Eicher Motors Q4 Results: Net profit at Rs 746 crore up by nearly 35% Y-o-Y, declares dividend of Rs 37 per share

Eicher Motors Q4 Results: Eicher Motors, which manufactures Royal Enfield motorcycles, reported a rise in profit by nearly 35 per cent year-on-year, as the net profit after tax rose to Rs 746.86 crore in this quarter, from Rs 553.38 crore reported by the company in the quarter ending in March’ 22.  There has been a significant rise of 38 per cent in the company's net income on Y-o-Y basis. 

In its regulatory filings, the company has also recommended a final dividend of Rs. 37/- per equity share of the face value of Re. 1 each for the financial year ended March 31, 2023, subject to the approval of the shareholders at the ensuing 41st Annual General Meeting. The Dividend shall be paid/ dispatched within 30 days from the date of shareholders’ approval. Thus, an investor having 10 shares of the company will receive Rs 370 (Rs 37 *10= Rs 370).  

"Recommended final dividend of Rs. 37/- per equity share of face value of Re. 1 each for the financial year ended March 31, 2023, subject to the approval of the shareholders at the ensuing 41st Annual General Meeting. The Dividend shall be paid/ dispatched within 30 days from the date of shareholders’ approval," the motorcycle maker said in the exchange filing.

For the year ended March 31, 2023, the company posted a consolidated net profit of Rs 2,914 crore as compared with Rs 1,677 crore in FY22. Total revenue from operations for FY23 increased to Rs 14,442 crore as against Rs 10,298 crore in the 2021-22 fiscal.

The company said its board has approved a cash outlay of Rs 1,000 crore for 2023-24. The capital would be utilised for electric vehicle manufacturing facility and product development and new product development under internal combustion engine portfolio.

According to Zee Business research, Eicher Motors was likely to report a 13.5 per cent increase in consolidated revenue to Rs 3,700 crore compared with the corresponding period a year ago. The company was expected to report Rs 880 crore in earnings before interest, taxes, depreciation and amortisation (EBITDA), translating to growth of 16.3 per cent compared with the year-ago period.

Shares of the company ended 0.25 per cent down at Rs 3,407.05 apiece on the BSE.

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