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Eicher Motors Ltd.

BSE: 505200 Sector: Auto
NSE: EICHERMOT ISIN Code: INE066A01013
BSE 12:01 | 13 Nov 22523.35 546.10
(2.48%)
OPEN

21650.00

HIGH

22586.45

LOW

21200.00

NSE 11:54 | 13 Nov 22418.95 485.40
(2.21%)
OPEN

21451.00

HIGH

22470.10

LOW

21196.75

OPEN 21650.00
PREVIOUS CLOSE 21977.25
VOLUME 5149
52-Week high 32209.50
52-Week low 20301.10
P/E 31.27
Mkt Cap.(Rs cr) 61,421
Buy Price 22533.75
Buy Qty 13.00
Sell Price 22576.95
Sell Qty 8.00
OPEN 21650.00
CLOSE 21977.25
VOLUME 5149
52-Week high 32209.50
52-Week low 20301.10
P/E 31.27
Mkt Cap.(Rs cr) 61,421
Buy Price 22533.75
Buy Qty 13.00
Sell Price 22576.95
Sell Qty 8.00

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. Royal Enfield's product line-up includes the Bullet Classic and Thunderbird models in both 350 and 500cc displacements and the Continental GT 535cc model. EML's 50-50 joint venture joint venture with the Volvo group VE Commercial Vehicles Limited (VECV) designs manufactures and markets reliable fuel-efficient trucks and buses. 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 was 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.