Shares of Eicher Motors Ltd continued to decline today, trading 1.20% lower at Rs 6,772.50 on Friday, November 14, extending the previous session’s fall after the company’s September quarter results came in either in-line or below CNBC-TV18 estimates.
On Thursday, November 13, the stock had dropped nearly 2% following the announcement of its Q2 FY26 earnings. Eicher Motors reported a net profit of Rs 1,369 crore, up 24.5% year-on-year but below the CNBC-TV18 poll estimate of Rs 1,451 crore.
Revenue rose 45% YoY to Rs 6,176 crore, marginally above expectations, supported by strong volume growth. Royal Enfield volumes surged 43% YoY and 23% sequentially, while commercial vehicle volumes rose 6% YoY but were flat quarter-on-quarter.
EBITDA for the quarter stood at Rs 1,513 crore, up 39% YoY, and largely in-line with the estimate of Rs 1,516 crore. However, the EBITDA margin contracted 100 basis points to 24.5%, missing expectations due to an unfavourable product mix and elevated raw material costs.
The stock continues to react to the margin weakness and the earnings miss, extending its downward trend in today’s session.
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