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Eicher Motors Share Price Target
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Market leader in the 250 cc premium motorcycle segment
Founded in 1959, Eicher Motors Ltd has a dominant market position in the 250 cc-plus premium motorcycle segment. The company produces motorcycles, commercial vehicles, and trucks. It is one of the leading players in the Indian two-wheeler market. The company is expanding into the international market. It plans to launch electric vehicles in the Indian market. It has a strong balance sheet and healthy return ratios. It has a strong network of dealerships.
Eicher Motors’ premium motorcycle portfolio includes the 650 twins, aspirational models, and motorcycles under the RE brand. The company also has a presence in the commercial vehicle segment through its joint venture with AB Volvo Group-VE Commercial Vehicles. The company plans to enter the electric vehicle market in India and abroad.
The motorcycle market in India is divided into two segments: the mass and the premium. The mass segment is made up of commuter bikes in the range of 100 to 200 cc. Mass segment bikes are usually cheaper in the range of 50,000 to 1,000,000 INR. Mass segment bikes have a slow annual growth rate of 2%.
During April-September this year, Eicher Motors sold 378,029 motorbikes in the 250-500 cc segment. The company’s total bookings exceeded those for the previous fiscal year.
The company’s sales were a mix of international and domestic brands. International brands sold a smaller volume than domestic brands. The company plans to increase its presence in the international market over the next five years. It has identified Latin America and Southeast Asia as key markets. Its commercial vehicles division, Volvo Eicher Commercial Vehicles, manufactures trucks, buses, and other commercial vehicles.
The company’s premium motorcycle portfolio includes the Classic 350, which accounts for 70% of the total volumes in the over 250 cc segment. The company has expanded its global presence and opened retail stores in Singapore and Colombia. It is also working on new retail formats. It recently opened a pre-owned motorcycle store in Chennai.
The company has a strong order book and a healthy order pipeline. The company is confident in its supply chain and expects to add more vendors in the future.
Expanding its business into new countries
VECV, the company’s commercial vehicles arm, is on a roll in a tough market. In fact, its PAT (profit after tax) increased by 33% in fiscal year (FY) 2017-18, compared to its fiscal year (FY) 2016-17 counterpart. The company has also announced plans to expand its business into new markets. In the short-term, it is expected that the company’s domestic market will grow to 35,675 units by 2020-21.
VECV also announced a new Bus division in the works, which will house its India operations. The company has expertise in the premium bus segment, and is looking to capitalize on that fact by offering a range of innovative and technologically advanced products. The company has also announced a $50 million investment in the country over the next three years, which will help the company expand its product portfolio.
The company also boasts of a robust risk management framework, which is overseen by the Risk Management Committee of the Board. The company has also devised an industry-first app, dubbed the VECV app, which allows fleet owners and operators to communicate with the company on a real-time basis. The app is available on iOS and Android devices, and features an array of value-added services. It is also the first of its kind in the country.
It also boasts of a number of innovative products and services, including the largest truck engine in the world. It has also launched the aforementioned VECV app and the aforementioned My Eicher App. These products are not only innovative, they also boast of the highest quality standards, and are backed by the best after-sales service in the business.
It is also on the list of the world’s largest manufacturers of motorcycles, scooters and motorcycle parts. The company also manufactures cars and engineering components. In fact, the company’s marquee product, the Royal Enfield, is ranked as the best selling motorcycle in India, with a volume of 5,95,474 units in fiscal year (FY) 2021-22. In fact, Royal Enfield has also topped the list of best-selling premium motorcycles in the country.
Developing new models from the ground up
During the last financial year, Eicher Motors Limited registered an impressive 13% year on year growth. It has a healthy balance sheet and a robust product portfolio. Moreover, it has a strong network of dealerships and an aftersales service.
Its flagship product is the Royal Enfield brand of motorcycles. It is the oldest motorcycle brand in continuous production since 1901. Its products include the classic 350, Meteor and J-series. Its products are sold in over 60 countries around the world. Its motorcycles have been awarded with the best in class accolades.
The Royal Enfield Classic 350 redefined the middleweight motorcycle segment. Its design embodied classic post-war styling. The Classic 350 is currently available in four variants: the 350cc, 350cc Street, 375cc and 500cc. It is manufactured in Chennai, Tamil Nadu.
The company has a diversified business portfolio with investments in areas such as management consultancy services, maps and travel guides, electric vehicles and customised engineering. In addition to the Royal Enfield brand, Eicher Motors Limited also has a joint venture with Swedish car maker AB Volvo. The company has also entered into a 50:50 joint venture with Polaris Industries Inc. Besides, it has signed an MOU with Tamil Nadu.
The company has also entered into a strategic tie-up with Chola, an investment company. The company is expected to use the tie-up to develop an electric vehicle. It will also partner with Polaris to develop a greenfield project. The company has also invested in a ‘Stile’, a multi-purpose vehicle.
The company is planning to launch its own premium electric motorcycle line in the near future. In addition, it has also taken over Ramon & Demm, a motorcycle manufacturer that manufactures a number of motorcycles.
The Eicher Motors Limited has a diversified product portfolio, a well-developed dealership network and a strong balance sheet. The company also has a well-planned product development process. Moreover, its product and business strategy are in sync with those of the competition. In addition, the company has a healthy return on investment (ROI) and a strong liquidity position.
Debt-free company
Founded in 1982, Eicher Motors Limited is an automobile manufacturer based in Mumbai. The company produces trucks, buses and commercial vehicles. It also provides motorcycle accessories and protective riding apparel. It has a global presence in the middleweight motorcycle segment. It is the parent company of Royal Enfield.
Eicher Motors has a relatively clean balance sheet. There is only 83 million rupees of debt on the company’s books. This is a relatively low figure when compared to its net worth of Rs 11,438 crore. However, the company does have short term borrowings of Rs 157 crore.
Nevertheless, the company’s stock price is at historic highs. Its price has multiplied more than 1,000 times. This stock price has changed the company’s fortunes and set the stage for a new era in the company’s history.
The company’s balance sheet has improved significantly over the past five years. It has taken on only a small amount of short term borrowings, but it has accumulated significant amounts of free cash.
The company has used this free cash to reduce debt. The company has invested in an additional production capacity at Vallam Phase-2. It also plans to expand its portfolio of Royal Enfield motorcycles for global markets. It also plans to invest in developing new motorcycles to meet upcoming regulations.
Compared to other companies, Eicher Motors has a relatively low cost of debt. The company has a weighted average cost of capital of 0.013 U.S. dollars, which is the rate that the company pays to all security holders. It also has a low beta of n/a. This means that it has a lower volatility than the market.
The company has a weighted average return on capital employed of 36.9% in the fiscal year 2016-17. This is a positive sign as it shows that the company’s financial ratios are in line with other manufacturing companies.
The company is also rumored to be working on a new motorcycle to compete against Harley Davidson. The company also has a joint venture with Volvo Group, which brings its manufacturing expertise to the company.