DSIJ Mindshare

Eicher Motors Bullets A Profit Of Rs 139 Crore Up By 42%

The result shows that the company has posted a good set of numbers during this quarter. The topline of the company has increased by 11.5%, whereas the bottomline of the company has surged by 42% during Q1CY14 as compared to corresponding quarter of previous year.

On consolidated basis the company has posted a topline of Rs 1924.22 crore during Q1CY14 as against Rs 1724.33 crore during Q1CY13. The EBITDA of the company rose by 30% on yearly basis stood at Rs 221.96 crore during the quarter ended March 2014. The company has posted a net profit of Rs 139 crore during Q1CY14 as compared to Rs 97.94 crore during Q1CY13.

On the margin front the EBITDA margin of the company rose by 165 basis points during the quarter ended March 2014. The margin during this quarter improved due to reduction in cost of raw material. The cost of raw material as compared to sales has reduced by 585 basis points to 60.8% on YoY basis during Q1CY14.

In volume wise the total sales (trucks and buses) of the company during Q1CY14 has plunged by 20.78% on a yearly basis to 9814 units. The domestic sales in this segment has declined by 27% on YoY basis by selling 8692 units, whereas the export has surged by 148% to 1122 units during the quarter ended March 2014 as compared to the same quarter of previous year. The sales figure of the motorcycle segment has not been posted by the company.

On valuation front, the stock at CMP of Rs 6471.15 per share is trading at 40.2x of its trailing 12 months of its earning. Today the scrip on BSE opened at Rs 6525 and lost around 0.82% in intraday trading.

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