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NSE : EICHERMOTBSE : 505200ISIN CODE : INE066A01013Industry : Automobile Two & Three WheelersHouse : Eicher
BSE21573.25103.9 (+0.48 %)
PREV CLOSE ( ) 21469.35
OPEN PRICE ( ) 21686.40
BID PRICE (QTY) 21578.90 (2)
OFFER PRICE (QTY) 21597.00 (2)
TODAY'S LOW / HIGH ( )21442.95 21686.40
52 WK LOW / HIGH ( )15196.95 25300
NSE21582.40105 (+0.49 %)
PREV CLOSE( ) 21477.40
OPEN PRICE ( ) 21600.00
BID PRICE (QTY) 21577.00 (23)
OFFER PRICE (QTY) 21582.40 (3)
VOLUME 48644
TODAY'S LOW / HIGH( ) 21424.20 21700.00
52 WK LOW / HIGH ( )15200 25350
AnalystNameSwati Singh
CP1NameMr. Siddharth Lal
CP2NameMr. Lalit Malik
CP3DesignationCEO, Royal Enfield
CP3NameMr. Vinod Dasari
CallDate08 Nov 2019
DescriptionRoyal Enfield The Northern and Eastern states NCR, Punjab, UP have shown good growth during the quarter. The southern regions will show better growth from January led by festivals. Exports market may be affected going ahead in 3QFY20 and 4QFY20 led by seasonality impact. The company has launched 6 new variants of the Royal Enfield Bullet 350 and Bullet 350ES and they are well received by the customers. Classic 350 has also been launched with single ABS in 2QFY20. There were 250 Studio Stores opened up across in tier 2 and 3 towns in August. It launched 4 small format stores during the quarter and by the end of October, 250 more studio stores have been opened up. The management has planned to open upto 200-300 more studio format stores by the end of FY20. The company has further increased its presence in international markets in 2QFY20 and has added three stores each in France and Thailand and one store each in Italy, Brazil and Argentina. Inventory level for Royal Enfield stands at 3 weeks. The company has taken a marginal price increase in August. Financing level stands at 59% during the quarter due to festive season against 53-54% normal level. Capex for FY20 stands at Rs.700 crs to be spent on new product development. VECV The Commercial Vehicle industry continues to be challenging due to weak industry sentiments. The industry is expected to perform well from 3QFY20 led by thrust on infrastructure investments and pre-buying of BS IV vehicles and likely pick up in business activity with improved sentiments. Industry volumes have declined by 36% in H1FY20 while there was a drop of about 50% in 2QFY20. VECVs volumes declined by 39% during the quarter. The company is on track for the BS-VI commercial vehicle roll out from February 2020. VECV launched two new tippers - Eicher Pro 8028XM and Eicher Pro 6019T in heavy duty category during the quarter. The company also launched India’s first 9-Ton payload CNG truck in 2QFY20. The Pro 2000 series of trucks and which was launched in June 2019 have been received extremely well with market share improving to 31% in Q2FY19 from 25% in Q1FY19 in the sub-5 Ton category. VECV sold 11370 trucks and buses in 2QFY20, registering a decline of 39.2% YoY. VECV’s revenue was Rs. 2004 crores down 32% YoY. EBITDA declined by 61% YoY to Rs. 105 crores while PAT declined by 89% YoY to Rs. 15 crores.


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