Eicher Motors Limited Earnings Summary — Q4 FY2026
Eicher Motors Reports Consistent Earnings with 10% YoY Profit Growth and ₹82 Dividend Recommendation
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue grew 9.1% sequentially in Q1 FY2027.
- Revenue of ₹6,632 Cr is 31.5% higher year-on-year.
- Revenue has compounded at 21.8% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹1,463 Cr is 21.3% above the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 14.9% annualised across the period.
- Operating margin stands at 24.0% in Q1 FY2027.
- Operating margin expanded by 12 bps year-on-year.
- Over the last two years operating margin has contracted by 255 bps.
- PBT margin is 29.0%.
- Expense growth of 31.3% remained below revenue growth of 31.5%.
- Operating profit of ₹1,591 Cr is 32.2% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 75/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 6,632 | 6,080 | 6,114 | 6,172 | 5,042 | 5,241 | 4,973 | 4,263 | 4,393 | 4,256 |
| Expenses | Improving | 5,042 | 4,566 | 4,557 | 4,660 | 3,839 | 3,983 | 3,772 | 3,175 | 3,228 | 3,127 |
| Operating Profit | Improving | 1,591 | 1,514 | 1,557 | 1,512 | 1,203 | 1,258 | 1,201 | 1,088 | 1,165 | 1,129 |
| Operating Margin | Stable | 24.0% | 24.9% | 25.5% | 24.5% | 23.9% | 24.0% | 24.1% | 25.5% | 26.5% | 26.5% |
| Other Income | Improving | 634 | 675 | 465 | 486 | 603 | 628 | 452 | 468 | 457 | 437 |
| Interest | Improving | 22 | 20 | 17 | 19 | 15 | 16 | 13 | 13 | 12 | 15 |
| Depreciation | Improving | 278 | 232 | 211 | 200 | 198 | 201 | 179 | 180 | 169 | 165 |
| Profit Before Tax | Improving | 1,925 | 1,937 | 1,793 | 1,779 | 1,593 | 1,669 | 1,461 | 1,362 | 1,441 | 1,385 |
| Tax | Improving | 463 | 417 | 373 | 410 | 388 | 307 | 290 | 262 | 340 | 315 |
| Net Profit | Improving | 1,463 | 1,520 | 1,421 | 1,369 | 1,205 | 1,362 | 1,171 | 1,100 | 1,101 | 1,070 |
| Net Margin | Stable | 22.1% | 25.0% | 23.2% | 22.2% | 23.9% | 26.0% | 23.5% | 25.8% | 25.1% | 25.1% |
Key Takeaways
- Steady revenue growth of 15.6% YoY driven by Royal Enfield's market position and premiumization strategy.
- Net profit recorded a healthy YoY increase to ₹1,236.33 crore, though it dipped slightly sequentially from Q3.
- Board recommended a final dividend of ₹82 per equity share, up from ₹70 in the previous fiscal year.
- The company recorded a one-time exceptional charge of ₹55.45 crore in the year-to-date figures related to the new Labour Codes.
- Operating margins saw moderate compression due to higher raw material costs and increased other expenses.
- VECV joint venture continues to be a strategic contributor to the consolidated performance, despite the cyclical nature of the CV industry.
- The balance sheet remains robust with total reserves growing to ₹21,780.43 crore and a strong cash position.
Management Guidance
Management maintains a visionary focus on the 250cc-750cc middleweight motorcycle segment globally and continues to monitor the impact of Environment Protection (End-of-Life Vehicles) Rules, 2025.
Sentiment Shift
Stable
The company maintained industry-leading returns and strong profitability despite competitive entries from Bajaj-Triumph and Hero-Harley.
Outlook
Eicher Motors is positioned as a high-quality compounder with an outlook focused on global expansion and maintaining premium margins. Future performance will depend on the absorption of new regulatory costs (ELV and Labour Codes) and the competitive intensity in the premium 2-wheeler space.
From the Annual Report (Key Quotes)
“Approved the audited standalone & consolidated financial results for the fourth quarter and financial year ended March 31, 2026.”
“Recommended final dividend of Rs. 82/- per equity share of face value of Re. 1 each.”
“The Company has provided for an amount of Rs. 55.45 crores, as an exceptional item... arising from the Labour Codes.”
Official Quarterly Documents
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This summary is AI-generated from Eicher Motors Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.