Eicher Motors Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- ✓Excellent return on equity (ROE 24%)
- ✓Efficient capital deployment (ROCE 30.5%)
- ✓Virtually debt-free
Concerns
- ✗High premium to book value (P/B 8.3x)
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| MARUTI Maruti Suzuki India Limited | ₹13,545 | ₹4.3L Cr | 29.6 | 3.97 | 14.4 | 19 | 0 |
| M&M Mahindra & Mahindra Limited | ₹3,173 | ₹4.0L Cr | 22.9 | 4.24 | 20.3 | 15.1 | 1.53 |
| BAJAJ-AUTO Bajaj Auto Limited | ₹11,019 | ₹2.9L Cr | 26.6 | 7.93 | 29.2 | 28.2 | 0.58 |
| TVSMOTOR TVS Motor Company Limited | ₹3,917 | ₹1.7L Cr | 56.6 | 19.49 | 33.6 | 17.4 | 3.89 |
| HYUNDAI Hyundai Motor India Limited | ₹1,949 | ₹1.6L Cr | 29.8 | 7.92 | 29.9 | 38.4 | 0.05 |
| MOTHERSON Samvardhana Motherson International Limited | ₹144 | ₹1.5L Cr | 35.7 | 3.7 | 11.2 | 13.4 | 0.53 |
| TMPV Tata Motors Passenger Vehicles Limited | ₹328 | ₹1.2L Cr | 1.43 | 1.08 | 75.7 | 2.73 | 0.61 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
EICHERMOT · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 49.15% | 49.14% | 49.11% | 49.10% | 49.09% | 49.08% |
| FII | 30.27% | 28.95% | 28.81% | 27.61% | 25.42% | 25.02% |
| DII | 9.73% | 11.04% | 11.84% | 13.67% | 16.11% | 16.55% |
| Public | 10.76% | 10.77% | 10.14% | 9.52% | 9.30% | 9.26% |
| Govt | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
Corporate Events
EICHER MOTORS LIMITED has informed the Exchange about Board Meeting to be held on 22-May-2026 to consider and approve the Yearly Audited Financial results & Financial Statement of the Company for the period ended March 31, 2026 and final dividend
Dividend - Rs 70 Per Share
Dividend - Rs 51 Per Share
Annual General Meeting/Dividend - Rs 37 Per Share
Latest News
All news →Eicher Motors to hold 44th AGM
*Eicher Motors to hold 44th AGM.* The company has published notice for its annual general meeting as per regulatory norms. **No business updates or financial figures** were disclosed in the filing. The event is routine and primarily for shareholder engagement. 📊 *STOCKS:* EICHERMOT | 🏢 *SECTOR:* Auto | #LOWIMPACT #AGM
Eicher Motors shares to trade ex-split on July 10
*Eicher Motors shares to trade ex-split on July 10.* The company has published the newspaper notice for its **1:1 stock split** effective July 10, 2024. Shareholders as of July 5 will receive **one bonus share per share held**. Trading will begin at the post-split price from July 10. 📊 *STOCKS:* EICHERMOTORS | 🏢 *SECTOR:* Auto | #LOWIMPACT #stock-split
Volvo Group ties up with Eicher Motors in joint venture
