,0131,0971,1151,1551,1791,1051,2241,2611,2311,469
Other Income
153191203335276250307417337300354659340
Profit before tax
8299141,0021,2091,2381,2211,3021,4331,2681,3501,4181,6971,614
Tax %
26%26%25%24%24%25%24%24%20%22%21%23%25%
Net Profit
6156817479149389149831,0881,0101,0561,1251,3061,208
EPS in Rs
22.4824.8927.3133.4234.2833.3835.9139.7136.8538.5341.0447.6444.04

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Dec 2013Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1,7023,0316,1867,0388,9589,7949,0778,61910,12314,06716,07818,45120,825
Expenses
1,3892,2974,4784,8326,1036,8466,8716,8318,00510,67211,69613,67415,641
Operating Profit
3147341,7082,2062,8542,9482,2071,7882,1183,3944,3824,7785,184
Other Income
80116283227194866124504506391,1661,3991,653
Interest
0223331191013192428
Depreciation
3050137153222299378446446512559684730
Profit before tax
3637981,8532,2772,6483,1332,4301,7832,1123,5084,9705,4696,079
Net Profit
2795591,3091,5601,7132,0541,9041,3301,5862,6233,7494,2794,696
EPS in Rs
10.3020.6248.2057.3362.8475.3169.7148.6558.0195.90136.94156.08171.25
Dividend Payout %
29%24%21%17%18%17%18%35%36%39%37%45%–

Compounded Sales Growth

10 Years:20%
5 Years:15%
3 Years:22%
TTM:25%

Compounded Profit Growth

10 Years:24%
5 Years:18%
3 Years:39%
TTM:18%

Stock Price CAGR

10 Years:17%
5 Years:21%
3 Years:32%
1 Year:45%

Return on Equity

10 Years:26%
5 Years:22%
3 Years:25%
Last Year:25%

Balance Sheet

Standalone figures in ₹ crores

Dec 2013Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
27272727272727272727272727
Reserves
7941,2072,3093,8955,3457,0998,2489,67810,76712,86015,66618,47219,188
Borrowings
40236786761016053140210267274
Other Liabilities
6589951,2651,5502,3362,2752,2032,8603,3753,8484,5695,3196,327
Total Liabilities
1,4832,2293,6245,5407,7959,47710,57912,62514,22316,87620,47324,08625,817
Fixed Assets
2995017888701,4971,8712,3692,4232,4012,6002,7743,3353,912
Gross Block
–6391,0601,2922,1392,7613,5724,0334,3725,0295,5206,547–
Accumulated Depreciation
–1382714226428901,2041,6101,9712,4282,7463,212–
CWIP
145994374333450312310504468553477123
Investments
8561,1892,0743,5423,8663,0473,9262,0455,95010,28011,30712,02713,687
Other Assets
3144806677552,0984,1103,9737,8475,3683,5275,8388,2488,095
Total Assets
1,4832,2293,6245,5407,7959,47710,57912,62514,22316,87620,47324,08625,817

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Dec 2013Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
3686861,4741,7612,5151,6081,7181,6741,5702,7863,8453,830
Cash from Investing Activity
-298-598-1,017-1,752-2,158-673-1,506-1,615-1,138-2,374-2,995-2,443
Cash from Financing Activity
-55-86-466-19-280-334-883-16-474-441-796-1,315
Net Cash Flow
152-8-1076601-67144-42-295372

Ratios

Standalone Figures in ₹ Crores / Yearly

Dec 2013Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
31333451118181321
Inventory Days
504132323044385555414540
Days Payable
111997675928973107108798588
Cash Conversion Cycle
-59-56-42-41-59-41-30-41-35-20-27-27
Working Capital Days
-92-80-46-53-62-37-38-24-15-12535
ROCE %
46%72%103%72%63%50%31%20%21%29%34%32%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
49.20%49.20%49.18%49.15%49.15%49.14%49.11%49.10%49.09%49.08%49.07%49.06%
FIIs
29.85%28.63%30.28%28.89%30.27%28.95%28.81%27.61%25.42%25.02%25.82%26.98%
DIIs
9.96%11.19%10.03%10.48%9.73%11.04%11.84%13.67%16.11%16.55%15.67%14.62%
Public
10.88%10.88%10.43%11.37%10.76%10.77%10.14%9.52%9.30%9.26%9.35%9.25%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Eicher Motors Records Highest-Ever Annual Sales of Over 1.2 Million Units in FY26

