Eicher Motors Ltd.

•

eicher.in / www.eichermotors.comBSE: 505200NSE: EICHERMOT

Market Cap₹ 2,11,382 Cr.

Current Price

High / Low₹ 8,230 / 6,442

Stock P/E36.6

Book Value₹ 956

Price to Book7.24

Dividend Yield1.06 %

ROCE30.5 %

ROE23.9 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence

74%

View full sector analysis →

PROS

Company has delivered good profit growth of 32.6% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 30.6%
Company has a good return on equity (ROE) track record: 3 Years ROE 24.1%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 21.8% CAGR over last 5 years

CONS

Stock is trading at 7.2x its book value
Operating margins have contracted to 24.5% from 27.8%
Growth is decelerating - 3Y profit CAGR (23.7%) trails the 5Y trend (32.6%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAutomobile Two & Three Wheelers

Part ofNIFTY 50 NIFTY ALPHA 50 NIFTY100 QUALTY30 NIFTYLARGEMIDCAP250 NIFTY AUTO

S.No.	Name
1.	BAJAJ-AUTO	11810.00	27.60	324543.33	1.27	3188.75	44.26	21688.83	71.50	28.68	20.88
2.	EICHERMOT	7700.00	36.62	211381.71	1.06	1462.51	21.35	6632.42	34.11	30.54	26.51
3.	TVSMOTOR	4115.00	57.03	195498.35	0.29	1057.61	64.52	16295.52	33.46	18.24	14.38
4.	HEROMOTOCO	5280.00	19.39	105674.56	3.50	1417.93	-91.69	13126.35	34.94	35.92	12.97
5.	ATHERENERG	1639.80	0.00	65035.08	0.00	-510.90	—	12169.20	—	-21.59	-2.73
6.	OLAELEC	39.16	0.00	18124.85	0.00	-336.00	21.50	455.00	-45.05	-20.87	-36.26
7.	ATULAUTO	449.20	26.39	1246.59	0.67	8.04	290.29	218.43	44.73	11.27	7.72
8.	URJA	9.00	458.40	501.49	0.00	0.43	-55.42	13.96	-26.55	1.40	3.99
9.	WARDINMOBI	5.75	183.62	172.97	0.00	0.17	-84.77	61.64	91.02	12.48	6.17

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	3,912	4,033	4,116	4,173	4,313	4,186	4,888	5,150	4,946	6,071	6,000	5,961	6,632
	2,966	3,027	3,089	3,127	3,228	3,175	3,772	3,983	3,839	4,660	4,557	4,566	5,341
Operating Profit	947	1,006	1,027	1,046	1,086	1,011	1,116	1,167	1,107	1,412	1,443	1,395	1,291
OPM %	24.20%	24.94%	24.95%	25.06%	25.17%	24.15%	22.83%	22.66%	22.37%	23.25%	24.04%	23.39%	19.47%
	243	274	254	305	282	354	289	380	446	351	282	352	466
Interest	10	13	12	15	12	13	13	16	15	19	17	20	22
Depreciation	142	143	148	165	169	180	179	201	198	200	211	232	278
Profit before Tax	1,111	1,206	1,184	1,253	1,266	1,248	1,297	1,421	1,436	1,644	1,610	1,614	1,925
Tax %	26.40%	24.14%	25.50%	25.10%	26.81%	20.97%	22.38%	21.60%	27.01%	24.91%	23.14%	25.83%	24.03%
Net Profit	0	0	0	0	1,101	1,100	1,170	1,362	1,205	1,369	1,421	1,520	1,463
	33.57	37.13	36.38	39.10	40.21	40.15	42.70	49.69	43.95	49.93	51.79	55.41	53.30

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	7,033	8,965	9,797	9,154	8,720	10,298	14,442	16,536	18,870	23,408	24,664
	4,859	6,157	6,894	6,973	6,939	8,126	10,999	12,209	14,158	17,622	19,124
Operating Profit	2,174	2,808	2,903	2,180	1,781	2,172	3,444	4,327	4,712	5,785	5,540
OPM %	30.91%	31.32%	29.63%	23.82%	20.43%	21.09%	23.84%	26.17%	24.97%	24.71%	22.46%
	227	280	443	543	453	441	595	1,076	1,305	1,431	1,451
Interest	4	5	7	19	16	19	28	51	54	72	78
Depreciation	154	223	300	382	451	452	526	598	729	840	920
Profit before Tax	2,433	3,116	3,297	2,355	1,798	2,203	3,800	5,202	5,933	7,102	6,794
Tax %	29.60%	30.04%	32.66%	22.40%	25.11%	23.88%	23.31%	23.09%	20.20%	22.34%	24.46%
Net Profit	1,713	2,180	2,220	1,827	1,347	1,677	2,914	4,001	4,734	5,515	5,132
EPS	611.44	718.33	806.86	66.92	49.24	61.26	106.38	146.13	172.66	201.07	—
Dividend Payout %	16.32%	15.30%	15.48%	18.67%	34.50%	34.24%	34.73%	34.90%	40.54%	40.78%	—

