Eicher Motors Limited is the flagship company of the Eicher Group in India and a leading player of the Indian automobile industry. The Company is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. The world’s oldest motorcycle brand in continuous production, Royal Enfield has made its distinctive motorcycles since 1901. Focussed on bringing back simple, yet engaging and accessible motorcycling, Royal Enfield operates in India, and over 60 countries around the world with modern development facilities in Leicestershire, UK and Chennai, India. Royal Enfield makes its motorcycles in Chennai, Tamil Nadu for the world. Royal Enfield has evolved into an experiential brand. Royal Enfield with its motorcycle that combines modern-day elements with the brand’s heritage, garners immense enthusiasm amongst global motorcyclists. In addition to motorcycles, Eicher has a joint venture with Sweden’s AB Volvo - Volvo Eicher Commercial Vehicles Limited (VECV) - has pioneered modernisation of commercial vehicles in India and other developing countries.

Business area of the company

The Company is engaged in the manufacturing and selling of motorcycles, spare parts and related services.

Products

Motorcycles
Commercial Vehicles (CV)
Engineering Components

Awards

2015-16

Emerging Company of the Year award - ET Awards 2015
Best Company of the Year award - Business Standard Annual Awards, 2015

2016-17

The Himalayan won the Motorcycle of the Year Award up to 500 cc at the NDTV Car and Bike Awards 2017.

2017-18

VECV was honoured with ‘Excellence in HR’ at the Manufacturing Today Awards 2017
VECV won ET Now HR Leadership Awards 2018 in the Best Talent Management Strategy

2018-19

VECV won ‘Best Risk Management Framework and System Automotive and Auto Ancillary’ award by ICICI Lombard and CNBC TV-18
Interceptor 650 won the prestigious ‘Best Modern Classic Middle-Weight’ a prestigious category award at the Thailand Bike of the Year 2019 awards.

2019-20

Team Eicher won the Gold Medal in the General Management Category at AIMA Corporate Management Olympiad.
VECV won the Best Experiential and Brand Experiences award for ‘Samvaad’, an initiative by Eicher Buses, at BTVI National Awards for Marketing Excellence.

Milestones

1948: Goodearth Company set up to sell and service imported tractors
1952-57: Goodearth Company imported and sold about 1500 tractors in India
1958: Eicher Tractor Corporation of India Limited incorporated
1959: First indigenous Eicher tractor built. Eicher came out with India’s first indigenously built tractor from its Faridabad factory.
1960: Eicher changed name from Eicher Tractor Corporation of India Private Limited to Eicher Tractors India Limited
1965-75: 100% indigenization achieved in Eicher Tractors
1980: Eicher Goodearth Limited name given to Eicher.
1982: Collaboration agreement with Mitsubishi for the manufacture of Light Commercial Vehicles signed in Tokyo.
1982: Incorporation of Eicher Motors Limited
1985: Silver Jubilee Year for Eicher
1986: Eicher Motors Limited springs into operation
1987: Eicher Tractors went public
1990: Eicher Goodearth buys 26% equity stake in Enfield India Limited
1991: ECS launched; Eicher takes over Ramon & Demm.
1992: Eicher Tractors Limited selected as ‘Company of the Year’ for 1990-91 in the four-wheeler category comprising commercial vehicles, passenger cars, jeeps and tractors.
1993: Eicher adopts new identifier. Eicher acquires majority stake in Enfield India (60% equity shareholding)
1994: Eicher Motors Limited ends the technical assistance agreement with Mitsubishi after a successful transfer of technology and achieving total indigenisation. Enfield India Limited changed its name to Royal Enfield Motors Limited
1996: Eicher Tractors Limited amalgamated with Royal Enfield Motors to form Eicher Limited
2005: Eicher Motors Limited has disinvested the businesses of tractors and engines to TAFE Motors & Tractors Limited (TMTL).
2008: Volvo Group and Eicher Motors Limited established VE Commercial Vehicles Limited (VECV).
2010: The company launched the VE-series of Heavy Duty trucks
2012: Royal Enfield launches the Thunderbird 500 and 350 models.
2013: Royal Enfield opens second manufacturing facility in Oragadam, Tamil Nadu.
2014: Royal Enfield opens its first concept store in Saket, New Delhi and launches its first exclusive store in London, UK.
2015: Royal Enfield acquires erstwhile collaborators Harris Performance of the U.K., a motorcycle engineering and design firm, to enhance its engineering and product design capabilities.
2015: Royal Enfield sets up its first direct distribution subsidiary outside India, in North America. Royal Enfield North America (RENA) is headquartered in Milwaukee, Wisconsin.
2016: Royal Enfield debuts its first purpose-built adventure tourer motorcycle - the Himalayan. With the all-new LS410 engine and terrain-tested chassis, it promises the ride of a lifetime on all roads and no roads
2017: Royal Enfield moves into its state-of-the-art Tech Centre at Leicestershire, UK to design and develop new motorcycle platforms for the global market
2018: Royal Enfield launches its first air-cooled parallel twin cylinder motorcycles in 50 years - Continental GT 650 and Interceptor INT 650 for the International and domestic market
2019: Royal Enfield transitions to BS VI emission norms for its current motorcycle portfolio and grew its retail network by opening studio stores - a unique, compact format that will house the entire range of Royal Enfield motorcycles

Company	Market Price	MCAP(Cr)	P/B	P/E	EPS	ROE
EICHERMOT	3435.85(0.0%)	93,945	6.0	29.1	27.5	21.2
TVSMOTOR	1492.85(-0.5%)	71,206	12.0	48.9	14.1	26.4
HEROMOTOCO	3000.95(0.1%)	59,993	3.4	20.5	56.0	40.5
BAJAJ-AUTO	5085.2(0.0%)	1,43,891	4.7	22.0	26.5	20.5
ATULAUTO	579.75(1.3%)	1,590	3.8	0.0	-6.3	-8.8

Peer Comparison