Royal Enfield (RE) maker Eicher Motors will be announcing its fourth quarter ended March 31, 2017 financial performance on Friday.

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On the back of strong Royal Enfield demand, the company has managed to outperform in both bottom-line (net profit) and top-line (revenue) in past three quarters of financial year 2016-17 (FY17).

In last quarter (Q3FY17), Eicher Motors saw a whopping 50% increase in consolidated net profit at Rs 418.20 crore as against Rs 278.70 crore a year ago same period.

During Q3, volume of Royal Enfield grew by 38% on year-on-year basis to 1.74 lakh units, while commercial vehicles volume dropped by 7% due to demonetisation drive.

However, this Q4, analysts expect the motorcycle to witness just 20% growth.

Analysts at Edelweiss Financial Service and Motilal Oswal expects Royal Enfield's volume to be at 178,228 units compared to 173,838 units of Q3FY17 and 125,744 units a year ago similar period.

Eicher Motors while announcing the March month sales numbers stated, that overall Royal Enfield volume stood at 666,490 units up 31% compared to 508,154 units of FY16. In March month, sales of RE grew by 17% yoy at 60,113 units.

Chirag Shah and Karthik Subramaniam, analysts at Edelweiss said, “We expect revenue growth of 23% YoY for Royal Enfield led by 20% YoY growth in volumes.”

Motilal report said, “Demand for RE at the retail level to access the impact post BS-III ban and demonetization on order book.” Adding it said, “Update on current demand trends for commercial vehicles, discount levels and channel inventory post BS-III ban.”

Going ahead, commercial vehicles are seen growing by 35.80% yoy and 46.21% qoq at 17,230 units this Q4. Motilal added, “Update on current demand trends for commercial vehicles, discount levels and channel inventory post BS-III ban will be key things to watch.”

For VECV, these analysts said volume will grow by somewhere 11% yoy on the back of pre-buying before BS-IV implementation. However, Edelweiss expects one-time impact of Rs 600 crore to factor in higher discounts to clear the BS-III inventory.

Further Motilal expects net realization to improve by 1.8% YoY but to remain subdued at 0.6 on QoQ basis, supported by price hikes. EBITDA margin should expand 240 basis points YoY to 32% and 50 basis points qoq, driven by operating leverage.

While the duo at Edelweiss expects operating margins to improve 30 basis points sequentially to 31.7% on account of benefits of operating leverage.

Overall Edelweiss expects Eichers net profit at Rs 4,685 crore, growing by 30% yoy and 12.02% qoq. Whereas revenue is seen at Rs 18,832 crore, rising by 22.90% yoy and 2.63% qoq.