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    Eicher Motors Limited

    Makes Royal Enfield mid-size motorcycles; co-owns Volvo JV VE Commercial Vehicles (trucks & buses).

    Automobile and Auto Components
    Consumer Discretionary
    View EICHERMOT earnings calls
    ₹7,563.5
    +3.87% from avg

    Overview

    Price

    ₹7,563.5

    Market Cap

    ₹2.1L Cr

    Sector

    Automobile and Auto Components

    Consumer Discretionary

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital2727272727272727
    Reserves10.0k11.4k12.6k15.0k18.0k21.3k22.1k25.1k
    Borrowings249219108288419458446514
    Other Liabilities2.2k2.9k3.4k3.9k4.7k5.4k6.4k6.5k
    Total Liabilities12.4k14.6k16.1k19.2k23.1k27.2k28.9k32.2k
    AssetsFixed Assets2.4k2.4k2.4k2.7k2.9k3.5k4.0k4.4k
    CWIP312314505472555491129203
    Investments5.7k3.9k7.7k12.3k13.5k14.8k16.5k17.5k
    Other Assets4.0k7.9k5.5k3.7k6.1k8.4k8.3k10.1k
    Total Assets12.4k14.6k16.1k19.2k23.1k27.2k28.9k32.2k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating1.6k1.7k1.7k1.5k2.8k3.7k4.0k4.8k
    Cash from Investing-660-1.5k-1.6k-983-2.4k-2.8k-2.5k-3.0k
    Cash from Financing-292-858-15-593-417-844-1.4k-2.0k
    SummaryCapital Expenditure
    Free Cash Flow7861.1k1.2k8882.1k2.9k3.0k3.5k
    FCF Margin

    Valuation

    Assumptions

    Current — EICHERMOT
    Price
    ₹7,564
    EPS (TTM)
    ₹201.08
    PE (TTM)
    37.6
    Profit growth
    23.7%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (30.6×) and current (37.6×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹7,564
    vs
    Fair value · 15% return
    ₹8,263
    9%Undervalued

    At 23.7% growth and a 31× exit, ₹7564 only delivers your return if you pay ₹8,263. The price is currently baking in 22% growth.

    EPS grows 23.7%/yr for 5 years, then fades to 6% over 2, exits at 31×.

    YearGrowthEPS (₹)
    FY2723.7%248.74
    FY2823.7%307.69
    FY2923.7%380.61
    FY3023.7%470.81
    FY3123.7%582.39
    FY3214.8% ·fade668.88
    FY336.0% ·fade709.01

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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