Eicher Motors: Weak Quarter; Gradual Improvement in Supply Chain
We maintain our HOLD rating on the stock with a revised TP of Rs 2,800/share (Rs 2,850 earlier), resulting in an upside of 9% from the current levels.
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Easing supply chain, ramp-up in exports to drive growth
The performance miss in EIM was led by lower realization and launch/event related marketing spends. With supply chain issues showing some signs of...
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HSIE Results Daily: Titan, Eicher Motors
Eicher Motors: Royal Enfield's (RE) Q2 margin of 20.3% (+280bps QoQ) was aided by a benefit of INR400mn in employee expenses (gains due to unvested...
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Eicher Motors: Better Realizations Drive Above-Estimates Results; Upgrade To HOLD
We revise our rating from SELL to HOLD and upgrade our TP to Rs 2,850 (Rs 2,300 earlier), resulting in an upside of 7% from current levels.
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Above our estimate; beat driven by higher realization
EIM's beat in performance was driven by growth in RE realization and lower staff cost. With supply chain issues showing some signs of improvement,...
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