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Securities has buy call on . with a target price of Rs 2900. The current market price of Eicher Motors Ltd. is Rs 2573. Time period given by analyst is one year when Eicher Motors Ltd. price can reach defined target.
Eicher Motors Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 66514.27 Crore) operating in Auto sector.
Eicher Motors Ltd. key Products/Revenue Segments include Automobile - 2 Wheelers, Spare Parts & Components, Traded Goods, Other Services, Export Incentives, Scrap and Other Operating Revenue for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 3311.34 Crore, up 11.39 % from last quarter Total Income of Rs 2972.79 Crore and up 8.42 % from last year same quarter Total Income of Rs 3054.27 Crore. Company reported net profit after tax of Rs 556.35 Crore in latest quarter.
Investment Rationale
The near-term uncertainties due to supply chain issues notwithstanding, the expansion of product portfolio on new improved platforms will help EIM expand its addressable markets and drive the next phase of growth for RE. The stock trades at 24.3x/18.7x FY23E/FY24E consolidated EPS. It has cut target P/E multiple for RE to 20x (from 23x earlier), to reflect: a) a lower sustainable growth in the domestic market, b) rising competition and c) the impact of increase in risk-free rate. Maintain BUY with a TP of INR2,900 (premised on Jun’24E SoTP).
Promoter/FII Holdings
Promoters held 49.21 per cent stake in the company as of 31-Mar-2022, while FIIs owned 29.22 per cent, DIIs 9.94 per cent.
Eicher Motors Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 66514.27 Crore) operating in Auto sector.
Eicher Motors Ltd. key Products/Revenue Segments include Automobile - 2 Wheelers, Spare Parts & Components, Traded Goods, Other Services, Export Incentives, Scrap and Other Operating Revenue for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 3311.34 Crore, up 11.39 % from last quarter Total Income of Rs 2972.79 Crore and up 8.42 % from last year same quarter Total Income of Rs 3054.27 Crore. Company reported net profit after tax of Rs 556.35 Crore in latest quarter.
Investment Rationale
The near-term uncertainties due to supply chain issues notwithstanding, the expansion of product portfolio on new improved platforms will help EIM expand its addressable markets and drive the next phase of growth for RE. The stock trades at 24.3x/18.7x FY23E/FY24E consolidated EPS. It has cut target P/E multiple for RE to 20x (from 23x earlier), to reflect: a) a lower sustainable growth in the domestic market, b) rising competition and c) the impact of increase in risk-free rate. Maintain BUY with a TP of INR2,900 (premised on Jun’24E SoTP).
Promoter/FII Holdings
Promoters held 49.21 per cent stake in the company as of 31-Mar-2022, while FIIs owned 29.22 per cent, DIIs 9.94 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
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