Eicher Motors Ltd logo

Eicher Motors Ltd

EICHERMOT NSE

Key Fundamentals

LargecapBikesAutomobiles
Market Cap
2.2L Cr
Volatility
Moderate
P/E Ratio
38.48
EBITDA
₹7,272 Cr
Return on Equity
21.97%
Debt to Equity
0.02
Book Value
₹914.32
EPS
₹152.7
52W High
₹8,230
52W Low
₹5,825.5

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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47 extracted metrics + investor summaries across FY11–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has delivered good profit growth of 32.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 38.7%

Weaknesses

2
  • Stock is trading at 8.80 times its book value
  • Earnings include an other income of Rs.2,260 Cr.

Growth Rate

Revenue Growth
23.39% ↗
Net Income Growth
16.49% ↗
Cash Flow Change
20.73% ↗
ROE
-1.17% ↗
ROCE
1.11% ↗
EBITDA Margin (Avg.)
-2.05% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk medium

Eicher Motors, with a market cap of ₹2.20 lakh crore, trades at a PE of 38.1x and PB of 8.77x while delivering 24% ROE and 28% TTM sales growth. The company is virtually debt-free with a 38.7% dividend payout, though a significant portion of earnings includes other income of ₹2,260 crore.

Bull Case 7
  • Company is almost debt-free, giving it a clean balance sheet and financial flexibility to invest in growth initiatives
  • Compounded profit growth of 33% CAGR over 5 years demonstrates strong earnings momentum and operating leverage
  • Consistent ROE of 22-24% across 3, 5, and 10-year periods signals durable capital efficiency and competitive moat
  • TTM sales growth of 28% indicates accelerating revenue momentum compared to 17% 3-year and 14% 10-year CAGR
  • Healthy dividend payout of 38.7% reflects shareholder-friendly capital allocation alongside reinvestment for growth
  • Stock CAGR of 41% over 1 year and 34% over 3 years shows sustained investor confidence and price momentum
  • Dividend yield of 1.02% provides a modest income component for a growth-oriented auto stock
Bear Case 8
  • Stock trades at 8.77x book value, well above typical auto sector valuations, leaving limited margin of safety
  • PE of 38.1x is elevated for an automobile company, pricing in significant future growth that must be sustained
  • Earnings include other income of ₹2,260 crore, raising questions about the quality and sustainability of core operating profits
  • TTM profit growth of 20% trails TTM sales growth of 28%, suggesting potential margin compression or one-off cost pressures
  • 10-year profit CAGR of 15% versus 5-year CAGR of 33% shows that recent growth rates may be cyclical rather than structural
  • 10-year stock CAGR of only 14% versus 3-year CAGR of 34% indicates long-term returns have been uneven with extended flat periods
  • At ₹2.20 lakh crore market cap, the company needs to sustain high growth rates to justify current valuation multiples in a cyclical industry
  • 10-year compounded sales CAGR of 14% suggests the business has structural growth ceiling that current 28% TTM pace may not sustain

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 17h ago
Positives 6
  • July sales surge 34% YoY Aug 1

    Royal Enfield sold 1,18,232 motorcycles in July 2026, up 34% YoY. Domestic sales jumped 38% while exports grew 10%.

  • Record Q1 FY27 results Jul 30

    Revenue grew 32% to ₹6,632 crore with 21% PAT rise. Royal Enfield volumes hit 332,940 units in the quarter.

  • ₹1,225 Cr Andhra Pradesh expansion Aug 1

    Eicher announced a greenfield expansion in Andhra Pradesh with an investment of ₹1,225 crore, signaling capacity build-up for future demand.

  • VECV sales up 15.8% Aug 1

    VE Commercial Vehicles sold 8,241 units in July 2026, up 15.8% YoY. YTD growth stands at 15.1%, driven by strong domestic truck demand.

  • FY26 consolidated revenue up 24% Jul 25

    Annual report shows consolidated revenue rose 24% to ₹23,408 crore; PAT up 16.5% to ₹5,515 crore. Dividend of ₹82/share recommended.

  • BRSR ESG report filed Jul 25

    Eicher submitted its Business Responsibility and Sustainability Report for FY 2025-26, disclosing ESG metrics and governance frameworks.

Neutral 4
  • Block trades by institutions Jul 23

    Two block trades executed on NSE — ₹24.96 crore (32,767 shares at ₹7,617.50) on Jul 21 and ₹21.61 crore (28,003 shares at ₹7,717.00) on Jul 23, indicating institutional activity.

  • Q1FY27 conference call held Jul 29

    Eicher hosted its Q1FY27 earnings conference call on July 29, 2026. Audio recording has been made available.

