Eicher Motors Ltd (BOM:505200)

Q1 2027 Eicher Motors Ltd Earnings Call Transcript

Jul 29, 2026 / 01:30PM GMT

Release Date Price: ₹7781.4 (-0.74%)

Transcript

Key Points

Positve

Eicher Motors Ltd (BOM:505200) reported its highest ever Q1 revenue of INR6,632 crores, marking a 52% growth over the previous year.
Royal Enfield registered its highest ever quarterly sales, with 3,32,940 motorcycles sold, indicating strong market demand.
The company launched its first electric motorcycle, the Flying Flea C6, marking a significant milestone in its electric mobility strategy.
VECV achieved a record sales of 24,815 units, reflecting a 14.8% growth and strengthening its leadership in light- and medium-duty trucks.
Eicher Motors Ltd (BOM:505200) announced a strategic expansion of its manufacturing capacity with a new greenfield facility, aiming to produce an additional 4.5 lakh motorcycles per year.

Negative

Despite strong sales, the EBITDA margin for VECV decreased to 8.4% from 9.2% last year, indicating pressure on profitability.
The company faced challenges such as LPG shortages and manpower issues, which required adjustments in operations.
There was a significant impact from commodity cost inflation, affecting gross margins despite price hikes.
The international markets, particularly in Europe and APAC, faced macroeconomic uncertainties, impacting sales growth.
Inventory levels were low at about 10 to 12 days, which could pose challenges in meeting demand during the festive season.

Operator

Ladies and gentlemen, good day, and welcome to the Q1 FY27 earnings conference call of Eicher Motors Limited, hosted by PhillipCapital India. (Operator Instructions)

I now hand the conference over to Mr. Amit Hiranandani from PhillipCapital India. Thank you, and over to you, Mr. Hiranandani.

Amit Hiranandani;India;Pvt Ltd;Analyst

PhillipCapital

()-

Thanks, Fazal. Good evening, everyone. On behalf of PhillipCapital India I welcome you all to Eicher Motors Q1 FY27 Earnings Conference Call. I take this opportunity to welcome the management team from Eicher Motors Limited. Today, we have with us Mr. B. Govindarajan Managing Director, EML; and CEO of Royal Enfield, and Mr. B. Srinivas, MD and CEO of VECV and Ms. Vidhya Srinivasan, Chief Financial Officer.

Now I hand it over to the management for their opening remarks. Thank you, and over to you, sir.

Vidhya Srinivasan

Eicher Motors Ltd - Chief Financial Officer

Thank you. Hello, everyone. Good evening.

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