Eicher Motors had been going up for the past two days in anticipation of good numbers. But the earnings have been disappointing and the stock price today fell almost 6% to Rs.19,165.65 and it is less than 3% away from its 52-week low of Rs.18,780.

The company’s consolidated net profit for Q4FY19 dropped 16% (YoY) at Rs.545 crore and this was on a meager 1% rise in revenue at rs.2500 crore. Lower sales and higher raw material costs and other expenses pulled down the bottomline.  Volume was down 14% but thankfully higher realization helped shore the topline a bit.

EBITDA was down 14% at Rs.685 crore and margins declined by a huge 408 bps to 27.4%.