Eicher Motors Q3 Results Review - Steady Outlook, Gradual Margin Recovery Under Way: ICICI Direct

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Direct Report.Eicher Motors Ltd. posted a mixed performance in Q3 FY23.Consolidated revenues for Q3 FY23 were at Rs 3,721 crore up 5.7% QoQ. Average selling prices at Royal Enfield, were flat QoQ at ~Rs 1.6 lakh/unit. Royal Enfield sales volumes were at ~2.21 lakh units, up 6.6% QoQ.Ebitda for the quarter was at Rs 857 crore with margins at 23%, down 30 basis points QoQ. Eicher Motors reported ~64 bps gross margin decline (amid adverse product mix) and limited operating leverage gains (other expense as percentage of sales, down just ~40 bps).Consolidated profit after tax was at Rs 741 crore, up 12.8% QoQ. The company’s share of profit from VE Commercial Vehicles Ltd. joint venture was at Rs 63.9 crore..Click on the attachment to read the full report:.More Research Reports On Eicher Motors' Q3 FY23 Results Review.Sequential Margin Expansion Expected: SystematixValuation Leaves Little Upside: Dolat CapitalInline; Stable Performance Despite Weak Mix: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Eicher Motors Q3 Results Review - Steady Outlook, Gradual Margin Recovery Under Way: ICICI Direct

Consolidated revenues for Q3 FY23 were at Rs 3,721 crore up 5.7% QoQ.

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