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Last Updated on: 24 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Eicher Motors Ltd

About the Company - Eicher Motors Ltd

Eicher Motors Ltd. is a Public Limited Listed company incorporated on 14/10/1982 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L34102DL1982PLC129877 and registration number is 129877. Currently Company is involved in the business activities of Manufacture of motorcycles. Company’s Total Operating Revenue is Rs. 10122.86 Cr. and Equity Capital is Rs. 27.34 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Auto - 2 & 3 Wheelers3rd Floor, New Delhi Delhi 110017investors@eichermotors.com
http://www.eichermotors.com
Management
NamePosition Held
Mr. Srinivasan SandilyaChairman & Ind.Dire (Non-Exe)
Mr. Siddhartha Vikram LalManaging Director & CEO
Mr. Govindarajan BalakrishnanWhole Time Director
Mr. Vinod AggarwalNon Executive Director
Mr. Inder Mohan SinghInd. Non-Executive Director
Ms. Manvi SinhaInd. Non-Executive Director

Basic Stock Data of Eicher Motors Ltd

Last Updated: June 24, 2024, 8:47 pm

Market Cap 1,33,133 Cr.
Current Price 4,871
High / Low4,978/3,159
Stock P/E33.3
Book Value 659
Dividend Yield0.76 %
ROCE31.1 %
ROE24.2 %
Face Value 1.00
PEG Ratio2.32

Eicher Motors Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales2,8282,9401,9742,2502,8813,1933,3973,5193,7213,8043,9864,1154,179
Expenses2,1562,3061,6511,7802,2982,4362,5662,6982,8642,8712,9663,0273,089
Operating Profit6726343244705827578318228579341,0211,0871,090
OPM %24%22%16%21%20%24%24%23%23%25%26%26%26%
Other Income15618312211812817282193256379344375368
Interest4463635788101312
Depreciation123125112109111119116127135148142143148
Profit before tax7026893284765938067928809711,1561,2121,3071,298
Tax %24%24%28%22%23%24%23%25%24%22%24%22%23%
Net Profit5335262373734566106116577419069181,016996
EPS in Rs19.4919.258.6713.6516.6822.3122.3324.0227.0933.1133.5837.1236.38

Eicher Motors Ltd Quarterly Chart

Eicher Motors Ltd Profit & Loss

MonthDec 2011Dec 2012Dec 2013Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales5,6846,3906,8108,7386,1737,0338,9659,7979,1548,72010,29814,44215,626
Expenses5,0945,8406,0947,6214,4844,8596,1566,8936,9716,9378,12010,99611,727
Operating Profit5905507151,1181,6902,1742,8092,9042,1831,7832,1783,4463,899
OPM %10%9%11%13%27%31%31%30%24%20%21%24%25%
Other Income141136931053264165367015724824969081,354
Interest8481024571916192839
Depreciation6482130220137154223300382451452526568
Profit before tax6606006719931,8772,4333,1163,2972,3551,7982,2033,8004,646
Tax %25%21%22%29%29%30%30%33%22%25%24%23%
Net Profit4974755257021,3381,6671,9602,2031,8271,3471,6772,9143,581
EPS in Rs11.4412.0114.5722.7149.2761.2771.8980.7566.9149.2861.32106.55130.90
Dividend Payout %14%17%21%22%20%16%15%15%19%34%34%35%

Eicher Motors Ltd Profit & Loss Yearly Chart

Eicher Motors Ltd Growth

Compounded Sales Growth
10 Years:9%
5 Years:11%
3 Years:24%
TTM:15%
Compounded Profit Growth
10 Years:27%
5 Years:13%
3 Years:44%
TTM:37%
Stock Price CAGR
10 Years:21%
5 Years:19%
3 Years:20%
1 Year:28%
Return on Equity
10 Years:23%
5 Years:19%
3 Years:20%
Last Year:24%

