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Informist, Thursday, Nov. 13, 2025

 

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--Eicher Motors Jul-Sept consol net profit INR 13.69 bln
--Analysts saw Eicher Motors Jul-Sept consol net profit at INR 14.14 bln
--Eicher Motors Jul-Sept consol revenue INR 61.72 bln
--Analysts saw Eicher Motors Jul-Sept consol revenue at INR 60.33 bln
--Eicher Motors Jul-Sept consol PAT INR 13.69 bln vs INR 11.00 bln year ago
--Eicher Motors Jul-Sept consol revenue INR 61.72 bln vs INR 42.63 bln yr ago
--Eicher Motors Apr-Sept consol PAT INR 25.75 bln vs INR 22.02 bln year ago
--Eicher Motors Apr-Sept consol revenue INR 112.13 bln vs INR 86.56 bln yr ago
--Eicher Motors: VE CV share of Q2 profit INR 1.35 bln vs INR 1.14 bln

 

By Anand JC

 

MUMBAI – Eicher Motors Ltd. reported a robust double-digit growth in its consolidated net profit for the September quarter, but missed analysts' expectations. Sales of its Royal Enfield motorcycles supported a 12-quarter high, year-on-year rise in revenue that also beat the analysts' estimates for the reporting quarter. The markets, however, were unenthused. 

 

Shares of the company, which were up 1% prior to the disclosure of its September quarter earnings, fell a little over a percent, minutes after the results were announced. However, the shares pared some of these losses to close 0.4% lower on the National Stock Exchange at INR 6,855 on Thursday.
 

The company reported a consolidated net profit of INR 13.70 billion, up 24% from INR 11.00 billion in the year-ago quarter. Analysts had forecast a bottom line of INR 14.14 billion for Eicher Motors.

 

Its consolidated revenue for the September quarter stood at INR 61.72 billion, nearly 45% higher than INR 42.63 billion reported in the base quarter. Consensus estimates had pegged the company's top line at INR 60.33 billion.

 

Eicher Motors sold a record-high 327,607 Royal Enfield motorcycles in the September quarter, 45% more than it did in the corresponding period a year ago. The company also sold 21,901 vehicles, 5% higher on year, under the VE Commercial Vehicles brand, its joint venture with Swedish automotive giant Volvo Group.

 

Eicher Motors reported a consolidated earnings before interest, tax, depreciation, and amortisation of INR 15.12 billion, up 39% on year. This is just a little higher than the expectations of INR 15.09 billion.  

 

"The Government of India's GST (goods and services tax) reform has further enhanced accessibility for motorcycles under 350cc, as reflected in the strong customer demand," said B. Govindarajan, Eicher Motors' managing director, and also the chief executive officer of Royal Enfield. "VECV, too, has continued to show steady growth, supported by a robust product portfolio and a deep understanding of India's changing commercial mobility landscape. Our ongoing focus on developing sustainable and efficient transport solutions positions us strongly for the future," Govindarajan said in a press release.
 

VE Commercial Vehicles recorded a profit of INR 2.49 billion for the quarter, up 20% on year. Of this, Eicher Motors' share for the quarter stood at INR 1.35 billion, up 19% on year. The arm reported revenues of INR 61.06 billion, up 10% on year. Its EBITDA grew 8% on year to INR 4.79 billion.

 

"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," the commercial vehicle arm's Managing Director Vinod Aggarwal said in a press release. Aggarwal said the company registered a record high second-quarter deliveries of heavy-duty trucks in the September quarter. VE Commercial Vehicles had a market share of 10.5% in the heavy-duty truck segment.

 

EXPENDITURE PROFILE

Eicher Motors' bottom line growth was restricted by a 12-quarter high growth in its total expenses during the September quarter. The company incurred INR 48.78 billion as total expenses in the reporting quarter, much higher than INR 33.69 billion in the year-ago quarter.

 

Cost of raw materials and components consumed, which form nearly 70% of its overall expenses, grew 42% on year to INR 33.77 billion. Other expenses grew at a rapid 40% on year to INR 7.67 billion while staff costs grew 21% on year to INR 4.18 billion.

 

Eicher Motors' tax outgo for the quarter grew 56% on year to INR 4.10 billion. Based on data available with Informist, this is the highest tax outgo of the company in any quarter since the December quarter of 2014. 

 

For Apr-Sept, Eicher Motors' consolidated net profit grew 17% on year to INR 25.75 billion. Its revenues for the same period grew 30% on year to INR 112.13 billion.  End

 

Edited by Vandana Hingorani

 

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