Eicher Motors Q2 profit jumps 24%; Royal Enfield delivers record sales

Eicher Motors Ltd (EML) has reported its best-ever quarterly performance for the three months ended September 30, 2025, as strong demand for Royal Enfield motorcycles and steady growth in its commercial vehicle business lifted both revenue and profit.

The company’s net profit jumped 24% year-on-year (YoY) to ₹1,369 crore in Q2FY26, compared with ₹1,100 crore in the same period last year. Revenue from operations surged 45% to ₹6,172 crore, against ₹4,263 crore in Q2FY25. EBITDA climbed 39% YoY to ₹1,512 crore.

Sequentially too, Eicher Motors showed strong momentum, with profit and revenue rising 14% and 22%, respectively, over the April–June quarter of the current fiscal.

“We recorded strong performance across the board for both Royal Enfield and VECV. We witnessed an outstanding festive season, achieving record sales of 2.49 lakh units,” said B. Govindarajan, Managing Director of Eicher Motors and CEO of Royal Enfield.

“The Government of India’s GST reform has further enhanced accessibility for motorcycles under 350cc, as reflected in the strong customer demand,” he added.

Royal Enfield logs best-ever quarterly sales

Royal Enfield, the crown jewel of Eicher Motors, posted its “highest-ever” quarterly sales by delivering 3,27,067 motorcycles during the quarter under review. The sales were up 45% from 2,25,317 units in Q2FY25, fuelled by strong festive demand and a refreshed product portfolio.

The brand rolled out several updates across its lineup this quarter — the Meteor 350 received design and comfort upgrades, the Hunter 350 got a vibrant Graphite Grey colourway, and the Guerrilla 450 debuted in a bold Shadow Ash edition, reinforcing Royal Enfield’s focus on personalization and style.

Royal Enfield also deepened its cultural connect with riders through the 14th edition of “One Ride”, which brought together over 40,000 riders across 1,500 rides in 60+ countries under the theme “Ride More. Ride Safe. Ride Together.”

The brand gears up for its signature annual event, Motoverse 2025, to be held in Goa from November 21–23, featuring races, custom builds, and art installations.

VECV delivers solid performance

Eicher’s joint venture with Volvo Group, VE Commercial Vehicles (VECV), also delivered solid performance.

The business reported revenue of ₹6,106 crore, up 10.3% YoY, while EBITDA rose 8% to ₹479 crore. Profit after tax came in at ₹249 crore, up from ₹208 crore in the same quarter last year.

VECV sold 21,901 vehicles during the quarter, compared with 20,774 units in Q2FY25. With record sales, refreshed products, and expanding brand engagement, Eicher Motors continues to strengthen its leadership in the mid-size motorcycle segment.

“VECV delivered a solid performance in Q2 FY26, growing by 5.4% year-on-year and registering our best ever second quarter in terms of truck and bus deliveries. Eicher retained its position as the market leader in Light and Medium Duty Trucks (5-18.5 T GVW), while delivering 10,096 units in the quarter,” said Vinod Aggarwal, MD and CEO – VECV and Vice Chairman – Eicher Motors.

During the quarter under review, the company launched the ‘Eicher Pro Plus’ range of medium-duty trucks with air-conditioned cabs, in line with new regulatory mandates. Equipped with a fuel-efficient compressor system and enhanced loading capacity, the new range is designed to deliver a “win-win” for both operators and drivers.

“GST rationalisation has had a positive impact on consumer confidence and consumption. This will, in turn, support demand for commercial vehicles in the coming period,” Aggarwal added.

Meanwhile, shares of Eicher Motors settled day’s trade at ₹6,830.80, down 0.70%, with a market capitalisation of ₹1.87 lakh crore.