Eicher Motors gains after Q1 PAT climbs 20% YoY to Rs 1,101 cr

Revenue from operations increased 10.2% YoY to Rs 4,393.05 crore during the quarter.

Profit before share of profit of Joint venture and tax stood at Rs 1,266.48 crore, up 13.96% as compared with Rs 1,111.35 crore in Q1 FY24.

EBITDA was Rs 1,165 crore in Q1 FY25, up 14.1% as compared to Rs 1,021 crore in the same quarter of the previous financial year.

During the quarter, Royal Enfield recorded sales of 2,27,736 motorcycles as compared to 2,25,368 motorcycles sold during the same period in FY 2023-24.

In Q1 FY25, VECV’s revenue from operations increased 1.8% to Rs 5,070 crore as compared with Rs 4,980 crore posted in same quarter last year. Profit after tax jumped 76.24% YoY to Rs 319 crore in Q1 FY25. VECV recorded sales of 19,702 vehicles for FY 2024-25 over 19,571 vehicles in FY 2023-24.

Siddhartha Lal, managing director, Eicher Motors, said, “At Royal Enfield, we launched the Guerrilla 450, our premium, modern roadster on the Sherpa platform. We believe the Guerrilla is a formidable motorcycle with strong potential and will be a gamechanger in the category. We have a robust product calendar for the rest of the year as well, and are getting ready to launch the 2024 Classic very soon. Meanwhile, VE Commercial Vehicles recorded its best ever first-quarter sales, gaining volumes in key segments, and reflecting its commitment to excellence and customer satisfaction.”

B. Govindarajan, CEO - Royal Enfield and wholetime director, EML said, “Royal Enfield has witnessed a good start to FY25. Our diverse product range has strengthened our position in the mid-size segment across the globe. This quarter has been particularly notable for our performance in the international markets.

We have launched Himalayan 450 across APAC, EU, UK, and Mexico. In our commitment to sustainable travel and support to the Himalayan communities, we also introduced Camp Kharu in Ladakh, a first of many to come Green Pit Stops. Reinforcing our dedication to exceptional rider satisfaction and the ‘pure motorcycling’ ethos, we announced 'Borderless Warranty Program' providing riders with warranty coverage across 70+ countries. We remain focused on innovation and excellence, driving forward with a commitment to delivering extraordinary experiences to riders around the world.”

Vinod Aggarwal, MD and CEO VECV, said, “VECV delivered its highest ever first quarter sales during Q1 FY25 growing 0.7% over Q1 FY24. This is a testament to our focus on delivering uptime to customers backed by a fast-expanding service and parts network. We took a significant step this quarter by forming a JV with iTriangle Infotech to develop next-gen surround services related to transportation business – building on our industry leading connected vehicle ecosystem. We also continued to deliver new products and variants in line with developments in the industry. During the quarter, margins remained under pressure due to a competitive market situation.”

Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles which operates in India's commercial vehicle space.