Last Updated: May 31, 2024, 5:42 am

Eicher Motors Ltd Balance Sheet

MonthDec 2011Dec 2012Dec 2013Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital27272727272727272727272727
Reserves1,4661,7282,0282,4893,6265,3187,0038,8919,95411,41112,58114,96315,904
Borrowings4323845823112151187249219108288416
Other Liabilities2,2572,6943,1973,8291,2631,5522,3412,2812,2202,9013,4243,9194,715
Total Liabilities3,7934,4715,3376,4034,9397,0099,52211,38712,45014,55916,14019,19821,062
Fixed Assets5049921,6562,3097908731,5021,8752,3782,4332,4242,6903,158
CWIP35250446441994374333450312314505472167
Investments5136388251,0783,3884,9875,5814,9235,7493,9027,72112,32112,965
Other Assets2,4242,3372,3912,5976677752,1064,1404,0117,9095,4903,7154,772
Total Assets3,7934,4715,3376,4034,9397,0099,52211,38712,45014,55916,14019,19821,062

Eicher Motors Ltd Reserves and Borrowings Chart

Eicher Motors Ltd Cash Flow

MonthDec 2011Dec 2012Dec 2013Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 4054967161,0471,4631,7082,4821,5751,6941,6911,5272,847
Cash from Investing Activity -338-773-790-1,214-1,001-1,744-2,145-660-1,508-1,625-983-2,422
Cash from Financing Activity -114-111-47-162-46625-262-292-858-15-593-417
Net Cash Flow-47-388-121-329-4-1075623-67351-508

Eicher Motors Ltd Financial Efficiency Indicators

MonthDec 2012Dec 2013Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days2527232333371198
Inventory Days394141333331464262695757
Days Payable76949677759289741081108085
Cash Conversion Cycle-12-25-31-42-40-58-40-28-39-29-14-19
Working Capital Days-20-27-33-45-49-58-35-37-23-12-1212
ROCE %22%22%28%51%53%49%41%25%17%18%27%

Eicher Motors Ltd Financial Efficiency Indicators Chart

Eicher Motors Ltd Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters49.22%49.22%49.22%49.21%49.21%49.21%49.20%49.20%49.18%49.15%49.15%49.14%
FIIs28.83%30.28%29.45%29.22%29.50%30.25%29.85%28.63%30.28%28.89%30.27%28.95%
DIIs9.50%8.65%9.73%9.95%10.13%9.95%9.96%11.19%10.03%10.48%9.73%11.04%
Government0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%0.10%
Public12.36%11.76%11.50%11.52%11.06%10.48%10.88%10.88%10.43%11.37%10.76%10.77%
No. of Shareholders2,58,5442,49,2882,71,0752,63,4792,34,5122,38,2942,60,1612,66,1682,45,4612,80,5302,48,4862,63,132

Eicher Motors Ltd Shareholding Pattern Chart

No. of Eicher Motors Ltd Shareholders

Eicher Motors Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Nifty 50 ETF2,540,2470.54837.15325,0002024-06-23681.61%
SBI Blue Chip Fund2,510,5402.14827.36325,0002024-06-23672.47%
Mirae Asset Large Cap Fund1,064,4701.02350.8325,0002024-06-23227.53%
Mirae Asset Emerging Bluechip Fund820,2440.96270.32325,0002024-06-23152.38%
UTI Flexi Cap Fund736,8101242.82325,0002024-06-23126.71%
UTI Transportation and Logistic Fund607,7028.53200.27325,0002024-06-2386.99%
UTI Value Fund375,0001.67123.58325,0002024-06-2315.38%
Franklin India Bluechip Fund - Dividend325,0001.61107.11325,0002024-06-230%
Franklin India Bluechip Fund - Growth325,0001.61107.11325,0002024-06-230%
UTI Large Cap Fund323,5430.96106.63325,0002024-06-23-0.45%

