Eicher Motors Limited has announced the launch of its Second 100 Days Campaign titled 'Saksham Niveshak', effective from April 01, 2026 to July 09, 2026. The campaign has been initiated pursuant to directives from the Investor Education and Protection Fund Authority (IEPFA) to reach out to shareholders whose dividends remain unpaid or unclaimed.

Campaign Objectives and Scope

The 'Saksham Niveshak' campaign is designed to engage with shareholders and provide comprehensive assistance across multiple areas. The company aims to help shareholders claim unpaid/unclaimed dividends for the period from FY 2018-29 to FY 2025-26. Additionally, the campaign focuses on updating crucial KYC details, including PAN, bank mandates, email ID, mobile number, and nomination information.

Key Requirements for Shareholders

A critical aspect of the campaign involves preventing the transfer of unclaimed dividends and corresponding shares to the Investor Education and Protection Fund (IEPF). The company has emphasized that dividends are payable only through electronic mode for shareholders with unpaid/unclaimed dividends. The dividend amount will be credited to the shareholder's bank account only after the required details and documents are properly updated.

Update Procedures for Different Shareholder Categories

The company has outlined specific procedures for different categories of shareholders to update their information:

For Demat Account Holders:

• Contact Depository Participants (DP) directly
• Register or update KYC details in the demat account
• Ensure all information is current and accurate

For Physical Share Holders:

• Submit relevant documents including Forms ISR-1, ISR-2, ISR-3, SH-13, SH-14
• Contact the Registrar & Transfer Agent (RTA)
• Update KYC details, PAN, and nomination choices

Contact Information and Support Services

Shareholders requiring assistance can contact MUFG Intime India Private Limited, the company's Registrar & Transfer Agent. The RTA office is located at C-101, Embassy 247, L.B.S. Marg, Vikhroli (West), Mumbai – 400083, with telephone support available from (022) 4918 6000 to 4918 6079.

Digital Resources and Documentation

The company has made relevant forms available through multiple digital channels. Shareholders can access Forms ISR-1, ISR-2, ISR-3, SH-13, and SH-14 through the RTA's website and the company's official website. Additionally, shareholders are encouraged to register and track their requests through the SWAYAM portal for enhanced service management.

The campaign details have been published in Business Standard newspaper in both English and Hindi editions across all regions. All information and updates are also available on the company's website and the websites of BSE and NSE stock exchanges, ensuring comprehensive accessibility for all shareholders.

Eicher Motors has received a revised target price from Morgan Stanley, with the global brokerage maintaining its Equal-weight rating while adjusting the price target upward. The revision reflects a balanced view of the company's prospects amid challenging industry conditions.

Target Price Revision

Near-term Challenges

Morgan Stanley has identified several headwinds that are expected to impact the auto sector in the near term. The brokerage specifically highlights cost pressures as a significant concern, alongside supply-chain risks that continue to affect the industry. Additionally, tightening regulations are anticipated to create additional challenges for automotive manufacturers.

The impact of these factors is expected to be particularly pronounced on margins during 1QFY27, according to Morgan Stanley's assessment. These challenges reflect broader industry trends affecting multiple players in the automotive sector.

Medium-term Outlook

Despite the near-term headwinds, Morgan Stanley maintains a positive medium-term outlook for Eicher Motors. The brokerage expects a volume upcycle to support the company's performance in the coming periods. This anticipated increase in volumes is seen as a key driver for future growth.

The gradual cost pass-through mechanism is another factor supporting Morgan Stanley's medium-term view. This suggests that while cost pressures may impact margins initially, the company is expected to gradually transfer these costs to consumers, helping to restore margin levels over time.

Industry Perspective

Morgan Stanley's analysis reflects an attractive view of the industry overall, suggesting that despite current challenges, the fundamental outlook for the automotive sector remains positive. The combination of expected volume recovery and cost management strategies supports this optimistic industry perspective.