Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Eicher Motors Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 3,804 | 3,986 | 4,115 | 4,179 | 4,256 | 4,393 | 4,263 | 4,973 | 5,241 | 5,042 | 6,172 | 6,114 | 6,080 |
| Expenses + | 2,871 | 2,966 | 3,027 | 3,089 | 3,127 | 3,228 | 3,175 | 3,772 | 3,983 | 3,839 | 4,660 | 4,557 | 4,566 |
| Operating Profit | 934 | 1,021 | 1,087 | 1,090 | 1,129 | 1,165 | 1,088 | 1,201 | 1,258 | 1,203 | 1,512 | 1,557 | 1,514 |
| OPM % | 25% | 26% | 26% | 26% | 27% | 27% | 26% | 24% | 24% | 24% | 24% | 25% | 25% |
| Other Income + | 379 | 344 | 375 | 368 | 437 | 457 | 468 | 452 | 628 | 603 | 486 | 465 | 675 |
| Interest | 8 | 10 | 13 | 12 | 15 | 12 | 13 | 13 | 16 | 15 | 19 | 17 | 20 |
| Depreciation | 148 | 142 | 143 | 148 | 165 | 169 | 180 | 179 | 201 | 198 | 200 | 211 | 232 |
| Profit before tax | 1,156 | 1,212 | 1,307 | 1,298 | 1,385 | 1,441 | 1,362 | 1,461 | 1,669 | 1,593 | 1,779 | 1,793 | 1,937 |
| Tax % | 22% | 24% | 22% | 23% | 23% | 24% | 19% | 20% | 18% | 24% | 23% | 21% | 22% |
| Net Profit + | 906 | 918 | 1,016 | 996 | 1,070 | 1,101 | 1,100 | 1,170 | 1,362 | 1,205 | 1,369 | 1,421 | 1,520 |
| EPS in Rs | 33.11 | 33.58 | 37.12 | 36.38 | 39.10 | 40.20 | 40.15 | 42.70 | 49.68 | 43.95 | 49.93 | 51.79 | 55.41 |
Financials of Eicher Motors Ltd
Annual income statement trend
| Dec 2014 | Mar 2016 15m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 8,738 | 6,173 | 7,033 | 8,965 | 9,797 | 9,154 | 8,720 | 10,298 | 14,442 | 16,536 | 18,870 | 23,408 |
| Expenses + | 7,621 | 4,484 | 4,859 | 6,156 | 6,893 | 6,971 | 6,937 | 8,120 | 10,996 | 12,206 | 14,148 | 17,622 |
| Operating Profit | 1,118 | 1,690 | 2,174 | 2,809 | 2,904 | 2,183 | 1,783 | 2,178 | 3,446 | 4,329 | 4,723 | 5,785 |
| OPM % | 13% | 27% | 31% | 31% | 30% | 24% | 20% | 21% | 24% | 26% | 25% | 25% |
| Other Income + | 105 | 326 | 416 | 536 | 701 | 572 | 482 | 496 | 908 | 1,521 | 1,994 | 2,229 |
| Interest | 10 | 2 | 4 | 5 | 7 | 19 | 16 | 19 | 28 | 51 | 54 | 72 |
| Depreciation | 220 | 137 | 154 | 223 | 300 | 382 | 451 | 452 | 526 | 598 | 729 | 840 |
| Profit before tax | 993 | 1,877 | 2,433 | 3,116 | 3,297 | 2,355 | 1,798 | 2,203 | 3,800 | 5,202 | 5,933 | 7,102 |
| Tax % | 29% | 29% | 30% | 30% | 33% | 22% | 25% | 24% | 23% | 23% | 20% | 22% |
| Net Profit + | 702 | 1,338 | 1,667 | 1,960 | 2,203 | 1,827 | 1,347 | 1,677 | 2,914 | 4,001 | 4,734 | 5,515 |
| EPS in Rs | 22.71 | 49.27 | 61.27 | 71.89 | 80.75 | 66.91 | 49.28 | 61.32 | 106.55 | 146.13 | 172.69 | 201.06 |
