Shares of Eicher Motors fell over 2 per cent in early trade ahead of the firm’s September quarter earnings set to be announced today. Eicher Motors stock fell 2.56 percent to Rs 3,637 on BSE. The share opened lower at Rs 3,727 against the previous close of Rs 3732.80. Eicher Motors shares are trading higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages. The large cap share has gained 34.12 per cent in one year and climbed 41.82 per cent since the beginning of this year. The stock has risen 4% in a month. Market cap of the firm fell to Rs 1 lakh crore on BSE.
Total 3382 shares changed hands amounting to turnover of Rs 1.24 crore. The share hit a 52-week high of Rs 3,886 on November 1, 2022 and 52-week low of Rs 2110 on March 7, 2022.
Kotak Institutional Equities (KIE) expects Eicher Motors to report a 56.3 per cent rise in sales to Rs 3516.4 crore in Q2 against Rs 2249.6 crore sales in the corresponding quarter of the previous fiscal. The firm is expected to post a profit of Rs 678.8 crore against a profit of Rs 373.2 crore in the year-ago quarter.
EBITDA is likely to zoom 85.6 per cent to Rs 872.1 crore in the last quarter against Rs 469.9 crore in the corresponding quarter of the previous fiscal. On a quarter-on-quarter basis, EBITDA is likely to rise 4.9 per cent from Rs 831.1 crore in the June quarter.
Another brokerage YES Securities expects the firm to report a 57 per cent rise in revenue to Rs 3532.5 crore in Q2 .
The firm is expected to post a 94 per cent rise in profit to Rs 646.3 crore in the last quarter.
“Royal Enfield 2QFY23 volumes rose 68% YoY/11% QoQ at 2,08,000 units, while VECV volumes grew 16% YoY/ 1% QoQ to 17.6k units. We expect the firm to report consolidated revenue growth of 57% YoY/ 4% QoQ at Rs 3530 crore, with margins to remain flat QoQ at 24.5% (vs 19.1% in 2QFY 22),” said YES Securities.
Eicher Motors reported a 157.52 per cent year-on-year (YoY) rise in consolidated net profit for the quarter ended June 2022. Net profit in Q1 came at Rs 610.66 crore compared with Rs 237.13 crore in the corresponding quarter last year. Consolidated revenue from operations rose 71.18 per cent YoY to Rs 3,325.80 crore from Rs 1,942.84 crore in the corresponding quarter last year.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) zoomed 128.97 percent to Rs 831 crore in Q1 as compared to Rs 363 crore in the same quarter of the previous financial year.
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