The company has formed a commercial team to evaluate market requirements for its initial electric motorcycle. Siddhartha Lal, Managing Director of Eicher Motors, stated, “We are currently testing the prototype and intend to launch a disruptive product. We have assembled a team to handle the business side of this venture. Our product will be available in two years.”
In the first quarter ending June 30, the company surpassed market expectations by reporting its all-time highest net profit of ₹918 crore. Total revenue for the quarter reached ₹3,986 crores, a 17.3% increase compared to ₹3,397 crore in the same quarter of FY23. Ebitda reached ₹1,021 crore, representing a 22.8% rise compared to ₹831 crore in the previous financial year’s first quarter. Lal stated, “Q1 has been significant for Eicher Motors, with both Royal Enfield and VECV achieving their best-ever performance during this period, showing tremendous growth.”