āagman

Not investment advice. Data and computed figures, for information only.

Eicher Motors Ltd

NSE: EICHERMOTF&O
₹7,225.00
+₹142.50 (+2.01%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹1,93,538 Cr
CMP
₹7,225.00
52-wk High / Low
₹8,230 / 6,442
P/E
33.3
P/B
7.7
Book Value
₹915.0
Div Yield
1.16%
ROCE
31.0%
ROE
24.0%
Face Value
₹1
D/E
0.02

Price+3.7% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹2,035
√(22.5 × EPS × book value per share)
ROIC
15.0%
vs 11.5% sector median
Cash flow to profit
0.87
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+13
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
14.7%
ROE × earnings retention ratio
ROE stability
3.4
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.03FII −1.25DII +1.24
Latest quarter vs the previous one
Cash-accrual divergence
2.4%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 18% vs the 2022 sector median of 14%)
+PE of 33.3x is below the sector median of 35.7x
Watch-outs
−Borrowings are up 2134.8% since FY2016 (23 to 514)
−Price trades below its 200-day moving average (1.0x)
−Promoter holding fell by 0.2pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,9864,1154,1794,2564,3934,2634,9735,2415,0426,1726,1146,0806,632
Expenses2,9663,0273,0893,1273,2283,1753,7723,9833,8394,6604,5574,5665,042
Operating Profit1,0211,0871,0901,1291,1651,0881,2011,2581,2031,5121,5571,5141,591
OPM %25.6%26.4%26.1%26.5%26.5%25.5%24.2%24.0%23.9%24.5%25.5%24.9%24.0%
Other Income344375368437457468452628603486465675634
Interest10131215121313161519172022
Depreciation142143148165169180179201198200211232278
Profit before tax1,2121,3071,2981,3851,4411,3621,4611,6691,5931,7791,7931,9371,925
Net Profit9181,0169961,0701,1011,1001,1701,3621,2051,3691,4211,5201,463
EPS (₹)33.5837.1236.3839.1040.2040.1542.7049.6843.9549.9351.7955.4153.28

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8,7386,1737,0338,9659,7979,1548,72010,29814,44216,53618,87023,40824,998
Expenses7,6214,4844,8596,1566,8936,9716,9378,12010,99612,20614,14817,61818,825
Operating Profit1,1181,6902,1742,8092,9042,1831,7832,1783,4464,3294,7235,7896,173
OPM %12.8%27.4%30.9%31.3%29.6%23.8%20.4%21.1%23.9%26.2%25.0%24.7%24.7%
Other Income1053264165367015724824969081,5211,9942,2252,260
Interest1024571916192851547278
Depreciation220137154223300382451452526598729840920
Profit before tax9931,8772,4333,1163,2972,3551,7982,2033,8005,2025,9337,1027,434
Net Profit7021,3381,6671,9602,2031,8271,3471,6772,9144,0014,7345,5155,773
EPS (₹)22.7149.2761.2771.8980.7566.9149.2861.32106.55146.13172.69201.06210.41

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital272727272727272727272727—
Reserves2,4893,6265,3187,0038,8919,95411,41112,58114,96318,01821,26925,073—
Borrowings5823112151187249219108288419458514—
Other Liabilities3,8291,2631,5522,3412,2812,2202,9013,4243,9194,6505,4206,549—
Total Liabilities6,4034,9397,0099,52211,38712,45014,55916,14019,19823,11527,17432,164—
Fixed Assets2,3097908731,5021,8752,3782,4332,4242,6902,9143,4733,852—
CWIP41994374333450312314505472555491736—
Investments1,0783,3884,9875,5814,9235,7493,9027,72112,32113,52714,79117,496—
Other Assets2,5976677752,1064,1404,0117,9095,4903,7156,1198,41910,080—
Total Assets6,4034,9397,0099,52211,38712,45014,55916,14019,19823,11527,17432,164—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Dec 2013Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity7161,0471,4631,7082,4821,5751,6941,6911,5272,8233,7243,9804,805
Cash from Investing Activity−790−1,214−1,001−1,744−2,145−660−1,508−1,625−983−2,397−2,834−2,461−2,834
Cash from Financing Activity−47−162−46625−262−292−858−15−593−417−844−1,399−1,983
Net Cash Flow−121−329−4−1075623−67351−50845121−12

