Eicher Motors Q4 Results: Net Profit up 18.20%, EBITDA up 20.88% from Q4FY23

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Synopsis:

Q4FY24 of Eicher Motors saw the company’s EBITDA at ₹1,129 Crores, up 20.88% and PAT at ₹1,070 Crores, up 18.20% from Q4FY23, the Board of Directors have declared a final dividend of ₹51 per share

5 Key Financial Highlights

The fourth quarter of FY24 has proven to be a profitable one for Eicher Motors. Here are some of the main highlights from the Eicher Motors Q4 Results:

  • Q4 Revenue of ₹4,256 Crores, up 11.87% from ₹3,804 Crores in Q4FY23
  • Q4  EBITDA at ₹1,129 Crores, up 20.88% from ₹934 Crores in Q4FY23
  • Q4 PAT at ₹1,070 Crores, up 18.20% from ₹906 Crores in Q4FY23
  • FY24 Revenue at ₹16,536 Crores up 14.50% from ₹14,442 Crores in FY23   
  • FY24 PAT at ₹4,001 Crores up 37.31% from ₹2,914 Crores in FY23

Explore: Eicher Share Price

Key Business Updates:

  • Royal Enfield recorded sales of 227,925 motorcycles in Q4FY24, up 6.17% from 214,685 sales in Q4FY23.  
  • In FY24, Royal Enfield registered motorcycle sales at 9,12,732 up 9% from 834,895 in FY23
  • Royal Enfield launched three big motorcycles in FY24; the new Bullet 350,  the all-new Himalayan, and the Shotgun 650

  • The company also launched new colorways and upgrades on the Meteor 350 and on the Hunter 350. 
  • Royal Enfield unveiled its first-ever electric vehicle design concept - the Electric Himalayan Testbed, at EICMA 2023
  • In FY24 Royal Enfield also established its fifth CKD unit outside India in Nepal 
  • Royal Enfield also launched the industry-first Assured Buyback, and REOWN programmes.
  • Royal Enfield launched the Streetwind Eco Riding Jacket - the first-ever sustainable riding jacket that ensures greater environmental sustainability

Additional Read: Quarterly Results

Profitability Analysis:

Eicher Motors has seen a significant jump in its growth trajectory in its fourth quarter of FY24. Q4 for the company saw revenue of ₹4,256 Crores, up 11.87% from ₹3,804 Crores in Q4FY23, EBITDA at ₹1,129 Crores, up 20.88% from ₹934 Crores in Q4FY23 and PAT at ₹1,070 Crores, up 18.20% from ₹906 Crores in Q4FY23. The entirety of FY24 saw revenue of ₹16,536 Crores up 14.50% from ₹14,442 Crores in FY23, PAT at ₹4,001 Crores up 37.31% from ₹2,914 Crores in FY23 and EBITDA at ₹4,327 Crores up 25.65% from ₹3,444 Crores in FY23. Royal Enfield also reported a 6.17% rise in motorcycle sales in Q4FY24 when compared to Q4FY23 and the whole of FY24 saw a 9% rise in the sales compared to FY23. Eicher Motor’s Board of Directors have also recommended a final dividend of ₹51 per share.  

Major Operational Metrics - Consolidated Q4 (FY2023-24) Financial Results of Eicher Motors (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Total Revenue from operations

4,256.04

4,178.84

3,804.32

16,535.78

14,442.18 

PBT after share of profit of Joint venture 

1,385.01

1,297.88

1,156.35

5,202.02

3,799.63

Net PAT

1,070.45

995.97

905.58

4,001.01

2,913.94

Total Comprehensive income

1,065.48

1,024.30

915.84

3,987.33

2,922.49

The Future of Eicher Motors

It is no doubt that Q4FY24 has been a profitable one for Eicher Motors. With the financial numbers growing since last year’s quarter, the company’s growth trajectory looks like it is traveling in the right direction. With developments like Royal Enfield launching three big motorcycles in FY24; the new Bullet 350,  the all-new Himalayan, and the Shotgun 650 and the launch of new colorways and upgrades on the Meteor 350 and the Hunter 350, Eicher Motors has seen growth in every vertical. The company has also been able to reinforce its position in the Middle East and Africa by appointing the AW Rostamani Group as its official distribution partner in the UAE. To add to this, Eicher Motors also announced its foray into Turkey as they appointed K-Rides Motosiklet ve Bisiklet San. ve Tic. A.Ş. as its official distributor. 

Additional Read: ABB India Q4 Results

Conclusion

The fourth quarter of FY24 has proven to be one of much growth and many developments for the company. Eicher Motors saw growth in revenue, EBITDA and PAT in both Q4FY24 and the entirety of FY24. Along with that the company also saw growth in its sales of Royal Enfield motorcycles for both these periods. Add to this the new launches by the company and the demand for a new EV and FY25 looks like it's going to give a head start to Eicher Motors indeed.   

About The Company:

With origins dating back to 1948, Eicher Motors has grown tremendously in the past many decades to become one of the most popular Indian multinational automotive companies, headquartered in New Delhi. The company is known for manufacturing motorcycles and commercial vehicles and also happens to be the parent company of Royal Enfield, one of the most sought-after motorcycle brands in India.

Additional Read: venkys Q4 Results

Results for the Fourth Quarter Ended March 31, 2024

Sources: 

  1. https://www.bseindia.com/xml-data/corpfiling/AttachLive/f296e41c-9350-4180-b2aa-3af8e80a792b.pdf
  2. https://www.bseindia.com/xml-data/corpfiling/AttachLive/5c85ee5a-5513-4277-ac90-aa9191649c34.pdf
  3. https://en.wikipedia.org/wiki/Eicher_Motors

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Frequently Asked Questions

What was the revenue that Eicher Motors has been able to make in Q4?

Answer Field

Eicher Motors’ Q4 revenue stood at ₹4,256 Crores, up 11.87% from ₹3,804 Crores in Q4FY23, whereas its FY24 revenue was at ₹16,536 Crores up 14.50% from ₹14,442 Crores in FY23.

What are some of the main business updates for Eicher Motors?

Answer Field

Eben with the tremendous growth in financial numbers that the company achieved in Q4FY24 and FY24, Eicher Motors also saw many business updates come to fruition. Here is a list of some of them:

  • Royal Enfield recorded sales of 227,925 motorcycles in Q4FY24, up 6.17% from 214,685 sales in Q4FY23.  

  • In FY24, Royal Enfield registered motorcycle sales at 9,12,732 up 9% from 834,895 in FY23

  • Royal Enfield launched three big motorcycles in FY24; the new Bullet 350,  the all-new Himalayan, and the Shotgun 650

  • The company also launched new colorways and upgrades on the Meteor 350 and on the Hunter 350. 

  • Royal Enfield unveiled its first-ever electric vehicle design concept - the Electric Himalayan Testbed, at EICMA 2023

  • In FY24 Royal Enfield also established its fifth CKD unit outside India in Nepal 

  • Royal Enfield also launched the industry-first Assured Buyback, and REOWN programmes.

  • Royal Enfield launched the Streetwind Eco Riding Jacket - the first-ever sustainable riding jacket that ensures greater environmental sustainability

What was the Q4 and the FY24 PAT for Eicher Motors?

Answer Field

Eicher Motors saw a Q4FY24 PAT at ₹1,070 Crores, up 18.20% from ₹906 Crores in Q4FY23 and its FY24 PAT stood at ₹4,001 Crores up 37.31% from ₹2,914 Crores in FY23.

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