EICHERMOT

May 22 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS Q4 CONSOL NET PROFIT 15.2 BILLION RUPEES; IBES EST. 14.87 BILLION RUPEES

• EICHER MOTORS - DIVIDEND 82 RUPEES PER SHARE

• EICHER MOTORS Q4 CONSOL TOTAL REV FROM OPS 60.8 BLN RUPEES; IBES EST. 59.98 BLN RUPEES

Further company coverage: EICH.NS

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May 21 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS - INVESTMENT OF UP TO 7.5 BILLION RUPEES IN VOLVO FINANCIAL SERVICES (INDIA)

• EICHER MOTORS - FORMATION OF JV FOR UNDERTAKING BUSINESS OF PROVIDING FINANCIAL SERVICES IN INDIA

Source: https://nsearchives.nseindia.com/corporate/EICHERMOT_21052026174457_EMLPressReleaseVEFSAnnouncementSigned.pdf

Further company coverage: EICH.NS

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May 19 (Reuters) - India is considering incentives exceeding $1 billion to spur private-sector adoption of electric buses and trucks, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Reuters could not immediately verify the report.

(Reporting by Carlos Méndez in Mexico City)

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May 18 (Reuters) - Eicher Motors Ltd EICH.NS:

• GOVERNMENT OF ANDHRA PRADESH HAS APPROVED A LAND PARCEL OF 215.7 ACRES AT TADA

• INVESTMENT REQUIRED UPTO 25 BILLION RUPEES

• GOVERNMENT OF ANDHRA PRADESH APPROVED LAND PARCEL FOR PROPOSED GREENFIELD EXPANSION OF CO

Further company coverage: EICH.NS

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May 7 (Reuters) - Indian bike maker Royal Enfield plans to invest about 22 billion rupees ($232.24 million) to set up a manufacturing plant in the southern state of Andhra Pradesh, it said on Thursday.

• The Eicher Motors EICH.NS unit will establish the facility in two phases, with the first phase expected to be completed by 2029, and the second slated for 2032.

• The plant will add around 900,000 units to its current annual capacity of around 1.46 million units, as of end-February.

• Andhra Pradesh has drawn investments from Alphabet's GOOGL.O Google, Reliance Industries RELI.NS and Adani Group ADEL.NS, among others.

• Royal Enfield's project is expected to generate roughly 5,000 direct and indirect jobs.

• The investment marks the bike maker's first major manufacturing expansion outside Tamil Nadu state, the firm said.

($1 = 94.7300 Indian rupees)

(Reporting by Bipasha Dey in Bengaluru; Editing by Sonia Cheema)

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Rewrites throughout with industry executive's comments, background

By Kashish Tandon

BENGALURU, May 5 (Reuters) - India's auto dealerships are bracing for potential ripple effects from the ongoing Middle East conflict on fuel prices and supply chains, a senior industry official said on Tuesday, after retail vehicle sales hit a record for April.

Disruptions linked to the conflict have been limited so far in the world's third-largest car market, but could start affecting auto part supplies over the coming months if the instability persists, Sai Giridhar, vice president of the Federation of Automobile Dealers Associations, said in an interview.

"There have been some instances of supply getting disrupted, particularly in parts shipments coming from Europe, mainly in the after-market and service side," Giridhar said.

While the impact is not broad‑based, the repercussions could last for a few months even if the conflict were to end, he said.

The comments reflect wider concerns about a prolonged Iran war and the consequent energy shock hitting growth and raising inflation in the world's most populous country. Industry leader Maruti Suzuki MRTI.NS has warned it could raise prices as the war pushes up commodity costs.

India's auto sector has been in a good spot over the last few months, as last September's tax cuts have made cars more affordable, with easier financing conditions and strong demand from towns and rural areas.

However, margins are likely to come under pressure, analysts have said, as rising steel, aluminium and freight costs tied to the war hit the bottomline.

For now, a potential sharp rise in fuel prices remains a key risk for consumer sentiment, Giridhar said.

Indian state refiners have raised prices of liquefied petroleum gas for industrial customers and jet fuel sold to foreign carriers, but prices of gasoline, diesel and cooking gas have not been raised for domestic customers.

Overall retail vehicle sales in April rose 12.9% year-over-year to a record high of 2.6 million units for that month, data released by the auto body showed.

Car sales in rural India jumped 20.4%, nearly three times the urban growth of 7.1%, driven in part by a revival in small-car sales.

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala and Dhanya Skariachan)

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April 14 (Reuters) - India's auto industry body on Tuesday flagged concerns on the possible adverse impact of the Middle East war on automotive production, input and fuel prices, and freight rates.

