Automobile
Auto - 2 & 3 Wheelers
from 7,779 today
We believe EIM remains well-positioned for sustained earnings upcycle, driven by ongoing capacity expansion, new products, brand investments, export momentum, and improving margins.
Eicher Motors reported 1QFY27 standalone Revenue, EBITDA, and adj. PAT growth of 27%, 23%, and 15% YoY respectively, driven by robust volume growth and demand momentum. We maintain our BUY recommendation with a target price of INR 9,665, implying 24% upside from CMP.
We maintain a BUY rating on the stock, with a revised target price of Rs 8,705/share, driven by strong volume momentum across Royal Enfield and VECV, supported by favourable market conditions.
EIM reported decent Q1FY27 consol numbers with revenues beating street estimates while EBITDA margins were in-line. We estimate revenue/EBITDA/APAT CAGR of 16.2%/18.0%/17.1% over FY26-28E and retain 'ACCUMULATE' rating with TP of INR8,300.
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