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Eicher Motors Q4FY23 PAT up 48.4% at Rs906 crore on 115% growth in EBITDA

May 12, 2023

By: BlinkX Research Team

Eicher Motors reported 19.1% growth in total revenues for the March 2023 quarter on consolidated basis at Rs3,804cr. On a sequential basis, the revenues were up 2.24%. In terms of verticals, the company recorded the fifth consecutive quarter of record revenues. Annual revenues and EBITDA also set an all-time record for FY23 at Rs14,442 crore and Rs3,444 crore respectively.

For the full year FY23, the company declared a final dividend of Rs37 per share implying a dividend payout ratio of 34.7% of PAT. It also approved a cash outlay of Rs1,000 crore for EV and for internal combustion (IC) engine technologies. For the quarter, VECV recorded highest ever quarterly sales of 26,376 units, up 31% on a yoy basis. For FY23, the VECV sales were at 79,623 vehicles in terms of volumes.

Financial highlights for Mar-23 compared yoy and sequentially

For the March 2023 quarter, the operating profits grew by 23.2% while the net profits grew by 48.4%. The sharp growth in PAT was largely on account of doubling of other income in the quarter. PAT margins also expanded impressively from 19.11% in Q4FY22 to 23.8% in Q4FY23.