  • Cost Auditor appointed for FY27 Jul 29

    M/s. Jyothi Satish & Co. appointed as Cost Auditor for FY 2026-27, following Audit Committee recommendation.

  • Trading window opened Aug 1 Jul 29

    Insider trading window opens from August 1, 2026, per SEBI regulations.

TL;DR: Eicher Motors is firing on all cylinders — Royal Enfield domestic volumes are growing at 38% YoY, quarterly results are at record levels, and the commercial vehicles arm is contributing meaningfully. There are no visible headwinds in recent news flow, though valuations and export growth (10% vs 38% domestic) bear watching. The trend is strongly improving with capacity expansion underway to sustain momentum.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
3,986
4,115
4,179
4,256
4,393
4,263
4,973
5,241
5,042
6,172
6,114
6,080
6,632
Expenses
2,966
3,027
3,089
3,127
3,228
3,175
3,772
3,983
3,839
4,660
4,557
4,566
5,042
Operating Profit
1,021
1,087
1,090
1,129
1,165
1,088
1,201
1,258
1,203
1,512
1,557
1,514
1,591
OPM %
26%
26%
26%
27%
27%
26%
24%
24%
24%
24%
25%
25%
24%
Other Income
344
375
368
437
457
468
452
628
603
486
465
675
634
Interest
10
13
12
15
12
13
13
16
15
19
17
20
22
Depreciation
142
143
148
165
169
180
179
201
198
200
211
232
278
PBT
1,212
1,307
1,298
1,385
1,441
1,362
1,461
1,669
1,593
1,779
1,793
1,937
1,925
Tax %
24%
22%
23%
23%
24%
19%
20%
18%
24%
23%
21%
22%
24%
Net Profit
918
1,016
996
1,070
1,101
1,100
1,170
1,362
1,205
1,369
1,421
1,520
1,463
EPS in Rs
33.58
37.12
36.38
39.1
40.2
40.15
42.7
49.68
43.95
49.93
51.79
55.41
53.28
Figures in ₹ Crores

Profit & Loss

  Dec 2014Mar 2016 15mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
8,738
6,173
7,033
8,965
9,797
9,154
8,720
10,298
14,442
16,536
18,870
23,408
24,998
Expenses
7,621
4,484
4,859
6,156
6,893
6,971
6,937
8,120
10,996
12,206
14,148
17,618
18,825
Operating Profit
1,118
1,690
2,174
2,809
2,904
2,183
1,783
2,178
3,446
4,329
4,723
5,789
6,173
OPM %
13%
27%
31%
31%
30%
24%
20%
21%
24%
26%
25%
25%
25%
Other Income
105
326
416
536
701
572
482
496
908
1,521
1,994
2,225
2,260
Interest
10
2
4
5
7
19
16
19
28
51
54
72
78
Depreciation
220
137
154
223
300
382
451
452
526
598
729
840
920
PBT
993
1,877
2,433
3,116
3,297
2,355
1,798
2,203
3,800
5,202
5,933
7,102
7,434
Tax %
29%
29%
30%
30%
33%
22%
25%
24%
23%
23%
20%
22%
—
Net Profit
702
1,338
1,667
1,960
2,203
1,827
1,347
1,677
2,914
4,001
4,734
5,515
5,773
EPS in Rs
22.71
49.27
61.27
71.89
80.75
66.91
49.28
61.32
107
146
173
201
210
Div. Payout %
22%
20%
16%
15%
15%
19%
34%
34%
35%
35%
41%
41%
—
Figures in ₹ Crores

Balance Sheet

  Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
27
27
27
27
27
27
27
27
27
27
27
27
Reserves
2,489
3,626
5,318
7,003
8,891
9,954
11,411
12,581
14,963
18,018
21,269
25,073
Borrowings
58
23
112
151
187
249
219
108
288
419
458
514
Other Liabilities
3,829
1,263
1,552
2,341
2,281
2,220
2,901
3,424
3,919
4,650
5,420
6,549
Total Liabilities
6,403
4,939
7,009
9,522
11,387
12,450
14,559
16,140
19,198
23,115
27,174
32,164
Fixed Assets
2,309
790
873
1,502
1,875
2,378
2,433
2,424
2,690
2,914
3,473
3,852
CWIP
419
94
374
333
450
312
314
505
472
555
491
736
Investments
1,078
3,388
4,987
5,581
4,923
5,749
3,902
7,721
12,321
13,527
14,791
17,496
Other Assets
2,597
667
775
2,106
4,140
4,011
7,909
5,490
3,715
6,119
8,419
10,080
Total Assets
6,403
4,939
7,009
9,522
11,387
12,450
14,559
16,140
19,198
23,115
27,174
32,164
Figures in ₹ Crores