*Volvo Group ties up with Eicher Motors in joint venture.* The collaboration aims to strengthen Volvo’s presence in the Indian commercial vehicle market. The move is expected to leverage Eicher’s manufacturing expertise and distribution network. Financial terms of the deal were not disclosed. 📊 *STOCKS:* EICHERMOT | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #JointVenture
Volvo, Eicher Motors form joint venture
*Volvo Group and Eicher Motors announce joint venture.* The partnership aims to strengthen commercial vehicle operations in India. Strategic move expected to enhance product offerings and market reach. 📊 *STOCKS:* EICHERMOT | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #JointVenture
Eicher Motors, Volvo Group form JV for financial services
*Eicher Motors, Volvo Group form JV for financial services* — Eicher Motors has partnered with Volvo Group to launch a joint venture for financial services. The move aims to enhance financing solutions for commercial vehicle customers. Terms and investment size were not disclosed. 📊 *STOCKS:* EICHERMOT | 🏢 *SECTOR:* Corporate | #MEDIUMIMPACT #JV
Eicher, Volvo to launch financial services JV in India
*Eicher Motors and Volvo Group plan a financial services JV in India.* The move aims to enhance customer financing options for commercial vehicles. **No financial details** of the JV were disclosed. It marks a strategic expansion in the CV financing space. 📊 *STOCKS:* EICHERMOT | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #JointVenture
Eicher, Volvo form 50:50 JV for vehicle financing in India
*Eicher Motors, Volvo Group announce new 50:50 JV for vehicle financing business in India*\nEicher Motors and Volvo Group have formed a 50:50 joint venture to launch a vehicle financing business in India. The move aims to boost commercial vehicle sales through better credit access. The venture will focus on retail and wholesale financing solutions.\n\n📊 *STOCKS:* EICHERMOT | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #JV
Eicher Motors plans ₹2,200 crore capex for Royal Enfield growth
*Eicher Motors plans ₹2,200 crore capex for Royal Enfield to scale production as FY26 sales target hits **12 lakh units**.* The investment aims to strengthen manufacturing capacity and meet rising demand. However, the company flagged supply-chain disruptions in West Asia as a risk. 📊 *STOCKS:* EICHERMOT | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #capex
Volvo, Eicher Motors tie up for India finance JV
*Volvo forms joint venture with Eicher Motors for finance business in India.* The move aims to strengthen customer financing options in the commercial vehicle sector. **No financial details** of the JV were disclosed. Both companies expect synergies in distribution and credit services. 📊 *STOCKS:* EICHERMOT | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #JointVenture
