Eicher Motors Ltd.Record Year with Robust Expansion Plans

Eicher Motors delivered a stellar Q4 FY26 with consolidated revenue reaching ₹6,080 crores, EBITDA at ₹1,514 crores, and PAT of ₹1,520 crores.

For the full year FY26, Royal Enfield achieved record sales of 12.27 lakh units, its second consecutive year above one million, with domestic sales surging 23% YoY to 1.1 million units and international volumes growing 20%. VECV crossed the one lakh unit milestone for the first time, selling 1,03,404 units. Combined revenue for EML and VECV exceeded ₹50,000 crores. Management announced a capacity expansion roadmap from 1.4 million to 1.6 million units by July 2026 and 2 million by Q2 FY28 through a ₹958 crore Cheyyar brownfield expansion.

Additionally, the company is investing up to ₹750 crores for a 50% stake in a vehicle financing joint venture with Volvo Group. Despite facing 3-3.5% commodity inflation in Q1 FY27, management remains confident with 23% inquiry growth, maintaining structural demand strength and premiumization trends. April 2026 sales grew 51% YoY, signaling strong FY27 momentum. The Board recommended a final dividend of ₹82 per share.