Royal Enfield's parent company Eicher Motors Limited (EML) has released its financial results for the fourth quarter of Financial Year 2021-22. Between January and March 2022, the company saw a profit after tax (PAT) of Rs. 610 crore, a growth of 16 per cent compared to the Rs. 526 crore profit achieved in achieved during the same period in FY2021. During the quarter that ended on March 31, 2022, Eicher Motors also registered an all-time high revenue of Rs. 3,193 crore, up 8.6 per cent as compared to Rs. 2,940 crore in the corresponding quarter of FY 2020-21. The company's motorcycle brand, Royal Enfield, at the same time, sold 182,125 units, a decline of 10 per cent compared to the 203,343 motorcycles sold during the same period in FY 2021.
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As for the entire financial year, during the April 2021 to March 2022 period, Eicher Motors' PAT stood at Rs. 1,677 crore, up by 24.5 per cent as compared to Rs. 1,347 crore profit achieved for the same period last year. The company's total revenue from operations was at an all-time high of Rs. 10,298 crore up by 18.1 per cent as compared to Rs. 8,720 crore recorded for FY 2020-21. The company claims that the growth was aided by Royal Enfield's strong performance in international markets.
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Between April 2021 and March 2022, Eicher Motors' PAT stood at Rs. 1,677 crore, up by 24.5 per cent as compared to Rs. 1,347 crore profit achieved for the same period last year
Talking about Eicher Motors' performance through the year, Siddhartha Lal, Managing Director, Eicher Motors Ltd., said, "The year gone by was very significant for Eicher Motors Limited, as we registered considerable progress towards our long-term strategic business vision. Over the last eight years, we have made concerted efforts in becoming a premium, global player, concentrating on some of the toughest motorcycle markets in the world, with an ambition to sustainably grow our overseas presence and business. Through a strong product strategy and development process and with a focused business approach, we have carved a space for ourselves globally. During this year, our international markets growth story showed stellar performance with more than 100 per cent growth YoY as we continued to deliver sustained results in the domestic market."
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For the financial year that ended on March 31, 2022, Volvo Eicher Commercial Vehicles (VECV) reported nearly 47 per cent growth in its revenue at Rs. 12,724 crore, as against the Rs. 8.676 crore revenue was achieved in FY2021. The company saw a nearly 2-fold growth in profit of Rs. 111 crore, as compared to the Rs. 57 crore profit seen in FY2021. Between April 2021 and March 2022, the company sold 57,077 vehicles, marking a growth of 38 per cent compared to the 41,268 vehicles sold in FY 2020-21.
During the last financial year, Royal Enfield also added two new models to its portfolio - the new-gen Classic 350 and the Himalayan Scram 411
Royal Enfield strengthened its global presence by adding two new local assembly units in Colombia and Thailand. The company already has a CKD unit in Buenos Aires, Argentina. In addition to catering to local market requirements, the assembly units are designed to act as nodal hubs for all other countries in Latin America and South-East Asia. Royal Enfield also expanded its international footprint and commenced operations in Singapore and the Netherlands with the launch of standalone, flagship stores, and is now present in more than 60 countries across the world.
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During the last financial year, Royal Enfield also added two new models to its portfolio - the new-gen Classic 350 and the Himalayan Scram 411. Talking about the former, Siddhartha Lal said, "Since its launch in 2008, the Royal Enfield Classic 350 has been the most popular motorcycle within our portfolio, and this year we achieved a critical milestone with the transition of the Classic to the all-new J-series platform. The new launch has been a huge success and the Classic continues to remain the highest sold motorcycle in the middleweight segment in India."
Eicher Motors has also announced appointing B. Govindarajan as the new CEO of Royal Enfield and Wholetime Director of EML. Since August 2021, Govindarajan has been serving as the Executive Director of Royal Enfield. He was previously the Chief Operating Officer at RE since 2013.
