Eicher Motors Share Price Target 2026: Brokerage firm Emkay has maintained a bullish outlook on Royal Enfield maker Eicher Motors’ stock following its announcement of Q4 FY26 results, citing healthy demand outlook and resilient margin performance. The company on Friday reported 11.58 per cent increase in consolidated profit after tax at Rs 1,519.95 crore for March quarter FY26.
Eicher Motors Share Price Target 2026
Created with AI. Errors are possible“The management highlighted that demand for premium motorcycles is healthy, led by the current strong consumer sentiment and ongoing premiumization, supported by lower inventory levels (~7 days for depot; lesser number of days for dealers). On exports, while EIM is faring well in Brazil/LatAm, it is cautiously optimistic about FY27. EIM has capacity to expand to 1.6mnpa units (1.4mnpa units now) by Jun/Jul-26, with a phased ramp-up to 2mnpa units by Q2FY28,” the brokerage said in a note.
“Also, it recently announced a Rs25bn investment in a new greenfield in Andhra Pradesh, to expand capacity beyond 2mnpa units. Of the 3-3.5% commodity cost impact expected in Q1FY27, EIM has already offset 50% of it via a strategic 1.75% price hike in Apr-26. Also, production-related challenges (LPG/labor shortage) seen in Apr-26 are now behind, with production on track. VECV’s demand outlook is healthy, given its healthy orderbook; VECV has offset the 3-3.5% commodity hit via a 2% price hike in Apr-26. We raise FY28E EPS by 4.5% on higher volume, and increase our TP by 5.2% to Rs 8,100 from Rs7,700 at 30x FY28E core PER,” Emkay added.
Eicher Motors had logged a profit after tax (PAT) of Rs 1,362.15 crore in January-March FY25.
Revenue from operations was at Rs 6,080.09 crore in the quarter as against Rs 5,241.11 crore a year ago.
During the quarter, Royal Enfield, a part of the company, recorded its “highest Q4 sales” volume of 3,13,811 motorcycles, Eicher Motors Ltd said in a regulatory filing.
VE Commercial Vehicles (VECV), a joint venture between Eicher and Volvo Group, recorded sales of 33,976 vehicles in the fourth quarter, up 18.48 per cent year-on-year.
In the entire FY26, Eicher Motors’ PAT was up 16.5 per cent to Rs 5,515.23 crore. Total revenue from operations was up 24 per cent to Rs 23,407.56 crore.
“Royal Enfield recorded its highest-ever annual sales surpassing 1.2 million units in FY26 marking the second consecutive year of crossing the 1 million annual sales. Total volumes stood at 1,227,977 units, a 22 per cent YoY increase,” said an earnings statement from Eicher Motors.
Domestic sales grew 23 per cent to 1,107,343 units, while international volumes grew 20 per cent, with 120,634 motorcycles exported, it said.
In FY26, VECV also reported highest-ever revenue from operations of Rs 27,076.6 crore, reflecting a 15 per cent growth over last year.
“VECV sold 103,404 units in FY26, growing 14.7 per cent over FY25,” it said.
Meanwhile, in a separate filing Eicher Motors informed that its board has recommended final dividend of Rs 82 per equity share of face value of Re 1 each for financial year ended March 31, 2026.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
