Royal Enfield (RE), the motorcycle franchise owned by Eicher Motors Limited
(EML), has reported a 7% yoy volume growth (7% mom volume decline) in July 2018. This was the lowest monthly yoy growth rate for the company in more than 50 months.
RE sold 69,063 bikes in July 2018 against CNBC-TV18's estimate of 75,000. It was also the first time in this calendar year (CY18) that the total vehicles sold in a month stooped below the 70,000-mark. Export growth was strong at 58% yoy (9% mom), while domestic volume growth limped at 6% yoy (down 8% mom).
Within its sub-segments, RE sold 63,713 vehicles with an engine capacity up to 350cc in July 2018 against 60,544 vehicles in July 2017, a growth of 5% yoy (down 7% mom). It sold 5,350 bikes in the higher engine capacity segment (>350cc) in July 2018 against 3,915 in July 2017, a growth of 37% yoy (down 6% mom).
Eicher Motors Ltd is currently trading at Rs27,400, down Rs420.95, or 1.51%, from its previous close of Rs27,820.95 on the BSE. The scrip opened at Rs27,820.95 and has touched a high and low of Rs27,911.75 and Rs27,148.45, respectively. A total of 57,379 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs75,857.44cr.