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Eicher Motors Ltd. numbers were broadly in line with estimates in Q4 FY21.
Revenue grew 33% YoY to Rs 29.4 billion led by 26% growth in volume and 6% increase in net average selling price.
Adjusted Ebitda (excluding one off Rs 500 million relating to forex losses on loans at Brazil and provision for advances given to a vendor) stood at Rs 6.84 billion with margin to 23.2% (in line estimate).
The management stated that Q1 expected to be weak due to supply and production side challenges.
However, demand is firm and strong order backlog(~ three months), pent up demand and spurt in export numbers will aid volume growth from Q2 FY22.
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