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Eicher Motors riding fast on strong demand, new products

Order book remains healthy; valuation at a discount to fair value

August 11, 2022 / 09:51 AM IST
Eicher Motors riding fast on strong demand, new products

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Eicher Motors (EML; CMP: Rs 3144.9; M Cap: Rs 86,310 crore) made a strong start to fiscal FY23 with the highest ever revenue and operating profit for Royal Enfield (RE), driven by a strong demand and new products. The outlook for the company is positive on the back of pent-up demand for bikes, preference for premium bikes, a sharp momentum in export demand, significant improvement in the CV segment, and an improvement in fleet utilisation. Quarter in a nutshell (image) Key highlights Royal Enfield...

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