Here are some key details:

• The West Asia conflict is expected to pose short-term challenges for the auto industry, Shailesh Chandra, president of Society of Indian Automobile Manufacturers (SIAM), said.

• Uncertainties arising from the West Asia conflict, particularly prices of crude oil and commodities, higher exchange rates and disruptions in shipping routes, remain a concern for the auto sector, the industry body said.

• In the near term, the conflict may weigh on export volumes, and the evolving situation reinforces the need for calibrated supply chains and diversification of energy inputs, analysts at Antique Stock Broking said.

• In the entry-level segment in April so far, buyer enquiries are strong, but converting them to sales is taking longer, the SIAM president said.

• Car sales by manufacturers to dealers in the world's third-largest car market rose 7.9% to 4.6 million units in the financial year 2026, industry data showed, compared to the previous fiscal year's 2%, as consumer sentiment improved due to tax cuts.

• In September 2025, India slashed taxes on larger SUVs to 40% as an additional levy was dropped and on small cars and two-wheelers to 18% from 28%, helping support demand across segments.

• Total domestic two-wheeler sales in the financial year 2026 rose 10.7% on-year compared to 9.1% growth last year, the industry data showed.

(Reporting by Aditi Shah and Anuran Sadhu; Editing by Harikrishnan Nair)

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** Shares of India's Eicher Motors EICH.NS jump 3.34% to 7,386 rupees

** Benchmark Nifty 50 .NSEI up 1.05%

** Co's motorcycle unit Royal Enfield launched its first electric motorcycle, priced at 279,000 rupees ($3,010.29)

** Nomura ("neutral", TP: 7,827 rupees) says model showcases innovative technologies, estimates vols of about 500-1,000 units/month, with gross margins likely to be positive

** However, brokerage notes that the model is unlikely to be mainstream

** EICH rated "buy" on average by 32 analysts, median PT of 7,850 rupees - LSEG data

** YTD, EICH flat vs Nifty 50's more than 8% decline

($1 = 92.6820 Indian rupees)

(Reporting by Bipasha Dey in Bengaluru)

((Bipasha.Dey@thomsonreuters.com;))

April 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS - TOTAL VECV SALES FOR MARCH 2026 AT 13,311

Source text: ID:nBSECcsws

Further company coverage: EICH.NS

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March 13 (Reuters) - India's domestic car dispatches to dealers rose for the fifth straight month in February, data from an industry body showed on Friday, helped by tax cuts that have lowered prices across most models.

"While the month of March has festive drivers... the recent conflict in West Asia remains a concern... could impact the manufacturing processes and exports," Rajesh Menon, Director General of Society of Indian Automobile Manufacturers (SIAM), said.

Here are some key details:

• Passenger vehicle dispatches jumped 10.6% to 417,705 units in February, compared with 377,689 units a year earlier.

• Tax reductions continue to fuel growth, extending momentum for fifth consecutive month.

• In September 2025, India slashed taxes on larger SUVs to 40% as an additional levy was dropped and on small cars and two-wheelers to 18% from 28%, helping support demand across segments.

• Vehicle sales picked up during the ongoing wedding season, supported by strong bookings, inventory build-up and new model launches.

• Domestic demand is expected to remain strong, though exports could soften on reduced shipments to Africa and the Middle East, analysts added.

• SIAM warns the ongoing Middle East crisis could hit production and exports if supply chains are disrupted.

• A shortage of gas - crucial for paint shops and component manufacturing - may affect production, analysts said, though they expect only near-term impact on Indian manufacturers due to inventory buffers.

• Domestic demand to stay robust but exports could weaken due to reduced shipments to Africa and the Middle East- Axis Capital

• India, the world's third-biggest car market, has an auto industry that accounts for 7.1% of its GDP.

• Tax cut-driven growth is likely to sustain for several quarters, a dealer's body said last week.

(Reporting by Meenakshi Maidas and Urvi Dugar in Bengaluru)

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March 10 (Reuters) - Eicher Motors Ltd EICH.NS:

• VE COMMERCIAL VEHICLES APPOINTS B SRINIVAS AS MANAGING DIRECTOR AND CEO

Source text: ID:nBSE2d7Wn4

Further company coverage: EICH.NS

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Feb 11 (Reuters) - Shares of Eicher Motors EICH.NS jumped over 4% on Wednesday as Indian automaker's plans to boost capacity raised prospects of continued growth momentum in its mainstay Royal Enfield motorcycles business.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)

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Feb 10 (Reuters) - Indian automaker Eicher Motors EICH.NS reported a bigger-than-expected quarterly profit on Tuesday, helped by strong domestic sales of its Royal Enfield motorcycles.

