Mumbai: Eicher Motors reported a 17% year-on-year rise in consolidated net profit to ₹1,369.45 crore for Q3 FY26, despite a 3.6% sequential decline. Revenue from operations grew 22.9% YoY to ₹6,114.04 crore. Compared to ₹1,420.61 crore profit in Q2 and ₹1,297.31 crore in Q1, the company's bottom line reflects stable performance amid rising operational costs.
Revenue Momentum Sustained, Margins Under Pressure
Eicher Motors saw its consolidated Q3 revenue rise to ₹6,114 crore, up from ₹4,973 crore in Q3 FY25, indicating strong demand traction for Royal Enfield and commercial vehicle segments. Total income increased to ₹6,522 crore from ₹5,261 crore a year ago. However, net profit dipped sequentially from ₹1,421 crore in Q2 FY26 to ₹1,369 crore in Q3 FY26, weighed down by exceptional provisions and input cost normalization.
Sequential Growth Moderates
Sequentially, revenue dipped 0.9% from ₹6,172 crore in Q2. Expenses eased slightly to ₹4,786 crore from ₹4,878 crore, helping cushion profit. A key drag was a ₹55.45 crore exceptional provision linked to anticipated costs under India’s new labour codes. EPS also slipped to ₹49.93 from ₹51.79 in Q2. Despite this, overall efficiency remained healthy with cost discipline offsetting inflationary trends.
While no direct management quotes were provided, the company attributed Q3 performance to a balanced contribution from Royal Enfield’s exports, domestic growth, and sustained profitability at VE Commercial Vehicles (VECV), which contributed ₹134.91 crore in JV profit. The company also reported strong control over employee and depreciation expenses, while maintaining R&D investments. EPS for 9M FY26 stood at ₹145.68 (basic), up from ₹123.07 in the same period last year.
Nine-Month Performance Strong
For the nine-month period ending December 2025, Eicher Motors reported ₹17,327 crore in revenue, a 27.2% increase from ₹13,629 crore in 9M FY25. Net profit rose 18.5% YoY to ₹3,995 crore. The company continues to hold a strong position in the premium motorcycle and commercial vehicle segments, and its consolidated reserves stood at ₹21,269 crore as of December 2025, indicating a robust financial foundation.
Disclaimer: This article is based on the company’s regulatory filing for Q3 FY26. It is for informational purposes only and does not constitute investment advice or a recommendation.
