Eicher Motors Declares a Dividend of ₹82/Share
The Board of Directors considered and recommended a final dividend of ₹82 per share for the financial year ended March 31, 2026. The dividend is subject to approval by shareholders at the ensuing Annual General Meeting.
Full Year FY26 Performance of Eicher Motors
FY26 was by every measure the best year in Eicher Motors' history. Consolidated revenue from operations for the full year stood at ₹23,407.56 crore, up 24% on an annual basis from ₹18,870.35 crore in FY25. Other income for the year stood at ₹1,486.53 crore, taking total income to ₹24,894.09 crore compared to ₹20,175.25 crore in FY25.
Total expenses for FY26 stood at ₹18,534.39 crore against ₹14,941.99 crore in FY25.
PBT for the year stood at ₹7,102.06 crore, up 19.7% on an annual basis from ₹5,933.07 crore in FY25. PAT for FY26 came in at ₹5,515.23.23 crore, up 17% on an annual basis from ₹4,734.44 crore in FY25. EBITDA for the full year stood at ₹5,785 crore, up 23% on an annual basis.
Royal Enfield recorded its highest-ever annual sales, crossing 1.2 million units in FY26: the second consecutive year of crossing the 1 million mark. Total volumes stood at 12,27,977 units, up 22% YoY. Domestic sales grew 23% to 11,07,343 units, while international volumes grew 20% with 1,20,634 motorcycles exported. Royal Enfield commands an 87% market share in the mid-size motorcycle segment in India, as per SIAM data for FY26. Its share in the domestic motorcycle market overall has grown to 8.4% in FY26 from 3% in FY15, and its share of the over-125cc motorcycle segment stands at 31.4%.
VECV reported its highest-ever revenue from operations of ₹27,076.6 crore, a 15% growth over FY25. VECV's EBITDA stood at ₹2,562.6 crore and PAT rose to ₹1,471 crore. VECV sold 1,03,404 units in FY26, growing 14.7% over FY25, crossing the 1,00,000-unit sales milestone for the first time — outpacing the CV industry growth of 13%.
Recent Developments
VECV has announced plans to manufacture Volvo Group's 12-speed Automated Manual Transmission (AMT) in India, with an investment of ₹544 crore (576 million Swedish Krona) at a greenfield facility in Vikram Udyogpuri Integrated Industrial Township, Madhya Pradesh. The new AMT plant will have an initial capacity of 40,000 units per annum and will serve Eicher HD customers in India as well as Volvo Group in India and select markets in the Asia-Oceania region.
VECV also inaugurated a new axle assembly plant spread across 12,228 sq m, with capacity aligned with Eicher Trucks and Buses production. The plant features an all-women SCV axle line and offers a total range of 237 axle variants across SCV, LD, MD and HD segments.
On the two-wheeler side, Royal Enfield entered the electric mobility space in April '26 with the launch of the Flying Flea C6, marking a significant step in the brand's global ambitions during its 125th anniversary year. VECV also introduced 106 new products in FY26 and won 7 Apollo CV Awards, including the prestigious "CV Transport Solution Provider of the Year."
Management Commentary
B. Govindarajan, Managing Director of Eicher Motors Limited and Chief Executive Officer of Royal Enfield, said FY26 has been an exceptional year, marked by strong growth, record volumes, and continued focus on global ambitions during the brand's 125th anniversary. He noted that Royal Enfield achieved over one million motorcycle sales for the second consecutive year, recorded its best-ever festive season, and marked a major milestone in April '26 with the entry into the electric mobility space via the Flying Flea C6. He added that the company has committed to significant investments including the brownfield capacity expansion at Cheyyar with ₹958 crore and a strategic expansion plan at Tada in Andhra Pradesh, both aimed at building future-ready capacity.
B. Srinivas, Managing Director and CEO of VECV, said crossing the milestone of 1,00,000 vehicles in a year is a significant achievement and fulfills a key part of the original vision set at the inception of the Volvo-Eicher joint venture. He added that VECV launched several innovative solutions during the year, including the Eicher Pro X Small Truck, a 12-metre Eicher electric intercity coach, electric Tarmac Buses, and the Volvo FM LNG Road Train for long haul logistics.
About Eicher Motors Limited
Eicher Motors Limited is the listed parent company of Royal Enfield, the global leader in the middleweight motorcycle segment (250cc to 750cc). Royal Enfield has been making motorcycles since 1901, making it the world's oldest motorcycle brand in continuous production. The company operates in India and over 65 countries, with modern development facilities in Leicestershire, UK, and Chennai, India. In addition to motorcycles, Eicher Motors holds a joint venture with Sweden's Volvo Group through VE Commercial Vehicles Limited, which drives modernisation in India's commercial vehicle space. VECV covers the complete range of Eicher-branded trucks and buses, Volvo trucks in India, engine manufacturing and exports for the Volvo Group, and non-automotive engines.