Ratios

As of 31 Mar 2026
13 periods
Dec 2013Dec 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %22.028.051.053.049.041.025.017.018.027.031.030.031.0
ROE %————————————24.0
EPS (₹)14.5722.7149.2761.2771.8980.7566.9149.2861.32106.55146.13172.69201.06
Book Value (₹)————————————915.0
Face Value (₹)————————————1
P/E————————————33.3
Div Yield %————————————1.16
NPM %7.77.920.622.420.621.018.814.615.519.022.222.721.5
OPM %11.013.027.031.031.030.024.020.021.024.026.025.025.0
D/E0.040.020.010.020.020.020.020.020.010.020.020.020.02
P/B————————————7.7

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+14.0%
5 years+22.0%
3 years+17.0%
TTM+28.0%
Compounded profit growth
10 years+15.0%
5 years+33.0%
3 years+24.0%
TTM+20.0%
Stock price CAGR
10 years+11.0%
5 years+19.0%
3 years+26.0%
Last year+1.0%
Return on equity
10 years23.0%
5 years22.0%
3 years24.0%
Last year24.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters50.58%50.58%50.49%49.32%49.28%49.23%49.21%49.20%49.14%49.08%49.06%49.03%
FIIs32.45%32.45%30.97%32.49%27.71%29.06%29.22%28.63%28.95%25.02%26.77%25.52%
DIIs4.03%4.03%5.90%4.55%11.12%9.08%9.95%11.19%11.04%16.55%14.73%15.97%
Government0.00%0.00%0.03%0.11%0.15%0.15%0.10%0.10%0.10%0.10%0.10%0.10%
Public12.94%12.94%12.61%13.53%11.75%12.49%11.52%10.88%10.77%9.26%9.35%9.40%
No. of shareholders81,87281,87293,3411,17,1361,09,8992,52,0142,63,4792,66,1682,63,1322,49,4832,80,3992,83,648
Change since Jun 2023 (pp)
Promoters −1.55FIIs −6.93DIIs +11.94Public −3.54

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Monthly Business UpdatesAnnouncement under Regulation 30 (LODR)-Monthly Business UpdatesClosure of Trading WindowReminder Letter To Holders Of Physical Securities For Furnishing Of KYC DetailsAnnouncement under Regulation 30 (LODR)-Press Release / Media Release
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPTAug 2025Recording

Corporate actions

As of 31 Jul 2026
31 Jul 2026DIVIDENDDividend - Rs 82 Per Share—
1 Aug 2025DIVIDENDDividend - Rs 70 Per Share—
7 Aug 2024DIVIDENDDividend - Rs 51 Per Share—
14 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Rs 37 Per Share—
12 Aug 2022DIVIDENDAnnual General Meeting/Dividend - Rs 21 Per Share—
9 Aug 2021DIVIDEND Annual General Meeting/Dividend - Rs 17 Per Share—
24 Aug 2020SPLIT Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share10 : 1
19 Mar 2020DIVIDEND Interim Dividend - Rs 125 Per Share—
24 Jul 2019DIVIDEND Annual General Meeting/ Dividend - Rs 125 Per Share—
2 Aug 2018DIVIDEND Annual General Meeting / Dividend- Rs 110 Per Share—
31 Jul 2017DIVIDEND Annual General Meeting/Dividend - Rs 100/- Per Share—
22 Mar 2016DIVIDEND Interim Dividend - Rs 100/- Per Share—
11 Mar 2015DIVIDENDAnnual General Meeting / Dividend - Rs 50/- Per Share (Agm And Book Closure Dates Revised)—
12 Mar 2014DIVIDENDAnnual General Meeting/Dividend Rs 30/- Per Share—
13 Mar 2013DIVIDENDAnnual General Meeting/Dividend Rs 20 Per Share—
13 Mar 2012DIVIDENDDividend-Rs.16 Per Share—
8 Mar 2011DIVIDENDDividend-Rs.11/- Per Share—
5 Mar 2010DIVIDENDDividend-Rs.7/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman