Eicher Motors Q4 Results Boosted by Royal Enfield
Eicher Motors Q4 Results reported a 23% YoY revenue growth, driven by a 23.2% surge in Royal Enfield (RE) motorcycle volumes, as announced on May 15, 2025.
VE Commercial Vehicles (VECV) recorded an 11.4% YoY volume increase, achieving record sales despite a sluggish industry.
RE’s EBITDA margin contracted by 252.4 bps due to higher marketing and commodity costs.
Export volumes rose 29.7%, supported by new CKD plants in Thailand and Bangladesh.
VECV led the Light and Medium Duty truck segment with a 36% market share.
Despite margin concerns, EML’s stock is fairly valued per SOTP analysis, making it a long-term accumulate candidate, though commodity price risks persist.
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