Eicher Motors, Volvo Group launch vehicle financing JV in India
*Eicher Motors, Volvo Group launch vehicle financing JV in India* — A new joint venture between Eicher Motors and Volvo Group aims to offer vehicle financing solutions in India, boosting commercial vehicle sales. The move targets improved customer affordability and market penetration. Specific investment size or financial terms were not disclosed. 📊 *STOCKS:* EICHERMOT | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #JointVenture
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹6.1K Cr ▼0.9% | ₹6.2K Cr ▲22.4% | ₹5.0K Cr ▼3.8% | ₹5.2K Cr ▲5.4% | ₹5.0K Cr ▲16.7% | ₹4.3K Cr ▼3.0% | ₹4.4K Cr ▲3.2% | ₹4.3K Cr |
| Op. Profit | ₹1.6K Cr ▲3.0% | ₹1.5K Cr ▲25.7% | ₹1.2K Cr ▼4.4% | ₹1.3K Cr ▲4.7% | ₹1.2K Cr ▲10.4% | ₹1.1K Cr ▼6.6% | ₹1.2K Cr ▲3.2% | ₹1.1K Cr |
| OPM | 25.0% ▲4.2% | 24.0% ▲0.0% | 24.0% ▲0.0% | 24.0% ▲0.0% | 24.0% ▼7.7% | 26.0% ▼3.7% | 27.0% ▲0.0% | 27.0% |
| Net Profit | ₹1.4K Cr ▲3.8% | ₹1.4K Cr ▲13.6% | ₹1.2K Cr ▼11.5% | ₹1.4K Cr ▲16.4% | ₹1.2K Cr ▲6.4% | ₹1.1K Cr ▼0.1% | ₹1.1K Cr ▲2.9% | ₹1.1K Cr |
| EPS (₹) | 51.79 ▲3.7% | 49.93 ▲13.6% | 43.95 ▼11.5% | 49.68 ▲16.3% | 42.7 ▲6.4% | 40.15 ▼0.1% | 40.2 ▲2.8% | 39.1 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹23.4K Cr ▲24.0% | ₹18.9K Cr ▲14.1% | ₹16.5K Cr ▲14.5% | ₹14.4K Cr ▲40.2% | ₹10.3K Cr ▲18.1% | ₹8.7K Cr ▼4.7% | ₹9.2K Cr ▼6.6% | ₹9.8K Cr ▲9.3% | ₹9.0K Cr ▲27.5% | ₹7.0K Cr |
| Expenses | ₹17.6K Cr ▲24.6% | ₹14.1K Cr ▲15.9% | ₹12.2K Cr ▲11.0% | ₹11.0K Cr ▲35.4% | ₹8.1K Cr ▲17.1% | ₹6.9K Cr ▼0.5% | ₹7.0K Cr ▲1.1% | ₹6.9K Cr ▲12.0% | ₹6.2K Cr ▲26.7% | ₹4.9K Cr |
| Op. Profit | ₹5.8K Cr ▲22.5% | ₹4.7K Cr ▲9.1% | ₹4.3K Cr ▲25.6% | ₹3.4K Cr ▲58.2% | ₹2.2K Cr ▲22.2% | ₹1.8K Cr ▼18.3% | ₹2.2K Cr ▼24.8% | ₹2.9K Cr ▲3.4% | ₹2.8K Cr ▲29.2% | ₹2.2K Cr |
| OPM | 25.0% ▲0.0% | 25.0% ▼3.8% | 26.0% ▲8.3% | 24.0% ▲14.3% | 21.0% ▲5.0% | 20.0% ▼16.7% | 24.0% ▼20.0% | 30.0% ▼3.2% | 31.0% ▲0.0% | 31.0% |
| Other Income | ₹2.2K Cr ▲11.8% | ₹2.0K Cr ▲31.1% | ₹1.5K Cr ▲67.5% | ₹908 Cr ▲83.1% | ₹496 Cr ▲2.9% | ₹482 Cr ▼15.7% | ₹572 Cr ▼18.4% | ₹701 Cr ▲30.8% | ₹536 Cr ▲28.8% | ₹416 Cr |
| Interest | ₹72 Cr ▲33.3% | ₹54 Cr ▲5.9% | ₹51 Cr ▲82.1% | ₹28 Cr ▲47.4% | ₹19 Cr ▲18.8% | ₹16 Cr ▼15.8% | ₹19 Cr ▲171.4% | ₹7 Cr ▲40.0% | ₹5 Cr ▲25.0% | ₹4 Cr |
| Depreciation | ₹840 Cr ▲15.2% | ₹729 Cr ▲21.9% | ₹598 Cr ▲13.7% | ₹526 Cr ▲16.4% | ₹452 Cr ▲0.2% | ₹451 Cr ▲18.1% | ₹382 Cr ▲27.3% | ₹300 Cr ▲34.5% | ₹223 Cr ▲44.8% | ₹154 Cr |
