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Eicher Motors Ltd.

BSE: 505200 Sector: Auto
NSE: EICHERMOT ISIN Code: INE066A01021
BSE 12:10 | 06 May 2418.95 47.50
(2.00%)
OPEN

2389.00

HIGH

2433.35

LOW

2378.00

NSE 11:59 | 06 May 2417.45 45.05
(1.90%)
OPEN

2384.80

HIGH

2434.00

LOW

2377.00

OPEN 2389.00
PREVIOUS CLOSE 2371.45
VOLUME 14162
52-Week high 3035.50
52-Week low 1285.20
P/E 54.74
Mkt Cap.(Rs cr) 66,110
Buy Price 2418.25
Buy Qty 32.00
Sell Price 2420.50
Sell Qty 13.00
OPEN 2389.00
CLOSE 2371.45
VOLUME 14162
52-Week high 3035.50
52-Week low 1285.20
P/E 54.74
Mkt Cap.(Rs cr) 66,110
Buy Price 2418.25
Buy Qty 32.00
Sell Price 2420.50
Sell Qty 13.00

Eicher Motors Ltd. (EICHERMOT) - Company History

Eicher Motors (EML) manufactures the iconic Royal Enfield brand of motorcycles which leads the premium motorcycle segment in India. Royal Enfield is the oldest motorcycle brand in continuous production world-wide since 1901. Royal Enfield's product line-up includes the Bullet Classic and Thunderbird models in 350cc.EML's 50-50 joint venture with the Sweden's AB Volvo VE Commercial Vehicles Limited (VECV) designs manufactures and markets reliable fuel-efficient trucks and buses is one of India's leading manufacturer of trucksbuses engines and engineering components. VECV has a wide product range from 5t to 40t GVW trucks and 15 to 65 seater buses. The buses are sold under the Skyline and Starline brands.Eicher Motors Ltd was incorporated in the year 1982. The company in technical collaboration agreement with Mitsubishi Motor Corporation of Japan produced the Light Commercial Vehicle in India. The commercial production as commenced in their plant at Pithampur in Madhya Pradesh with the launch of Canter truck in June 1986. The agreement with Mitsubishi ended in March 1994 after successful transfer of technology and achieving total Indigenization.The demerger of Tractors Two-Wheelers Engines and Gears businesses from Eicher Ltd was transferred to the company with effect from April 1 2003. In May 25 2005 the company acquired 100% of the shares of Design Intent Engineering Inc USA which is engaged in the business of providing computer aided engineering & design services for a consideration of USD 2.5 million.The company's Tractor division at Mandideep Gears division at Parwanoo and Engines division at Alwar had been sold to TAFE Motors and Tractors Ltd a wholly owned subsidiary of Tractors and Farm Equipment Ltd for a consideration of Rs 310 crore with effect from June 1 2005. The company acquired a transmission gear manufacturing plant at Dewas having a gear cutting capacity of 5 lacs gears per annum with effect form November 1 2006.During the year 2006-07 the company acquired the 100% equity shares of Hoff and Associates (Hoff) Plymouth Michigan (USA) along with Hoff's two wholly owned subsidiaries in Beijing and Shanghai China for a consideration of USD 3.5 million. In order to synergize the activities between the two subsidiary companies in USA Hoff and Associates merged with Design Intent Engineering Inc with effect from January 1 2008 and the name of Design Intent Engineering Inc was changed to Eicher Engineering Solutions Inc.In May 2008 the company signed a definitive agreement with Aktiebolaget Volvo Sweden for a formation of a joint venture company through transfer of the existing Commercial Vehicle Business along with related Components and Design Services Business. In August 2008 they transferred the Components and Design Services Business to VECV the joint venture company with effect from July 01 2008.On 11 June 2010 VE Commercial Vehicles (VECV) announced an investment of Rs 288 crore in its Pithampur Madhya Pradesh plant for the production and final assembly of the Volvo group's new global medium-duty engine platform.On 12 July 2011 Eicher Motors announced that it has been allotted land government at the SIPCOT Industrial Growth Centre Oragadam by the Tamil Nadu state for building a new plant for the manufacture of Royal Enfield motorcycles. On 30 April 2013 Royal Enfield announced that it had started commercial production from its new manufacturing facility at Oragadam Tamil Nadu. In July 2012 Eicher Motors signed an equal joint venture with Polaris Industries Inc. to set up a greenfield project. EML's joint venture with Polaris Industries Inc.