The Himalayan 450 adventure bike manufacturer posted a consolidated net profit of 14.21 billion rupees ($156.93 million), up from 11.71 billion rupees a year before and topped analysts' estimate of 13.95 billion rupees, per data compiled by LSEG.

Eicher's results included a one-time charge of 554.5 million rupees tied to India's new labour codes that were enacted in November.

($1 = 90.5490 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)

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** Shares of Eicher Motors EICH.NS fall 1.6% to 7,286.50 rupees

** Investec downgrades Royal Enfield motorcycles maker to "sell" from "hold", citing slowing sales momentum beyond FY26 and lofty valuations

** Brokerage says EICH faces multiple headwinds going forward, with rival premium motorcycle brands Triumph and Jawa expanding retail presence, and a tariff hike in key export market of Mexico

** EICH currently valued at 33x FY27 EPS vs 5-year average of 28x; Investec reduces target multiple to 27x from 30x, citing slowing earnings growth

** Analysts tracking stock rate it "buy" on avg - data compiled by LSEG

** EICH jumped 52% in 2025, helped by strong domestic sales of its 350 cc motorcycles which were given an affordability boost from India's sweeping tax cuts

(Reporting by Nandan Mandayam in Bengaluru)

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Jan 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,99,216 UNITS

• SIAM - LOOKING AHEAD, INDUSTRY EXPECTS POSITIVE MOMENTUM TO CONTINUE WELL INTO 2026

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC DOMESTIC 3-WHEELER SALES 61,924 UNITS

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC DOMESTIC 2-WHEELER SALES 15,41,036 UNITS

• SIAM - WHILE REMAINING WATCHFUL OF GEOPOLITICAL DEVELOPMENTS, INDUSTRY EXPECTS FY2025–26 TO CLOSE ON POSITIVE GROWTH TRAJECTORY

Source text: [ID:]

Further company coverage: ASOK.NS

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Jan 6 (Reuters) - INDIA AUTODEALERS BODY FADA:

• DEC’25 AUTO RETAIL AT 20,28,821 UNITS

• DEALER SENTIMENT REMAINS FIRMLY POSITIVE, WITH OUR SURVEY INDICATING 70.48% EXPECTING GROWTH

• OVER NEXT 3 MONTHS, RETAIL OUTLOOK REMAINS DECISIVELY UPBEAT

• DEC’25 AUTO RETAIL UP 14.63% YOY

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Jan 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• ROYAL ENFIELD DECEMBER SALES UP 30% TO 103,574 UNITS

Source text: ID:nBSE6r77cZ

Further company coverage: EICH.NS

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** Royal Enfield motorcycle maker Eicher Motors' EICH.NS set for its best year since 2014, up 49% YTD

** In September, India lowered the effective tax paid on various categories of cars and motorcycles

** Tax cuts and supportive fiscal, monetary policy to be tailwinds for EICH - analysts say

** In Q2, Royal Enfield's overseas shipments, typically more profitable than domestic sales, jumped 55.1%, helped by expansions into newer geographies this year

** Shares largely flat on Wednesday at xx rupees

** Average rating by 33 analysts on stock is 'hold'; median PT is 7,152 rupees - data compiled by LSEG

** EICH is the third highest weighted stock on Nifty Auto index .NIFTYAUTO which is up 23% YTD

(Reporting by Brijesh Patel in Bengaluru)

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Adds details and background from paragraph 3

Nov 13 (Reuters) - India's Eicher Motors EICH.NS, maker of Royal Enfield motorcycles, reported higher second-quarter profit on Thursday, riding on a jump in sales both domestically and outside the country.

The company said its consolidated net profit rose 24.5% year-on-year to 13.69 billion rupees ($155.75 million) in the three months to September 30.

Royal Enfield recorded its highest jump in motorcycle sales in more than three years, rising 43.2% year-over-year.

Eicher Motors, which leads motorcycle sales in the premium category in India, logged a 26.8% increase in sales of motorcycles with engine capacity above 350cc, such as the 'Himalayan', indicating strong consumer appetite for premium and higher margin bikes.

Royal Enfield's overseas shipments, typically more profitable than domestic sales, jumped 55.1%, helped by expansions into newer geographies this year.

Industry-wide two-wheeler sales in India rose 7.4% in the quarter ended September, helped by a boost in demand during the local Navratri and Diwali festivals.

Momentum was further supported by recent consumption tax cuts on motorcycles upto 350cc, which supported demand for both entry-level and premium models.

