EBITDA grew 20.88% to Rs 1,129 crore in fourth quarter of FY24 as compared to Rs 934 crore in the same quarter previous year.
Royal Enfield sold 227,925 motorcycles in March 2024 quarter, up 6.17% compared from 214,685 motorcycles sold over the same period in FY23.
On full year basis, the company's consolidated net profit jumped 37.31% to Rs 4,001.01 crore on 14.50% increase in revenue from operations to Rs 16,535.78 crore in FY24 over FY23.
Meanwhile, the board recommended a final dividend of Rs 51 per share, for the financial year 2023-24, subject to the approval of the shareholders.
Siddhartha Lal, managing director, Eicher Motors, said, “In the motorcycle business, last year was an action packed one as the middleweight segment in the industry witnessed a considerable number of launches by international brands in partnership with Indian OEMs. Remaining unfazed and maintaining focus on our strategic goals and community, Royal Enfield stood head and shoulders above everyone else, and launched three spectacular motorcycles including the all-new Himalayan built ground-up on the brand-new Sherpa 450, liquid-cooled engine platform - to overwhelming love and appreciation from across the globe.
At VECV, we have recorded the highest ever sales of Eicher Trucks and Buses, Volvo Trucks, VE powertrain, components and power solutions. We also made tremendous progress on EV vehicles with commencement of sales of EV trucks and the global unveil of the new electric-first small commercial vehicle. With an expanding product range, backed by cutting edge connected and efficient solutions, we are quite upbeat for the growth potential for VECV.”
B. Govindarajan, CEO, Royal Enfield and wholetime director, EML, said, “Moving in line with our ambition to expand our reach in international markets, we’ve made considerable progress by setting up our fifth CKD assembly unit outside India in Nepal. This year also saw Royal Enfield mark its debut in Turkey, which has huge potential for leisure motorcycling, and also set up a wholly-owned subsidiary in the Netherlands to cater to evolving consumers in the EU. With our upcoming portfolio of products, I can confidently say that we are on a strong path to growth and will continue to deliver world-class motorcycles and pure motorcycling experiences to riders across the globe.”
Vinod Aggarwal, MD & CEO, VE commercial vehicles (VECV), said, “FY24 was a strong year for all our businesses. Our modern, connected and efficient products, backed by our Uptime Promise, have been well received by customers looking to modernize logistics and we have gained market share as a result. With a strong Indian economy, backed by strong investments in infrastructure and modernization, we see strong growth potential in the period ahead.”
Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles which operates in India's commercial vehicle space.
Shares of Eicher Motors advanced 1.98% to end at Rs 4,657.65 on Friday, 10 May 2024.