Eicher Motors posts highest-ever Q1 revenue at ₹5,042 crore, profit up 9% amid strong demand

Eicher Motors said on Thursday that it recorded its best-ever first-quarter revenue of more than ₹5,000 crore, buoyed by strong demand for premium motorcycles and commercial vehicles. Its net profit, on the other hand, increased 9.4% in the first quarter to ₹1,205 crore.

In the first quarter, Royal Enfield, Eicher Motors’ premium motorcycle brand, clocked in sales of 2,61,326 motorcycles, up 14.7% from the same period last year. On the other hand, VE Commercial Vehicles registered sales of 21,610 units, with a growth of 9.7% from the year-ago period. It reported a quarterly revenue from operations that stood at ₹5,671 crore, up 11.9%. First quarter Ebitda jumped 32.6% to ₹511 crore.

“Moving ahead on our global ambition, we further strengthened our reach in the SAARC region and expanded our portfolio in Nepal with the locally assembled Classic 350,” said B Govindarajan, MD, Eicher Motors, and CEO, Royal Enfield, in a statement. Govindarajan added that VE Commercial Vehicles is anchored in a strong product portfolio, delivering consistent growth in the process.

According to Vinod Aggarwal, MD and CEO of VECV and vice chairman of Eicher Motors, the overall market share improved to 18.7%, compared to 17.3% last year, led by continued leadership in LMD trucks—a 34.5% share—and a strong showing in buses, where total bus volumes grew 14.8% and market share rose to 21.5%. Exports grew by 20.5% over the last year. “Deliveries of all-electric Eicher Pro X in the SCV segment (2.0–3.5T) continue to gather momentum. Heavy‑duty volumes were marginally lower, reflecting a lower total market despite market share gains,” he added.

In an overwhelmingly downturned market, Royal Enfield has emerged as an outlier, growing 12% year-on-year, according to Motilal Oswal Financial Services. Royal Enfield has been an outperformer in the more than 250 cc segment—the segment has been a key growth driver of the two-wheeler industry in the recent past, where growth was primarily driven by strong demand for the Bullet 350, which posted a 58% jump in volumes year-on-year. However, the Guerrilla has yet to gain traction, with Himalayan and Guerrilla volumes declining compared to just Himalayan volumes last year.