Eicher Motors Limited (EML) has announced several key changes in its leadership and financial performance. Siddhartha Lal has been appointed as the Executive Chairman of the Board, succeeding S. Sandilya who has retired. Vinod Aggarwal has been appointed as the Vice Chairman (Non-Executive), and B. Govindarajan has been appointed as the new Managing Director of EML, replacing Lal. Govindarajan will also continue to serve as the CEO of Royal Enfield, while Aggarwal will retain his role as MD and CEO at VE Commercial Vehicles, EML’s joint venture with the Volvo Group.
In addition to the leadership changes, EML has also announced its December quarter results. The company’s consolidated profit after tax (PAT) increased by 18% year-on-year to Rs 1,171 crore for the quarter ended December 31, 2024. Revenue from operations rose to Rs 4,973 crore in the December quarter, compared to Rs 4,179 crore in the corresponding quarter of the previous fiscal year. Royal Enfield, a subsidiary of EML, recorded its highest-ever quarterly sales volume of 2,69,039 motorcycles in the December quarter, representing a growth of 17% over the year-ago period.
The company’s strong financial performance is attributed to higher sales, which were driven by the growth of its motorcycle business, particularly in the premium segment. The company’s leadership changes are expected to bring new perspectives and expertise to the table, and will likely have a positive impact on the company’s future performance. Overall, the announcements are seen as a positive development for Eicher Motors Limited, and are likely to be well-received by investors and stakeholders.