COMPOUNDED SALES GROWTH

10 Years:: 14%
5 Years:: 22%
3 Years:: 17%

COMPOUNDED PROFIT GROWTH

10 Years:: 15%
5 Years:: 33%
3 Years:: 24%

STOCK PRICE CAGR

10 Years:: 13%
5 Years:: 22%
3 Years:: 31%
1 Year:: 11%

RETURN ON EQUITY

10 Years:: 24%
5 Years:: 22%
3 Years:: 24%
Last Year:: 24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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
	5,273	6,943	8,833	9,884	11,331	12,540	14,905	17,941	21,163	24,914
	145	207	260	321	405	409	712	960	1,006	1,239
Trade Payables	765	1,172	1,234	1,008	1,513	1,788	1,810	2,090	2,530	2,738
	799	1,174	1,033	1,210	1,282	1,375	1,743	2,097	2,448	3,244
Total Liabilities	7,009	9,522	11,387	12,450	14,559	16,140	19,198	23,115	27,174	32,164
	869	1,498	1,871	2,374	2,433	2,424	2,690	2,914	3,473	3,852
Capital Work in Progress	264	142	272	27	64	134	78	212	110	203
	4,987	5,581	4,923	5,749	3,902	7,721	12,321	13,527	14,791	17,496
	336	395	633	572	875	1,132	1,278	1,410	1,564	1,968
	0	0	0	0	0	0	0	374	550	354
Cash & Bank	25	1,212	2,965	2,951	5,830	2,722	766	146	263	256
	528	695	722	777	1,454	2,006	2,065	4,532	6,423	8,035
Total Assets	7,009	9,522	11,387	12,450	14,559	16,140	19,198	23,115	27,174	32,164

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,360	3,289	2,484	2,322	2,148	2,041	3,593	3,724	3,980	4,805
Cash from Investing	-1,744	-2,145	-660	-1,508	-1,625	-983	-2,416	-2,852	-2,483	-2,964
Cash from Financing	25	-262	-292	-858	-15	-593	-417	-844	-1,399	-1,983
	-10	75	623	-673	51	-50	-11	27	98	-142

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	49.11	49.10	49.09	49.08	49.07	49.06	49.06	49.06	49.02
	28.81	27.61	25.42	25.02	25.82	26.98	27.01	26.77	25.53
	11.85	13.67	16.11	16.55	15.67	14.62	14.64	14.73	15.97
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	10.13	9.52	9.29	9.25	9.35	9.24	9.19	9.34	9.39

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-07 - Eicher Motors Limited has informed the Exchange about Schedule of meet

2026-09-04

Press Release

2026-09-04 - Eicher Motors Limited has informed the Exchange regarding a press release dated September 04, 2026, titled "RETURN OF THE MOUNTAIN G.O.A.T. - THE OG HIMALAYAN IS BACK BY COMMUNITY DEMAND WITH THE LAUNCH OF HIMALAYAN 440".

2026-09-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-04 - Eicher Motors Limited has informed the Exchange about Schedule of meet

2026-09-01

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-01 - Eicher Motors Limited has informed the Exchange about Schedule of meet

2026-09-01

Monthly Business Updates

2026-09-01 - Eicher Motors Limited has informed the Exchange regarding Monthly Business Updates for the month of August 2026 of VE Commercial Vehicles Limited, an unlisted material subsidiary of Eicher Motors Limited

2026-09-01

Monthly Business Updates

2026-09-01 - Eicher Motors Limited has informed the Exchange regarding Monthly Business Updates for the month of August 2026

2026-08-25

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-25 - Eicher Motors Limited has informed the Exchange about Schedule of meet

2026-08-20

General Updates

2026-08-20 - Eicher Motors Limited has informed the Exchange about Appointment/Re-appointment of Director at 44th AGM

2026-08-20

Shareholders meeting

2026-08-20 - Eicher Motors Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 20, 2026. Further, the company has informed the Exchange regarding voting results.

News

Recent coverage and analyst commentary for EICHERMOT

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Eicher Motors Ltd.

