Between January and March 2022, Eicher Motors saw a profit after tax (PAT) of Rs. An increase of 16 per cent as compared to Rs 610 crore. 526 crore profits achieved during the same period in FY 2021.
see photosEicher Motors posted highest ever revenue of Rs. 3,193 crore, up 8.6 per cent
Royal Enfield’s parent company Eicher Motors Limited (EML) has released its financial results for the fourth quarter of FY 2021-22. Between January and March 2022, the company saw a profit after tax (PAT) of ₹610 crore, an increase of 16 per cent compared to the profit of ₹526 crore it achieved during the same period in FY21. During the quarter ended March 31, 2022, Eicher Motors reported an all-time high revenue of Rs 3,193 crore, registering a growth of 8.6 per cent, as compared to Rs 2,940 crore in the corresponding quarter of FY 2020-21. The company’s motorcycle brand, Royal Enfield sold 182,125 units in the same time period, a drop of 10 per cent in FY21 as compared to 203,343 motorcycles sold during the same period.
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For the full financial year, during the period April 2021 to March 2022, Eicher Motors’ PAT stood at ₹ 1,677 crore, 24.5 per cent higher than profit of ₹ 1,347 crore achieved for the same period last year. The company’s total revenue from operations was at an all-time high of Rs 10,298 crore, up 18.1 per cent as compared to Rs 8,720 crore recorded for FY 2020-21. The company claims that the growth was aided by Royal Enfield’s strong performance in the international markets.
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Between April 2021 and March 2022, Eicher Motors’ PAT stood at ₹ 1,677 crore, 24.5 per cent higher than profit of ₹ 1,347 crore achieved in the corresponding period of the previous year.
Talking about the full year performance of Eicher Motors, Siddharth Lal, Managing Director, Eicher Motors Ltd. said, “Last year was very significant for Eicher Motors Ltd., as we have made considerable progress towards our long-term strategic business vision. Over the past eight years, we have made concerted efforts to become a premium, global player, focusing on some of the toughest motorcycle markets in the world, with our overseas presence and ambition to grow the business sustainably. With a strong product strategy and process through development and with a focused business approach, we have carved a niche for ourselves globally. During the year, the growth story of our international markets grew by over 100 percent We have shown great performance with our company as we continue to deliver consistent results in the domestic market.”
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For the financial year ended March 31, 2022, Volvo Eicher Commercial Vehicles (VECV) registered a growth of nearly 47 per cent in its revenue to ₹ 12,724 crore as against ₹ 8.676 crore in FY21 . The company saw almost 2 times growth in profit of ₹ 111 crore as compared to profit of ₹ 57 crore seen in FY 2021. Between April 2021 and March 2022, the company sold 57,077 vehicles, a growth of 38 percent as compared to 41,268 vehicles sold in FY 2020-21.
During the last financial year, Royal Enfield also added two new models to its portfolio – the new-gen Classic 350 and the Himalayan scram 411.
Royal Enfield strengthened its global presence by adding two new local assembly units in Colombia and Thailand. The company already has a CKD unit in Buenos Aires, Argentina. Apart from meeting the requirements of the local market, the assembly units are designed to act as the nodal hub for all other countries in Latin America and South-East Asia. Royal Enfield expanded its international footprint and commenced operations in Singapore and the Netherlands with the launch of standalone, flagship stores, and is now present in over 60 countries around the world.
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During the last financial year, Royal Enfield also added two new models to its portfolio – the new-gen Classic 350 and the Himalayan Scrum 411. Talking about the former, Siddharth Lal said, “Since its launch in 2008, the Royal Enfield Classic 350 has been the most popular motorcycle in our portfolio, and this year we saw the transition of Classic to the all-new J-Series platform. The new launch has been a huge success and the Classic continues to be the highest sold motorcycle in the middleweight segment in India.”
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Eicher Motors has also announced the appointment of B Govindarajan as the new CEO of Royal Enfield and Whole Time Director of EML. Since August 2021, Govindarajan is serving as the Executive Director of Royal Enfield. He was previously the Chief Operating Officer at RE since 2013.
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