Eicher Motors Limited · NSE:EICHERMOT
Eicher Motors — Q1 FY2026 Earnings Presentation
67 slides from Eicher Motors's earnings presentation, Jul 31, 2025
Slide 1: Regulation 30 investor presentation filing letter
July 31, 2025 Online intimation/submission The Secretary The Secretary BSE Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot No.C/1, Dalal Street G Block, Bandra Kurla Complex, Bandra (E) Mumbai-400 001 Mumbai-400 051 Security Code: 505200 Symbol:
Slide 2: Eicher Motors Q1 FY 2026 Investor Presentation
EICHER MOTORS LTD Q1 FY 2026 INVESTOR PRESENTATION July, 2025
Slide 3: Safe Harbour Statement
SAFE HARBOUR STATEMENT All statements included or incorporated by reference in this presentation, other than statements or characterisations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates, and projections about ou
Slide 4: Contents
CONTENTS 1. EML Overview 2. Royal Enfield ● Company Overview ● India Business ● International Business ● Non-Motorcycle Business ● Operations Overview ● Brand ● Sustainability 3. JV Update - VECV 4. Financial Review INVESTOR PRESENTATION July 2025
Slide 5: Group Structure - Eicher Motors Ltd
GROUP STRUCTURE - EICHER MOTORS LTD Promoter Foreign Institutional Domestic Institutional Group Investors Investors Others 49.1% 26.1% 15.8% 9% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Eicher Motors Limited (EML) Joint Venture Business Unit 45.6% 54.4% Royal Enfield (RE) Royal Enfield Royal Enfield
Slide 6: EML Board
EML BOARD Siddhartha Lal B. Govindarajan Vinod K. Aggarwal Inder Mohan Singh Executive Chairman, EML Managing Director, EML & Vice Chairman (Non Executive), Independent Director CEO, Royal Enfield EML and MD & CEO of VECV Ira Gupta S Madhavan Tejpreet Chopra Arun Vasu Independent Director Independent
Slide 7: Royal Enfield Ride. Ride More. Ride Pure.
ROYAL ENFIELD RIDE. RIDE MORE. RIDE PURE. INVITE NUDGE ALLY people to experience the owners to never lose track of their journey with riders in their lifelong pursuit to joy of motorcycling. of self discovery. charter new courses of exploration. INVESTOR PRESENTATION July 2025
Slide 8: Our Journey
OUR JOURNEY SINCE 1901
Slide 9: Royal Enfield history 1901-1948
1901 1939 The first Royal Enfield motorcycle is Royal Enfield produces large quantities of produced. Designed by Bob Walker Smith and military motorcycles, bicycles, generators Frenchman Jules Gobiet, it is launched at the and anti-aircraft gun predictors during the Stanley Cycle Show in London. The 1
Slide 10: Royal Enfield history 1955-2008
1955 1977 The Redditch company partners Madras Enfield India begins exporting the 350cc Motors in India to form 'Enfield India'. Work Bullet to the UK and Europe. Sales grow commences on the construction of a rapidly as the bike develops a following purpose-built factory at Tiruvottiyur, near amongst
Slide 11: Royal Enfield history 2013-2018
2013 2017 The first Royal Enfield motorcycle rolls out Production commences at Royal Enfield’s of the new Oragadam plant near Chennai. third manufacturing facility- a new In the same year, Royal Enfield rolls out the state-of-the-art factory at Vallam Vadagal, all-new Continental GT, a motorcycle built
Slide 12: Royal Enfield history 2020-2022
2020 2021 Royal Enfield commences the local assembly In its 120th year, Royal Enfield re-envisions of motorcycles in Argentina, Royal Enfield’s its iconic motorcycle, the Classic. The local distributor in the country since 2018. sublime beauty and confidence of the Classic This is the first time in Royal
Slide 13: Royal Enfield history 2023-2024
