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

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

 Eicher Motors    

Rs in Crore

Mar-23

Mar-22

YOY

Dec-22

QOQ

Total Income (Rs cr)

₹ 3,804

₹ 3,193

19.13%

₹ 3,721

2.24%

Operating Profit (Rs cr)

₹ 786

₹ 638

23.21%

₹ 722

8.75%

Net Profit (Rs cr)

₹ 906

₹ 610

48.42%

₹ 741

22.24%

 

 

 

 

 

 

Diluted EPS (Rs)

₹ 33.06

₹ 22.29

 

₹ 27.04

 

OPM

20.65%

19.97%

 

19.41%

 

Net Margins

23.80%

19.11%

 

19.91%

 

 

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.

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