Eicher Motors Ltd delivered a steady set of earnings in the April-June quarter of FY26, driven by strong growth in its Royal Enfield motorcycle and VE Commercial Vehicles (VECV) businesses. The company posted a consolidated net profit of ₹1,205.22 crore, up 9.4% year-on-year from ₹1,101.46 crore in the same period last year.
Total revenue from operations rose 14.8% to ₹5,041.8 crore, compared to ₹4,393.1 crore a year ago, while total income, including other income, stood at ₹5,487.9 crore against ₹4,675 crore in Q1 FY25.
During the quarter, Royal Enfield sold 261,326 motorcycles, up 14.7% from 227,736 units in the year-ago period. International sales surged 65% year-on-year to 36,749 units, as the brand continued expanding its global footprint.
“At Eicher Motors, we’ve had a solid start to the year, with encouraging growth across both Royal Enfield and VECV,” said B Govindarajan, Managing Director, Eicher Motors, and CEO, Royal Enfield. “The refreshed Hunter 350 continues to be a key marker of growth for us, both in terms of volumes and community engagement. We further strengthened our reach in the SAARC region and expanded our portfolio in Nepal with the locally assembled Classic 350.”
Despite the top-line growth, operating performance saw some pressure. Eicher Motors reported an EBITDA of ₹1,202.8 crore, a modest 3.1% increase over ₹1,165 crore a year ago. However, EBITDA margin contracted to 23.8%, down from 26.5% in Q1 FY25, indicating a rise in input and operational costs.
Total expenses climbed 18.9% to ₹4,052.02 crore from ₹3,408.52 crore in the same quarter last year, led by higher raw material and employee costs. Tax expenses also rose marginally to ₹387.77 crore, from ₹339.58 crore in Q1 FY25.
Meanwhile, Eicher’s commercial vehicle arm, VE Commercial Vehicles, sold 21,610 units, up from 19,702 units a year earlier. Revenue rose 11.9% to ₹5,671 crore from ₹5,070 crore, while EBITDA jumped 32.6% to ₹511 crore from ₹385 crore. However, net profit declined 10% year-on-year to ₹157.11 crore.
“VECV reported strong revenue growth and expansion in profit margins linked to better volumes, pricing and cost discipline,” said Vinod Aggarwal, MD and CEO of VECV, and Vice Chairman of Eicher Motors Ltd. “PAT was lower as compared to previous year primarily due to one-off impact in Q1 FY25 linked to deferred tax reversal.”