Eicher Motors Limited · NSE:EICHERMOT
Eicher Motors — Q4 FY2025 Earnings Presentation
63 slides from Eicher Motors's earnings presentation, May 14, 2025
Slide 1: Regulation 30 cover letter to stock exchanges
May 14, 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 Ltd Q4 & FY 2024-25 Investor Presentation
EICHER MOTORS LTD Q4 & FY 2024-25 INVESTOR PRESENTATION May, 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-MC Business ● Operations Overview ● Brand ● Sustainability 3. JV Update - VECV 4. Financial Review INVESTOR PRESENTATION May 2025
Slide 5: Group Structure - Eicher Motors Ltd
GROUP STRUCTURE - EICHER MOTORS LTD Foreign Institutional Domestic Promoter Group Investors Institutional Investors Others 49.1% 25.4% 17.2% 8.3% 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) RENA (Royal Royal Enfield
Slide 6: EML Board
EML BOARD Siddhartha Lal B. Govindarajan Vinod K. Aggarwal Inder Mohan Singh Executive Chairman, EML Managing Director, EML & CEO, Vice Chairman (Non Executive), Independent Director Royal Enfield EML and MD & CEO of VECV Ira Gupta S Madhavan Tejpreet Chopra Arun Vasu Independent Director Independent
Slide 7: Royal Enfield
ROYAL ENFIELD INVESTOR PRESENTATION May 2025
Slide 8: Our Purpose
OUR PURPOSE Royal Enfield’s philosophy of Pure Motorcycling has always been about a constant search for balance between people, machine and terrain. Today, in a world out of sync with itself, we must extend this quest to our business – so that we can restore equilibrium between commercial objectives,
Slide 9: 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 10: Strong Management Team
STRONG MANAGEMENT TEAM Siddhartha Lal B. Govindarajan Mark Wells Mohit Dhar Jayal Simon Warburton Mahesh Tripathi Executive Chairman, EML MD, EML and CEO, Royal Enfield Chief of Design Chief Brand Officer Chief Program Manager Chief Operations Officer Yadvinder S. Guleria Vidhya Srinivasan Rajeev Sharm
Slide 11: Expansive Product Portfolio
EXPANSIVE PRODUCT PORTFOLIO Engine Platform Heritage Roadster Scrambler Adventure Cruiser Retro Sport P Platform 650cc | Twin cylinder Interceptor INT650 Super Meteor 650 Continental GT650 Classic 650 Bear 650 Air-oil cooled 47 PS | 52.4 N-m Shotgun 650 K Platform 450cc | Single cylinder Liquid cool
Slide 12: India Business
INDIA BUSINESS
Slide 13: Share of Mid-Size in the Domestic Motorcycle Market Growing
SHARE OF MID-SIZE (250-750cc) IN THE DOMESTIC MOTORCYCLE MARKET GROWING 8.5% INVESTOR PRESENTATION 12 May 2025
Slide 14: Royal Enfield Leads the Mid-Size Industry in India
ROYAL ENFIELD LEADS THE MID-SIZE INDUSTRY IN INDIA Himalayan 450 | Shotgun 650 Transition of all 350 models to J Platform Guerrilla 450 Launch of the twins Hunter 350 Bear 650 | Classic 650 INT 650 / GT 650 Super Meteor 650 Goan Classic 350 Launch of 411 New Classic 350 Himalayan OG Scram 411 Contin
Slide 15: Gaining Market Share in Domestic Motorcycles
GAINING MARKET SHARE IN DOMESTIC MOTORCYCLES 30.1% 7.4% 12.6% 2.0% INVESTOR PRESENTATION 14 May 2025
Slide 16: Expansive Premium Dealership Network
EXPANSIVE PREMIUM DEALERSHIP NETWORK Royal Enfield expanded its pre-owned motorcycle Royal Enfield currently ranks #2 in the FADA business, RE Own to 230+ cities across India. Dealer Satisfaction Survey 2024 INVESTOR PRESENTATION 15 May 2025
Slide 17: International Business
INTERNATIONAL BUSINESS
Slide 18: Royal Enfield's Global Footprint
