Q1-FY24 · Siddhartha Lal
We've had an absolutely stellar start to this new financial year. We've had a great Quarter One, and have registered our best ever performance for the fourth consecutive quarter now.
Eicher Motors · tone and specificity signals across the available quarters.
Language signals
We've had an absolutely stellar start to this new financial year. We've had a great Quarter One, and have registered our best ever performance for the fourth consecutive quarter now.
We are not focused on competition because we are focused on customers. We are seeing what's in their best interest, what gets them motivated, what gets them excited.
We have a slew of new products which are very differentiated, which will give a very differentiated experience for our consumers.
Our fundamental belief is we can grow the market, and we feel here is a fantastic platform which we have created.
We are not a company wherein we'll put the capital in and wait for it. We'll always be looking at and how the response and how do we actually enhance the capacity.
I think it would take a braver person than me to predict commodity prices right now.
Growth is the focus. I think percentages, in fact, I don't want to even process it because that's not the way the organization should think. Absolute profit, absolute growth number, absolute EBITDA, that's what is the understanding.
We have cracked the code of the modular capacity enhancement, and we will go in that way for any capacity enhancement in the future.
The brand track study says we are way ahead of the rest of the brands. If the buoyancy comes in in the market and the kind of activities which I was mentioning with the new products, our floor funding which we are doing... all those things are the pointers which are showing that, yes, our growth trajectory which we wanted to work on is working.
This is a game changer, this new Himalayan. It's a very, very, very strong motorcycle from our side and has the potential to be a world beater.
We are not a company, we will be very fast. We are a long-term industry. We don't do anything here and now.
We will be premium, we will not be mass, we will do very interesting things, bikes that have huge desire.
We are not chasing perfect margin, but I'm absolutely absolute margin. We're happy, and the trajectory is quite okay.
The desire is back. There is an interest, which I'm just seeing once again with a lot of positivism, and that's why the brand is actually now vibrant once again.
We are approaching EV with the same singularity focus and unconventionality with which we have grown the global mid-size market in the IC world.
We are looking at an absolute profit, and that's the focus. We want to continue to grow. Growth has to come in from absolute profitability, not on the percentage.
The GST rate rationalization, EV demand held firm through the extended monsoon period, and is poised to improve further in H2 as project executions pick up.
We have been appealing to the government. We will continue to engage with the agencies for lowering the GST rate.
We have had our seventh consecutive quarter marking highest-ever revenue for EML at INR 4,179 crores.
We don't believe in participating just for the sake of getting the numbers. So if there is profitability, reasonable profitability, only then we participate.
We have already sold almost about 6,500 numbers of this motorcycle [Himalayan 450].
Our retail has grown almost about 19%.
We are a growth-focused company. All the products which we are launching, we are actually adding value back to the products. We haven't increased the pricing.
We are very positive that the commercial vehicle industry next year should do better.
We delivered over best ever festive performance, selling over 249,000 motorcycles during September and October.
The medium-term CV outlook remains constructive, supported by infrastructure development, stable financing, and domestic manufacturing push.
We are not taking aggressive price increase and focus continues to be on growth. But wherever we are finding significant sharp commodity movement, we are taking on a case-to-case basis.
We've had an absolutely stellar year at Eicher Motors with consistent and solid growth through the year, and we've grown from strength to strength each quarter and making new milestones in business and financial performance.
We are a long-term aggressive company. We don't do anything short-term, which I always say.
We are also kind of increasing share. The international market coming back will also obviously have a bit of a flow through as far as our profitability is concerned.
We have crossed 1 million motorcycles, which is in the history of Royal Enfield.
Our focus is on absolute growth and absolute gross profit growth, not necessarily on percentages.
We are cautiously optimistic about the international market.