| Metric | Value (₹ Cr) | Q3 FY26 | Q4 FY25 |
|---|---|---|---|
| Revenue | 6.1K | 0.6% | 16.0% |
| Total Income | 6.4K | 0.3% | 14.4% |
| Expenditure | 4.8K | 0.7% | 14.7% |
| PBT | 1.6K | 0.2% | 13.6% |
| Net Profit | 1.5K | 7.0% | 11.6% |
| OPM | 24.90% | 0.35pp | 0.90pp |
| NPM | 23.63% | 1.61pp | 0.60pp |
| EPS | 55.41 | 7.0% | 11.5% |
Eicher Motors: FY'26 Revenue at ₹23,408 Cr, Up 24% YoY
22 May 2026 · 22 May, 5:34 pm
Summary
Eicher Motors Limited reported a stellar performance for Q4 and the full financial year ended March 31, 2026, achieving its highest-ever revenue, EBITDA, and Profit After Tax. For FY26, revenue from operations surged by 24% to ₹23,408 crores, with PAT growing 17% to ₹5,515 crores. Royal Enfield's annual motorcycle sales surpassed 1.2 million units, marking a 22% YoY increase, while VECV also reported its highest-ever revenue and sales volumes. Management expressed confidence in the company's global ambitions and future growth, underpinned by strategic investments in capacity expansion and entry into electric mobility.
Key Highlights
- 1
Eicher Motors Limited achieved its best-ever annual financial performance in FY26 with Revenues at ₹23,408 crores, a 24% increase year-on-year, EBITDA at ₹5,785 crores, up 23%, and Profit after tax at ₹5,515 crores, marking a 17% growth.
- 2
For Q4 FY26, the company reported Revenue from operations at ₹6,080 crores, a 16% growth from the corresponding quarter, while EBITDA grew 20% to ₹1,514 crores and Profit After Tax rose 12% to ₹1,520 crores.
- 3
Royal Enfield recorded its highest-ever annual sales, surpassing 1.2 million units in FY26, with total volumes reaching 1,227,977 units, a 22% increase year-on-year.
- 4
Royal Enfield also posted its highest Q4 sales of 313,811 motorcycles, a 12% growth over Q4 FY25.
- 5
VE Commercial Vehicles (VECV) reported its highest-ever Revenue from operations of ₹27,076.6 crores, reflecting a 15% growth over last year, and sold 103,404 units in FY26, growing 14.7%.
- 6
The company marked a major milestone in April 2026 with its entry into the electric mobility space through the launch of the Flying Flea C6 and committed significant investments of ₹958 crores for brownfield capacity expansion at Cheyyar and a strategic expansion plan at Tada in Andhra Pradesh.
- 7
A final dividend of ₹82 per share for the financial year ended March 31, 2026, was considered and recommended by the Board of Directors.
Management Comments
B. Govindarajan
FY’26 has been an exceptional year for Eicher Motors and Royal Enfield, marked by strong growth, record volumes, and a continued focus on our global ambitions during our 125th anniversary. We achieved over one million motorcycle sales for the second consecutive year and recorded our best-ever festive season, with record volumes in both domestic and international markets. We also marked a major milestone in April ‘26 with our entry into the electric mobility space via the launch of the Flying Flea C6. International business remains a key priority as we steadily deepen our presence in markets like Brazil. This year, we also took the brand into new cultural spaces - ranging from gaming collaborations to marquee community rides - that strengthen our global identity. To power our next phase of growth, we have committed to significant investments, including the brownfield capacity expansion at Cheyyar with Rs. 958 crores and our strategic expansion plan at Tada in Andhra Pradesh, both aimed at building future-ready capacity to support our long-term projected growth.
B. Srinivas
Crossing the milestone of 1,00,000 vehicles in a year is a significant achievement for VECV and reflects the trust our customers have placed in our products and solutions. This milestone also fulfills a key part of the original vision set at the inception of the Volvo–Eicher joint venture, underscoring the strength and long-term strategic direction of our partnership. During the year, VECV launched several innovative solutions in the rapidly evolving Indian CV Industry -including the Eicher Pro X Small Truck for city distribution,, 12 m Eicher electric intercity coach, electric Tarmac Buses and the Volvo FM LNG Road Train specially designed for long haul logistics. As we move forward, we remain committed to offering class-leading products and solutions to our customers.
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