EICHER MOTOR Announces Quarterly Results (3QFY21); Net Profit Up 4.0%

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EICHER MOTOR Announces Quarterly Results (3QFY21); Net Profit Up 4.0%
Thu, 11 Feb

EICHER MOTOR has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

EICHER MOTOR Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m23,71021,33628,28332.6%19.3%
Other incomeRs m1,3471,0001,25025.1%-7.2%
TurnoverRs m25,05722,33629,53332.2%17.9%
ExpensesRs m17,78716,62621,56229.7%21.2%
Gross profitRs m5,9234,7116,72042.7%13.5%
DepreciationRs m9521,0481,22917.2%29.1%
InterestRs m433836-5.8%-15.5%
Profit before taxRs m6,2754,6246,70645.0%6.9%
TaxRs m1,4541,1521,69447.0%16.5%
Profit after taxRs m4,8213,4725,01244.4%4.0%
Gross profit margin%25.022.123.8
Effective tax rate%23.224.925.3
Net profit margin%19.215.517.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 19.3% on a year-on-year (YoY) basis. The expenses were up by 21.2% YoY during the same period.
  • The company's operating profit increased by 13.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.8% in 3QFY21 as against 25.0% in 3QFY20.
  • Depreciation charges increased by 29.1% and finance costs declined by 15.5% YoY, respectively.
  • Other income declined by 7.2% YoY during the quarter.
  • Net profit for the quarter increased by 4.0% YoY. Net profit margins during the quarter declined from 19.2% in 3QFY20 to 17.0% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 32.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 29.7% QoQ during the same period.
  • The company's operating profit increased by 42.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.8% in 3QFY21 as against 22.1% in 2QFY20.
  • Net profit for the quarter increased by 44.4% QoQ, while net profit margins increased from 15.5% in 2QFY20 to 17.0% in 3QFY21.

To see how EICHER MOTOR has performed over the last eight quarters,please visit here.

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EICHER MOTOR Share Price Performance

Over the last one year, EICHER MOTOR share price has moved up from Rs 1,898.1 to Rs 2,815.4, registering a Gain of Rs 917.3 or around 48.3%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 24,714.0 (down 0.5%). Over the last one year it has moved up from 17,737.6 to 24,714.0, a gain of 6,976 points (up 39.3%).

Overall, the S&P BSE SENSEX is up 25.8% over the year.

Current Valuations

At the current price of Rs 2,815.4, the price to earnings (P/E) ratio of EICHER MOTOR stands at 6.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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