ROYAL ENFIELD’s GLOBAL FOOTPRINT Europe Subsidiary Canada Subsidiary UK Subsidiary Tech Center North America Subsidiary Nepal (CKD) Brazil CKD Bangladesh CKD & Brazil Subsidiary Thailand CKD Colombia (CKD) & Thailand Subsidiary India Subsidiaries - 06 Tech Center Manufacturing CKD units - 06 Tech Ce
Slide 19: Global Mid-Size Market Is Underserved & a Huge Opportunity
GLOBAL MID-SIZE MARKET IS UNDERSERVED & IS A HUGE OPPORTUNITY 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 18 May 2025
Slide 20: Rapidly Growing International Network
RAPIDLY GROWING INTERNATIONAL NETWORK 1,130+ premium global touchpoints Subsidiary - USA, Brazil Technology Centers – UK Subsidiary : Thailand Assembly Unit – Argentina, Colombia, Brazil Subsidiary – UK Assembly Unit – Thailand Exclusive Multi Brand Exclusive Multi Brand Exclusive Multi Brand Store
Slide 21: Revenue from International Business Growing
REVENUE FROM INTERNATIONAL BUSINESS GROWING International Business – Stellar Financial Performance over last 9 years New Thailand Assembly plant Inauguration INVESTOR PRESENTATION 20 May 2025
Slide 22: Widening Reach in the Non-Motorcycle Business
WIDENING REACH IN THE NON-MOTORCYCLE BUSINESS Comfort INVESTOR PRESENTATION 21 May 2025
Slide 23: Spares and Service
SPARES AND SERVICE Royal Enfield Service Spares - 6 new product introduced No.1 After Sales Score in RE Essentials - FADA SURVEY, 2023 INVESTOR PRESENTATION 22 May 2025
Slide 24: Genuine Motorcycle Accessories
GENUINE MOTORCYCLE ACCESSORIES Genuine Motorcycle Accessories INVESTOR PRESENTATION 23 May 2025
Slide 25: Exclusive Apparel Brand Stores
EXCLUSIVE APPAREL BRAND STORES ❏ Royal Enfield marked a milestone in Pune with the launch of its first exclusive apparel store at Amanora Mall, enhancing options for the motorcycling community. The store offers a range of riding jackets, helmets, and a diverse collection of lifestyle apparel for men a
Slide 26: Operations Overview
OPERATIONS OVERVIEW
Slide 27: Production Capabilities
PRODUCTION CAPABILITIES THIRUVOTTIYUR VALLAM No Assembly operations; Plating & Auto buffing 600,000 motorcycles per annum capacity ORAGADAM CHEYYAR 600,000 motorcycles per annum capacity All women plant INVESTOR PRESENTATION 26 May 2025
Slide 28: Building Global Capabilities for Future
BUILDING GLOBAL CAPABILITIES FOR FUTURE UK CHENNAI ▪ The Chennai tech centre has the engineering and design ▪ UK Tech Centre at Bruntingthorpe is a hub for the product teams working under one roof and houses state-of-the-art development and research activities for midsize motorcycles. engine, chassi
Slide 29: Royal Enfield Tops Two Wheeler Quality
ROYAL ENFIELD TOPS TWO WHEELER QUALITY Royal Enfield has been ranked India’s most reliable two-wheeler brand in terms of quality, according to the J.D. Power 2025 India Two-Wheeler Initial Quality Study released on March 5 . INVESTOR PRESENTATION 28 May 2025
Slide 30: Brand
BRAND
Slide 31: Royal Enfield Hunter 350 ~5 Lakh Milestone
ROYAL ENFIELD HUNTER 350 ~ 5 LAKH MILESTONE Royal Enfield's Hunter 350 surpassed 500,000 global sales following its August 2022 launch. The model rapidly became one of the industry's fastest-growing motorcycles by delivering nimbleness. Generated 44 exposures across print, online, electronic & social
Slide 32: A Dynamic ADV Crossover: Scram Launched in India
A DYNAMIC ADV CROSSOVER SCRAM 440 LAUNCHED IN INDIA A dynamic ADV crossover designed for city commutes and off-road adventures. Powered by a 443cc long-stroke engine with a six-speed gearbox, it features alloy wheels with tubeless tires, LED headlights, and switchable ABS, combining durability with
