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View Risks →Eicher Motors Limited — Q1 FY24
Eicher Motors delivered a stellar Q1 FY24, with consolidated revenue of ₹3,986 crore (+17% YoY), EBITDA of ₹1,021 crore (+23% YoY), and PAT of ₹918 crore (+50% YoY).
bullish
high
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Eicher Motors delivered a stellar Q1 FY24, with consolidated revenue of ₹3,986 crore (+17% YoY), EBITDA of ₹1,021 crore (+23% YoY), and PAT of ₹918 crore (+50% YoY). EBITDA margin expanded 110 bps to 25.6%, driven by price hikes and sourcing savings. Royal Enfield sold 225,000+ motorcycles (+21% YoY), led by the Hunter 350, which crossed 200,000 units in 11 months. VECV posted record Q1 sales across segments, with total revenue of ₹4,991 crore (+27% YoY). Management remains confident in demand, citing strong retail trends and festive season optimism. However, export markets remain weak due to macro headwinds, and competitive launches in the mid-size segment could pressure market share over time.
ईचर मोटर्स ने पहली तिमाही में शानदार प्रदर्शन किया। कंपनी की कुल कमाई 3,986 करोड़ रुपये रही, जो पिछले साल से 17% ज्यादा है। कंपनी ने 1,021 करोड़ रुपये का मुनाफा कमाया (23% ज्यादा) और शुद्ध मुनाफा 918 करोड़ रुपये रहा (50% ज्यादा)। कीमतें बढ़ाने और लागत बचाने से मुनाफे की दर 25.6% हो गई। रॉयल एनफील्ड ने 2.25 लाख से ज्यादा बाइक बेचीं, जिसमें हंटर 350 की बिक्री 11 महीने में 2 लाख पार कर गई। वीईसीवी ने भी रिकॉर्ड बिक्री की। कंपनी को आगे भी अच्छी मांग की उम्मीद है, लेकिन विदेशों में बिक्री कमजोर है और नई प्रतिस्पर्धा से बाजार हिस्सेदारी पर दबाव पड़ सकता है।
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Read Transcript →Quarter Snapshot
Royal Enfield motorcycle sales
225,000+
+21% YoY
Record quarterly sales driven by strong domestic demand and Hunter 350 momentum.
VECV heavy-duty truck sales
5,166 units
+29% YoY
Highest ever Q1 sales, with market share of 9.4%.
VECV light & medium-duty truck market share
36.9%
+570 bps YoY
Gained significant share from 31.2% in Q1 last year.
Finance penetration (domestic)
60%
growing
Finance penetration has been increasing, supporting demand.
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Management confirmed a price increase of about 1.5% on certain models in the domestic market during Q2 FY24.
International markets remain under pressure due to macroeconomic headwinds, with VECV exports down 58% YoY and Royal Enfield exports also weak.
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