New launches and steady sales from Royal Enfield including Guerrilla 450 and VECV power Eicher Motors’s string earnings performance for Q1. Its Q1FY25 revenue from operations came in at Rs 4,393 crore, up 10.2% from Rs Q1FY24 revenue from operations at Rs 3,986 crore. The Q1FY25 Profit after Tax came in at Rs 1,101 crores, up nearly 20% Rs 918 crore in Q1FY24.
During the quarter, Royal Enfield recorded sales of 2,27,736 motorcycles as compared to 2,25,368 motorcycles sold during the same period in FY24. Meanwhile VECV recorded sales of 19,702 vehicles for Q1FY25 over 19,571 vehicles in the same quarter last fiscal. VECV’s Revenue from operations for Q1FY25 came in at Rs 5,070 crores, up by 1.8% over the previous year’s revenue of Rs 4,980 crores. Q1 Profit after tax stood at Rs 319 crores from Rs 181 crore last year.
Commenting on Eicher Motors’ performance, Siddhartha Lal, Managing Director, Eicher Motors said, “After a strong performance in FY24, we have started this year on a confident note, registering our best ever quarterly financial performance with both Royal Enfield and VECV reporting steady growth. At Royal Enfield, we launched the Guerrilla 450, our premium, modern roadster on the Sherpa platform. We believe the Guerrilla is a formidable motorcycle with strong potential and will be a gamechanger in the category. We have a robust product calendar for the rest of the year as well, and are getting ready to
launch the 2024 Classic very soon. Meanwhile, VE Commercial Vehicles recorded its best ever first-quarter sales, gaining volumes in key segments, and reflecting its commitment to excellence and customer satisfaction.”
Speaking on Royal Enfield’s performance, B. Govindarajan, CEO – Royal Enfield and Wholetime Director, EML said, “Our diverse product range has strengthened our position in the mid-size segment across the globe. This quarter has been particularly notable for our performance in the international markets. We have launched Himalayan 450 across APAC, EU, UK, and Mexico. We announced ‘Borderless Warranty Program’ providing riders with warranty coverage across 70+ countries. We remain focused on innovation and excellence, driving forward with a commitment to delivering extraordinary experiences to riders around the world.”
Royal Enfield introduced the Guerrilla 450 – a premium modern roadster in Q1 and backed by its network of over 3,000+ authorized service touch points in 70+ countries, Royal Enfield introduced the ‘Borderless Warranty Program’ for the riding enthusiasts. Royal Enfield also introduced ‘Rentals and Tours’ across 25 countries, offering a comprehensive solution for
motorcycle travelers through access to rentals, guided tours, and trip assistance across 32 destinations including India, South Africa, Indonesia, Colombia, Turkey, France, Scotland, Spain, and Namibia.
Speaking on VECV’s performance Vinod Aggarwal, MD and CEO VECV said “VECV delivered its highest ever first quarter sales during Q1 FY25 growing 0.7% over Q1 FY24. We took a significant step this quarter by forming a JV with iTriangle Infotech to develop next-gen surround services related to transportation business – building on our industry leading connected vehicle ecosystem. We also continued to deliver new products and variants in line with developments in the
industry. During the quarter, margins remained under pressure due to a competitive market situation.”
