Eicher Motors Quarterly Results 2024

Eicher Motors Q3 Results 2023-24

Result snapshot (Rs.mn)	Q3FY24	Q3FY23	YoY (%)	Q2FY24	QoQ (%)	CEBPL EST. Dev. (%)	Dev. (%)
Volume	2,28,073	2,21,401	3.0	2,29,280	(0.5)	2,28,284	(0.1)
Net ASP (Rs/veh)	1,83,224	1,68,066	9.0	1,79,454	2.1	1,75,942	4.14
Net sales (incl 001)	41,788	37,210	12.3	41,145	1.6	40,165	4.0
Material Exp.	22,579	21,655	4.3	22,201	1.7	22,291
Employee Exp.	3,093	2,594	19.3	3,061	1.1	2,932
Other Operating Exp.	5,214	4,389	18.8	5,012	4.0	4,458
EBITDA	10,903	8,572	27.2	10,872	0.3	10,483	4.0
EBIDTA/ (Rs./Veh)	47,804	38,718	23.5	47,416	0.8	45,921	4.1
PBT	11,840	9,071	30.5	12,057	(1.8)	11,365
EOI - Gain / (Loss)	-	-	ΝΑ	-	NA	-
Share of JV	1,139	639	78.2	1,016	12.0	1,020	11.7
RPAT	9,960	7,408	34.4	10,163	(2.0)	9,430	5.6
APAT	9,960	7,408	34.4	10,163	(2.0)	9,430	5.6
Adj EPS (Rs.)	36.4	27.1	34.4	37.2	(2.0)	34.5

Operational performance	Q3FY24	Q3FY23	YoY (bps)	Q2FY24	QoQ (bps)	CEBPL EST.	Dev. (bps)
Gross margin (%)	46.0	41.8	417	46.0	(7)	44.5	146.8
EBITDA margin (%)	26.1	23.0	305	26.4	(33)	26.1	(1.0)
Employee Exp. % of Sales	7.4	7.0	43	7.4	(4)	7.3	10.2
Other Operating Exp. % Net Sales	12	12	68	12	30	11	137.6
APAT margin (%)	23.8	19.9	392	24.7	(87)	23.5	35.6

Source: Company, CEBPL