Eicher Motors Q2 Outcomes Overview


Eicher Motors Ltd.’s Q2 FY23 Ebitda margin at 23.3% was down 112 foundation factors QoQ as a result of 154 bps QoQ gross margin contraction on account of rise in Hunter combine.

Launch of Hunter-350 has served as a lighter and cheaper mannequin to draw new prospects to Royal Enfield model (26% first-time consumers). With Hunter-350 creating marginal cannibalisation to the remainder of portfolio, we’re estimating RE to clock common quantity of 80,000 models/month in the remainder of FY23.

Declining enter commodity costs, sturdy orderbook and securing of chip provide to assist RE scale up forward, and in flip enhance profitability in coming quarters.

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