Eicher Motors This fall PAT up by 18% YoY at Rs 545 cr, Auto Information, Automobilnews
Royal Enfield offered 197,567 bikes within the quarter, registering a decline of 13% from 226,907 bikes offered in the identical interval final 12 months.
For the 12 months ended March 2019, Royal Enfield’s complete income from operations was up by 9% to Rs 9,797 crore, in comparison with Rs 8,965 crores recorded for the 12 months ended March 2018; EBITDA was Rs 2,903 crores, up by 3% in comparison with Rs 2,808 crores.
Revenue After Tax was recorded at Rs 2,203 crores as in comparison with Rs 1,960 crores in the identical interval final 12 months. Royal Enfield offered near 822,724 bikes within the 12 months, registering a marginal progress from 820,121 bikes offered final 12 months.Commenting on Royal Enfield’s efficiency, Siddhartha Lal, Managing Director of Eicher Motors Ltd, stated, “The latter half of 2018 was a difficult interval for the two-wheeler business in India with components resembling revision in insurance coverage value, improve in costs on account of recent security norms, affected client sentiment. At Royal Enfield, we recorded flat gross sales volumes after a number of years of augmented gross sales progress.”
He added, “Regardless of a difficult fourth quarter, the pattern of premiumisation continues to indicate vital potential. This was a landmark 12 months for Royal Enfield as our new 650 Twins – The Interceptor 650 and Continental GT 650 – started to retail after the worldwide launch in California, and obtained glorious opinions from media and customers internationally. I’m very comfortable to have Vinod Dasari be part of us as CEO, as we gear up with renewed give attention to getting nearer to our ambition of being a worldwide client model from India”
Within the Business Automobiles section, VE Business Automobiles (VECV) – Eicher’s joint-venture with AB Volvo – was affected by the business slowdown particularly within the later a part of the 12 months.
For the quarter ended March 2019, VECV’s income from operations was 3% decrease to Rs. 3,209 crores from Rs 3,317 crores in the identical interval final 12 months; EBITDA declined by 13% to Rs 274 crores from Rs 315 crores in the identical interval final 12 months; Revenue After Tax declined by 22% to Rs 139 crores from Rs. 177 crores final 12 months.
VECV offered 21,010 vehicles and buses within the quarter, registering a decline of 9% over the identical interval final 12 months. Given intense competitors, heavy discounting and better base from final 12 months, VECV’s gross sales within the Mild & Medium Obligation (LMD) section declined by 9% and 25% within the Heavy Obligation (HD) section throughout the quarter.
Talking on VECV’s efficiency Siddhartha stated “Whereas registering a decline within the fourth quarter, VECV completed the 12 months at par with the business progress of 12%. The market circumstances have been hostile on account of all time excessive worth discounting.
He additional added, “In 2018-19, VECV additional strengthened its product portfolio with new launches in mild responsibility section with the Professional 2000 sequence, electrical bus, an business first 7 velocity transmission and merchandise primarily based on new axle norms in 48 Tonnes and 55 Tonnes segments.”
“VECV additionally entered Indonesia and South Africa with Kuzer beneath the UD model. We proceed to consider that we will be the catalyst to drive modernisation of business transportation in India and different growing markets”he added.