Eicher Motors Logs Record Earnings In March Quarter On Strong Vehicle Sales

Eicher Motors Ltd. posted record consolidated revenue and profit for the March quarter, driven by robust growth in commercial vehicle and Royal Enfield motorcycle sales. Consolidated net profit rose 27% on year to ₹13.6 billion, beating analysts’ forecast of ₹12.2 billion. Revenue climbed 23% to ₹52.41 billion.

This marked the company’s highest profit growth in five quarters and the strongest revenue growth in nine quarters. It dispatched 311,498 units in the quarter, up 23% on year, including an 11% rise in commercial vehicle sales and a 24% jump in Royal Enfield volumes.

Profit contribution from VE Commercial Vehicles Ltd, Eicher’s joint venture with Sweden's Volvo Group, surged 88% on year to ₹2.5 billion.

Other income rose 25% on year to ₹3.8 billion, while EBITDA was up 11.4% to ₹12.6 billion.

For 2024-25, Eicher Motors posted a record net profit of ₹47.3 billion, up 18%, and revenue grew 14% to ₹188.7 billion. Annual EBITDA rose 9% to ₹47.1 billion. VE Commercial Vehicles contributed ₹7 billion in profit, up 56%, on revenue of ₹235.5 billion, up 8%. EBITDA for the JV was ₹20.2 billion.

Expenditure Profile
In January-March, total expenses rose 27% on year to ₹42 billion. Raw material and component costs—about 64% of overall expenses—increased 24% to ₹26.9 billion.

Other expenses climbed 35% to ₹7.1 billion, employee costs rose 7% to ₹3.5 billion, and depreciation grew 22% to ₹2 billion. Finance costs were stable at ₹155 million.