Cash Flow

  Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1,047
1,463
1,708
2,482
1,575
1,694
1,691
1,527
2,823
3,724
3,980
4,805
Investing
-1,214
-1,001
-1,744
-2,145
-660
-1,508
-1,625
-983
-2,397
-2,834
-2,461
-2,834
Financing
-162
-466
25
-262
-292
-858
-15
-593
-417
-844
-1,399
-1,983
Net Cash Flow
-329
-4
-10
75
623
-673
51
-50
8
45
121
-12
Free Cash Flow
79
954
1,161
1,736
786
1,150
1,176
888
2,149
2,909
2,951
3,538
CFO/OP
119
117
109
117
86
106
120
94
104
111
107
106
Figures in ₹ Crores

Ratios

  Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
23
2
3
3
3
3
7
11
9
8
11
6
Inventory Days
41
33
33
31
46
42
62
69
57
57
55
55
Days Payable
96
77
75
92
89
74
108
110
80
85
90
76
Cash Conversion Cycle
-31
-42
-40
-58
-40
-28
-39
-29
-14
-19
-24
-16
Working Capital Days
-35
-47
-55
-64
-42
-44
-30
-15
-14
5
31
22
ROCE %
28%
51%
53%
49%
41%
25%
17%
18%
27%
31%
30%
31%

Shareholding Pattern

As of Jun 2026
Promoters 49.02%
FIIs 25.53%
DIIs 16.06%
Public 7.51%
Others 1.89%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
49.23%
49.22%
49.22%
49.22%
49.21%
49.21%
49.21%
49.21%
49.20%
49.17%
49.16%
49.15%
49.15%
49.11%
49.10%
49.09%
49.08%
49.07%
49.06%
49.06%
49.06%
49.02%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
28.89%
0.00%
28.95%
28.81%
27.62%
25.43%
25.03%
25.83%
26.98%
27.01%
26.78%
25.53%
DIIs
8.72%
9.10%
8.32%
9.45%
9.68%
9.86%
9.21%
10.06%
11.28%
10.12%
10.58%
7.95%
11.14%
11.95%
13.76%
16.19%
16.63%
15.76%
14.72%
14.74%
14.82%
16.06%
Government
0.15%
0.10%
0.10%
0.10%
0.10%
0.10%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
9.74%
9.66%
9.02%
8.92%
8.93%
8.59%
8.37%
8.66%
8.76%
8.25%
9.07%
8.49%
8.50%
8.01%
7.53%
7.41%
7.36%
7.43%
7.31%
7.29%
7.48%
7.51%
Others
32.16%
31.92%
33.35%
32.31%
32.08%
32.24%
33.21%
32.07%
30.75%
32.45%
2.30%
34.41%
2.25%
2.12%
1.99%
1.87%
1.90%
1.92%
1.92%
1.90%
1.86%
1.89%
No. of Shareholders
2,50,684
2,58,544
2,49,288
2,71,075
2,63,779
2,34,512
2,38,294
2,60,161
2,66,168
2,45,461
2,80,530
2,48,486
2,63,132
2,56,978
2,47,951
2,46,190
2,49,483
2,54,118
2,52,901
2,60,429
2,80,399
2,83,648

Documents

Frequently Asked Questions about Eicher Motors Ltd

What does Eicher Motors Ltd do?
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 Li...
Where is Eicher Motors Ltd (EICHERMOT) listed?
Eicher Motors Ltd is listed on the Indian stock exchanges. It is listed on NSE: EICHERMOT and BSE: 505200. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Eicher Motors Ltd belong to?
Eicher Motors Ltd operates in the Automobiles sector within the Bikes industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Eicher Motors Ltd?
Eicher Motors Ltd has a market capitalisation of approximately ₹221299.91 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Eicher Motors Ltd?
The Price-to-Earnings (PE) ratio of Eicher Motors Ltd is 38.48. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Eicher Motors Ltd?
Over the past 52 weeks, Eicher Motors Ltd has traded between a low of ₹5,825.5 and a high of ₹8,230. This range helps investors understand the stock's price volatility and recent trading levels.
Does Eicher Motors Ltd pay dividends?
Yes, Eicher Motors Ltd has a dividend yield of 1.02%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Eicher Motors Ltd?
Eicher Motors Ltd has a Return on Equity (ROE) of 21.97%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Eicher Motors Ltd on Tapetide?
On Tapetide, you can view Eicher Motors Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website eicher.in
CEO Mr. Siddhartha Vikram Lal PGDME
Employees 5,178
Listed 2004-09-07
Face Value ₹ 1
Issued Size 27,42,99,237

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