Earnings Review
Eicher Motors Q4 PAT, revenue YoY growth hits 3-quarter low
This story was originally published at 18:34 IST on 22 May 2026
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--Eicher Motors Jan-Mar consol net profit INR 15.20 bln
--Analysts saw Eicher Motors Jan-Mar consol net profit at INR 14.39 bln
--Eicher Motors Jan-Mar consol revenue INR 60.80 bln
--Analysts saw Eicher Motors Jan-Mar consol revenue at INR 59.41 bln
--Eicher Motors Jan-Mar consol PAT INR 15.20 bln vs INR 13.62 bln yr ago
--Eicher Motors Jan-Mar consol sales INR 60.80 bln vs INR 52.41 bln yr ago
--Eicher Motors to pay INR 82 per share final dividend
--Eicher Motors Q4 profit share from JV VE CV INR 3.23 bln vs INR 2.48 bln
--Eicher Motors FY26 consol PAT INR 55.15 bln vs INR 47.34 bln yr ago
--Eicher Motors FY26 consol sales INR 234.08 bln vs INR 188.70 bln yr ago
--Eicher Motors Jan-Mar consol EBITDA INR 15.14 bln, up 20% on year
--Eicher Motors FY26 VE CV revenue INR 270.77 bln, up 15% on year
--Eicher Motors FY26 VE CV EBITDA INR 25.63 bln
By Anand JC and Ashutosh Pati
MUMBAI – Royal Enfield motorcycle maker Eicher Motors Ltd. reported its weakest year-on-year growth in profit and revenue in the last three quarters in Jan-Mar. While the company's revenue beat Street estimates, net profit did not.
The company reported a consolidated net profit of INR 15.20 billion for the March quarter, up 12% on-year and 7% on-quarter. Net profit in the March quarter was below the projection of INR 14.39 billion.
Its consolidated revenue from operations for the quarter was INR 60.80 billion, up 16% on-year but down marginally from a quarter ago. Eicher Motors' top line for the March quarter was higher than expectations of INR 59.41 billion.
Eicher Motors' total expenses for the March quarter grew almost 15% on-year to INR 48.18 billion, the slowest year-on-year rise in the company's costs in the last six quarters.
Eicher Motors' cost of raw materials and components consumed surged almost 19% on-year but fell marginally on-quarter to INR 31.92 billion. This was the slowest on-year growth in its input costs in the last three quarters, despite the surge in commodity costs in recent months. The company's tax expenses grew 36% on-year and almost 12% on-quarter to INR 4.17 billion.
Eicher Motors' consolidated earnings before interest, taxes, depreciation, and amortisation rose 20% to INR 15.14 billion in the March quarter. The company's profit share from the joint venture VE Commercial Vehicles rose to INR 3.23 billion in the March quarter, up from INR 2.48 billion a year ago.
For 2025-26 (Apr-Mar), the company reported a consolidated profit of INR 55.15 billion, up 16% on year. Its revenue for the year increased 24% to INR 234.08 billion.
The company said it will pay a final dividend of INR 82 per share. VE Commercial Vehicles reported a record revenue of INR 270.77 billion in FY26, up 15% on year. Its EBITDA was INR 25.63 billion for the year.
Friday, Eicher Motors' shares closed 1.3% higher at INR 6,981.50 on the National Stock Exchange. The company declared its March quarter results after market hours. End
Edited by Saji George Titus
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