Market capitalization of Eicher Motors nearing the Rs1 lakh crore mark

23 Aug 2022 , 01:39 PM

In Tuesday’s intraday trade on the BSE, shares of Eicher Motors reached a new high of Rs3,479, rising 3.4%. Since the company released solid earnings for the June quarter two weeks ago, the stock has increased by 12%. (Q1FY23). It exceeded the previous record high of Rs 3,457.70 set on August 19, 2022.

The market capitalization (market-cap) of Eicher Motors has increased towards the Rs1 lakh crore mark as a result of a substantial rise in the company’s stock price. The market capitalization of Eicher Motors reached Rs 95,135 crore during intraday trading and is 5.2% short of the milestone. The listed parent of Royal Enfield (RE), the market leader in the middleweight motorbike category, is Eicher Motors (250cc – 750cc). The stock has outpaced the market over the last three months, rising 27% as opposed to the S&P BSE Sensex’s 9% increase.

Eicher Motors reported overall operating revenue of Rs3,397 crore, EBITDA of Rs 831 crore, and profit after tax of Rs 611 crore in Q1FY23. With total shipments at 28,390 units, more than a 62 percent rise over 17,493 in the same period last year, and a 30 percent increase over 21,787 in Q4FY22, Royal Enfield finished the quarter with its best ever performance in the overseas markets.