Conference Call with Eicher Motors Management and Analysts on Q1FY26 Performance and Outlook. Listen to the full earnings transcript.
2/3 Wheeler company Eicher Motors announced Q1FY26 results Revenue from operations at Rs 5,042 crore, up by 14.8% as compared to Rs 4,393 crore in Q1FY25. EBITDA grew 3.2% to Rs 1,203 crore as compared to Rs 1,165 crore in Q1FY25. Profit After Tax was Rs 1,205 crore, an increase of 9.4% as compared to Rs 1,101 crore during Q1FY25. Royal Enfield recorded sales of 261,326 motorcycles, marking a growth of 14.7% from 227,736 motorcycles sold during Q1FY25. Govindarajan, Managing Director, Eicher Motors, & Chief Executive Officer, Royal Enfield said: “At Eicher Motors, we’ve had a solid start to the year, with encouraging growth across both Royal Enfield and VECV. We continue to build consistent momentum in volumes, profitability, and the strength of our overall portfolio. At Royal Enfield, we have sustained our growth momentum in the first quarter, anchored by our continued focus on product innovation, immersive riding experiences, and a deeper expression of pure motorcycling. The refreshed Hunter 350 continues to be a key marker of growth for us, both in terms of volumes and community engagement. Moving ahead on our global ambition, we further strengthened our reach in the SAARC region and expanded our portfolio in Nepal with the locally assembled Classic 350. With a refreshed pipeline of motorcycles and a growing ecosystem of curated rides and culture-first experiences, we are shaping a vibrant and inclusive motorcycling movement. VECV, too, has delivered consistent growth, anchored in a strong product portfolio and a sharp understanding of India’s evolving commercial mobility needs. Our continued investment in sustainable, efficient transport solutions ensures we are well-positioned for the future. As we move forward, our commitment to long-term value creation remains strong — through customer-centric innovation, global ambition, and meaningful brand experiences at every level.” Vinod Aggarwal, MD & CEO, VECV & Vice Chairman, Eicher Motors Ltd. said: “VECV delivered its best?ever first quarter with 21,610 units in Q1FY26 (up 9.7% YoY) and broadened its footprint in a largely flat market. Overall market share improved to 18.7% (vs 17.3% last year), led by continued leadership in LMD trucks (34.5% share) and a strong showing in Buses, where Total Bus volumes grew 14.8% and market share rose to 21.5%. Exports grew by 20.5% over last year. Deliveries of all electric Eicher Pro X in SCV segment (2.0–3.5T) continue to gather momentum. Heavy?Duty volumes were marginally lower reflecting a lower total market despite market share gains. Our connected vehicle solution “My Eicher” now connects 150,000 customers representing 350,000 vehicles. VECV reported strong revenue growth and expansion in profit margins linked to better volumes, pricing and cost discipline. PAT was lower as compared to previous year primarily due to one off impact in Q1FY25 linked to deferred tax reversal.” Result PDF