Arthneeti

Eicher Motors Q1 FY27 Share Price & Earnings Call Analysis

₹7,220.00-0.25% today
Market cap
₹1.98L Cr
P/E
34.08
ROE
23.96%
PEG
1.43
Price to sales
7.93
Debt to equity
0.02
52W high / low
₹8,190 / ₹6,586
Sales growth (5Y)
21.83%
EBITDA margin
24.69%
Net profit margin
23.75%
Promoter holding
49.02%
Sales (last year)
₹24,998 Cr

Eicher Motors Limited, incorporated in 1982, is the listed company of the Eicher Group in India and a leading player in the Indian automobile industry and the global leader in middleweight motorcycles. Eicher has a joint venture with Sweden’s AB Volvo to create Volvo Eicher Commercial Vehicles Limited (VECV). VECV is engaged in truck and bus operations, auto components business, and technical consulting services business [1]

Guidance scorecard · Q1 FY27 call

What Eicher Motors's management guided
and where it ranks in Automobiles

#4of 11 in
Automobiles
Revenue20–40%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookRising

RevenueQ1 FY27 call

20–40%
  • Q1 FY27 showed strong growth, with Royal Enfield volumes up ~32% YoY.
  • Healthy demand indicators: increased inquiries, walk-ins, telephonic inquiries, and bookings.
  • Market share in international markets (outside India) stands at 8-9%, with plans to grow via subsidiaries and CKD plants.
  • Strong pipeline of product launches across 350cc, 450cc, and 650cc segments, including refreshed variants and marketing initiatives.
  • Focus on premiumization and expanding first-time buyers and upgraders segments.
  • Accessories and apparel businesses continue growing with higher penetration.
  • International growth expected in markets like Brazil, Indonesia (potential CKD plant), Latin America, Nepal, Bangladesh.

2 more points from Eicher Motors's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Eicher Motors said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Eicher Motors announced a strategic expansion of manufacturing capacity with a new greenfield facility in Tada, Andhra Pradesh.
  • The Board approved an investment of INR 1,225 crores for Phase 1 of this greenfield expansion.
  • The new facility aims to add an additional production capacity of 4.5 lakh motorcycles per year at full utilization.
  • The capacity addition is expected to be completed during the financial year 2030 and will be executed in modules.

2 more points from Eicher Motors's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Eicher Motors said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • Current dealer inventory is about 10-12 days.
  • In-transit inventory is approximately an additional 4-5 days; normally, maximum in-transit inventory is about 7 days.
  • Efforts are underway to increase direct billing to dealers to cut inefficiencies in secondary transit and depot inventories, aiming to save 4-5 days.
  • Inventory is currently lean due to strong Q1 retail performance.
  • Funnel indicators such as bookings, walk-ins, and inquiries are showing healthy growth, indicating strong order inflows.

2 more points from Eicher Motors's call on the order book

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Full Q1 FY27 analysis
Full Automobiles ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Automobiles
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. M & MGood growth
    3
See all potential multibaggersWhere does Eicher Motors rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Automobiles companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹58,318 Cr—
240%+Flat₹2,339 Cr83.8
3M & M20–40%Flat₹3.63L Cr18.9
4Eicher MotorsThis stock20–40%Flat₹2.00L Cr34.4
520–40%Flat₹1.95L Cr56.2
620–40%Flat₹17,491 Cr—

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Pro shows every company guiding 40%+ revenue growth →Full Automobiles ranking

