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IDBI Capital Report
Eicher Motors Ltd.'s Q1 FY23 profit after tax was in line with our estimates with healthy Ebitda margins. Launch of its new much-awaited model ‘Hunter 350’ in India remains to be key business development for the company.
Hunter 350 is most affordable model among Eichers J-platform motorcycles (Classic 350 and Meteor 350).
Eicher Motors continues to receive highly encouraging response to this model. Further, management has expressed high optimism on the export market and sounded positive growth outlook in the domestic market. To factor in launch of new model and export performance, we have increased our volume and profit after tax estimates by 6% and 12% for FY24 respectively.
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