On February 11, 2026, shares of Eicher Motors Ltd emerged as the top gainer on the Nifty 50, surging nearly 7% to hit a fresh all-time high of ₹7,805 on the NSE. This massive breakout follows a robust Q3 FY26 earnings report where the Royal Enfield maker posted a consolidated net profit of ₹1,420.61 Crore, marking a 21.4% YoY jump.
The rally added over ₹13,900 Crore to the company’s market capitalization in a single session. Investors are cheering the “Double-Engine” growth from both its premium motorcycle division and its commercial vehicle arm, VECV, alongside a major new manufacturing investment.
Why is Eicher Motors stock rising today?
The primary catalyst is a significant “Earnings Beat” across all key metrics. Consolidated Revenue surged 23% YoY to ₹6,114 Crore, comfortably surpassing the Dalal Street consensus of ₹6,050 Crore. Operating efficiency took center stage as EBITDA margins expanded to 25.5%, driven by a richer product mix and value engineering.
Furthermore, the Board approved a massive ₹958 Crore brownfield expansion at the Cheyyar plant in Tamil Nadu. This move will scale Royal Enfield’s annual capacity from 14.6 Lakh units to a staggering 20 Lakh units, signaling management’s confidence in the long-term premiumization of the Indian two-wheeler market.
Q3 FY26 Financial Performance (Consolidated)
| Key Metric | Q3 FY26 (Actual) | Q3 FY25 (YoY) | Growth (%) |
| Total Revenue | ₹6,114 Cr | ₹4,973 Cr | 23% ↑ |
| Net Profit (PAT) | ₹1,421 Cr | ₹1,171 Cr | 21.4% ↑ |
| EBITDA Margin | 25.5% | 24.2% | +130 bps ↑ |
The “Analyst Consensus” on Eicher Motors
Leading global and domestic brokerages have turned ultra-bullish, with several raising their target prices immediately following the results.
- Citi: Maintained a ‘Buy’ rating with a raised target of ₹8,300, citing better average selling prices (ASPs) and the positive impact of GST rationalization.
- Jefferies: Increased the target to ₹8,800, stating that the “most challenging phase” of competition and margin pressure is now in the rearview mirror.
- CLSA: Highlighted the 26.6% standalone EBITDA margin as a standout performance, maintaining an ‘Outperform’ rating with a target of ₹8,066.
Also Read: Oswal Pumps Share Price Hits 5% Upper Circuit: Why Q3 Profits and New Orders Triggered a Breakout
The Bottom Line
Eicher Motors is currently the “North Star” of the Nifty Auto index, which itself rallied 1.3% today. With Royal Enfield domestic volumes up 24% and a clear roadmap to 20 Lakh units, the stock remains a top-tier pick for those betting on the Aam Aadmi’s shift toward premium mobility.