Page 4 - Eicher Motors

Eicher Motors gets Rs 130 cr tax demand notices, company to challenge

Eicher Motors has been served demand notices of over Rs 130 crore from three different authorities over issues related to GST, according to a regulatory filing by the company. The company has received a demand order for an aggregate amount of Rs 129.79 crore, including a penalty of Rs 11.8 crore and applicable interest from the office of the Principal Commissioner of CGST and Central Excise, Chennai, Eicher Motors said in a regulatory filing. The officer has disallowed certain GST credit and raised GST demand, largely on account of the difference in GST credit mismatch between the company's GST availment and details reported by suppliers in their GST returns, it added. Besides, the turnover difference as declared in GSTR-3B with GSTR-1 return and non-reversal of input tax credit on material returned instead of output tax liability paid by the company have also been cited as reasons. Eicher Motors further said a demand order for Rs 70.9 lakh, including a penalty of Rs 3.2 lakh, has

Stocks to Watch today: BSE, Honasa, Newgen, Eicher, Cello World, Siemens

Stocks to watch on Tuesday, November 28, 2023: Honasa, Siemens and Newgen Software in focus today as exchanges lower circuit limit, results announcement and a liberal 1:1 bonus share issue.

Undeterred by price rise, CV sales likely to set a new record in FY24

Buoyed by improving highway infrastructure, demand for buses has grown by more than 35%. Overcrowded trains are also adding to the growing road-based transport

Eicher Motors hits new high; soars 18% thus far in Nov on healthy outlook

Despite the competitive pressure in Q2, Eicher Motors posted a healthy volume growth of 10.4% Y-o-Y basis to 248,831 units which supported by festive period and shift towards premium motorcycles

New launches, exports gain captured in Eicher Motors' valuations

Aided by a 10 per cent increase in volumes and 5 per cent increase in realisations

Eicher Motors rises 3% post Q2 results; should you buy, sell or hold?

Despite the competitive pressure, the company posted a healthy volume growth of 10.4 per cent Y-o-Y and marginally on sequential basis to 248,831 units

Eicher Motors Q2 net profit rises 55% to Rs 1,016 cr on robust sales

Eicher Motors on Friday said its consolidated net profit increased by 55 per cent to Rs 1,016 crore for the second quarter ended September 30, 2023, driven by robust sales. The company had reported a net profit after tax of Rs 657 crore in the July-September quarter of last fiscal. Total revenue from operations rose to Rs 4,115 crore for the September quarter as against Rs 3,519 crore in the year-ago period, Eicher Motors said in a regulatory filing. It was the company's highest-ever performance in terms of quarterly revenues, profits and sales, it said. Royal Enfield, a division of the company, sold 2,29,496 motorcycles in the second quarter, an increase of 13 per cent from 2,03,451 motorcycles sold in the same period of last fiscal. "At the halfway mark for the financial year, we have registered remarkable performance both at Royal Enfield and VE Commercial Vehicles," Eicher Motors Managing Director Siddhartha Lal said in a statement. VE Commercial Vehicles (VECV) Managing Dire

Eicher Motors September sales: Total sales down 5%; YTD business up 16%

Sales of models with engine capacity up to 350cc also went down by about 5% as the sales went down from 74,206 units in September 2022 to 70,345 in September 2023

Eicher Motors may see a smooth ride on easing competition concern

Eicher has sharply underperformed the Nifty50 index over the past one year with a return of -1.2 per cent while the benchmark is up 15.6 per cent during this period

Jefferies is bullish on these two 2-wheeler makers, sees up to 23% upside

Analysts at Jefferies, believe that the time is ripe to buy Eicher Motors given alleviating competitive concerns, along with tailwinds of 2W demand recovery, industry premiumization and exports.

VECV marks 15 years in India, says focused on exports and EV growth

The company also expressed its commitment to aggressively target markets such as West Asia, South East Asia, and Africa for future export growth

VE Commercial Vehicles total sales up 29.4% to 6,476 units in August

Eicher Motors Ltd on Friday said its arm VE Commercial Vehicles Ltd posted a 29.4 per cent growth in total sales at 6,476 units in August 2023. VE Commercial Vehicles (VECV), a joint venture of the Volvo Group and Eicher Motors, had sold 5,003 units in August 2022, Eicher Motors said in a regulatory filing. August 2023 sales included 6,239 units of the Eicher brand and 237 units of the Volvo brand, it added. In the domestic commercial vehicles market, Eicher branded trucks and buses recorded sales of 5,907 units last month as compared to 4,530 units in August 2022. Exports of Eicher branded trucks and buses were down 8.5 per cent to 332 units as against 363 units in August 2022, it added.

Royal Enfield plans to launch its first electric bike in two years

The company is evaluating the market requirements and the business prospect for electric motorcycles in the country

Eicher Motors rallies 3% on record Q1 earnings

The company's net profit jumped 50 per cent YoY to Rs 918 crore, its highest-ever quarterly profit; backed by a 17 per cent growth in revenue at Rs 3,986 crore.

Eicher Motors Q1 net rises 50%, lines up Rs 1K cr capex for Royal Enfield

Lines up Rs 1,000 crore capex for Royal Enfield

Eicher Motors Q1FY24 result: Consolidated net profit up 50% to Rs 918 cr

The revenue from operations for Q1FY24 came in at Rs 3,986.37 crore, compared to Rs 3,397.46 crore year-on-year

Eicher Motors July sales: Total sales up 32% YoY, global business down 22%

Sales for the company in up to 350cc segment vehicles went up by 39 per cent YoY as the volumes grew from 46,336 in July 2022 to 64,398 in July 2023

Eicher Motors extends fall, hits over 2-month low; down 11% in 3 days

Bajaj Auto and British motorcycle brand Triumph on Wednesday launched co-developed Triumph Speed 400 and Scrambler 400 X motorcycles in India.

Eicher Motors cracks 6% as Hero Moto-Harley Davidson tie up for X440 bike

Priced at Rs 2.29 lakh, X440 motorbike will directly compete with Eicher Motors' Royal Enfield Classic 350's starting price of Rs 1.93 lakh and the Hunter 350's Rs 1.5 lakh

India's June passenger vehicle sales climb on account of new launches

Auto sales numbers are keenly watched as they are a key indicator for assessing private consumption, which has more than 50% weightage in calculating the country's economic growth