Financials of Eicher Motors

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Eicher Motors

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +3,8043,9864,1154,1794,2564,3934,2634,9735,2415,0426,1726,1146,080
Expenses +2,8712,9663,0273,0893,1273,2283,1753,7723,9833,8394,6604,5574,566
Operating Profit9341,0211,0871,0901,1291,1651,0881,2011,2581,2031,5121,5571,514
OPM %25%26%26%26%27%27%26%24%24%24%24%25%25%
Other Income +379344375368437457468452628603486465675
Interest8101312151213131615191720
Depreciation148142143148165169180179201198200211232
Profit before tax1,1561,2121,3071,2981,3851,4411,3621,4611,6691,5931,7791,7931,937
Tax %22%24%22%23%23%24%19%20%18%24%23%21%22%
Net Profit +9069181,0169961,0701,1011,1001,1701,3621,2051,3691,4211,520
EPS in Rs33.1133.5837.1236.3839.1040.2040.1542.7049.6843.9549.9351.7955.41

Financials of Eicher Motors

Profit & Loss

Annual income statement trend

Dec 2014Mar 2016 15mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +8,7386,1737,0338,9659,7979,1548,72010,29814,44216,53618,87023,408
Expenses +7,6214,4844,8596,1566,8936,9716,9378,12010,99612,20614,14817,622
Operating Profit1,1181,6902,1742,8092,9042,1831,7832,1783,4464,3294,7235,785
OPM %13%27%31%31%30%24%20%21%24%26%25%25%
Other Income +1053264165367015724824969081,5211,9942,229
Interest10245719161928515472
Depreciation220137154223300382451452526598729840
Profit before tax9931,8772,4333,1163,2972,3551,7982,2033,8005,2025,9337,102
Tax %29%29%30%30%33%22%25%24%23%23%20%22%
Net Profit +7021,3381,6671,9602,2031,8271,3471,6772,9144,0014,7345,515
EPS in Rs22.7149.2761.2771.8980.7566.9149.2861.32106.55146.13172.69201.06
Dividend Payout %22%20%16%15%15%19%34%34%35%35%41%41%

Financials of Eicher Motors

Balance Sheet

Capital structure and asset base

Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital272727272727272727272727
Reserves2,4893,6265,3187,0038,8919,95411,41112,58114,96318,01821,26925,073
Borrowings +5823112151187249219108288419458514
Other Liabilities +3,8291,2631,5522,3412,2812,2202,9013,4243,9194,6505,4206,549
Total Liabilities6,4034,9397,0099,52211,38712,45014,55916,14019,19823,11527,17432,164
Fixed Assets +2,3097908731,5021,8752,3782,4332,4242,6902,9143,4734,385
CWIP41994374333450312314505472555491203
Investments1,0783,3884,9875,5814,9235,7493,9027,72112,32113,52714,79117,496
Other Assets +2,5976677752,1064,1404,0117,9095,4903,7156,1198,41910,080
Total Assets6,4034,9397,0099,52211,38712,45014,55916,14019,19823,11527,17432,164

Financials of Eicher Motors

Cash Flows

Operating, investing and financing cash movement

Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +1,0471,4631,7082,4821,5751,6941,6911,5272,8233,7243,9804,805
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 +-162-46625-262-292-858-15-593-417-844-1,399-1,983
Net Cash Flow-329-4-1075623-67351-50845121-142
Free Cash Flow799541,1611,7367861,1501,1768882,1492,9092,9513,538
CFO/OP119%117%109%117%86%106%120%94%104%111%107%107%

Financials of Eicher Motors

Ratios

Working capital efficiency and return ratios

Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days232333371198116
Inventory Days413333314642626957575555
Days Payable96777592897410811080859076
Cash Conversion Cycle-31-42-40-58-40-28-39-29-14-19-24-16
Working Capital Days-35-47-55-64-42-44-30-15-1453167
ROCE %28%51%53%49%41%25%17%18%27%31%30%31%

Guidance history

How Eicher Motors's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlanned—Rising
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

59out of 100

Momentum score · price trend

59 out of 100 — Steady

Over the past year its share price has moved roughly in the middle of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+4.8%66%
Last 6 months+1.6%58%
Last 3 months−7.8%51%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Eicher Motors: 0.4 × 66 + 0.4 × 58 + 0.2 × 51 = 59.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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What Eicher Motors's management said in earlier quarters

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