2023 2024 Built by the Himalayas, with the capability, Inspired by custom, for custom, this versatility and ability to go anywhere from motorcycle is a shapeshifting mutant rocky roads to city streets. The all-new designed to be a canvas of self expression Himalayan is equipped with a more robust fo
Slide 14: Our Mission
OUR MISSION
Slide 15: Pure Motorcycling
Pure A fundamental experience of life, authentic and real. Connecting at a sensorial level with your innermost self and your surroundings. Not being dependent on approval or endorsement from others. Steering clear of the artificial, the superficial, the superfluous and the contrived. Motorcycling Motor
Slide 16: Rebalance: Long Term Strategic Vision
REBALANCE: LONG TERM STRATEGIC VISION 1. ICE and EV 3. Brand Led CX Brand led Customer Experience Balance EV as a game changer versus transactional focus along with ICE products 2. Growth Focus 4. Sustainability Balance Social & Commercial Balance Growth & Profitability objectives CREATE AN AGILE, RE
Slide 17: Strong Management Team
STRONG MANAGEMENT TEAM Siddhartha Lal B. Govindarajan Mark Wells Mohit Dhar Jayal Mahesh Tripathi Executive Chairman, EML MD, EML and CEO, Royal Chief of Design Chief Brand Officer Chief Operations Officer Enfield Yadvinder S. Guleria Vidhya Srinivasan Rajeev Sharma Sudhakar Bhagavatula Mario Alvisi
Slide 18: Expansive Product Portfolio
EXPANSIVE PRODUCT PORTFOLIO Engine Platform Heritage Roadster Scrambler Adventure Cruiser Retro Sport 650 cc Twin cylinder Interceptor INT650 Super Meteor 650 Continental GT650 Classic 650 Bear 650 Air-oil cooled 47 PS | 52.4 N-m Shotgun 650 450 cc Single cylinder Liquid cooled 39.4 PS | 40 N-m Hima
Slide 19: Awarded & Acclaimed
PREMIUM MOTORCYCLE OF THE Motorcycle upto 350cc MCN RETRO BIKE OF THE Cruiser of the year YEAR 2025 - Motoring world Award 2023 - bike india awards YEAR 2019 - MCN AUSTRALIA 2024 - Motoring world awards BIKE OF THE YEAR 2024 - Autocar NZ internationally Manufacturer of the year Retro bike of the yea
Slide 20: India Business
INDIA BUSINESS
Slide 21: Royal Enfield Leads the Mid-Size Industry in India
ROYAL ENFIELD LEADS THE MID-SIZE INDUSTRY IN INDIA Himalayan 450 | Shotgun 650 New Bullet 350 Guerrilla 450 650cc Twins Bear 650 | Classic 650 INT 650 / GT 650 Hunter 350 Goan Classic 350 Super Meteor 650 Launch of 411 Himalayan OG New Classic 350 Scram 411 Meteor 350 Motorcycle Volumes (‘000) Conti
Slide 22: Gaining Market Share in Domestic Motorcycles
GAINING MARKET SHARE IN DOMESTIC MOTORCYCLES 31.1% 7.9% 15.5% 3.0% INVESTOR PRESENTATION 21 July 2025
Slide 23: Expansive Premium Dealership Network
EXPANSIVE PREMIUM DEALERSHIP NETWORK Royal Enfield expanded its pre-owned motorcycle Royal Enfield currently ranks #2 in the FADA Dealer business, RE Own to 230+ cities across India. Satisfaction Survey 2024 INVESTOR PRESENTATION 22 July 2025
Slide 24: International Business
INTERNATIONAL == BUSINESS
Slide 25: Royal Enfield Global Footprint
ROYAL ENFIELD GLOBAL FOOTPRINT UK India Canada Subsidiary Tech Center Bangladesh Subsidiary Tech Center Manufacturing CKD Vietnam Cambodia APAC Japan North America Subsidiary Brazil CKD South Korea & Brazil Subsidiary` Thailand CKD Mexico (Dis) & Thailand Subsidiary Colombia CKD Malaysia (Dis) Nepal
Slide 26: Gaining Market Share in Global Mid-Size Market
GAINING MARKET SHARE IN GLOBAL MID-SIZE MARKET Americas Market Share^ APAC Market Share EMEA Market Share 8% 9% 9% Prestigious Brands of Asia 2025 Award in the “Mid Size Segment Motorcycles” category INVESTOR PRESENTATION 25 July 2025
Slide 27: Revenue from International Business
