Buy Eicher Motors, price target Rs 22800: Kunal Bothra

Independent Analyst Kunal Bothra has a buy call on Eicher Motors Ltd. with a target price of Rs 22800. The current price of Eicher Motors Ltd. is Rs 22370. Kunal Bothra recommended to keep a stop loss at Rs 21850.

Eicher Motors Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 60722.07 Crore) operating in Auto sector.

Eicher Motors Ltd. key Products/Revenue Segments include Automobile – 2 Wheelers which contributed Rs 8692.07 Crore to Sales Value (88.74 % of Total Sales), Spare Parts & Components which contributed Rs 602.03 Crore to Sales Value (6.14 % of Total Sales), Traded Goods which contributed Rs 421.06 Crore to Sales Value (4.29 % of Total Sales), Other Operating Revenue which contributed Rs 33.30 Crore to Sales Value (0.33 % of Total Sales), Scrap which contributed Rs 24.99 Crore to Sales Value (0.25 % of Total Sales) and Export Incentives which contributed Rs 21.03 Crore to Sales Value (0.21 % of Total Sales) for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 2171.54 Crore, down 8.03 % from last quarter sales of Rs 2361.24 Crore and down 9.34 % from last year same quarter sales of Rs 2395.22 Crore. Company has reported net profit after tax of Rs 564.39 Crore in latest quarter.