Multibagger automobile company expands business: Launches fifth global CKD assembly unit!

From Rs 306 per share to Rs 3,746.60 per share, the stock gave multibagger returns of 1,124.25 per cent in just 1 decade.

On Friday, shares of Eicher Motors Ltd surged 0.84 per cent to an intraday high of Rs 3,746.60 per share. At the closing bell, shares of the company were in red, down 0.42 per cent to Rs 3,699.60 per share with a spurt in volume by more than 20.07 times on BSE.

Royal Enfield, a global leader in the mid-size (250cc-750cc) motorcycle segment, today announced the commencement of operations of its exclusive Local Assembly Unit and CKD facility in Nepal. Set up in collaboration with the Triveni Group, this announcement is a significant boost to the company’s business in the SAARC region, and further reiterates Royal Enfield’s commitment to Nepal.

 Located in Birgunj, the new facility is the Royal Enfield’s fifth CKD assembly unit in the world - after Brazil, Thailand, Colombia and Argentina - in addition to its state-of-the-art manufacturing and ancillary facilities located in Tamil Nadu, India. 

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Eicher Motors Limited, incorporated in 1982, is the listed company of the Eicher Group in India and a leading player in the Indian automobile industry and the global leader in middleweight motorcycles.

The net sales increased by 19.10 per cent and the net profit increased by 48.40 per cent in Q4FY23 over Q4FY22. In FY23, net sales increased by 40.20 per cent and net profit rose by 73.80 per cent compared to FY22.

The company achieves a milestone with 1,00,000 Royal Enfield export shipments. The Board of the Company approved a dividend of Rs 37 per share declared for FY22-23, totalling Rs 1,011.88 crore (37 per cent of PAT). The Board also approves Rs 1,000 crore capex for FY23-24, including investment in EV manufacturing, product development, and new products.

From Rs 306 per share to Rs 3,746.60 per share, the stock gave multibagger returns of 1,124.25 per cent in just 1 decade. Investors should keep an eye on this automobile stock.