REVENUE FROM INTERNATIONAL BUSINESS International Business – Stellar growth in revenues from International business New Thailand Assembly plant Inauguration INVESTOR PRESENTATION 26 July 2025
Slide 28: Spares and Service
SPARES AND SERVICE No.1 After Sales Score - FADA SURVEY, 2023 INVESTOR PRESENTATION 27 July 2025
Slide 29: Genuine Motorcycle Accessories
GENUINE MOTORCYCLE ACCESSORIES INVESTOR PRESENTATION 28 July 2025
Slide 30: Non-Motorcycle Business Growing in Size and Reach
NON-MOTORCYCLE BUSINESS GROWING IN SIZE AND REACH Non-Motorcycling Business Revenue (Includes Spare parts, Service, Accessories & Apparel) Comfort INVESTOR PRESENTATION 29 July 2025
Slide 31: Apparel Announcements
APPAREL ANNOUNCEMENTS Conscious Collection Urban Outerwear Launch As part of its sustainability commitment, Royal Royal Enfield expanded its lifestyle and apparel Enfield launched the Conscious Collection—an portfolio with the launch of the Urban Outerwear apparel line made from recycled cotton, Himal
Slide 32: Operations Overview
OPERATIONS OVERVIEW
Slide 33: Production Facilities
PRODUCTION FACILITIES THIRUVOTTIYUR VALLAM Custom operations 600,000 motorcycles per annum capacity ORAGADAM CHEYYAR 600,000 motorcycles per annum capacity Chrome plating and adjunct operations INVESTOR PRESENTATION 32 July 2025
Slide 34: CKD Assembly Plants
CKD ASSEMBLY PLANTS THAILAND BRAZIL BANGLADESH NEPAL ARGENTINA COLOMBIA
Slide 35: Global R&D Centers for Product Development
GLOBAL R&D CENTERS FOR PRODUCT DEVELOPMENT BRUNTINGTHORPE, UK CHENNAI, INDIA ▪ The India tech centre has the engineering and design teams ▪ UK Tech Centre at Bruntingthorpe is a hub for the product working under one roof and houses state-of-the-art engine, development and research activities for mid
Slide 36: Brand: Launches, Campaigns & Collaborations
BRAND LAUNCHES, CAMPAIGNS & COLLABORATIONS
Slide 37: Royal Enfield Unveils 2025 Hunter 350 at Hunterhood Festival
ROYAL ENFIELD UNVEILS 2025 HUNTER 350 AT HUNTERHOOD FESTIVAL Royal Enfield unveiled the 2025 Hunter 350 at its debut street culture festival, HunterHood, held in Mumbai and Delhi. The upgraded urban roadster comes with new colourways, better ergonomics, and advanced features. The launch garnered 386
Slide 38: GRRR at Red Bull Moto Jam & Vroom Drag Meet
GRRR AT RED BULL MOTO JAM & VROOM DRAG MEET To reposition the Guerrilla 450 as a street muscle motorcycle, Royal Enfield hosted Drag and Drift experiences at Red Bull Moto Jam (Chennai) & Vroom Drag Meet (Bengaluru) INVESTOR PRESENTATION 37 July 2025
Slide 39: Collaborations
ENFIELD COLLABORATIONS . N A PPA DORI @ Spotify Out Dn oe sot, EEDON ein NA ZIRO DA Daily Objects “CO” Happy Sees Sony
Slide 40: Flying Flea Bangalore Showcase
FLYING FLEA BANGALORE SHOWCASE Bengaluru marked the third successful Flying Flea showcase, following unveils in Delhi and Mumbai, generating 20 media stories and 154 social posts with a reach of 179.8M. Key messaging around design-first identity, independent brand vision, and tech-led innovation reso
Slide 41: Rides and Expeditions
RIDES AND EXPEDITIONS #MakeEveryRideBetter INVESTOR PRESENTATION 40 July 2025
Slide 42: Latest Rides and Expeditions
LATEST RIDES AND EXPEDITIONS Cruiser Stack Ride Motocamping Ride Himalayan Odyssey Ride 2025 Project Karnataka Tourism x RE (East Zone Cruise to Bagdah 2025) Leveraged community rides to strengthen the culture of camaraderie, engaging enthusiasts from popular genres while highlighting the performanc
Slide 43: Leading Premium Motorcycle Brand
