- 11 Aug 2022
- ICICIdirect Research
Eicher posts healthy Q1FY23 numbersEICHERMOT - 2899 Change: -10.65 (-0.37 %)
News: Consolidated revenues for Q1FY23 were at Rs 3,397 crore up 6.4% QoQ. EBITDA for the quarter was at Rs 831 crore with attendant EBITDA margins at 24.5%, up 75 bps QoQ. Consequent consolidated PAT was at Rs 611 crore, flat QoQ. PAT came in lower despite uptick in margins tracking lower other income on account of MTM loss on investments (~Rs120 crore) partly compensated by state grant (~Rs 40 crore).
View: The company began the year on a positive note with healthy margin profile. It reported ~30 bps gross margin expansion which were aptly supported by lower other expense which were down 80 bps QoQ. Going forward, the company expects margins to improve amid normalised input cost & uptick in volumes tracking positive feedback of its recently launched motorcycle i.e. Hunter 350 (launched at Rs1.5 lakh/unit).