1st April 2026, 10:34 pm

Eicher Motors: VE Commercial Vehicle Sales Volume Up 10.6% in March 2026

1st April 2026, 6:32 pm

Royal Enfield Launches 2026 Guerrilla 450 APEX with New Features and Pricing

27th March 2026, 9:25 pm

Eicher Motors Announces Trading Window Closure from April 1, 2026

26th March 2026, 5:51 pm

VE Commercial Vehicles Ltd (VECV) Appoints New MD & CEO, Chairman

10th March 2026, 11:44 pm

Published by Other Websites

External media mentions & references

Rupee Surge Fuels Indian Market Recovery; Nifty Tops 22,700

2nd April 2026, 4:37 pm

Crude Oil Skyrockets on Trump Iran Warning, Indian Stocks Tumble

2nd April 2026, 1:39 pm

Honda's Shine 100 Fuels 20% Market Share Surge in India

2nd April 2026, 1:34 pm

Royal Enfield Shatters Records: 1.2M+ Units Sold, 23% Annual Surge

2nd April 2026, 10:25 am

Retail Valuations Stretched; Mehta Bets on Travel, Defence

2nd April 2026, 10:19 am

News Articles

Editorial & research coverage

Indian Stocks: Alpha Opportunities Amidst Tech Rout
Indian Stocks: Alpha Opportunities Amidst Tech Rout

14th February 2026, 10:17 am

AI Fears, Dollar Surge Sink Indian Markets
AI Fears, Dollar Surge Sink Indian Markets

13th February 2026, 5:18 pm

Eicher Motors Hits Record High Amidst Rally and Expansion
Eicher Motors Hits Record High Amidst Rally and Expansion

13th February 2026, 1:01 pm

IT Sector Sell-Off Drives Nifty Down Amid AI Disruption Fears
IT Sector Sell-Off Drives Nifty Down Amid AI Disruption Fears

12th February 2026, 8:29 pm

Sector Surge Faces Scrutiny: Hotels, Metals, Autos Under Pressure
Sector Surge Faces Scrutiny: Hotels, Metals, Autos Under Pressure

12th February 2026, 11:59 am

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Announcement under Regulation 30 (LODR)-Monthly Business Updates

1 Jan - Royal Enfield sold 103,574 motorcycles in Dec 2025; 30% YoY; domestic 93,177, exports 10,397.

Announcement under Regulation 30 (LODR)-Monthly Business Updates

1 Jan - VECV Dec'25 sales: 10,384 units; YTD 69,597; Dec growth 24.7%.

Demand Order Received By Company'S Material Subsidiary

30 Dec - VE Commercial Vehicles received Rs.96.18 crore GST demand order on 29-Dec-2025; will appeal.

Closure of Trading Window

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2013

(from nse)

Financial Year 2012

(from bse)

Credit Ratings

Rating update

11 Dec 2025 from icra

Rating update

29 Oct 2024 from icra

Rating update

18 Aug 2023 from icra

Rating update

23 Mar 2023 from icra

Rating update

2 Nov 2022 from icra

Rating update

1 Sep 2021 from icra

Concalls

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Stock Analysis

Description

  1. Eicher Motors Limited, incorporated in 1982, is a leading player in the Indian automobile industry and a global leader in middleweight motorcycles. It operates a joint venture with AB Volvo (VECV) for truck and bus operations, auto components, and technical consulting.

Key Growth Triggers

  1. Strong volume growth across its key segments, with Royal Enfield showing impressive growth in international markets.
  2. New model launches and product refreshes, such as the Hunter 350, Guerrilla 450, Meteor 350, and Bullet 650, are driving sales.
  3. Strategic partnerships, like the one with Flipkart for online motorcycle sales, are enhancing accessibility.
  4. Advancements in electric mobility, with the unveiling of the Flying Flea S6 electric motorcycle planned for a 2026 launch.
  5. VECV is expanding capacity with a new manufacturing facility for automated manual transmissions.
  6. Positive market reception to GST benefits and strong festive season demand contributed to recent performance.

Order Book

Currently no data available for Order Book.

Key Red Flags

  1. Eicher Motors' subsidiary received a GST demand order of ₹16,54,341 due to a mismatch in e-waybill/e-invoice details, though the company considers it non-maintainable and expects no significant financial impact.

Key Dates To Watch

No specific future dates are mentioned in this announcement.

Corporate Announcements

1st Apr 26
Impact Rating: 9
Eicher Motors reported record annual sales over 1.2 million units for FY26 and 11% growth in March 2026 sales. The company will invest ₹958 crores to expand Cheyyar capacity from 14.6 lakh to 20 lakh units annually.
1st Apr 26
Impact Rating: 8
Eicher Motors announced that its subsidiary VE Commercial Vehicles saw its sales volume grow by 10.6% in March 2026, totaling 13,311 units. Domestic sales increased by 13.6% while exports declined.
27th Mar 26
Impact Rating: 7
Royal Enfield launched the 2026 Guerrilla 450 APEX, featuring a sportier design, new road-biased tyres, and updated ride modes. Existing variants also get upgrades, with prices ranging from ₹2,49,194 (₹2.49 lakh) to ₹2,72,479 (₹2.72 lakh).
26th Mar 26
Impact Rating: 3
In compliance with SEBI insider trading rules, Eicher Motors will shut its trading window for securities from April 1, 2026. The duration of closure is until further communication from the company.
10th Mar 26
Impact Rating: 7
Eicher Motors' subsidiary VE Commercial Vehicles Ltd (VECV) has announced leadership changes, appointing B. Srinivas as its new Managing Director & CEO and Vinod Aggarwal as Chairman, both effective April 1, 2026.