Sales of models with upto 350cc engine capacity like 'Meteor 350', which make up 86.5% of total motorcycle sales for the company registered growth of 46.2%.

Eicher, which also makes trucks and buses in a joint venture with Volvo Group, said total revenue from operations rose 44.8% to 61.72 billion rupees.

Rival Bajaj Auto BAJA.NS reported a 23.7% rise in quarterly profit helped by higher exports last week, while Hero Motocorp HROM.NS will report its quarterly results later in the day.

($1 = 87.8950 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Ronojoy Mazumdar)

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Oct 1 (Reuters) - Eicher Motors EICH.NS:

• SEPT TOTAL VECV SALES 7,619 UNITS

Source text: ID:nnAZN4LP0GQ

Further company coverage: EICH.NS

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Adds analysts comments, updates shares

Sept 4 (Reuters) - India's auto stocks .NIFTYAUTO jumped as much as 3.7% to the highest level in nearly 11 months on Thursday after the government slashed consumption taxes, with analysts predicting a demand boost for the sector.

Auto shares were last up 1.9% to lead sectoral gains on the benchmark Nifty 50 .NSEI index, which was trading 0.6% higher.

Mahindra & Mahindra MAHM.NS and Eicher Motors EICH.NS both notched record highs and led gains on the auto index. Mahindra, up 6%, was the top gainer on the Nifty.

Late on Wednesday, the Goods and Services Tax Council approved lower taxes on hundreds of consumer items ranging from soaps to small cars to spur domestic demand in the face of steep U.S. tariffs.

The GST on small cars, motorcycles, buses, trucks and ambulances has been reduced to 18% from 28%.

"The total tax on all auto categories will decrease, benefiting all players," boosting overall demand, analysts Basudeb Banerjee and Rishi Kapadia at CLSA said in a note.

The effective tax on large-engine capacity cars and SUVs was lowered to 40%, as an additional levy was dropped.

Jefferies analysts said this is a "surprise win" for Mahindra as majority of its portfolio includes SUVs.

Peer Eicher is a key beneficiary from the tax cuts on tractors, which comprise 80% of its portfolio, the analysts said.

(Reporting by Manvi Pant; Editing by Sonia Cheema and Mrigank Dhaniwala)

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Sept 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS LTD - ROYAL ENFIELD REPORTS 1,14,002 MOTORCYCLE SALES IN AUGUST

Source text: ID:nBSE2qPN1T

Further company coverage: EICH.NS

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Adds broader context, stock market reaction paragraph 1-2, 4-7

By Nikunj Ohri and Aftab Ahmed

NEW DELHI, Aug 18 (Reuters) - India aims to slash taxes on small cars and insurance premiums as part of a sweeping reform of its goods and services tax (GST), a government source said on Monday, as Prime Minister Narendra Modi's plan sparked a rally in stock markets.

Modi's administration revealed plans of the biggest tax overhaul since 2017 over the weekend, and consumer, auto and insurance companies are likely to emerge as the biggest winners when product prices drop from October, once the reform is approved.

The federal government has suggested lowering GST on small petrol and diesel cars to 18% from the current 28%, said the source who is directly involved in the matter. The GST on health and life insurance premiums may also be lowered to 5% or even zero from 18% currently, the same source said.

Indian markets climbed on Monday, with the benchmark Nifty index trading 1.3% higher, on course for its best day in three months. Auto stocks also rallied.

The tax cuts "would enhance affordability, boost consumption, and make essential and aspirational goods more accessible to a wider population," Mahesh Nandurkar, equity analyst at Jefferies said in a note.

"Maruti (Suzuki) should be the biggest beneficiary of this potential cut," he added.

Modi's deep tax cuts will strain government revenues but are winning praise from businesses and political pundits who say they will bolster his image in an ongoing trade fight with Washington.

Federal government officials over the weekend said New Delhi has proposed only two rates of taxation -- 5% and 18% -- under the revamped structure. The highest 28% slab will be abolished.

The new proposal however will impose a 40% tax on 5-7 "sin-goods" like tobacco products and luxury items.

The announcement will not be effective until the GST Council, which is chaired by the federal finance minister and has representatives from all states, gives a nod. A meeting is expected by October.

India's finance ministry did not reply to an e-mail seeking comment.

SHARES ZOOM

Sales of small cars, defined as those having engine capacity below 1200cc for petrol vehicles and 1500cc for diesel and not exceeding 4 metres in length, have slowed over the last few years as buyers switched to bigger, feature-rich SUVs.

Small cars made up a third of the 4.3 million passenger vehicles sold in the world's third-largest automobile market last fiscal year, down from nearly 50% pre-COVID, industry data showed.

The tax cut will be a big win for Maruti MRTI.NS, whose market share has plunged to about 40% from over 50% in the last five years as sales of its small cars such as Alto, Dzire and Wagon-R dropped.

The segment makes up half of all cars sold by Maruti - majority-owned by Japan's Suzuki Motor 7269.T. Carmakers Hyundai Motor India HYUN.NS and Tata Motors TAMO.NS also stand to gain.

Cars with higher engine capacity that currently attract 28% GST and an additional levy of up to 22% - resulting in total taxes of about 50% - may come under a new special rate of 40%, the source said.

The government source added that details are being firmed up to consider if any extra levies should be imposed over the 40% to keep the overall tax incidence for big cars the same at 43%-50%.

On the other hand insurance penetration in India continues to remain low, at 3.8% of GDP, in 2024, according to research firm Swiss Re Institute. The companies believe the lowering of GST will help boost sales of insurance products.

Shares of automakers such as Maruti, Mahindra & Mahindra MAHM.NS, Hero MotoCorp HROM.NS, Bajaj Auto BAJA.NS and Eicher Motors EICH.NS jumped 2%-8% in morning trade. Shares of insurance companies such as ICICI Prudential ICIR.NS, SBI Life SBIL.NS, and LIC LIFI.NS jumped 2%-4%.

(Reporting by Nikunj Ohri; Editing by Aditya Kalra and Raju Gopalakrishnan)

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Aug 7 (Reuters) - India's upcoming festive season is expected to lift near-term sentiment among auto dealers, but U.S. tariffs could dent consumer confidence, prompting higher household savings and weighing on discretionary spending, including vehicles, the Federation of Automobile Dealers Association (FADA) said on Thursday.

Vehicle dealers expect major festivals, including Rakhi, Janmashtami, Independence Day and Ganesh Chaturthi, along with targeted promotional schemes and healthy stock levels to drive sales.

However, the anticipated wealth erosion from fresh tariffs by the U.S. could erode consumer confidence, trigger a precautionary rise in household savings and exert pressure on discretionary spending, including on vehicles, FADA said.

(Reporting by Chandini Monnappa in Bengaluru; Editing by Sonia Cheema)

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Aug 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• JULY TOTAL MOTORCYCLE SALES AT 88,045 UNITS

Source text: ID:nBSEZbLZm

Further company coverage: EICH.NS

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July 31 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS Q1 CONSOL NET PROFIT 12.05 BILLION RUPEES; IBES EST. 11.17 BILLION RUPEES

• EICHER MOTORS Q1 CONSOL TOTAL REVENUE FROM OPERATIONS 50.42 BILLION RUPEES; IBES EST. 49.35 BILLION RUPEES

Source text: [ID:]

Further company coverage: EICH.NS

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July 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• JUNE TOTAL MOTORCYCLE SALES AT 89,540 UNITS

Source text: ID:nnAZN42E8CW

Further company coverage: EICH.NS

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Adds details and background from paragraph 3

May 14 (Reuters) - India's Eicher Motors, EICH.NS, maker of Royal Enfield motorcycles, beat fourth-quarter profit estimates on Wednesday, helped by strong demand for its higher-capacity motorcycles along with elevated exports.

The company's net profit came in at 13.62 billion rupees ($159.75 million) in the three months ended March 31, compared to 12 analysts' average estimate of 12.68 billion rupees, as per data compiled by LSEG.

Sales of motorcycles with engine capacity above 350cc, such as the 'Himalayan', rose about 42% compared to a 20.4% growth the year before, reflecting growing interest in the premium segment. These models start at around 250,000 rupees.

Sales of these higher-priced, margin-boosting motorcycles accounted for 13.8% of total fourth-quarter sales, up from 12.1% in the same period a year ago.

Meanwhile, its exports grew more than 42% and made up 11.6% of total sales, as the company expanded its network into countries such as Bangladesh, although the Americas remained its largest oversease market.

The company's total revenue from operations rose 23.2% to 52.41 billion rupees, edging past 13 analysts' estimates of 52.14 billion rupees.

Meanwhile, expenses rose 27% to 42 billion rupees, with raw material and component costs - accounting for more than half of the total - rising 24%.

Rival Bajaj Auto BAJA.NS is yet to report its quarterly results, while Hero MotoCorp HROM.NS missed profit estimates on Tuesday.

($1 = 85.2590 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Mrigank Dhaniwala and Varun H K)

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May 1 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS LTD - VECV REPORTS TOTAL SALES VOLUME OF 6,846 UNITS FOR APRIL

Further company coverage: EICH.NS

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