Latest news with #VinodAggarwal
Business Standard
01-08-2025
- Automotive
- Business Standard
Eicher Motors gains after Q1 PAT climbs 9% YoY to Rs 1,205 cr
Eicher Motors added 2.71% to Rs 5,618.75 after the company's consolidated net profit jumped 9.42% to Rs 1,205.22 crore in Q1 FY26 as against Rs 1,101.4 crore posted in Q1 FY25. Total revenue from operations rose 14.76% year on year to Rs 5,041.84 crore in the quarter ended 30 June 2025. Profit before tax (PBT) jumped 10.54% YoY to Rs 1,592.99 crore in Q1 FY26. The company reported an EBITDA of Rs 1,203 crore in Q1 FY26, marking a 3.26% year-on-year increase. However, the EBITDA margin declined to 23.9% in Q1 FY26, compared to 26.5% in Q1 FY25. During the quarter, Royal Enfield recorded sales of 261,326 motorcycles, representing a 14.7% increase from 227,736 units sold in Q1 FY25. VE Commercial Vehicles (VECV) reported revenue from operations of Rs 5,671 crore in Q1 FY26, up 11.9% from Rs 5,070 crore in the same quarter of FY25. EBITDA for the quarter rose 32.6% to Rs 511 crore, compared to Rs 385 crore a year earlier. VECV sold 21,610 vehicles during the quarter, an increase from 19,702 vehicles sold in Q1 FY25. B Govindarajan, managing director of Eicher Motors and chief executive officer of Royal Enfield, commented on the companys performance, At Eicher Motors, we had a solid start to the year, with encouraging growth across both Royal Enfield and VECV. We continue to build consistent momentum in volumes, profitability, and the strength of our overall portfolio. At Royal Enfield, we sustained our growth momentum in the first quarter, driven by a continued focus on product innovation, immersive riding experiences, and a deeper expression of pure motorcycling. The refreshed Hunter 350 remains a key growth driver, both in terms of volumes and community engagement. Advancing our global ambitions, we strengthened our presence in the SAARC region and expanded our portfolio in Nepal with the locally assembled Classic 350. With a refreshed line-up of motorcycles and a growing ecosystem of curated rides and culture-first experiences, we are shaping a vibrant and inclusive motorcycling movement. VECV has also delivered consistent growth, supported by a strong product portfolio and a sharp understanding of Indias evolving commercial mobility needs. Our ongoing investment in sustainable and efficient transport solutions positions us well for the future. As we move forward, our commitment to long-term value creation remains strong driven by customer-centric innovation, global ambition, and meaningful brand experiences at every level. Vinod Aggarwal, MD and CEO of VECV and vice chairman of Eicher Motors, commented on VECVs performance: VECV delivered its best-ever first quarter with 21,610 units sold in Q1 FY26, up 9.7% year-on-year, broadening its footprint in a largely flat market. Overall market share improved to 18.7%, compared to 17.3% last year, driven by continued leadership in LMD trucks with a 34.5% share, and strong performance in buses, where total bus volumes grew 14.8% and market share rose to 21.5%. Exports increased by 20.5% over the previous year. Deliveries of the all-electric Eicher Pro X in the SCV segment (2.03.5T) continue to gain momentum. Heavy-duty volumes were marginally lower due to a smaller total market, despite market share gains. Our connected vehicle solution, My Eicher, now connects 150,000 customers, representing 350,000 vehicles. VECV reported strong revenue growth and expanded profit margins, supported by better volumes, pricing, and cost discipline. Profit after tax (PAT) was lower compared to the previous year, primarily due to a one-off impact in Q1 FY25 related to deferred tax reversal. 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.
