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EICHER MOTORS LTD.

NSE : EICHERMOTBSE : 505200ISIN CODE : INE066A01021Industry : Automobile Two & Three WheelersHouse : Eicher
BSE2975.1548.15 (+1.65 %)
PREV CLOSE ( ) 2927.00
OPEN PRICE ( ) 2925.00
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 124950
TODAY'S LOW / HIGH ( )2900.00 3035.50
52 WK LOW / HIGH ( )1246 3035.5
NSE2972.6046 (+1.57 %)
PREV CLOSE( ) 2926.60
OPEN PRICE ( ) 2900.00
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 2972.60 (139)
VOLUME 3091826
TODAY'S LOW / HIGH( ) 2900.00 3037.00
52 WK LOW / HIGH ( )1245.01 3037
AnalystEmailIdkriti.sahu@narnolia.com
AnalystNameKriti Sahu
BSECode505200
CP1DesignationMD & CEO
CP1NameMr. Siddharth Lal
CP2DesignationCFO
CP2NameMr. K. Arunachalam
CP3DesignationCEO, Royal Enfield
CP3NameMr. Vinod Dasari
CallDate14 Aug 2020
DescriptionThe company is getting bookings for bike nearly at pre -covid level. Almost, all dealers of Eicher motors are operational. Dealers opening ratio varies due to varying situation of COVID/lockdown in different cities. The quarter was extensively impacted due to covid-19 and in end days of June 2020, some recovery was seen. The company's market share fell from 22% to 20% in 1QFY21. The company is continuously expanding its network in 1QFY21 it added 38 stores and in export market it added 5 exclusive stores and 32 Multi brand outlets. Also, the company launched contactless sales platform in the quarter and it is doing well. The company saw an upsurge in its website’s count of number of visit from 2.5 million in pre-covid level to 5 million now. Interceptor was the best-selling bike in middleweight segment in June 2020 in U.K. Dealer’s inventory is at zero level and around 40000-45000 bookings are still pending. Bookings started to go up from June 2020, got expanded in July and gradually gap between bookings and production increased. Supply chain: got more impacted due to lockdown in Pune, Aurangabad and some part from Chennai too. Now supply chains are slowly getting better. The company is operating at 40-45% of its capacity and is expecting that by festive season it will be able to reach the required production level. The company got delayed by 3-6 months in doing launches due to covid-19 and now it would have new launches in September 2020. It has lined up many new products and almost every quarter they will have a new launch in Royal Enfield. The company is not sourcing anything from China. Exports are also doing well. Exports are 2.5-5% of the company’s sales and it is targeting to bring it to 20% of sales. Pricing: The pricing is still underway and it has passed on BS VI cost fully in case of bikes and majorly passed in VECV. VECV’s revenue from operations was Rs.641 Crores, down by 72% YoY. The company received extremely well response for BS – VI vehicles especially good amount of interest was seen of fleet owners and truck owners. Today, VECV has also announced acquisition of Volvo Bus India (VBI). No debt is coming, only business and assets are coming over. VECV market share increased from 30% to 36% level, this could be temporary, may be because of supply issues at competitor
SubjectQ1FY21 EARNING CONFERENCE CALL

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