Royal Enfield to invest ₹1,000 crore in EVs, petrol bikes

The company is also seeking a bigger share of the global mid-weight motorcycle market, which crossed 1 million units in total sales in FY23.

“We are currently working on blocking capabilities with suppliers, working with them to understand our requirements and develop our product,” said B. Govindarajan, Chief Executive Officer, Royal Enfield, after the March quarter results. “We will think later on what capability we keep,” Enfield DNA said. We are committing ourselves. We have laid out a strong product and technology roadmap, we have started engaging in the development cycle with all supply partners on what to do over what timeline and on what product.”

The automaker reported a 48% rise in March quarter net profit over a year ago 905.6 crores. hit a record on quarterly revenue 3,804 crore, up 19.1%, while EBITDA margin climbed 23.3%. 934 crores.

Royal Enfield has been steadily gaining market share in the Indian market for motorcycles above 125cc, reaching close to 30% by FY2023. India’s two-wheeler market is witnessing a dramatic change as buyers are shifting from the entry-level segment. For more premium motorcycles. Royal Enfield sold 214,685 motorcycles in Q4FY23, up 18% from a year ago.

“In FY23, we have crossed the 100,000 mark in exports. For us, I think this is a real inflection point; This starts a virtuous cycle in export markets. We started our Completely Knock-Down Assembly (CKD) operations in Brazil, which has a very high potential market for us, and now takes us to a total of four CKD markets including Argentina, Colombia and Thailand apart from Brazil,” Siddhartha Lal, Managing Director and CEO of Eicher Motors Ltd. said.

As part of its plan to market directly in the UK, Royal Enfield will hire its own dealers instead of distributors. Despite the decline in export volumes in April, the company is expected to outperform the market in terms of international business growth and is betting on good performance of the segment in overseas as well as domestic markets.

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Meanwhile, VE Commercial Vehicles, the commercial vehicle business of Eicher, also reported its highest ever quarterly revenue from operations. 6,200 crore for Q4FY23, a growth of about 44% over the same period last fiscal, when the revenue was 4,307 crores. VECV’s EBITDA up 114.7% from 288 crores 619 crores during the same period.

VECV sold 26,376 units in the quarter ended March 31, a growth of 31.3% as compared to 20,093 units sold during the same period last year.