| Dividend Payout % | 22% | 20% | 16% | 15% | 15% | 19% | 34% | 34% | 35% | 35% | 41% | 41% |
Financials of Eicher Motors Ltd
Capital structure and asset base
| Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 |
| Reserves | 2,489 | 3,626 | 5,318 | 7,003 | 8,891 | 9,954 | 11,411 | 12,581 | 14,963 | 18,018 | 21,269 | 25,073 |
| Borrowings + | 58 | 23 | 112 | 151 | 187 | 249 | 219 | 108 | 288 | 419 | 458 | 514 |
| Other Liabilities + | 3,829 | 1,263 | 1,552 | 2,341 | 2,281 | 2,220 | 2,901 | 3,424 | 3,919 | 4,650 | 5,420 | 6,549 |
| Total Liabilities | 6,403 | 4,939 | 7,009 | 9,522 | 11,387 | 12,450 | 14,559 | 16,140 | 19,198 | 23,115 | 27,174 | 32,164 |
| Fixed Assets + | 2,309 | 790 | 873 | 1,502 | 1,875 | 2,378 | 2,433 | 2,424 | 2,690 | 2,914 | 3,473 | 4,385 |
| CWIP | 419 | 94 | 374 | 333 | 450 | 312 | 314 | 505 | 472 | 555 | 491 | 203 |
| Investments | 1,078 | 3,388 | 4,987 | 5,581 | 4,923 | 5,749 | 3,902 | 7,721 | 12,321 | 13,527 | 14,791 | 17,496 |
| Other Assets + | 2,597 | 667 | 775 | 2,106 | 4,140 | 4,011 | 7,909 | 5,490 | 3,715 | 6,119 | 8,419 | 10,080 |
| Total Assets | 6,403 | 4,939 | 7,009 | 9,522 | 11,387 | 12,450 | 14,559 | 16,140 | 19,198 | 23,115 | 27,174 | 32,164 |
Financials of Eicher Motors Ltd
Operating, investing and financing cash movement
| Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 1,047 | 1,463 | 1,708 | 2,482 | 1,575 | 1,694 | 1,691 | 1,527 | 2,823 | 3,724 | 3,980 | 4,805 |
| Cash from Investing Activity + | -1,214 | -1,001 | -1,744 | -2,145 | -660 | -1,508 | -1,625 | -983 | -2,397 | -2,834 | -2,461 | -2,964 |
| Cash from Financing Activity + | -162 | -466 | 25 | -262 | -292 | -858 | -15 | -593 | -417 | -844 | -1,399 | -1,983 |
| Net Cash Flow | -329 | -4 | -10 | 75 | 623 | -673 | 51 | -50 | 8 | 45 | 121 | -142 |
| Free Cash Flow | 79 | 954 | 1,161 | 1,736 | 786 | 1,150 | 1,176 | 888 | 2,149 | 2,909 | 2,951 | 3,538 |
| CFO/OP | 119% | 117% | 109% | 117% | 86% | 106% | 120% | 94% | 104% | 111% | 107% | 107% |
Financials of Eicher Motors Ltd
Working capital efficiency and return ratios
| Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 23 | 2 | 3 | 3 | 3 | 3 | 7 | 11 | 9 | 8 | 11 | 6 |
| Inventory Days | 41 | 33 | 33 | 31 | 46 | 42 | 62 | 69 | 57 | 57 | 55 | 55 |
| Days Payable | 96 | 77 | 75 | 92 | 89 | 74 | 108 | 110 | 80 | 85 | 90 | 76 |
| Cash Conversion Cycle | -31 | -42 | -40 | -58 | -40 | -28 | -39 | -29 | -14 | -19 | -24 | -16 |
| Working Capital Days | -35 | -47 | -55 | -64 | -42 | -44 | -30 | -15 | -14 | 5 | 31 | 67 |
| ROCE % | 28% | 51% | 53% | 49% | 41% | 25% | 17% | 18% | 27% | 31% | 30% | 31% |