MarketsMojo downgrades Eicher Motors stock to Hold

Published on 10/13/2026 at 09:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Eicher Motors stock had Q1 FY27 revenue of INR 66.32 billion. Net income reached INR 14.63 billion, up 21.30 percent year over year.

Key points in brief

MarketsMojo downgraded Eicher Motors from Buy to Hold as of October 12, 2026.
Q1 FY27 revenue reached INR 66.32 billion and net income reached INR 14.63 billion.
NSE price was INR 7,095.50 on October 13, 2026, below the INR 8,230.00 52-week high.
September motorcycle sales rose 8.00 percent year over year to 133,958 units.

Eicher Motors, INE066A01021, Illustration mit AI erstellt.

Eicher Motors stock (ISIN INE066A01021) was at INR 7,095.50 on the NSE at 12:34 p.m. IST on October 13, 2026. MarketsMojo reported on October 12, 2026, that the rating had been downgraded from Buy to Hold.

Three results shape the story

On July 29, 2026, Eicher Motors reported Q1 FY27 revenue of INR 66.32 billion and net profit of INR 14.62 billion, with revenue up 31.50 percent and net profit up 21.30 percent year over year, according to ALFA Finder.

On September 1, 2026, the company reported 126,479 motorcycle sales for August, an 11.00 percent year-over-year increase, according to ALFA Finder. On October 12, 2026, MarketsMojo cited Q1 FY27 net sales of INR 66.32 billion and PBDIT of INR 15.91 billion as record figures while shifting its rating to Hold.

What does the Hold view change?

The rating change puts valuation beside operating growth. MarketsMojo cited a price-to-book ratio of 7.80 and a price-to-earnings-to-growth ratio of 1.70, figures that supported a more cautious assessment despite positive quarterly results.

The operating comparison remains favorable in the latest reported quarter: revenue growth of 31.50 percent exceeded the 21.30 percent increase in net profit, pointing to a gap between sales expansion and earnings growth. The distinction matters because the company is investing in international expansion and new electric motorcycle programs.

NSE price below the yearly high

The NSE quote was INR 7,095.50 at 12:34 p.m. IST on October 13, 2026, while the 52-week range was INR 6,442.00 to INR 8,230.00. The price stood 13.79 percent below the 52-week high, and the market capitalization was INR 1.9 trillion on the same date.

Eicher Motors combines Royal Enfield's premium motorcycle business with the commercial vehicle operations of VE Commercial Vehicles. The latest figures give the Hold decision a precise frame: strong Q1 FY27 growth, a high valuation multiple, and a share price positioned between the annual low and high.