LEADING PREMIUM MOTORCYCLE BRAND #1 85% Consideration Community Culture Driven Builder #1 54% Top of Mind Awareness SHARE OF VOICE* NET SENTIMENT 52.1% 94% 33 percentage points 40 percentage points ahead of our closest ahead of our closest competitor competitor ● Our Top of Mind Awareness (first bran
Slide 44: 12.8 Million Social Media Community
12.8 MILLION ONE OF THE WORLD’s STRONGEST FULLY ORGANIC SOCIAL ❏ ❏ ❏ 120K - Average Engagement per Brand post 144M - Total Engagement 289M - Total Reach MEDIA COMMUNITY INSTAGRAM LINKEDIN YOUTUBE FACEBOOK X (TWITTER) INVESTOR PRESENTATION 43 July 2025
Slide 45: Sustainability
SUSTAINABILITY
Slide 46: ESG: Goals and Focus Areas
E S G : GOALS AND FOCUS AREAS Environmental 80% emission intensity ▪ Improve water positivity 01 reduction (tCO2e/motorcycle) ▪ Commitments towards zero liquid discharge by FY 2029-30 ▪ Eliminate utilisation of single use plastic ▪ Focus on increasing share of renewable energy ▪ Reducing waste gener
Slide 47: Social Mission Initiative - The Great Himalayan Exploration
SOCIAL MISSION INITIATIVE - THE GREAT HIMALAYAN EXPLORATION Royal Enfield and UNESCO held the third Great Himalayan Exploration in Sikkim—a month-long ride to document and preserve local cultural traditions, highlighting the link between motorcycling, heritage, and responsible travel. INVESTOR PRESEN
Slide 48: Among the Industry Leaders in Sustainability Practices
AMONG THE INDUSTRY LEADERS IN SUSTAINABILITY PRACTICES – EML is member of S&P Global LargeMidCap ESG Index – Among Top Automotive ESG leaders from India; Top 30%ile of Global Automakers in Corporate Sustainability Assessment. 13.2 A Low risk Indian Green Building Certification (IGBC) With Among the t
Slide 49: Volvo-Eicher Commercial Vehicles
VOLVO-EICHER COMMERCIAL VEHICLES
Slide 50: 15+ Years of Driving Modernisation
15+ YEARS OF DRIVING MODERNISATION Leveraging the best of both worlds Respect Fair and Ethical ▪ Leadership in Light & Medium Duty ▪ Global expertise Excellence segments ▪ Leadership in product technology ▪ Frugal engineering & operations Customer Centric ▪ Well defined processes and controls ▪ After
Slide 51: VECV Board
VECV BOARD Leaders with proven track record Siddhartha Lal Sofia Helena Frandberg Vinod K. Aggarwal Jan Hjelmgren Executive Chairman, EML MD & CEO - VE Commercial Non-executive Director Chairperson - VECV Vehicles Ltd Raul Rai Lila Poonawalla Inder Mohan Singh Bruno Blin Non-executive Director Non-ex
Slide 52: Expansive Product Range
EXPANSIVE PRODUCT RANGE INVESTOR PRESENTATION 51 July 2025
Slide 53: Business Performance Q1 FY26 for VECV
BUSINESS PERFORMANCE Q1 FY 26 FOR VECV ● Crossed 21,000 units sales for Q1 for the first time, growth of 9.7% in a flat market ● Record Q1 sales of LMD Trucks, Buses. Volume drop in HD linked to lower TIV ● Sustained India #1 in LMD trucks market share ● Strengthened Spare Parts, Engineering Component
Slide 54: Connected Services Next Step to Drive Customer Value
CONNECTED SERVICES NEXT STEP TO DRIVE CUSTOMER VALUE ○ My Eicher: Leadership in Fleet Management with 152K Customers ○ 350+ K Vehicles ○ 160+ Customer Features & Services ○ VE Connected Solutions JV – Driving Next-Gen Innovation Segment specific multi fleet solutions for VECV Customers ○ In-house supp
Slide 55: Crossed Milestone of 1,000 Touch Points in India
CROSSED MILESTONE OF 1,000 TOUCH POINTS IN INDIA ● 20 touch points added in Q1FY’26 ● Site Support network now spans over 370 sites nationwide, servicing 20,000+ vehicles ● Container support along highways deployed on 14 highways across 8 states. ● Retail Excellence to improve Customer Satisfaction.
