Eicher Motors Q4 results: Profit up 27%; Royal Enfield sets sales record

Eicher Motors reported record Q4 and FY25 results, with 27% rise in profit, record Royal Enfield sales, and plans to launch its first electric bikes in FY26

Eicher Motors on Wednesday reported a 27 per cent year-on-year (Y-o-Y) rise in consolidated net profit to ₹1,362 crore for the fourth quarter (Q4) of 2024-25 (FY25), driven by launches, an expanded international footprint, and diversification. Total revenue from operations rose 23.15 per cent in Q4FY25, supported by growth in both two-wheeler and commercial vehicle volumes.

 

This was Eicher’s highest-ever Q4 as well as annual revenue. On Wednesday, the company’s stock rose 0.48 per cent to close at ₹5,446.9 apiece on the BSE. The results were announced after market hours.

 

B Govindarajan, managing director (MD), Eicher Motors, and chief executive officer (CEO), Royal Enfield, told reporters: “Eicher posted a record performance this quarter, and the growth momentum continued through the full year, driven by Royal Enfield’s market-leading model launches, expanding international footprint, and electric vehicle (EV) positioning, alongside Volvo Eicher Commercial Vehicles’ (VECV’s) record truck, bus and parts sales, supported by product expansion and localisation.”

 

 

On the export front, Royal Enfield remains cautiously optimistic for 2025-26 (FY26), despite dynamic global tariff conditions. In key markets such as the US, the company has proactively stocked pre-tariff motorcycles to ensure uninterrupted availability for the current season. Strategic investments continue in international markets, with Royal Enfield crossing the 100,000-unit export milestone last year.

 

The company is expanding its presence in Brazil with additional completely knocked down (CKD) operations, while in Thailand, it has set up a CKD plant to improve proximity to customers and benefit from trade agreements. The focus remains on driving absolute growth in earnings before interest, tax, depreciation, and amortisation, rather than margin percentages, with ongoing investments in product upgrades and feature enhancements.

 

For FY25, Eicher’s consolidated net profit rose 18.3 per cent to ₹4,734.4 crore. Revenue from operations grew 14.1 per cent to ₹18,870.3 crore.

 

Siddhartha Lal, chairman, Eicher Motors, said: “In the motorcycle business, the middleweight segment (250–750 cc) saw a lot of action, as Royal Enfield sold 1 million motorcycles annually for the first time in its history. At VECV, too, we saw record-breaking volumes and a strong performance despite challenging market conditions.”

 

This quarter, Royal Enfield recorded its highest-ever quarterly sales, selling 280,801 motorcycles — a 23.2 per cent Y-o-Y increase.

 

For FY25, Royal Enfield crossed the 1 million mark in annual sales for the first time. Total volumes stood at 1,002,893 units, marking a 10.0 per cent Y-o-Y increase. Domestic sales rose 8.1 per cent to 902,757 units, while international volumes jumped 29.7 per cent, with 100,136 motorcycles exported.

 

The company revealed that Royal Enfield’s electric sub-brand, Flying Flea, will enter the market in Q4FY26. Developed as the brand’s first step into electric mobility, Flying Flea will focus on lightweight, urban-centric motorcycles that blend timeless design with modern technology. The initial lineup will include two models — C6 and S6 — scheduled for launch in Q4FY26.

 

Backed by a team of over 450 engineers, the electric platform is designed to evolve across multiple form factors. Flying Flea will remain part of Royal Enfield rather than being spun off, with retail strategies — including existing dealerships, direct-to-consumer models, and new formats — currently under evaluation. Royal Enfield first unveiled the Flying Flea at EICMA 2024.

 

VECV reported revenue from operations of ₹23,548 crore, a 7.7 per cent Y-o-Y increase. It sold 90,000 units in FY25, registering 5.4 per cent Y-o-Y growth.

 

Vinod Aggarwal, MD and CEO of VECV, said: “VECV continued to outperform a nearly flat industry in FY25. We closed the year as a market leader in the Indian 5–18.5 tonne light and medium-duty truck segment and recorded our highest-ever deliveries across key business verticals.”

 

Eicher Trucks & Buses entered the small commercial vehicle segment with the launch of the Eicher Pro X range of electric-first small trucks. Volvo Trucks introduced India’s first FM Road Train — a tractor unit towing two or more trailers. Both Volvo and Eicher began deliveries of liquefied natural gas-powered trucks. Eicher Trucks & Buses also expanded its EV offerings during the year.