Eicher Motors Ltd announces Q2FY26, H1FY26 results

Eicher Motors Limited (EML) today announced unaudited consolidated financial results for the quarter ended September 30, 2025, reporting its best ever quarterly performance.

For Q2 FY 2025-26, EML reported its strongest quarterly performance as Revenue from operations surged 45% to ₹6,172 crores in the corresponding quarter of FY 2024-25 while EBITDA grew 39% to ₹1,512 crores and Profit After Tax rose 25% to ₹1,369 crores from ₹1,100 crores last year. Royal Enfield also recorded its highest-ever quarterly sales volume of 3,27,067 motorcycles, up 45% from 2,25,317 motorcycles sold during Q2 FY 2024-25.

VE Commercial Vehicles's (VECV) Revenue from operations in Q2 FY 2025-26 stood at ₹6,106 crores, up 10.3% from ₹5,538 crores. EBITDA for the second quarter rose 8.0% to ₹479 crores, from ₹395 crores a year ago. Profit after tax stood at ₹249 crores as against ₹208 crores last year. VECV recorded sales of 21,901 vehicles in the second quarter, up from 20,774 vehicles last year.

Speaking on Royal Enfield's performance, B. Govindarajan, Managing Director - Eicher Motors Ltd., and Chief Executive Officer - Royal Enfield said, "This has been a truly encouraging quarter for Eicher Motors, as we recorded strong performance across the board for both Royal Enfield and VECV. At Royal Enfield, we have continued to deliver steady growth in volumes while further strengthening our growth story quarter after quarter. We witnessed an outstanding festive season, achieving record sales of 2.49 lakh units. The Government of India's GST reform has further enhanced accessibility for motorcycles under 350cc, as reflected in the strong customer demand. At EICMA, this year, we marked a significant milestone in Royal Enfield's legacy as we entered our 125th year of Pure Motorcycling, a legacy that is built on authenticity, craftsmanship, and an unwavering pursuit of timeless design. From crafting the world's first production motorcycle in 1901 to becoming a global symbol of pure motorcycling, Royal Enfield's journey has been one of evolution anchored in heritage. Our showcase at EICMA this year reflected a perfect blend of past, present and future; ranging from the special edition of our most iconic motorcycle - the Classic 650 to a bigger and bolder Bullet 650, to pushing the boundaries of urban exploration with the Flying Flea S6. VECV, too, has continued to show steady growth, supported by a robust product portfolio and a deep understanding of India's changing commercial mobility landscape. Our ongoing focus on developing sustainable and efficient transport solutions positions us strongly for the future. As we progress, our dedication to long-term value creation remains firm, driven by customer-centric innovation, global aspirations, and meaningful brand experiences at every level."

Speaking on VECV's performance Vinod Aggarwal, MD and CEO - VECV and Vice Chairman - Eicher Motors Ltd. said "VECV delivered a solid performance in Q2 FY26, growing by 5.4% year-on-year and registering our best ever second quarter in terms of truck and bus deliveries. Eicher retained its position as the market leader in Light and Medium Duty Trucks (5-18.5 T GVW), while delivering 10,096 units in the quarter. We continue to make steady progress in the Heavy-Duty trucks segment, recording our best ever second quarter deliveries and a market share of 10.5% during the period. Reflecting our expanding Dealer Network and focus on Customer Service and Uptime, spare parts sales grew 11.8% quarter-on-quarter. Volvo Trucks and Buses continue to dominate their respective segments. During the quarter we launched the Eicher Pro Plus range of medium duty trucks with air-conditioned cabs to conform to legal mandates. Equipped with a unique fuel-efficient compressor technology, these trucks were launched with improvements to loading capacity to deliver a win-win for both operators and drivers. Profit After Tax for the quarter improved to ₹249.3 cr, a growth of 19.7% over the corresponding period last year. GST rationalization has had a positive impact on consumer confidence and consumption. This will in-turn support demand for commercial vehicles in the coming period."

Business updates

Reaffirming its leadership in the mid-size motorcycle segment, Royal Enfield introduced a series of exciting refreshes across its line-up. The Meteor 350 was introduced with enhanced style, comfort, and new features, including LED lighting, navigation, and upgraded elements. The Hunter 350 was launched in a striking new Graphite Grey colourway inspired by urban energy, while the Guerrilla 450 was introduced in a Shadow Ash edition, further strengthening its appeal among city riders. Together, these updates underscore Royal Enfield's continued focus on design, performance, and personalization across its motorcycles.

In a bid to strengthen its connect with the community, Royal Enfield concluded the 14th edition of its marquee global event, One Ride 2025, bringing together over 40,000 riders across 1,500 rides in 60+ countries for a global celebration of camaraderie and Pure Motorcycling. Held on 21st September 2025, the event encouraged riders of all ages and backgrounds to ride together, from Chennai to California, under the theme 'Ride More. Ride Safe. Ride Together.'

Royal Enfield announced the return of Motoverse 2025, its annual celebration of motorcycling culture in Goa, offering an immersive experience for riders, artists, and enthusiasts from around the world. Scheduled from 21-23 November 2025, this year's edition will feature thrilling races, innovations like the Flying Flea, a curated lineup of artists, and some of the finest custom builds created in collaboration with the global custom and craft community. Further deepening its cultural engagement, Royal Enfield announced the fifth season of #ArtOfMotorcycling, themed Cine-Verse, to inspire global creators to reimagine the intersection of art, individuality, and motorcycling.

Shares of Eicher Motors Limited was last trading in BSE at Rs. 6830.80 as compared to the previous close of Rs. 6878.65. The total number of shares traded during the day was 11388 in over 2199 trades.

The stock hit an intraday high of Rs. 6940.60 and intraday low of 6765.00. The net turnover during the day was Rs. 78282897.00.

Source : Equity Bulls

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EicherMotors INE066A01021 Q2FY26 H1FY26 ResultUpdate