Slide 33: Classic 650 Launch and Ride
FROM NEWCASTLE AND MILAN TO INDIA: CLASSIC 650 LAUNCH AND RIDE Following its global debut in Newcastle, a reveal at EICMA 2024, and a showcase at Motoverse’s House of Classic, the Classic 650 was introduced to India with an exclusive media ride in Coonoor, Tamil Nadu. INVESTOR PRESENTATION 32 May 20
Slide 34: Guerrilla at Generational Speed 2025
GUERRILLA AT GENERATIONAL SPEED 2025 UNVEIL OF NEW COLOURWAYS At Generation Speed 2025, Royal Enfield unveiled the upgraded Guerrilla 450, now available in ‘Peix Bronze’ and ‘Smoke Silver’ with an upgraded TFT Tripper Dash, priced at INR 2,49,000. INVESTOR PRESENTATION 33 May 2025
Slide 35: Flying Flea Global Showcase
FLYING FLEA GLOBAL SHOWCASE Marking a historic milestone in Royal Enfield’s 123-year journey of timeless innovation, the India debut of its electric lineup — The Flying Flea, featuring the FF C6 and FF S6 — signaled the brand’s bold step into the future. INVESTOR PRESENTATION 34 May 2025
Slide 36: Limited Edition Shotgun 650 x ICON
LIMITED EDITION SHOTGUN 650 X ICON Launched on 100 3 12th February 2025 Limited-edition motorcycles Unique colour tone (Exclusively in Royal Enfield App) (with a complementary riding jacket) (with race-style graphics) Royal Enfield unveiled the Limited-Edition Shotgun 650 in partnership with ICON Moto
Slide 37: Rides and Community
RIDES AND COMMUNITY Desert Diary Rajasthan Tour 2025 Cruiser Stack Ride - North Zone Leveraged community rides to strengthen the culture of camaraderie, engaging enthusiasts from popular genres while highlighting the performance of Royal Enfield motorcycles and gear. INVESTOR PRESENTATION 36 May 2025
Slide 38: Leading Premium Motorcycle Brand
LEADING PREMIUM MOTORCYCLE BRAND #1 82% Consideration Culture Community Driven Builder #1 55% Top of Mind Awareness SHARE OF VOICE* NET SENTIMENT 48.8% 31 percentage 93% 40 percentage points ahead of our points ahead of our closest competitor closest competitor ● Our Top of Mind Awareness (first bran
Slide 39: 12.3 Million Social Media Community
12.3 MILLION ONE OF THE WORLD’s STRONGEST FULLY ORGANIC ❏ ❏ ❏ 135K - Average Engagement per Brand post 46.6M - Total Engagement 116M - Total Reach SOCIAL MEDIA COMMUNITY INSTAGRAM LINKEDIN YOUTUBE FACEBOOK X (TWITTER) INVESTOR PRESENTATION 38 May 2025
Slide 40: Sustainability
SUSTAINABILITY
Slide 41: Sustainability Focus
SUSTAINABILITY FOCUS Environmental ▪ Improve water positivity 80% targeted ( Scope 1 & 2) ▪ Commitments towards zero liquid discharge 01 emission intensity ▪ Eliminate utilisation of single use plastic reduction per motorcycle by ▪ Focus on increasing share of renewable energy FY 29-30*. ▪ Reducing
Slide 42: 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 43: 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. A 13.2 Low risk Among the top 10 Auto Rank #8 out of 85 in companies globa
Slide 44: Volvo-Eicher Commercial Vehicles
VOLVO-EICHER COMMERCIAL VEHICLES
Slide 45: 15 Years of Driving Modernisation
15 YEARS OF DRIVING MODERNISATION Leveraging the best of both worlds Respect Fair and Ethical ▪ Leadership in Light & Medium ▪ Global expertise Excellence Duty segments ▪ Leadership in product technology ▪ Frugal engineering & operations Customer Centric ▪ Well defined processes and ▪ After sales inf
Slide 46: 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 47: Business Performance Q4 FY25 for VECV
