Eicher Motors Q4 Results Highlights: Royal Enfield maker's net profit up 18.2% YoY at ₹1,070 crore; dividend declared

The Royal Enfield maker, in a release issued post midnight, announced its quarterly results for the quarter-ended March 31, 2024. Here are the key highlights:

• The net profit increased by 18.2% year-on-year to ₹1,070 crore in Q4FY24, as compared to ₹906 crore in Q4FY23.

• Total revenue came in at ₹ 4,256 crore, up 11.87% as compared to ₹3,804 crore in the corresponding quarter of the previous fiscal year.

• EBITDA was ₹1,129 crore, up 20.88% as compared to ₹934 crore in the same quarter of the previous financial year

• The Board of Directors of the company declared a "final dividend of ₹51 per share" for FY24 with a payout of ₹1,396.4 crore.

• During the quarter, Royal Enfield recorded sales of 227,925 motorcycles, up by 6.17% from 214,685 motorcycles sold during the same period in FY23.

Shares of Eicher Motors have settled at ₹4,670 apiece on the NSE at closing bell, marking a surge of 2.23% as against the previous day's close.

• Siddhartha Lal- Managing Director & CEO
• S Sandilya- Chairman
• Manvi Sinha- Independent Director
• Inder Mohan Singh- Independent Director
• Vinod Aggarwal- Non-Executive Director
• B Govindarajan- CEO, Royal Enfield
• Tejpreet S. Chopra- Independent Director
• S Madhavan- Independent Director

• The results are expected to be widely tracked, as Eicher Motors is a leading player in the country’s premium two-wheeler market.
• The New Delhi-headquartered entity has a total market capitalisation value of ₹1.24 lakh crore, and is listed under Nifty50, one of the prime indices.

In 2024 so far, Eicher Motors shares have rallied by 12.7%, and the surge has been sharper at 33.2% in the past one year period.

Eicher Motors’ earnings before interest, taxes, depreciation and amortisation or EBITDA is likely to grow by 20% year-on-year to to ₹1,132 crore in Q4FY24, as per the estimate shared by a brokerage.

• Eicher Motors is expected to clock a revenue from operations of ₹4,166 crore in the March 2024 quarter, as per the average of estimates shared by eight brokerages.
• The forecast marks a 9% growth as against the revenue from operations of ₹3,804 crore recorded in the year-ago quarter.

• Eicher Motors is expected to post a net profit of ₹1,013 crore in the fourth quarter, as per an average of estimates shared by eight brokerages.
• The projection is higher by 36% as against the net profit of ₹906 crore in the year-ago period,

Ahead of the release of fourth quarter results, Eicher Motors' stock opened in the green at the bourses. The scrip was valued at ₹4,599 apiece at 9:30 am, up by over 0.5% as against the previous day's close.

Eicher Motors, the manufacturer of Royal Enfield motorcycles, will declare the results for the fourth quarter of financial year 2023-24 (Q4FY24) on Friday, May 10. Apart from the quarterly results, the company’s board of directors will also consider and approve the release of the earnings scorecard for the entire fiscal year ended March 31, 2024.

The results are expected to be widely tracked, as Eicher Motors is a leading player in the country’s premium two-wheeler market. The New Delhi-headquartered entity has a total market capitalisation value of ₹1.24 lakh crore, and is listed under Nifty50, one of the prime indices.

Eicher Motors Q4 results preview

The automobile major is expected to clock a net profit of ₹1,013 crore in Q4FY24, higher by 36% as against ₹906 crore in the year-ago period, as per an average of estimates shared by eight brokerages.

The revenue from operations is seen rising 9% year-on-year to ₹4,166 crore in the March 2024 quarter, as against ₹3,804 crore in the same quarter of the previous fiscal year.

According to one of the brokerages, Eicher Motors’ earnings before interest, taxes, depreciation and amortisation or EBITDA is likely to grow by 20% year-on-year to to ₹1,132 crore during the quarter under review.

Eicher Motors shares

Ahead of the release of Q4 results, the shares of Eicher Motors settled in the red on the bourses. The scrip was valued at ₹4,552.2 apiece on the NSE at the end of the trading hours on May 9, down about 1% as against the previous day’s close.

Year-to-date, the shares have rallied by 12.7%, and the surge has been sharper at 33.2% in the past one year period.