Eicher Motors FY26 PAT rises 17% to ₹5,515 crore on record sales
Eicher Motors reported a record PAT of ₹5,515 crore for FY26, a 17% YoY growth, with revenue increasing 24% to ₹23,408 crore. The company announced a ₹958 crore capacity expansion and a new vehicle financing JV with Volvo.
*this image is generated using AI for illustrative purposes only.
Eicher Motors reported its audited consolidated financial results for the quarter and financial year ended March 31, 2026, achieving its highest-ever annual revenue, Profit After Tax (PAT), and EBITDA. The company recorded a PAT of ₹5,515 crores for FY26, a growth of 17% year-on-year, while revenue from operations reached ₹23,408 crores, up 24%. The strong performance was driven by robust sales across its Royal Enfield and VE Commercial Vehicles (VECV) segments, alongside strategic expansion plans and a new joint venture announcement.
Q4 FY 2025-26 Performance
For the fourth quarter, Eicher Motors reported a revenue of ₹6,080 crores, a 16% increase from the corresponding quarter of the previous year. Net profit rose to ₹1,520 crores, while EBITDA stood at ₹1,514 crores. The EBITDA margin expanded to 24.89% from 24% in the year-ago period.
The following table summarises the key Q4 financial metrics against the prior year:
| Metric: | Q4 FY26 | Q4 Prior Year |
|---|---|---|
| Revenue: | ₹6,080 crores | ₹5,240 crores |
| Net Profit: | ₹1,520 crores | ₹1,362 crores |
| EBITDA: | ₹1,514 crores | ₹1,258 crores |
| EBITDA Margin: | 24.89% | 24.00% |
Full Year Financial Highlights
For the full financial year, the company delivered record results across all major financial parameters. The following table presents the consolidated annual performance:
| Metric: | FY26 | FY25 |
|---|---|---|
| Revenue (₹ Crores): | 23,408 | 18,870 |
| EBITDA (₹ Crores): | 5,785 | 4,704 |
| Profit After Tax (₹ Crores): | 5,515 | 4,714 |
Operational Highlights
Royal Enfield recorded its highest-ever Q4 sales of 313,811 motorcycles, a 12% growth over Q4 FY25. For the full year, Royal Enfield sold 1,227,977 units, surpassing 1.2 million units for the second consecutive year, marking a 22% YoY increase. Domestic sales grew 23% to 1,107,343 units, while international volumes increased 20% to 120,634 motorcycles.
VE Commercial Vehicles (VECV) also reported a robust performance with sales of 33,976 vehicles in Q4, up from 28,675 vehicles in the previous year. For FY26, VECV sold 103,404 units, growing 14.7% over FY25, and achieved its highest-ever revenue of ₹27,076.6 crores.
Strategic Developments
The Board of Directors recommended a final dividend of ₹82 per share for the financial year ended March 31, 2026. Additionally, the company announced a significant investment of ₹958 crores for brownfield capacity expansion at its Cheyyar facility to increase annual production capacity from 14.6 lakh units to 20 lakh units. Eicher Motors also marked its entry into the electric mobility space with the launch of the Flying Flea C6.
In a major strategic move, Eicher Motors announced a proposed 50-50 joint venture with Volvo Group to enter the vehicle financing business in India. The company plans to invest up to ₹750 crores for its 50% stake in Volvo Financial Services India, which currently has assets under management of ₹1,806 crores. This JV will serve as the captive financing arm for VECV, Eicher Motors, and Volvo Group products in India.
Historical Stock Returns for Eicher Motors
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.85% | +2.84% | +1.52% | +0.77% | +36.62% | +166.24% |
How will the new joint venture with Volvo Group impact Eicher Motors' market share in the commercial vehicle financing sector?
What is the expected timeline for the completion of the brownfield expansion at the Cheyyar facility?
How will the entry into the electric mobility space with the Flying Flea C6 affect Eicher Motors' competitive position?
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