Time of India
31-07-2025
- Automotive
- Time of India
Eicher Motors net profit rises 9.4% to ₹1,205 crore in Q1
Eicher Motors Limited (EML) on Monday announced that it has clocked a 9.4 per cent year-on-year (YoY) growth in its profit after tax for the April-June (Q1) period of the current financial year (FY26). The company's net profit stood at ₹1,205 crore during the period, while its EBITDA rose by 3.2 per cent to ₹1,203 crore. The automaker attributed the growth to strong momentum in both its premium motorcycle brand Royal Enfield and its commercial vehicle arm, VE Commercial Vehicles ( VECV ). The company registered a consolidated revenue from operations of ₹5,042 crore in Q1 FY26, registering a growth of 14.8 per cent over ₹4,393 crore in the same quarter last year. Royal Enfield sales Royal Enfield sold 2,61,326 motorcycles in the quarter, a 14.7 per cent increase over Q1 FY25. Growth was driven by continued demand for its refreshed product portfolio, including the updated Hunter 350 and an expanded presence in international markets. Notably, the locally assembled Classic 350 was introduced in Nepal, marking deeper regional penetration. 'Our growth this quarter has been driven by sustained momentum in both Royal Enfield and VECV,' said B Govindarajan, MD of Eicher Motors and CEO of Royal Enfield. 'We are expanding our portfolio, investing in immersive riding experiences, and growing our global presence — all while strengthening our focus on customer-centric innovation and community engagement.' VECV sales VECV posted a revenue of ₹5,671 crore in Q1 FY26, up 11.9 per cent over last year. It sold 21,610 units during the quarter, reflecting a growth of 9.7 per cent. While EBITDA rose 32.6 per cent to ₹511 crore, the company noted that profit after tax was lower due to a one-off deferred tax reversal in the base quarter. VECV's market share rose to 18.7 per cent, driven by leadership in the light and medium-duty truck segment (34.5 per cent share) and strong performance in buses, where volumes grew 14.8 per cent. Exports rose 20.5 per cent year-on-year. The company also noted growing traction for its all-electric Eicher Pro X in the 2.0–3.5T segment, and increasing adoption of its 'My Eicher' connected vehicle platform, which now covers 3.5 lakh vehicles. Vinod Aggarwal, MD and CEO of VECV, said: 'We delivered our best-ever Q1 performance and expanded our presence in a largely flat market. Our robust product portfolio and investments in sustainable transport solutions ensure we are well-positioned for future growth.'
Time of India
05-06-2025
- Business
- Time of India
VECV targets 70% renewable energy use by FY27
VE Commercial Vehicles ( VECV ), the parent company of Eicher Trucks and Buses , marked World Environment Day by reaffirming its commitment to India's Net Zero targets. The company announced a series of measures aligned with sustainable manufacturing and cleaner mobility. VECV said its new range of zero-emission commercial vehicles under the Pro Planet Pro Business banner is already operational across India. These include alternate fuel solutions based on LNG, CNG and electric powertrains. The recently launched EV-first Eicher Pro X small truck is targeted at mid- and last-mile delivery applications. Electric buses from Eicher have been in operation since 2022 in multiple Indian states. Sustainability in manufacturing The company's Bhopal plant, which began operations in 2020, is built on Industry 4.0 principles and features AI-powered real-time energy monitoring. It also has an all-women final assembly line for the Eicher Pro X, which the company says is a first in the commercial vehicle industry. VECV aims to achieve 70% renewable energy usage in plant operations by FY27 and become water positive by 2030. As part of this initiative, a new water body with a capacity of 52 million litres has been created at the Bhopal facility, reportedly enough to sustain the plant's operations for four months. The company has also switched to 100% LED lighting across its sites, replacing around 5,000 conventional fixtures. As a result, energy intensity has reduced from 3.85 GJ/MINR in FY23 to 3.74 GJ/MINR in FY24. Vinod Aggarwal, MD and CEO, VECV, said, 'In line with India's Net Zero vision defined by Honourable Prime Minister Sh. Narendra Modi ji, VECV is committed to delivering future-ready mobility solutions—from electric, LNG and CNG trucks and buses to emerging technologies like hydrogen and fuel cells—as the market matures.' He added that the company's investments in smart manufacturing, renewable energy and responsible resource management reflect a broader commitment to sustainable growth. VECV says its ongoing initiatives support multiple United Nations Sustainable Development Goals (SDGs), particularly those related to clean water, affordable clean energy, responsible consumption and climate action.
