GST hike on 450cc/650cc motorcycles may dampen demand
Post-GST hike to 40%, 450cc and 650cc sales have slowed; recovery is slower for 450cc. Management is engaging with government for rate reduction.
medium · management_commentaryEicher Motors Limited — Q2 FY26
Eicher Motors delivered a record Q2 FY26 with consolidated revenue of ₹6,172 crore (+45% YoY) and EBITDA of ₹1,512 crore (+39% YoY), driven by strong Royal Enfield volumes (327,...
bullish
high
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Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
Commodity cost inflation pressuring margins
Raw material costs increased ~40bps due to precious metals and aluminum alloys. Management is using value engineering to mitigate, but headwinds persist.
medium · management_commentaryHeavy-duty truck demand remains sluggish
VECV's HD truck volumes grew only 3.5% in Q2, with industry growth impacted by rail freight migration and higher truck productivity. H2 recovery is uncertain.
medium · analyst_question