Eicher Motors share worth NSE, Eicher Motors This autumn outcomes: Shares of Royal Enfield-maker Eicher Motors opened 2.5 p.c larger on Friday, a day after the auto main introduced strong March quarter outcomes and most brokerages elevating goal worth on the inventory. Eicher Motors shares opened at Rs 3,494 apiece on BSE. Eicher Motors consolidated internet revenue or revenue after tax (PAT) got here in at Rs 906 crore in Q4FY23, rising 49 per cent year-on-year (YoY), from Rs 610 crore the corporate had posted a yr in the past in the identical quarter. Zee Enterprise analysis had estimated Eicher Motors PAT to come back in at Rs 800 crore. Eicher Motors income rose 19.1 per cent YoY to Rs 3,804 crore, beating Zee Enterprise estimate of Rs 3,700 crore.
The Royal Enfield maker had posted Rs 3,193 crore income within the March quarter a yr in the past. Eicher Motor’s margin in Q4FY23 improved to 24.5 per cent YoY, beating estimate of 24.3 per cent. Its margin in Q4FY22 was at 23.7 per cent. Eicher Motors additionally declared a ultimate dividend of Rs 37 per share together with its outcomes.
The board of Eicher Motors additionally accepted a Rs 1,000 crore capex plan for FY24 that additionally contains the funding in the direction of an electrical car (EV) manufacturing facility. Eicher Motor’s flagship motorbike model Royal Enfield gross sales quantity got here in at 214, 685 models, down a p.c sequentially however rising 18 per cent YoY.
Eicher Motors share worth goal: Must you purchase, promote or maintain?
Most brokerages have raised goal on Eicher Motors inventory worth and sustaining ‘purchase’ ranking on Royal Enfield-maker’s share worth. Morgan Stanley has set a goal worth of Rs 3,553, whereas Goldman Sachs has raised it to Rs 3,990 from a earlier goal of Rs 3,660. Citi has raised the goal to Rs 4,800 suggesting an upside potential of 41 per cent. CLSA has raised its goal to Rs 4,266 from the earlier Rs 4,034, elevating it by 6 p.c and 18 p.c from right this moment’s worth ranges.
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