Eicher Motors (EICHERMOT) investor relations material

Executive summary

• Achieved record consolidated volumes of 1,227,977 units in FY26, with Royal Enfield surpassing 1.2 million motorcycles and VECV delivering over 100,000 units for the first time.

• Combined revenue of EML and VECV crossed INR 50,000 crores, with consolidated revenue from operations for FY26 at ₹23,408 crore and PAT at ₹5,515 crore.

• Royal Enfield maintained 87% market share in India's mid-size motorcycle segment and expanded international presence, with global volumes reaching 120,634 units.

• Entered the electric mobility space with the Flying Flea C6 and announced major capacity expansions in Tamil Nadu and Andhra Pradesh.

• Announced a new 50/50 joint venture with Volvo for vehicle financing, with an investment of up to INR 750 crores.

Financial highlights

• Q4 consolidated revenue at INR 6,080 crores, EBITDA at INR 1,514 crores, and profit after tax at INR 1,520 crores.

• FY26 consolidated EBITDA rose 22.8% to ₹5,785 crore, with margin at 24.7%.

• VECV FY26 revenue up 15% to ₹27,077 crore, EBITDA up 14.6% to ₹2,563 crore, and PAT up 16.5% to ₹1,471 crore.

• Royal Enfield sold 12.27 lakh motorcycles in FY26, with domestic sales up 23% and international volumes up 20%.

• Market capitalization reached ₹1,807 billion as of March 2026.

Outlook and guidance

• Strong start to FY27 with 31% growth in April 2026; medium-term trajectory expected to be upward.

• Strategic focus on balancing ICE and EV product lines, growth and profitability, and sustainability.

• Premium motorcycle segment expected to continue double-digit growth, with robust inquiry and booking trends.

• International markets, especially Brazil, remain growth drivers, while Europe is in a market adjustment phase.

• The company continues to monitor regulatory changes, including new Labour Codes and End-of-Life Vehicle (ELV) rules.