Eicher Motors Limited (IN:EICHERMOT)
:EICHERMOT
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Eicher Motors Limited
(EICHERMOT)
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Rating:71Outperform
Price Target:
₹7,717.00
▲(7.34% Upside)
Action:Upgraded
Date:05/25/26
The score is driven primarily by strong financial performance (high growth/profitability and very low leverage). This is tempered by weaker near-term technical momentum and a relatively high P/E, with only a modest dividend yield providing support.
Positive Factors
Conservative Balance Sheet
Eicher’s very low leverage and rising equity provide durable financial resilience through auto cycles. Low debt reduces fixed obligations, preserves borrowing capacity for capex or model launches, and enables capital returns or M&A with limited refinancing risk over the next 2–6 months.
Negative Factors
Revenue Concentration
Heavy reliance on the Royal Enfield brand and the mid‑size motorcycle segment creates structural concentration risk. A slowdown in this category or brand fatigue would materially impact earnings; VECV JV performance adds reliance on commercial‑vehicle cycles and partner outcomes.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Eicher’s very low leverage and rising equity provide durable financial resilience through auto cycles. Low debt reduces fixed obligations, preserves borrowing capacity for capex or model launches, and enables capital returns or M&A with limited refinancing risk over the next 2–6 months.
Read all positive factors
Eicher Motors Limited (EICHERMOT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.04T
Dividend Yield0.96%
Average Volume (3M)13.87K
Price to Earnings (P/E)36.9
Beta (1Y)1.09
Revenue Growth24.04%
EPS Growth16.40%
CountryIN
Employees5,249
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)186.27
Shares Outstanding274,497,530
10 Day Avg. Volume5,987
30 Day Avg. Volume13,869
Financial Highlights & Ratios
PEG Ratio2.00
Price to Book (P/B)7.20
Price to Sales (P/S)7.72
P/FCF Ratio44.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹7,700.00Price Target Upside7.10% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)225.99
Revenue Forecast (FY)₹267.97B
Eicher Motors Limited Business Overview & Revenue Model
Company Description
Eicher Motors Limited, an automobile company, manufactures and sells motorcycles and commercial vehicles in India and internationally. It owns the Royal Enfield motorcycle brand that offers Classic, Bullet, Himalayan, Interceptor INT 650, Classic ...
How the Company Makes Money
Eicher Motors makes money primarily by selling motorcycles under the Royal Enfield brand. Revenue is generated through (1) sales of motorcycles to customers via its dealer network in India and international markets, where pricing and volumes are d...
Eicher Motors Limited Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 211.90B | 234.08B | 187.33B | 164.32B | 147.21B | 101.96B |
| Gross Profit | 90.77B | 78.62B | 82.69B | 72.96B | 63.74B | 41.06B |
| EBITDA | 53.62B | 57.85B | 44.13B | 40.93B | 36.44B | 20.06B |
| Net Income | 51.07B | 55.15B | 47.34B | 40.01B | 29.14B | 16.77B |
Balance Sheet | ||||||
| Total Assets | 289.44B | 321.64B | 271.74B | 231.28B | 191.98B | 162.01B |
| Cash, Cash Equivalents and Short-Term Investments | 48.70B | 30.88B | 37.97B | 14.58B | 10.50B | 31.21B |
| Total Debt | 4.46B | 5.14B | 4.58B | 4.19B | 2.88B | 1.08B |
| Total Liabilities | 68.58B | 68.93B | 58.78B | 50.82B | 42.07B | 35.93B |
| Stockholders Equity | 220.86B | 251.00B | 212.96B | 180.46B | 149.90B | 126.08B |
Cash Flow | ||||||
| Free Cash Flow | 20.41B | 40.47B | 29.41B | 30.87B | 21.40B | 8.86B |
| Operating Cash Flow | 26.58B | 53.22B | 39.80B | 39.06B | 28.23B | 15.27B |
| Investing Cash Flow | -7.72B | -35.19B | -24.83B | -30.59B | -24.22B | -9.83B |
| Financing Cash Flow | -19.43B | -19.45B | -13.99B | -8.19B | -4.17B | -5.93B |
Eicher Motors Limited Technical Analysis
Positive
7189.40
Price Trends
7042.08
Positive
7268.69
Positive
7008.49
Positive
Market Momentum
26.65
Negative
61.13
Neutral
95.06
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EICHERMOT, the sentiment is Positive. The current price of 7189.4 is above the 20-day moving average (MA) of 7148.00, above the 50-day MA of 7042.08, and above the 200-day MA of 7008.49, indicating a bullish trend. The MACD of 26.65 indicates Negative momentum. The RSI at 61.13 is Neutral, neither overbought nor oversold. The STOCH value of 95.06 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:EICHERMOT.
Eicher Motors Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹1.02T | 17.72 | ― | 2.90% | 15.85% | 31.09% | |
71 Outperform | ₹2.04T | 36.93 | ― | 0.96% | 24.04% | 16.40% | |
70 Outperform | ₹3.02T | 28.08 | ― | 2.31% | 23.36% | 46.63% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | ₹1.55T | 28.65 | ― | 0.91% | 2.50% | -3.70% | |
49 Neutral | ₹1.60T | 54.05 | ― | 0.27% | 26.32% | 35.09% |
* Consumer Cyclical Sector Average
IN:EICHERMOT
Eicher Motors Limited
7,419.55
2,111.70
39.78%
IN:BAJAJ.AUTO
Bajaj Auto Limited
10,810.25
2,156.27
24.92%
IN:HEROMOTOCO
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20.56%
IN:HYUNDAI
Hyundai Motor India Limited
1,913.50
61.29
3.31%
IN:TVSMOTOR
TVS Motor Company Limited
3,361.15
562.49
20.10%
Eicher Motors Limited Corporate Events
Eicher’s VE Commercial Vehicles Starts FY27 With 7% Volume Growth in April
May 1, 2026
Eicher Motors Limited reported that its unlisted subsidiary VE Commercial Vehicles posted a 6.9% year-on-year increase in total sales volumes for April 2026, reaching 7,318 units, including electric vehicles. Total Eicher-branded trucks and buses ...
Eicher Motors Posts 23% Full-Year Volume Growth on Strong Royal Enfield Demand
Apr 1, 2026
Eicher Motors reported that Royal Enfield motorcycle sales in March 2026 rose to 112,334 units, up 11% from 101,021 units a year earlier, driven mainly by a 12% increase in models up to 350cc and a 5% rise in bikes above 350cc. For the full year f...
Eicher’s VECV Posts Double-Digit February Volume Growth on Strong Truck Demand
Mar 1, 2026
Eicher Motors’ subsidiary VE Commercial Vehicles reported a strong rise in sales volumes for February 2026, underscoring robust momentum in its commercial vehicle franchise. Total VECV volumes, including EVs and Volvo-branded trucks and buse...
Eicher Motors Posts Double-Digit February Sales Growth on Strong 350cc Segment
Mar 1, 2026
Eicher Motors reported that its total Royal Enfield motorcycle sales rose to 100,905 units in February 2026, an 11% increase year-on-year, driven largely by a 16% rise in models with engine capacity up to 350cc. Sales of models above 350cc decline...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.