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Eicher Motors Q4FY21 Results | Yadnya Investment Academy

Eicher Motors Q4FY21 Results | Yadnya Investment Academy

Published on 31 May 2021|
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Consolidated Q4FY21 results

  • The Royal Enfield volumes stood at 2,03,343 units in Q4FY21, a growth of 25% from 1,63,083 units in Q4FY20.
  • The revenue from operations in Q4FY21 stood at Rs. 2,940.33 crores, as compared to Rs. 2,828.26 crores in Q4FY20, a growth of 33.2%.
  • EBITDA saw an increase of 45.6% from Rs. 561.27 crores in Q4FY20 to Rs. 817.33 crores in Q4FY21.
  • EBITDA margin for Q4FY21 stood at 27.8% as compared to 25.4% in Q4FY20.
  • Profit before tax increased by 54.1% from Rs. 446.84 crores in Q4FY20 to Rs. 688.59 crores in Q4FY21.
  • Profit after tax stood at Rs. 526.14 crores in Q4FY21 as compared to Rs. 394.28 crores in Q4FY20, a growth of 72.9%
  • PAT margin for Q4FY21 was 17.9% as compared to 13.8% in Q4FY20.

Consolidated FY21 results

  • The Royal Enfield volumes stood at 6,09,403 units in Q4FY21, a decline of 13% from 6,97,582 units in Q4FY20.
  • The revenue from operations in FY21 stood at Rs. 8,720.35 crores, as compared to Rs. 9,153.58 crores in FY20, a decline of (-4.7%).
  • EBITDA saw a decrease of (-18.1%) from Rs. 2,755.31 crores in FY20 to Rs. 2,257.11 crores in FY21.
  • EBITDA margin for FY21 stood at 25.9% as compared to 30.1% in FY20.
  • Profit before tax declined by (-24%) from Rs. 2,354.89 crores in FY20 to Rs. 1,789.93 crores in FY21.
  • Profit after tax stood at Rs. 1,346.89 crores in FY21 as compared to Rs. 1,827.44 crores in FY20, a decline of (-26.3%)
  • PAT margin for FY21 was 15.4% as compared to 20% in FY20.

Standalone Q4FY21 results

  • The revenue from operations in Q4FY21 stood at Rs. 2,916.82 crores, as compared to Rs. 2,163.95 crores in Q4FY20, a growth of 34.8%.
  • EBITDA saw an increase of 26.2% from Rs. 599.44 crores in Q4FY20 to Rs. 756.39 crores in Q4FY21.
  • EBITDA margin for Q4FY21 stood at 25.9% as compared to 27.7% in Q4FY20.
  • Profit before tax increased by 29% from Rs. 489.07 crores in Q4FY20 to Rs. 630.74 crores in Q4FY21.
  • Profit after tax stood at Rs. 468.08 crores in Q4FY21 as compared to Rs. 346.18 crores in Q4FY20, a growth of 35.2%
  • PAT margin for Q4FY21 was 16% which was similar in Q4FY20.

Standalone FY21 results

  • The revenue from operations in FY21 stood at Rs. 8,619.04 crores, as compared to Rs. 9,077.47 crores in FY20, a decline of (-5.%).
  • EBITDA saw a decrease of (-20.6%) from Rs. 2,819.12 crores in FY20 to Rs. 2,238.54 crores in FY21.
  • EBITDA margin for FY21 stood at 26% as compared to 31.1% in FY20.
  • Profit before tax declined by (-26.6%) from Rs. 2,430.34 crores in FY20 to Rs. 1,783.31 crores in FY21.
  • Profit after tax stood at Rs. 1,329.7 crores in FY21 as compared to Rs. 1,903.82 crores in FY20, a decline of (-30.2%)
  • PAT margin for FY21 was 15.4% as compared to 21% in FY20.

 

VECV

  • For Q4FY21, the revenue from operations for VECV stood at Rs. 3,602 crores, increasing by 71.4% from Rs. 2,101 crores in Q4FY20.
  • EBITDA stood at Rs. 320 crores, which had a huge rise as compared to Rs. 37 crores in Q4FY20.
  • The EBITDA margin grew to 8.9% from 1.8% in Q4FY20.
  • Profit After Tax for Q4FY21 stood at Rs. 127 crores as compared to a loss of Rs. 26 crores in Q4FY20.
  • The volumes in Q4FY21 stood at 18,167 units as compared to 11,629 units in Q4FY20, a growth of 56% YoY

 

Comments from Management

  • The business faced supply constraints and rise in commodity prices, still the demand continues to be good.
  • Encouraging demand from rural and urban segments.
  • In commercial segments, VECV gained market share across its segments.
  • The company added 535 new dealerships and studio format stores. This increased the retail presence of the company to 2,056 touchpoints spread across 1,750 cities.
  • The company expanded its international present by entering Japan with its first standalone flagship store in Tokyo. Japan is among the key motorcycling markets.
  • The company also entered new markets such as Cambodia, Costa Rica and Dominican Republic.
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