Eicher Motors Ltd ROCE Trend

Eicher Motors Ltd EPS Trend

Eicher Motors Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.0010.0010.00
Basic EPS (Rs.)106.5661.3349.30669.52807.76
Diluted EPS (Rs.)106.3861.2649.24669.19806.86
Cash EPS (Rs.)114.2675.6564.64797.53829.23
Book Value[Excl.RevalReserv]/Share (Rs.)548.09461.16418.523656.023269.32
Book Value[Incl.RevalReserv]/Share (Rs.)548.09461.16418.523656.023269.32
Revenue From Operations / Share (Rs.)528.05376.66319.083352.963591.30
PBDIT / Share (Rs.)147.6795.5881.76997.651226.72
PBIT / Share (Rs.)128.4379.0565.27857.901116.65
PBT / Share (Rs.)127.4078.3664.66850.981113.96
Net Profit / Share (Rs.)95.0259.1248.14657.78719.15
NP After MI And SOA / Share (Rs.)106.5461.3249.28669.39807.45
PBDIT Margin (%)27.9625.3725.6229.7534.15
PBIT Margin (%)24.3220.9820.4525.5831.09
PBT Margin (%)24.1220.8020.2625.3831.01
Net Profit Margin (%)17.9915.6915.0819.6120.02
NP After MI And SOA Margin (%)20.1716.2815.4419.9622.48
Return on Networth / Equity (%)19.4313.2911.7718.3024.69
Return on Capital Employeed (%)22.0016.3514.9522.4632.79
Return On Assets (%)15.1710.349.2514.6719.34
Total Debt / Equity (X)0.010.000.010.010.02
Asset Turnover Ratio (%)0.850.700.680.821.03
Current Ratio (X)1.141.883.353.152.10
Quick Ratio (X)0.741.503.022.871.80
Inventory Turnover Ratio (X)7.656.507.538.1010.11
Dividend Payout Ratio (NP) (%)19.7027.710.0037.3413.61
Dividend Payout Ratio (CP) (%)16.6921.830.0030.8911.98
Earning Retention Ratio (%)80.3072.290.0062.6686.39
Cash Earning Retention Ratio (%)83.3178.170.0069.1188.02
Interest Coverage Ratio (X)144.14139.14135.83144.26456.55
Interest Coverage Ratio (Post Tax) (X)93.7587.0780.9996.11268.65
Enterprise Value (Cr.)80025.1864605.0765487.5432921.9053249.41
EV / Net Operating Revenue (X)5.546.277.513.605.44
EV / EBITDA (X)19.8124.7229.3112.0915.91
MarketCap / Net Operating Revenue (X)5.596.538.163.905.72
Retention Ratios (%)80.2972.280.0062.6586.38
Price / BV (X)5.385.346.223.586.28
Price / Net Operating Revenue (X)5.596.538.163.905.72
EarningsYield0.030.020.010.050.03

Eicher Motors Ltd Profitability Ratios (%)

Eicher Motors Ltd Liquidity Ratios

Eicher Motors Ltd Liquidity Ratios (%)

Eicher Motors Ltd Interest Coverage Ratios (%)

Eicher Motors Ltd Valuation Ratios

Fair Value

Fair Value: 5,350.98

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 9.85% compared to the current price 4871

Intrinsic Value: 6,119.60

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 25.63% compared to the current price ₹4871

Last 5 Year EPS CAGR: 14.36%

*Investments are subject to market risks

Strength and Weakness of Eicher Motors Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 29.42%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -28.25, which is a positive sign.
  3. The stock has a low average Cash Conversion Cycle of -31.42, which is a positive sign.
  4. The company has higher reserves (7,489.38 cr) compared to borrowings (150.85 cr), indicating strong financial stability.
  5. The company has shown consistent growth in sales (8.54 cr) and profit (226.54 cr) over the years.

    FAQ

    What is the latest fair value of Eicher Motors Ltd?

    The latest fair value of Eicher Motors Ltd is ₹5350.98.

    What is the Market Cap of Eicher Motors Ltd?

    The Market Cap of Eicher Motors Ltd is 1,33,133 Cr..

    What is the current Stock Price of Eicher Motors Ltd as on 24 June 2024?

    The current stock price of Eicher Motors Ltd as on 24 June 2024 is ₹4,871.

    What is the High / Low of Eicher Motors Ltd stocks in FY 2024?

    In FY 2024, the High / Low of Eicher Motors Ltd stocks is 4,978/3,159.

    What is the Stock P/E of Eicher Motors Ltd?

    The Stock P/E of Eicher Motors Ltd is 33.3.

    What is the Book Value of Eicher Motors Ltd?

    The Book Value of Eicher Motors Ltd is 659.

    What is the Dividend Yield of Eicher Motors Ltd?

    The Dividend Yield of Eicher Motors Ltd is 0.76 %.

    What is the ROCE of Eicher Motors Ltd?

    The ROCE of Eicher Motors Ltd is 31.1 %.

    What is the ROE of Eicher Motors Ltd?

    The ROE of Eicher Motors Ltd is 24.2 %.

    What is the Face Value of Eicher Motors Ltd?

    The Face Value of Eicher Motors Ltd is 1.00.

    About the Author

    Author Avatar
    Getaka

    Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

    Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Eicher Motors Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE