Sharekhan's research report on Eicher Motors
Operating performance was in-line, while bottom line was ahead of estimates due to writeback of taxes in VECV business. Management has guided for growth in domestic and export volumes in FY25. Stock trades at P/E multiple of 24.2x and EV/EBITDA multiple of 19.3x its FY26E estimates.
Outlook
We maintain our Buy rating on the stock with an unchanged PT of Rs. 5307 on account of its leadership position in the premium motorcycle segment, rising premiumisation, and focus on balanced growth.
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