Eicher Motors provides 3% put up Q1; price your wager?, Auto Information, DFL
The corporate registered 25.36 per cent development in web revenue for the primary quarter to June, from Rs 460 crore in Q1 of 2017-18.
Consolidated complete income from operations stood at Rs 2,548 crore for the quarter beneath evaluation, the corporate’s highest ever to this point in 1 / 4. It stood at Rs 2,255 crore within the year-ago interval.
The scrip added 3.02 per cent at Rs 28,315 at round 10.22 am. The BSE Sensex got here down by 95 factors, or 0.25 per cent, at 37,930 at across the similar time.World brokerage agency Macquarie maintained ‘Outperform’ score on Eicher Motors with a worth goal of Rs 37,000.
“June quarter’s operating income was ahead of estimates. Despite rise in volume, market share is still low in large states. We expect Eicher’s growth momentum to continue and expect compounded annual growth rate of 22 per cent in net profit over FY18-21. Royal Enfield sales volumes and margin improvement would aid growth,” Macquarie stated.
CLSA retained ‘Buy’ score for Eicher Motors, however lower the value goal to Rs 36,150 from Rs 39,300 earlier. “June quarter’s operating income was in line with estimates. Royal Enfield margins expand despite commodity price pressures. Royal Enfield waiting list comfort has faded, but structural story is intact. We cut FY19-20 EPS by 4 per cent factoring in slightly lower margins and financial income,” CLSA acknowledged.