Time of India
14-05-2025
- Automotive
- Time of India
GreenCell Mobility wins order for over 1,200 electric buses under PM e-Bus Sewa scheme
GreenCell Mobility has secured a Letter of Award (LoA) for the supply and deployment of more than 1,200 electric buses under the PM e-Bus Sewa scheme. The order includes 472 Eicher electric buses for use across six cities in Madhya Pradesh and 750 buses to be supplied in partnership with EKA Mobility across 11 cities in Andhra Pradesh. In Madhya Pradesh, GreenCell will work alongside VE Commercial Vehicles (VECV) , while the Andhra Pradesh deployment will be carried out in collaboration with Pinnacle Mobility Solutions (EKA Mobility). GreenCell Mobility, backed by Eversource Capital, stated that it is also setting up the required charging infrastructure to support these operations. The company already operates 900 electric buses in Uttar Pradesh, Gujarat, and Maharashtra. Industry collaboration and government support Devndra Chawla , MD & CEO, GreenCell Mobility, said, 'GreenCell Mobility is honoured to collaborate with the Governments of Andhra Pradesh and Madhya Pradesh to support the state's transition to sustainable public transport. These projects are a major milestone in our mission to transform mass mobility through zero-emission electric buses. Backed by strategic partnerships with leading OEMs and a robust financing model, we are committed to making clean, efficient public transportation accessible throughout India's growing cities—while delivering a safe, reliable, and superior guest experience.' Vinod Aggarwal , MD & CEO of VE Commercial Vehicles, added, 'We are delighted to take the next step with GreenCell Mobility by introducing Eicher electric buses in their operations under the PM E-Bus Sewa Scheme. These buses are built on reliable technology and have already clocked 1.4 crore kms across India. It is a matter of pride for us that these buses will operate in the state of Madhya Pradesh which has been home to Eicher Trucks and Buses for over four decades.' The PM e-Bus Sewa scheme aims to deploy 10,000 electric buses across India. In FY25, Convergence Energy Services Limited (CESL) issued a tender for 4,588 buses under this scheme. The electric buses offered by GreenCell Mobility include features such as a driving range of over 250 kilometres per charge, fast charging, AI-based energy management, CCTV surveillance, real-time tracking, air suspension, low noise levels, and advanced safety systems, the company said.
Time of India
14-05-2025
- Automotive
- Time of India
GreenCell to deploy 1,222 e-buses in MP, Andhra under PM E-Bus Sewa Scheme
New Delhi: GreenCell Mobility has received the Letter of Award (LoA) for the supply and deployment of 472 Eicher electric buses in Madhya Pradesh under the PM E-Bus Sewa Scheme . In addition, the company has been selected to deploy 750 electric buses across 11 cities in Andhra Pradesh in partnership with Pinnacle Mobility Solutions (EKA Mobility), bringing the total order to 1,222 buses. For the Madhya Pradesh project, GreenCell Mobility has partnered with VE Commercial Vehicles (VECV) to introduce electric buses in six cities across the state. In Andhra Pradesh, GreenCell will work with EKA Mobility for the supply and deployment of the 750 buses. GreenCell Mobility is backed by Eversource Capital and currently operates 900 electric buses across Uttar Pradesh, Gujarat, and Maharashtra. With the new projects, the company will expand its footprint to Madhya Pradesh and Andhra Pradesh. The company is also developing the required charging infrastructure for these deployments. Commenting on the development, Devndra Chawla, MD & CEO, GreenCell Mobility, said, 'GreenCell Mobility is honored to collaborate with the Governments of Andhra Pradesh and Madhya Pradesh to support the state's transition to sustainable public transport . These projects are a major milestone in our mission to transform mass mobility through zero-emission electric buses. Backed by strategic partnerships with leading OEMs and a robust financing model, we are committed to making clean, efficient public transportation accessible throughout India's growing cities—while delivering a safe, reliable, and superior guest experience.' Vinod Aggarwal, MD & CEO, VE Commercial Vehicles, said, 'We are delighted to take the next step with GreenCell Mobility by introducing Eicher electric buses in their operations under the PM E-Bus Seva Scheme. These buses are built on reliable technology and have already clocked 1.4 crore kms across India. It is a matter of pride for us that these buses will operate in the state of Madhya Pradesh which has been home to Eicher Trucks and Buses for over four decades. We thank the Government of Madhya Pradesh and GreenCell Mobility for partnering with us to introduce eco-friendly public transportation.' Dr. Sudhir Mehta, Founder & Chairman of EKA Mobility & Pinnacle Industries Limited, said, 'We are proud to partner with the Government of Andhra Pradesh and collaborate with GreenCell Mobility to deliver green, smart, and efficient transportation solutions for the people of the state. This partnership marks a significant step toward building smarter, more sustainable cities across India.' The PM E-Bus Sewa Scheme is part of the central government's plan to deploy 10,000 electric buses across the country. In FY 2024-25, Convergence Energy Services Limited (CESL) floated a tender for 4,588 electric buses under the scheme.