Business Performance Q4 FY 25 for VECV ● Crossed 90,000 units sales, growth of 5.3% in a flat market ● India #1 in LMD trucks market share ● Record sales of HD Trucks, Buses, Spare Parts, Engineering Components and Power Solutions ● Entered large Small Commercial Vehicle segment with Eicher Pro X ● 5
Slide 48: Modernized Product Range
MODERNIZED PRODUCT RANGE Premium & Value segments with Electric, Natural Gas and Diesel Offerings INVESTOR PRESENTATION 47 May 2025
Slide 49: Business Highlights of Q4 FY25
Business highlights of Q4 FY 25 ● EV first; Diesel and CNG version to be launched in next 3 months. ● Final Assembly at All-Woman line at Industry 4.0 Bhopal Factory. ● Deliveries commenced in Feb’25. ● Dedicated go-to market & distribution . ● Volvo Trucks - India’s first Road Train; Transforming Ind
Slide 50: Connected Services Next Step to Drive Customer Value
Connected Services next step to drive Customer value ● My Eicher: Leadership in Fleet Management 145K 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 supply of
Slide 51: Crossed Milestone of 1,000 Touch Points in India
CROSSED MILESTONE OF 1,000 TOUCH POINTS IN INDIA ● 149 touch points added in FY’25, ● East Focus: 316 locations; covering all 7 NE states ● Container support deployed on 14 highways across 8 states. ● Retail Excellence to improve Customer Satisfaction. ● Leveraging Telematics INVESTOR PRESENTATION 5
Slide 52: Focus FY26 - Transforming to Deliver Profitable Growth
Focus FY26 - Transforming to deliver Profitable Growth 1 2 3 Deliver Customer Value Accelerate growth in our Proposition to make VECV HD Truck business to Improve profitability, the #1 and preferred CV achieve 15% market Operating Profit 10% brand in India share in next three years INVESTOR PRESENTATIO
Slide 53: Growing Market Share in a Competitive Market
GROWING MARKET SHARE IN A COMPETITIVE MARKET Volvo Trucks India* Light & Medium Duty Trucks 96% 36% #1 #1 72.6% 25.3% FY 2009 4Q FY25 FY 2009 FY 25 *Market share in high end premium segment Buses (Combined) Heavy Duty Trucks (Combined) 21.7% 9.7% #3 2.0% #3 5.3% FY 2009 FY 25 FY 2009 FY 25 # Market
Slide 54: FY25 Best-ever Sales and Market-share Gains Across Key Segments
FY25-Best-ever sales and market-share gains across key segments Q4 -Quarterly YTD Segments Volumes Market share (%) Volumes Market share (%) Growth % Growth % Q4'FY25 Q4'FY24 Q4'FY25 Q4'FY24 FY25 FY24 FY25 FY24 HD 6,765 6,476 4.5 9.1 8.9 22,037 21,529 2 9 8.3 LMD 11,591 11,033 5.1 37.1 36.2 38,700 3
Slide 55: Q4 & FY25 VECV Financial Highlights
Q4 & FY 25 VECV FINANCIAL HIGHLIGHTS Total Revenue from Operations EBITDA^ and 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, EB
Slide 56: Eicher Motors Financial Review
EICHER MOTORS FINANCIAL REVIEW
Slide 57: Significant Value Creation for All Stakeholders
SIGNIFICANT VALUE CREATION FOR ALL STAKEHOLDERS Market Capitalisation (INR Billions) INVESTOR PRESENTATION 56 May 2025
Slide 58: 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 59: Q4 FY25 Financial Highlights (Consolidated)
Q4 FY 25 FINANCIAL HIGHLIGHTS (Consolidated) Total Sales Revenue from operations Motorcycle Volumes ('000) EBITDA and Margin PAT All figures refer to EML Consolidated numbers and are in INR Crs unless specified INVESTOR PRESENTATION 58 May 2025
Slide 60: 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 o
Slide 61: 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 62: 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 63: Royal Enfield
Royal Enfield Royal Enfield Royal Enfield