- Eicher Polaris Private Ltd (EPPL) launched Multix- a new 3-in-1 vehicle for the independent businessman in June 2015.In December 2013 VECV's Eicher Trucks and Buses division (ETB) launched the future of Indian trucking with the introduction of its 'Pro series' range of trucks and buses ranging from 5-49 tonne.In February 2015 Royal Enfield started retail operations in Colombia with the opening of two exclusive stores in Bogota and Medellin.In May 2015 Royal Enfield acquired Harris Performance a motorcycle engineering and design firm based in UK.On 24 August 2015 Royal Enfield announced its entry in Indonesia at GAIKINDO Indonesia International Auto Show (GIIAS) 2015. Royal Enfield opened its first exclusive store in Jakarta in January 2016.In December 2015 Royal Enfield announced its entry in Thailand at the Thailand International Motor Expo in Bangkok.In June 2016 Royal Enfield announced its tie-up with Flipkart India's largest e-commerce marketplace to sell Royal Enfield gear and accessories.Royal Enfield opened its flagship store in Milwaukee North America in September 2016. Two exclusive stores were also added in Europe in October 2016 one each in Barcelona and Valencia in Spain.On 18 March 2017 VE Commercial Vehicles Limited announced that it had divested 100% shares of its wholly owned subsidiary Eicher Engineering Solutions Inc in United States of America (USA) to SegulaTecnologias Espana S.A.U. a Spanish corporation. The total enterprise value of the deal was pegged at $1852000.In August 2017 EML commenced commercial production of motorcycles at its third manufacturing facility at Vallam Vadagal near Chennai. In September 2017 Royal Enfield launched two variants of its bestselling motorcycle model Classic - Stealth Black in 500cc and Gunmetal Grey in 350cc with a contemporary and stylish matt finish.In October 2017 Royal Enfield forayed into Vietnam the fourth biggest motorcycle market in the world and opened its first store in Ho Chi Minh City.In November 2017 Royal Enfield unveiled its ground-up modern twin motorcycles the Interceptor INT 650 and the Continental GT 650 at the EICMA Motor Show Milan Italy.In November 2017the company opened the Garage Cafe in Goa. Reflecting the motorcycling way of life' the 120-seater Garage Cafe on the banks of the Baga River in Baga Goa offers a relaxed unhurried experience and is conceptualised to be an inclusive engaging space. The Garage Cafe is a one-of-itskind format that is an amalgamation of the various dimensions of Royal Enfield. The cafe houses a motorcycle museumand- exhibition area an exclusive gear store a motorcycle customisation area and a service bay.During 2017-2018 the company in an effort to allow easier discovery and access to preowned Royal Enfield motorcycles introduced first pre-owned motorcycle store - Vintage - in Chennai. A pioneering initiative in the two-wheeler industry Royal Enfield Vintage will deal exclusively in pre-owned refurbished and restored motorcycles offering hassle-free sale and purchase experience to consumers. The company also added 150 new dealerships in India taking the total retail outlet strength to 825 exclusive stores in the country making the company the strongest premium motorcycle distribution in the country by a large margin.In June 2018 the company introduced the limited edition Pegasus at the Imperial War Museum in Duxford U.K. Inspired by the RE/WD motorcycle lovingly known as the Flying Flea which played a pivotal role in World War 2 only 1000 motorcycles were available across the world. The company sold all the 250 motorcycles meant for India in just 178 seconds via an online sale!. The company also successfully introduced Anti-lock Braking Systems (ABS) on all our motorcycles well ahead of the regulatory deadline starting with the Signals inspired by our long association with the Indian armed forces.During 2019-2020 under reviewThe companies flagship business Royal Enfield sold 697582 motorcycles and in an effort to increase the retail footprint in India and to cater to smaller towns and cities Royal Enfield announced the Studio Stores format and launched 600 new Studio Stores during the year. These together with the 921 dealerships take Royal Enfield's retail touchpoints to 1521 across India. The company also also launched new variants of the Royal Enfield Bullet 350 and the Classic 350 during the year to further enhance accessibility for consumers. In addition to the BS VI compliant Classic 350 Bullet 350 the 650 Twin motorcycles Royal Enfield also launched the BS VI Himalayan in the fourth quarter of the fiscal year. The Himalayan BS VI has a vibrant new look and improved features that have made it instantly successful in India and across the world. The new motorcycle has received great reviews from media experts and from consumers.In the international markets the company now has 77 exclusive stores outside of India and a retail network spread across 60 countries. The company has opened new consumer touchpoints in Thailand Brazil Argentina France and the UK taking our total dealer touchpoints in international markets to over 660 stores including multi-brand outlets. Royal Enfield expanded its retail footprint in the Asia-Pacific region during 2019-20 by setting up its first standalone flagship store in Seoul South Korea.During the year under review the company completed the set-up of our Global Headquarters in Chennai which also houses a world-class product development and technology centre.

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