Eicher Motors Q3 Results: Revenue, margin beat estimates; profit rises 21% YoY

Eicher Motors Ltd delivered a solid performance in the December quarter on February 10, reporting results that exceeded CNBC-TV18 estimates across key parameters, aided by strong volume growth and operating leverage.

The company’s consolidated revenue rose 23% year-on-year to ₹6,114 crore, higher than the CNBC-TV18 poll estimate of ₹6,050 crore.

EBITDA increased 29.6% to ₹1,556.5 crore from ₹1,201 crore a year earlier, also ahead of estimates of ₹1,494 crore. As a result, EBITDA margin expanded to 25.5%

from 24.2% in the year-ago period, beating the poll forecast of 24.7%.

Net profit for the quarter climbed 21.3% year-on-year to ₹1,420 crore, compared with ₹1,171 crore in the corresponding quarter last year and above the estimate of ₹1,380 crore.

Separately, the company announced plans to expand its motorcycle manufacturing capacity through a brownfield investment at its Cheyyar plant in Tamil Nadu. Eicher Motors currently has an installed capacity of around 14.6 lakh Royal Enfield motorcycle units per year across all plants, with utilisation levels close to full capacity.

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Following the expansion, total capacity — including the proposed addition — will rise to up to 20 lakh motorcycle units per year. The ramp-up is expected to begin in a phased manner from the first quarter of FY27 and be completed by FY28. The estimated investment for the expansion stands at ₹958 crore.

Ahead of the earnings announcement, shares of Eicher Motors closed 1.3% higher at ₹7,290.50 on the NSE.