In This Article:
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Consolidated Revenue (Q4 FY25): INR5,241 crores
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EBITDA (Q4 FY25): INR1,258 crores
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Profit After Tax (Q4 FY25): INR1,362 crores
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Consolidated Revenue (FY25): INR18,870 crores
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EBITDA (FY25): INR4,712 crores
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Profit After Tax (FY25): INR4,734 crores
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Royal Enfield Motorcycle Sales (Q4 FY25): 2,080,801 units, up 23.2% YoY
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Royal Enfield Motorcycle Sales (FY25): 1,002,893 units, up 10% YoY
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Domestic Sales (FY25): 902,757 units, up 8% YoY
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International Volume (Q4 FY25): 30,900 units
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International Volume (FY25): 100,136 units, up 29.7% YoY
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VECV Revenue (Q4 FY25): INR7,139 crores, up 13.8% YoY
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VECV Revenue (FY25): INR23,548 crores, up 7.7% YoY
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VECV EBITDA (Q4 FY25): INR732 crores
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VECV EBITDA (FY25): INR2,030 crores, up 18.4% YoY
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VECV EBITDA Margin (Q4 FY25): 10.5%
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VECV EBITDA Margin (FY25): 8.8%
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VECV Profit After Tax (Q4 FY25): INR457 crores
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VECV Profit After Tax (FY25): INR1,284 crores, up 56.8% YoY
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VECV Sales Units (Q4 FY25): 28,675 units
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VECV Sales Units (FY25): 90,000 units
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Market Share in Light and Medium Duty Trucks: 36%
Release Date: May 14, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Eicher Motors Ltd (BOM:505200) posted a record performance with consolidated revenue of INR5,241 crores and EBITDA of INR1,258 crores for Q4 FY25.
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Royal Enfield achieved a milestone by selling over 1 million motorcycles in a year for the first time in its history.
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VECV delivered more than 90,000 trucks and buses, achieving a revenue of INR23,548 crores for FY25, marking a 7.7% increase from the previous year.
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The company successfully launched six new motorcycles, including the Classic 650 and Gorilla 450, enhancing its product portfolio.
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Eicher Motors Ltd (BOM:505200) has made significant progress in sustainability, with 86% of its plants' electricity coming from renewable sources and achieving net water positivity.
Negative Points
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The company faced a 20 bps impact on gross margins due to higher commodity prices in steel and aluminum.
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There was a 20 bps impact due to inventory provisions for old bikes, which is considered a one-off expense.
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The international market remains cautiously optimistic, with ongoing tariff discussions affecting the North American market.
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Despite strong performance, the EBITDA margin for VECV was at 8.8% for FY25, indicating room for improvement.
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Marketing and event expenses have increased, impacting the overall cost structure, with a noted INR19 crores expense related to distributor liquidation in Europe.