Automobile firm Eicher Motors on Thursday posted a 48 per cent rise in net profit for the fourth quarter of Financial Year 2022-23 (Q4 FY23) at Rs 906 crore, compared to Rs 610 crore the same period last year and driven by more sales and revenue.
The parent company of Royal Enfield motorcycles posted the highest-ever revenue from operations: at Rs 3,804 crore and up 19.1 per cent compared to Rs 3,193 crore in the corresponding quarter of FY22. EBITDA was Rs 934 crore in Q4 FY23, up 23.3 per cent compared to Rs 757 crore in the same quarter of the previous financial year. Royal Enfield sold 214,685 motorcycles in Q4 FY23, up 17.9 per cent from 182,125 in the corresponding quarter of FY22.
For the entire FY23, Eicher Motors recorded its highest ever total revenue from operations, net profit and EBITDA. The company has planned capital expenditure of Rs 1,000 crore for the current financial year, including investments for an EV manufacturing facility, product development and new products under internal combustion engine portfolio.
The company’s profit after tax was Rs 2,914 crore in FY23, up 73.8 per cent compared to Rs 1,677 crore for the same period last year. Total revenue from operations was Rs 14,442 crore during the year under review, up 40.2 per cent as compared to Rs 10,298 crore recorded for FY 2021-22. EBITDA was at Rs 3,444 crore, up by 58.5 per cent as compared to Rs 2,172 crore in FY22.
“We have registered our best-ever sales performance of t 834,895 units (up by 38.4 per cent from 6,02,268 in FY 2021-22) and up from the previous best performance in 2018-19. During the year, Royal Enfield also crossed the 100,000 export shipments milestone for the first time,” said Siddhartha Lal, managing director of Eicher Motors.
“We launched the Hunter 350 and the Super Meteor 650 this year. They are doing extremely well in India and international markets. We also completed 15 years of joint venture with Volvo,” he said, referring to motorcycles.
Also Read
Volvo Eicher Commercial Vehicles (VECV) in Q4 FY23 posted a 222 per cent rise in profit after tax at Rs 319 crore, up from Rs 99 crore the previous year. VECV also recorded its highest ever quarterly revenue from operations at Rs 6,200 crore, up 43.9 per cent from Rs 4,307 crore in the corresponding period of FY 2021-22. EBITDA was Rs 619 crore, up 114.7 per cent from Rs 288 crore. VECV in Q4 FY23 recorded the highest-ever quarterly sales of 26,376 units, up 31.3 per cent from 20,093 units sold during the same period last year.
For the entire FY23, VECV’s net profit was seen at Rs 581 crore, up from Rs 111 crore in 2021-22. VECV’s revenue from operations was Rs 18,952 crore, up by 48.9 per cent over the previous year’s revenue of Rs 12,724 crore.
Eicher’s board of directors recommended a final dividend aggregating to Rs 1,011.88 crore (34.7 per cent of PAT) at Rs 37 per share (nominal value of Rs 1 per share) for the financial year ended March 31. The dividend per share is the highest ever for EML and it is 76.2 per cent higher than the FY 2022 payout.
Eicher Motors
- NSE
- BSE
- 1D
- 5D
- 1M
- 3M
- 6M
- 5Y