Slide 56: Financial Express Mobility Awards 2025
FINANCIAL EXPRESS MOBILITY AWARDS 2025 INVESTOR PRESENTATION 55 July 2025
Slide 57: Growing Market Share in a Competitive Market
GROWING MARKET SHARE IN A COMPETITIVE MARKET Light & Medium Duty Trucks 34.5% #1 25.4% FY 2009 Q1FY26 Buses (Combined) HD Trucks (Combined) 22.1% 9.3% #3 #3 5.3% 2.1% FY 2009 Q1FY26 FY 2009 Q1FY26 # Market position of the segments INVESTOR PRESENTATION 56 July 2025
Slide 58: Q1 FY26 & YTD FY26 Sales & Market-Share Across Key Segments
Q1 FY26 & YTD FY26 SALES & MARKET-SHARE ACROSS KEY SEGMENTS Q1 -Quarterly Segments Volumes Market share (%) Growth % Q1'FY26 Q1'FY25 Q1'FY26 Q1'FY25 HD 4,580 4,689 -2.3 8.8 8.4 LMD 8,610 7,842 9.8 34.5 33.9 3.5-5T 350 332 5.4 23.4 25.7 SCV 192 - - 0.2 - (2.0-3.5T) HD Bus 481 391 23.0 7.9 6.3 LMD Bus
Slide 59: Q1 FY26 VECV Financial Highlights
Q1 FY 26 VECV FINANCIAL HIGHLIGHTS Total Revenue from Operations EBITDA^ & Margins Profit After Tax* ○ ^ EBITDA – Earning Before Interest ,Tax, Depreciation and Amortisation For the purpose of EBITDA computation, only operating Income has been considered. The figures in % indicate EBITDA Margins, EBI
Slide 60: Eicher Motors Financial Review
EICHER MOTORS FINANCIAL REVIEW
Slide 61: Significant Value Creation for All Stakeholders
SIGNIFICANT VALUE CREATION FOR ALL STAKEHOLDERS Market Capitalisation (INR Billions) INVESTOR PRESENTATION 60 July 2025
Slide 62: Shareholder Returns: Dividend
SHAREHOLDER RETURNS : DIVIDEND The Board of Directors of the Company at their meeting held on May 14, 2025, considered and proposed a final dividend post the balance sheet date, aggregating to Rs. 1,919.15 crores @ Rs. 70 per share (nominal value of Re. 1 per share) for the financial year ended March
Slide 63: Q1 FY26 Financial Highlights (Consolidated)
Q1 FY 26 FINANCIAL HIGHLIGHTS (Consolidated) Total Volumes Revenue from operations EBITDA and Margin PAT All figures refer to EML Consolidated numbers and are in INR Crs unless specified Note : Revenues & EBITDA from VE Commercial Vehicles are not included in EML consolidated Revenue & EBITDA respecti
Slide 64: Profit & Loss Statement (Consolidated)
PROFIT & LOSS STATEMENT (Consolidated) Profit and Loss Account FY19 FY20 FY21 FY22 FY23 FY24 FY25 Sales Volume: Two Wheelers (Nos.) 822,724 697,582 609,403 595,474 824,066 912,003 1,002,893 Total revenue from operations (net of excise) 9,797 9,154 8,720 10,298 14,442 16,536 18,870 Manufacturing and
Slide 65: Balance Sheet (Consolidated)
BALANCE SHEET (Consolidated) Particulars FY19 FY20 FY21 FY22 FY23 FY24 FY25 Net Fixed Assets (including CWIP and Pre-operative Expenditure) 2,324 2,690 2,748 2,929 3,162 3,469 3,965 Investments 4,923 5,749 3,902 7,721 12,101 13,346 13,943 Other Non Current Assets 180 102 125 165 252 2,161 2,312 Curr
Slide 66: Statement of Cash Flows (Consolidated)
STATEMENT OF CASH FLOWS (Consolidated) Particulars FY 19 FY20 FY21 FY22 FY23 FY24 FY25 Profit before tax and after share of profit of Joint venture 3,297 2,355 1,798 2,203 3,800 5,202 5933 Operating profit before changes in working capital 2,941 2,236 1,912 2,172 3,552 4,404 4849 Net Changes in working
Slide 67: Royal Enfield Royal Enfield Royal Enfield
Royal Enfield Royal Enfield Royal Enfield