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Name

BAJAJ-AUTO

11810.00

27.60

324543.33

1.27

3188.75

44.26

21688.83

71.50

28.68

20.88

EICHERMOT

7700.00

36.62

211381.71

1.06

1462.51

21.35

6632.42

34.11

30.54

26.51

TVSMOTOR

4115.00

57.03

195498.35

0.29

1057.61

64.52

16295.52

33.46

18.24

14.38

HEROMOTOCO

5280.00

19.39

105674.56

3.50

1417.93

-91.69

13126.35

34.94

35.92

12.97

ATHERENERG

1639.80

0.00

65035.08

0.00

-510.90

—

12169.20

—

-21.59

-2.73

OLAELEC

39.16

0.00

18124.85

0.00

-336.00

21.50

455.00

-45.05

-20.87

-36.26

ATULAUTO

449.20

26.39

1246.59

0.67

8.04

290.29

218.43

44.73

11.27

7.72

URJA

9.00

458.40

501.49

0.00

0.43

-55.42

13.96

-26.55

1.40

3.99

WARDINMOBI

5.75

183.62

172.97

0.00

0.17

-84.77

61.64

91.02

12.48

6.17

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

3,912

4,033

4,116

4,173

4,313

4,186

4,888

5,150

4,946

6,071

6,000

5,961

6,632

2,966

3,027

3,089

3,127

3,228

3,175

3,772

3,983

3,839

4,660

4,557

4,566

5,341

Operating Profit

947

1,006

1,027

1,046

1,086

1,011

1,116

1,167

1,107

1,412

1,443

1,395

1,291

OPM %

24.20%

24.94%

24.95%

25.06%

25.17%

24.15%

22.83%

22.66%

22.37%

23.25%

24.04%

23.39%

19.47%

243

274

254

305

282

354

289

380

446

351

282

352

466

Interest

Depreciation

142

143

148

165

169

180

179

201

198

200

211

232

278

Profit before Tax

1,111

1,206

1,184

1,253

1,266

1,248

1,297

1,421

1,436

1,644

1,610

1,614

1,925

Tax %

26.40%

24.14%

25.50%

25.10%

26.81%

20.97%

22.38%

21.60%

27.01%

24.91%

23.14%

25.83%

24.03%

Net Profit

1,101

1,100

1,170

1,362

1,205

1,369

1,421

1,520

1,463

33.57

37.13

36.38

39.10

40.21

40.15

42.70

49.69

43.95

49.93

51.79

55.41

53.30

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

7,033

8,965

9,797

9,154

8,720

10,298

14,442

16,536

18,870

23,408

24,664

4,859

6,157

6,894

6,973

6,939

8,126

10,999

12,209

14,158

17,622

19,124

Operating Profit

2,174

2,808

2,903

2,180

1,781

2,172

3,444

4,327

4,712

5,785

5,540

OPM %

30.91%

31.32%

29.63%

23.82%

20.43%

21.09%

23.84%

26.17%

24.97%

24.71%

22.46%

227

280

443

543

453

441

595

1,076

1,305

1,431

1,451

Interest

Depreciation

154

223

300

382

451

452

526

598

729

840

920

Profit before Tax

2,433

3,116

3,297

2,355

1,798

2,203

3,800

5,202

5,933

7,102

6,794

Tax %

29.60%

30.04%

32.66%

22.40%

25.11%

23.88%

23.31%

23.09%

20.20%

22.34%

24.46%

Net Profit

1,713

2,180

2,220

1,827

1,347

1,677

2,914

4,001

4,734

5,515

5,132

EPS

611.44

718.33

806.86

66.92

49.24

61.26

106.38

146.13

172.66

201.07

—

Dividend Payout %

16.32%

15.30%

15.48%

18.67%

34.50%

34.24%

34.73%

34.90%

40.54%

40.78%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

5,273

6,943

8,833

9,884

11,331

12,540

14,905

17,941

21,163

24,914

145

207

260

321

405

409

712

960

1,006

1,239

Trade Payables

765

1,172

1,234

1,008

1,513

1,788

1,810

2,090

2,530

2,738

799

1,174

1,033

1,210

1,282

1,375

1,743

2,097

2,448

3,244

Total Liabilities

7,009

9,522

11,387

12,450

14,559

16,140

19,198

23,115

27,174

32,164

869

1,498

1,871

2,374

2,433

2,424

2,690

2,914

3,473

3,852

Capital Work in Progress

264

142

272

134

212

110

203

4,987

5,581

4,923

5,749

3,902

7,721

12,321

13,527

14,791

17,496

336

395

633

572

875

1,132

1,278

1,410

1,564

1,968

374

550

354

Cash & Bank

1,212

2,965

2,951

5,830

2,722

766

146

263

256

528

695

722

777

1,454

2,006

2,065

4,532

6,423

8,035

Total Assets

7,009

9,522

11,387

12,450

14,559

16,140

19,198

23,115

27,174

32,164

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

2,360

3,289

2,484

2,322

2,148

2,041

3,593

3,724

3,980

4,805

Cash from Investing

-1,744

-2,145

-660

-1,508

-1,625

-983

-2,416

-2,852

-2,483

-2,964

Cash from Financing

-262

-292

-858

-15

-593

-417

-844

-1,399

-1,983

-10

623

-673

-50

-11

-142

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

49.11

49.10

49.09

49.08

49.07

49.06

49.02

28.81

27.61

25.42

25.02

25.82

26.98

27.01

26.77

25.53

11.85

13.67

16.11

16.55

15.67

14.62

14.64

14.73

15.97

Government

0.00

10.13

9.52

9.29

9.25

9.35

9.24

9.19

9.34

9.39

Eicher Motors Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Eicher Motors Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI