Eicher Motors Limited · NSE:EICHERMOT
Eicher Motors — Q1 FY2027 Earnings Presentation
76 slides from Eicher Motors's earnings presentation, Jul 29, 2026
Slide 1: Regulation 30 investor presentation intimation
July 29, 2026 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 Ltd Q1 FY2027 Investor Presentation
EICHER MOTORS LTD Q1 FY 2027 INVESTOR PRESENTATION July, 2026
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 ● Allied Business ● Operations Overview ● Brand ● Sustainability 3. JV Update - VECV 4. Financial Review INVESTOR PRESENTATION July 2026
Slide 5: Group Structure - Eicher Motors Ltd
GROUP STRUCTURE - EICHER MOTORS LTD Promoter Foreign Institutional Domestic Institutional Group Investors Investors Others 49.1% 26.0% 16.4% 8.5% 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 Enfiel
Slide 6: EML: Board of Directors
EML : BOARD OF DIRECTORS Siddhartha Lal B. Govindarajan Vinod Aggarwal Inder Mohan Singh Executive Chairman, EML Managing Director, EML & Executive Vice Chairman,EML Independent Director CEO, Royal Enfield Ira Gupta S Madhavan Tejpreet Chopra Arun Vasu Independent Director Independent Director Indepe
Slide 7: Royal Enfield
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 2026
Slide 8: Our Journey
OUR JOURNEY SINCE 1901
Slide 9: Journey 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: Journey 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: Journey 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: Journey 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: Journey 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: Journey 2025-2026
2025 2025 Royal Enfield begins its celebration of 125 Royal Enfield has unveiled the Scram 440, a years of Pure Motorcycling at EICMA 2025, versatile adventure crossover built for pure Milan, with a powerful showcase that enjoyment wherever you ride. Powered by a honours its rich legacy while embracin
Slide 15: Our Mission
OUR MISSION 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. Motorc
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: Royal Enfield: Management Team
ROYAL ENFIELD : 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 Umes
Slide 18: Expansive Product Portfolio
EXPANSIVE PRODUCT PORTFOLIO Engine Platform Heritage Cruiser Roadster Scrambler Adventure Retro Sport Electric 650 cc Twin cylinder Classic 650 Super Meteor 650 Interceptor INT650 Bear 650 Continental GT650 Air-oil cooled 47 PS | 52.4 N-m Bullet 650 Shotgun 650 450 cc Single cylinder Liquid cooled 3
Slide 19: Awarded & Acclaimed
PREMIUM MOTORCYCLE OF THE Motorcycle upto 350cc Best Naked Bike 2026 - Bear Cruiser of the year YEAR 2025 - Motoring world Award 2023 - bike india awards - Indonesia International Motor Show 2024 - Motoring world awards BIKE OF THE YEAR 2024 - Autocar NZ internationally Manufacturer of the year Mode
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 Guerrilla 450 Bear 650 | Classic 650 Bullet battalion Black | Goan Classic 350 Bullet 650 | Scram 440 Himalayan 450 | Shotgun 650 New Bullet 350 650cc Twins INT 650 / GT 650 Hunter 350 Super Meteor 650 411 Himalayan OG New Classic 350 ~85% Motorcycl
Slide 22: Gaining Market Share in Domestic Motorcycles
GAINING MARKET SHARE IN DOMESTIC MOTORCYCLES 30.3% 9.1% 15.5% 3.0% INVESTOR PRESENTATION 21 July 2026
Slide 23: Expansive Premium Dealership Network
EXPANSIVE PREMIUM DEALERSHIP NETWORK Royal Enfield currently ranks #1 in the FADA Dealer Satisfaction Survey 2025 INVESTOR PRESENTATION 22 July 2026
Slide 24: International Business
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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 (2) Brazil CKD South Korea & Brazil Taiwan Subsidiary` Thailand CKD Hong Kong Mexico (Dis) & Thailand Subsidiary Colombia CKD
Slide 26: Market Share in Global Mid-Size Market
MARKET SHARE IN GLOBAL MID-SIZE MARKET Americas Market Share^ APAC Market Share^ EMEA Market Share^ 6.6% 9.7% 7.6% Royal Enfield ranked as Third Strongest Automobile Brand in the World by Brand Finance ^Reflects Royal Enfield’s market share in the middleweight segment in the countries present as of FY2
Slide 27: Revenue from International Business
REVENUE FROM INTERNATIONAL BUSINESS International Business – Stellar growth in revenues from International business Grand Opening of its 1st RE Flagship Dealer in RENA Super Meteor 650 wins the “Best Cruiser - Middle Weight” at the Thailand Bike of the Year Awards 2026 **International Revenue from m
Slide 28: Spares and Service
SPARES AND SERVICE Roadside Assistance INVESTOR PRESENTATION 27 July 2026
Slide 29: Genuine Motorcycle Accessories
GENUINE MOTORCYCLE ACCESSORIES INVESTOR PRESENTATION 28 July 2026
Slide 30: Allied Business: Expansion of Range & Reach
ALLIED BUSINESS: EXPANSION OF RANGE & REACH Allied Business Revenue (Includes Spare parts, Service, Accessories & Apparel) INVESTOR PRESENTATION 29 July 2026
Slide 31: Apparel Announcements
APPAREL ANNOUNCEMENTS Heritage Collection Introducing the Heritage Collection a tribute to timeless craftsmanship where every piece carries legacy. Velocity Helmets Premium lineup of touring-focused, full-face motorcycle helmets. Ditching the traditional "retro" design language, the series opts for
Slide 32: Operations Overview
OPERATIONS OVERVIEW
Slide 33: Production Capabilities
PRODUCTION CAPABILITIES THIRUVOTTIYUR VALLAM Custom operations ~900,000 motorcycles per annum capacity ORAGADAM CHEYYAR 600,000 motorcycles per annum capacity Chrome plating and adjunct operations started in July 2026. Brownfield expansion underway INVESTOR PRESENTATION 32 July 2026
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: Launch of 1st Flying Flea Store @ Bangalore
LAUNCH OF 1ST FLYING FLEA STORE @ BANGALORE Royal Enfield launched the Flying Flea C6, the first motorcycle under its new City+ electric mobility brand- Flying Flea, along with the brand's first store in Bengaluru. Inspired by the original 1940s Flying Flea and reimagined for urban riders, deliveries f
Slide 38: Launched Bullet 650
LAUNCHED BULLET 650 Royal Enfield launched the Bullet 650 across India, EMEA and ANZ expanding its 650cc motorcycle portfolio with the iconic Bullet DNA. Available in Cannon Black and Battleship Blue, the motorcycle pays tribute to its British lineage and Indian soul and retains the pure essence. INV
Slide 39: Hunter New Variant & Fresh Colourways
HUNTER NEW VARIANT & FRESH COLOURWAYS @ HUNTERHOOD Royal Enfield expanded the 2026 Hunter 350 lineup with a new Base Premium variant in Tarmac Black, alongside new Mumbai Yellow and Moonshot White colourways. Unveiled at HunterHood in Lucknow INVESTOR PRESENTATION 38 July 2026
Slide 40: Expanded the 1:3 Scale Classic Model Range
EXPANDED THE 1:3 SCALE CLASSIC MODEL RANGE Royal Enfield expanded its 1:3 scale Classic model range with the introduction of Medallion Bronze and Orange Ember, taking the total number of colour options to nine. Handcrafted using 964 individual parts, the collectible scale models continue to celebrate
Slide 41: Himalayan 450 Records Its Strongest Year
HIMALAYAN 450 RECORDS ITS STRONGEST YEAR Himalayan 450 recorded annual global sales surpassing 38,000 units (excluding India). Powered by the Sherpa engine, the Himalayan 450 has become the best-selling adventure motorcycle in its class in India and Brazil. INVESTOR PRESENTATION 40 July 2026
Slide 42: GRRR Night @ Bengaluru
GRRR NIGHT @ BENGALURU Hosted GRRR Nights X Underground in Bengaluru, celebrating the Guerrilla 450 through a unique blend of motorsport, street culture, live music and community engagement, bringing together riders and enthusiasts in an immersive urban experience. INVESTOR PRESENTATION 41 July 2026
Slide 43: Gymkhana Chennai
GYMKHANA CHENNAI Royal Enfield hosted Gymkhana in Chennai, bringing together riders for a day of skill-building activities, experiential ride zones, stunt performances and interactive workshops. The event showcased the capabilities of the Himalayan 450, Scram 440, Guerrilla 450, Hunter 350 and the 65
Slide 44: Awards
AWARDS Guerrilla 450 named Modern Classic Bike of the Year at the Goan Classic 350 wins Best Modern Classic Award at Bangkok Allianz Motorcycle of the Year Awards, Malaysia International Motor Show 2026 INVESTOR PRESENTATION 43 July 2026
Slide 45: Continental GT Cup 2026
CONTINENTAL GT CUP 2026 Royal Enfield 2026 Continental GT Cup presented by JK Tyre, introducing the all-new GT-R750 race prototype for the Professional category. Expanding to eight cities for the first time, the 6th edition brings amateur and professional riders together on a shared platform strengthe
Slide 46: Brand Announcement
BRAND ANNOUNCEMENT RE X Fairtex in Thailand RE unveiled a new custom build - Urban Striker in Thailand. Built on the 2026 Guerrilla 450, the custom motorcycle was created by Apollo Garage. The company also partnered with Fairtex to celebrate this custom with a premium range of gear and apparel. RE X
Slide 47: Collaborations
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Slide 48: Rides and Expeditions
RIDES AND EXPEDITIONS #MakeEveryRideBetter INVESTOR PRESENTATION 47 July 2026
Slide 49: Latest Rides and Expeditions
LATEST RIDES AND EXPEDITIONS Leveraged community rides to strengthen the culture of camaraderie, engaging enthusiasts from across the world while highlighting the performance of Royal Enfield motorcycles and gear. INVESTOR PRESENTATION 48 July 2026
Slide 50: Leading Premium Motorcycle Brand
LEADING PREMIUM MOTORCYCLE BRAND #1 83% Consideration Community Culture #1 56% Top of Mind Driven Builder Awareness SHARE OF VOICE* NET SENTIMENT 29 percentage points 39 percentage points ahead of our closest competitor ahead of our closest 50.3% 94.9% competitor ● Our Top of Mind Awareness (first br
Slide 51: 14.2 Million Social Media Community
14.2 MILLION ONE OF THE WORLD’s STRONGEST FULLY ORGANIC SOCIAL ❏ ❏ ❏ 193K - Average Engagement per Brand post 153M - Total Engagement 335M - Total Reach MEDIA COMMUNITY INSTAGRAM LINKEDIN YOUTUBE FACEBOOK X (TWITTER) INVESTOR PRESENTATION 50 July 2026
Slide 52: Sustainability
SUSTAINABILITY
Slide 53: ESG: Roadmap and Focus Areas
E S G : ROADMAP 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 ge
Slide 54: Golden Peacock Award for Corporate Governance
Eicher Motors Limited received the Golden Peacock Award for Excellence in Corporate Governance in 2025. This prestigious national award, from the Institute of Directors (IOD), honors organizations that showcase outstanding corporate governance practices. INVESTOR PRESENTATION 53 July 2026
Slide 55: Volvo-Eicher Commercial Vehicles
VOLVO-EICHER COMMERCIAL VEHICLES
Slide 56: 15+ Years of Driving Modernisation
EVENTS 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
Slide 57: VECV Board
EVENTS VECV BOARD Leaders with proven track record Vinod Aggarwal Srinivas Balantrapu Siddhartha Lal Sofia Helena Frandberg Chairperson , VE Commercial MD & CEO , VE Commercial Non Executive Director Non Executive Director Vehicles Ltd. Vehicles Ltd. Bruno Blin Jan Hjelmgren Inder Mohan Singh Padmaja
Slide 58: Q1 FY27 Sales at 24,815 Units
EVENTS Q1 FY27 SALES @ 24,815 UNITS WITH GROWTH RATE OF 14.8% ● Overall market share (in >3.5T) at 18.5% ● Sustained India #1 in LMD trucks market share ● Best Q1 FY 27 @ volume level ● 7 Apollo CV Awards, including prestigious “CV Transport Solution Provider of the Year” ● 106 New products introduc
Slide 59: Service Growth - Touch Points Added in Q1 FY27
EVENTS SERVICE GROWTH - 30 TOUCH POINTS ADDED IN Q1 FY27 ● SCV : 4 new SCV locations ● East Focus: 376 locations; covering all 7 NE states ● Container support deployed on 14 highways across 8 states. ● Retail Excellence to improve Customer Satisfaction. ● Leveraging Telematics ● Network now spans ov
Slide 60: Volvo Launches FMX Edge for Mining
EVENTS VOLVO LAUNCHES FMX EDGE FOR MINING Built around real mining realities and engineered for better outcomes, FMX Edge brings together performance, safety, efficiency, predictability, and lifecycle value in one focused solution.
Slide 61: Annual Dealer Conference 2026
ANNUAL DEALER CONFERENCE 2026 - CELEBRATED 100,000+ EVENTS
Slide 62: VECV Signed MoU with MoRTH
EVENTS VECV SIGNED MoU WITH MoRTH ○ The MoU under the Government of India's scheme for replacement of old trucks and buses in the Delhi–NCR region was signed between the Ministry of Road Transport and Highways (MoRTH) and VECV. ○ Rs 9,585 crore MoRTH PARIVARTAN scheme opens a 2.07 lakh vehicle repla
Slide 63: Glimpse of Achievements
GLIMPSE OF ACHIEVEMENTS e4M Gold for Eicher Pro X Launch Campaign CV Maker of the Year
Slide 64: Customer Satisfaction & Brand Health Survey
CUSTOMER SATISFACTION & BRAND HEALTH SURVEY EVENTS 2026 ➢ Eicher retains No.1 position amongst 5 market players in LMD Trucks ➢ Eicher retains No.1 position amongst 4 market players in HD Trucks ➢ Eicher rated No.2 amongst 5 market players in Customer Satisfaction in Bus Division. ➢ In CSI 2026, we
Slide 65: Strong Market Positions for VECV
EVENTS STRONG MARKET POSITIONS FOR VECV Light & Medium Duty Trucks 34.9% #1 25.4% FY 2009 FY 2026 Buses (Combined) HD Trucks (Combined) 19.3% 9.7% #3 #3 5.3% 2.1% FY 2009 FY 2026 FY 2009 FY 2026 # Market position of the segments
Slide 66: Q1 FY27 & Q1 FY26 Sales & Market Share Across Key Segments
EVENTS Q1 FY27 & Q1 FY26 SALES & MARKET-SHARE ACROSS KEY SEGMENTS Q1 -Quarterly Segments Volumes Market share (%) Growth % Q1'FY27 Q1'FY26 Q1'FY27 Q1'FY26 HD 5,275 4,580 15.2% 8.8% 8.8% LMD 9,993 8,610 16.1% 33.2% 34.8% 3.5-5T 332 350 -5.1% 21.0% 23.4% SCV (2.0-3.5T) 1,041 192 442.2% 1.0% 0.2% HD Bu
Slide 67: Q1 FY27 VECV Financial Highlights
EVENTS Q1 FY 27 VECV FINANCIAL HIGHLIGHTS Total Volumes (In Units) Revenue from operations +16.6% +14.8% +6.1% +4.1% 1.For the purpose of EBITDA computation, only operating Income has been considered. EBITDA & EBITDA Margin PAT* 2. PAT* - Includes OCI 3. The percentages mentioned represent YoY growt
Slide 68: VECV Profit & Loss Statement (Consolidated)
EVENTS VECV PROFIT & LOSS STATEMENT (Consolidated) Particulars FY22 FY23 FY24 FY25 FY26 Q1 FY 27 Sales Volume 79,623 85,560 90,163 103,404 24,815 Income Revenue from operations 12,724.5 18,952.3 21,868.0 23,548.2 27,076.6 6,609.9 Other income 57.3 122.6 205.1 213.5 298.1 73.8 Total income 12,781.8 1
Slide 69: Eicher Motors Financial Review
EICHER MOTORS FINANCIAL REVIEW
Slide 70: Significant Value Creation for All Stakeholders
SIGNIFICANT VALUE CREATION FOR ALL STAKEHOLDERS Market Capitalisation (INR Billions) INVESTOR PRESENTATION 69 July 2026
Slide 71: Shareholder Returns: Dividend
SHAREHOLDER RETURNS : DIVIDEND During the meeting held on May 22, 2026, the Company's Board of Directors approved a final dividend of ₹82 per equity share (nominal value Re. 1) for FY26, subject to shareholder approval. INVESTOR PRESENTATION 70 July 2026
Slide 72: Q1 FY27 Financial Highlights (Consolidated)
Q1 FY 27 FINANCIAL HIGHLIGHTS (Consolidated) Total Volumes (in units) Revenue from operations +27.4% +31.5% +21.3% +32.2% 24.0% 23.9% EBITDA & EBITDA Margin PAT* All figures refer to EML Consolidated numbers and are in INR Crs unless specified & the percentages mentioned represent YoY growth. Note : R
Slide 73: Profit & Loss Statement (Consolidated)
PROFIT & LOSS STATEMENT (Consolidated) Particulars FY22 FY23 FY24 FY25 FY26 Q1 FY27 Sales Volume 595,474.0 824,066.0 912,003.0 1,002,893.0 1,227,977.0 332,940.0 Income Revenue from operations 10,297.8 14,442.2 16,535.8 18,870.4 23,407.6 6,632.4 Other income 440.8 595.1 1,075.9 1,304.9 1,486.5 466.3
Slide 74: Balance Sheet (Consolidated)
BALANCE SHEET (Consolidated) Particulars FY22 FY23 FY24 FY25 FY26 Net Fixed Assets (including CWIP and Pre-operative Expenditure) 2,929.1 3,162.1 3,469.5 3,964.9 4,588.0 Investments 7,720.6 12,320.7 13,527.0 13,943.4 14,664.0 Other Non Current Assets 212.4 251.58 2,161.1 2,312.0 3,357.3 Current Asse
Slide 75: Statement of Cash Flows (Consolidated)
STATEMENT OF CASH FLOWS (Consolidated) Particulars FY22 FY23 FY24 FY25 FY26 Profit before tax and after share of profit of Joint venture 2,202.5 3,799.6 5,202.0 5,933.1 7,102.1 Operating profit before changes in working capital 2,190.9 3,527.3 4,403.6 4,849.1 5,885.4 Net Changes in working capital -150
Slide 76: Royal Enfield
Royal Enfield Royal Enfield Royal Enfield