| PBT | ₹7.1K Cr ▲19.7% | ₹5.9K Cr ▲14.1% | ₹5.2K Cr ▲36.9% | ₹3.8K Cr ▲72.5% | ₹2.2K Cr ▲22.5% | ₹1.8K Cr ▼23.7% | ₹2.4K Cr ▼28.6% | ₹3.3K Cr ▲5.8% | ₹3.1K Cr ▲28.1% | ₹2.4K Cr |
| Tax % | 22.0% ▲10.0% | 20.0% ▼13.0% | 23.0% ▲0.0% | 23.0% ▼4.2% | 24.0% ▼4.0% | 25.0% ▲13.6% | 22.0% ▼33.3% | 33.0% ▲10.0% | 30.0% ▲0.0% | 30.0% |
| Net Profit | ₹5.5K Cr ▲16.5% | ₹4.7K Cr ▲18.3% | ₹4.0K Cr ▲37.3% | ₹2.9K Cr ▲73.8% | ₹1.7K Cr ▲24.5% | ₹1.3K Cr ▼26.3% | ₹1.8K Cr ▼17.1% | ₹2.2K Cr ▲12.4% | ₹2.0K Cr ▲17.6% | ₹1.7K Cr |
| EPS (₹) | 201.06 ▲16.4% | 172.69 ▲18.2% | 146.13 ▲37.1% | 106.55 ▲73.8% | 61.32 ▲24.4% | 49.28 ▼26.3% | 66.91 ▼17.1% | 80.75 ▲12.3% | 71.89 ▲17.3% | 61.27 |
| Div Payout | 41.0% ▲0.0% | 41.0% ▲17.1% | 35.0% ▲0.0% | 35.0% ▲2.9% | 34.0% ▲0.0% | 34.0% ▲78.9% | 19.0% ▲26.7% | 15.0% ▲0.0% | 15.0% ▼6.3% | 16.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities | ||||||||||
| Equity Capital | ₹27 Cr ▲0.0% | ₹27 Cr ▲0.0% | ₹27 Cr ▲0.0% | ₹27 Cr ▲0.0% | ₹27 Cr ▲0.0% | ₹27 Cr ▲0.0% | ₹27 Cr ▲0.0% | ₹27 Cr ▲0.0% | ₹27 Cr ▲0.0% | ₹27 Cr |
| Reserves | ₹22.1K Cr ▲3.7% | ₹21.3K Cr ▲18.0% | ₹18.0K Cr ▲20.4% | ₹15.0K Cr ▲18.9% | ₹12.6K Cr ▲10.3% | ₹11.4K Cr ▲14.6% | ₹10.0K Cr ▲12.0% | ₹8.9K Cr ▲27.0% | ₹7.0K Cr ▲31.7% | ₹5.3K Cr |
| Borrowings | ₹446 Cr ▼2.6% | ₹458 Cr ▲9.3% | ₹419 Cr ▲45.5% | ₹288 Cr ▲166.7% | ₹108 Cr ▼50.7% | ₹219 Cr ▼12.0% | ₹249 Cr ▲33.2% | ₹187 Cr ▲23.8% | ₹151 Cr ▲34.8% | ₹112 Cr |
| Other Liabilities | ₹6.4K Cr ▲18.3% | ₹5.4K Cr ▲16.6% | ₹4.7K Cr ▲18.7% | ₹3.9K Cr ▲14.5% | ₹3.4K Cr ▲18.0% | ₹2.9K Cr ▲30.7% | ₹2.2K Cr ▼2.7% | ₹2.3K Cr ▼2.6% | ₹2.3K Cr ▲50.8% | ₹1.6K Cr |
| Total Liabilities | ₹28.9K Cr ▲6.5% | ₹27.2K Cr ▲17.6% | ₹23.1K Cr ▲20.4% | ₹19.2K Cr ▲18.9% | ₹16.1K Cr ▲10.9% | ₹14.6K Cr ▲16.9% | ₹12.4K Cr ▲9.3% | ₹11.4K Cr ▲19.6% | ₹9.5K Cr ▲35.9% | ₹7.0K Cr |
| Assets | ||||||||||
| Fixed Assets | ₹4.0K Cr ▲16.2% | ₹3.5K Cr ▲19.2% | ₹2.9K Cr ▲8.3% | ₹2.7K Cr ▲11.0% | ₹2.4K Cr ▼0.4% | ₹2.4K Cr ▲2.3% | ₹2.4K Cr ▲26.8% | ₹1.9K Cr ▲24.8% | ₹1.5K Cr ▲72.1% | ₹873 Cr |
| CWIP | ₹129 Cr ▼73.7% | ₹491 Cr ▼11.5% | ₹555 Cr ▲17.6% | ₹472 Cr ▼6.5% | ₹505 Cr ▲60.8% | ₹314 Cr ▲0.6% | ₹312 Cr ▼30.7% | ₹450 Cr ▲35.1% | ₹333 Cr ▼11.0% | ₹374 Cr |
| Investments | ₹16.5K Cr ▲11.6% | ₹14.8K Cr ▲9.3% | ₹13.5K Cr ▲9.8% | ₹12.3K Cr ▲59.6% | ₹7.7K Cr ▲97.9% | ₹3.9K Cr ▼32.1% | ₹5.7K Cr ▲16.8% | ₹4.9K Cr ▼11.8% | ₹5.6K Cr ▲11.9% | ₹5.0K Cr |
| Other Assets | ₹8.3K Cr ▼1.8% | ₹8.4K Cr ▲37.6% | ₹6.1K Cr ▲64.7% | ₹3.7K Cr ▼32.3% | ₹5.5K Cr ▼30.6% | ₹7.9K Cr ▲97.2% | ₹4.0K Cr ▼3.1% | ₹4.1K Cr ▲96.6% | ₹2.1K Cr ▲171.7% | ₹775 Cr |
| Total Assets | ₹28.9K Cr ▲6.5% | ₹27.2K Cr ▲17.6% | ₹23.1K Cr ▲20.4% | ₹19.2K Cr ▲18.9% | ₹16.1K Cr ▲10.9% | ₹14.6K Cr ▲16.9% | ₹12.4K Cr ▲9.3% | ₹11.4K Cr ▲19.6% | ₹9.5K Cr ▲35.9% | ₹7.0K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹4.0K Cr ▲6.9% | ₹3.7K Cr ▲31.9% | ₹2.8K Cr ▲84.9% | ₹1.5K Cr ▼9.7% | ₹1.7K Cr ▼0.2% | ₹1.7K Cr ▲7.6% | ₹1.6K Cr ▼36.5% | ₹2.5K Cr ▲45.3% | ₹1.7K Cr ▲16.7% | ₹1.5K Cr |
| Investing CF | ₹-2.5K Cr ▲13.2% | ₹-2.8K Cr ▼18.2% | ₹-2.4K Cr ▼143.8% | ₹-983 Cr ▲39.5% | ₹-1.6K Cr ▼7.8% | ₹-1.5K Cr ▼128.5% | ₹-660 Cr ▲69.2% | ₹-2.1K Cr ▼23.0% | ₹-1.7K Cr ▼74.2% | ₹-1.0K Cr |
| Financing CF | ₹-1.4K Cr ▼65.8% | ₹-844 Cr ▼102.4% | ₹-417 Cr ▲29.7% | ₹-593 Cr ▼3853.3% | ₹-15 Cr ▲98.3% | ₹-858 Cr ▼193.8% | ₹-292 Cr ▼11.5% | ₹-262 Cr ▼1148.0% | ₹25 Cr ▲105.4% | ₹-466 Cr |
| Net Cash Flow | ₹121 Cr ▲168.9% | ₹45 Cr ▲462.5% | ₹8 Cr ▲116.0% | ₹-50 Cr ▼198.0% | ₹51 Cr ▲107.6% | ₹-673 Cr ▼208.0% | ₹623 Cr ▲730.7% | ₹75 Cr ▲850.0% | ₹-10 Cr ▼150.0% | ₹-4 Cr |
| Free Cash Flow | ₹3.0K Cr ▲1.4% | ₹2.9K Cr ▲35.4% | ₹2.1K Cr ▲142.0% | ₹888 Cr ▼24.5% | ₹1.2K Cr ▲2.3% | ₹1.1K Cr ▲46.3% | ₹786 Cr ▼54.7% | ₹1.7K Cr ▲49.5% | ₹1.2K Cr ▲21.7% | ₹954 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 11d ▲37.5% | 8d ▼11.1% | 9d ▼18.2% | 11d ▲57.1% | 7d ▲133.3% | 3d ▲0.0% | 3d ▲0.0% | 3d ▲0.0% | 3d ▲50.0% | 2d |
| Inventory Days | 55d ▼3.5% | 57d ▲0.0% | 57d ▼17.4% | 69d ▲11.3% | 62d ▲47.6% | 42d ▼8.7% | 46d ▲48.4% | 31d ▼6.1% | 33d ▲0.0% | 33d |
| Days Payable | 90d ▲5.9% | 85d ▲6.3% | 80d ▼27.3% | 110d ▲1.9% | 108d ▲45.9% | 74d ▼16.9% | 89d ▼3.3% | 92d ▲22.7% | 75d ▼2.6% | 77d |
| Cash Conv. Cycle | -24d ▼26.3% | -19d ▼35.7% | -14d ▲51.7% | -29d ▲25.6% | -39d ▼39.3% | -28d ▲30.0% | -40d ▲31.0% | -58d ▼45.0% | -40d ▲4.8% | -42d |
| Working Capital Days | 31d ▲520.0% | 5d ▲135.7% | -14d ▲6.7% | -15d ▲50.0% | -30d ▲31.8% | -44d ▼4.8% | -42d ▲34.4% | -64d ▼16.4% | -55d ▼17.0% | -47d |
| ROCE | 30.0% ▼3.2% | 31.0% ▲14.8% | 27.0% ▲50.0% | 18.0% ▲5.9% | 17.0% ▼32.0% | 25.0% ▼39.0% | 41.0% ▼16.3% | 49.0% ▼7.5% | 53.0% ▲3.9% | 51.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About Eicher Motors Limited
Eicher Motors Limited, incorporated in 1982, is the listed company of the Eicher Group in India and a leading player in the Indian automobile industry and the global leader in middleweight motorcycles. Eicher has a joint venture with Sweden’s AB Volvo to create Volvo Eicher Commercial Vehicles Limited (VECV). VECV is engaged in truck and bus operations, auto components business, and technical consulting services business [1]
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