Category: Eicher

Eicher Motors Reports 8% Increase in Q2 Profits

Nov 15, 2024 | Automobile, Eicher, Royal Enfield

Eicher Motors, the parent company of Royal Enfield, has reported an 8% growth in profit for the second quarter (Q2) of the current financial year. The company’s profit after tax (PAT) stood at ₹432.5 crore (approximately $57.5 million) in Q2 FY23, compared to ₹400.5 crore in the same period last year. The company’s total revenue grew by 9% to ₹2,644.5 crore, driven by a 13% increase in motorcycle sales.
Royal Enfield, the company’s flagship brand, sold 221,200 motorcycles in Q2 FY23, up 12% from the same period last year. The brand’s sales growth was driven by strong demand for its products, particularly in the domestic market. Eicher Motors’ operating margin expanded by 140 basis points to 22.3% in Q2 FY23, driven by a favorable product mix and cost optimization initiatives.
The company’s board of directors has declared an interim dividend of ₹5 per share, subject to the approval of shareholders. Eicher Motors has maintained its focus on product development, supply chain optimization, and strategic investments to drive growth and profitability in the future.

Source: https://www.businessworld.in/article/eicher-motors-posts-8-profit-growth-in-q2-539218

Eicher and Gaidos maintain their lead in the Pleasanton City Council races.

Nov 13, 2024 | Automobile, Eicher

The Pleasanton City Council election results show Craig Eicher and Matt Gaidos with comfortable leads in the District 2 and District 4 races, respectively. Eicher, a former police captain, is ahead of incumbent Valerie Arkin by nearly 700 votes, while Gaidos, a prosecutor, has a 400-vote lead over Vivek Mohan, a Planning Commissioner. Eicher has expressed hope that the new council will address the city’s challenges and improve its financial health. Arkin, while not officially conceding, is proud of her work on the council and the community improvements she helped pass. The District 4 race is still too close to call, with Gaidos leading by 52.88% to 47.12%. Mohan has expressed frustration with the county’s delay in counting ballots and hopes for a more efficient process in the future. The registrar’s office is set to release another update on Friday.

Source: https://www.pleasantonweekly.com/city-politics/2024/11/13/eicher-gaidos-continue-to-stay-ahead-in-pleasanton-city-council-contests/

Eicher Motors is poised to post a 5.3% increase in profit and 8.7% revenue growth in its Q2 earnings, with higher average selling prices (ASPs) and an improved export mix driving the gains.

Nov 12, 2024 | Automobile, Eicher, Royal Enfield

Eicher Motors, the parent company of Royal Enfield, is expected to report a revenue growth of 8.7% and a 5.3% YoY increase in profit, driven by higher average selling prices (ASPs) and an improvement in its export mix, according to a preview from MSN. The company’s recent performance has been strong, with sales rising 5.3% YoY in Q2 FY 2023. The analyst expects Eicher Motors’ revenue to increase to approximately ₹2,450 crores, with a standalone profit of ₹430.5 crores. These numbers are likely to drive the company’s revenue margins, with EBITDA margins expected to expand around 20 bps during the quarter. The exports of Royal Enfield has been a major contributor, with the company’s volume growth driven by the motorcycle’s strong performance in geographies like the US and Europe. Overall, Q2 FY 2023 is expected to be solid for Eicher Motors, with the company’s improving profitability and volume growth trajectory likely to support its margins.

Source: https://www.msn.com/en-sg

A Minibus collided with an Eicher truck at Karmalghat, resulting in injuries to the bus driver.

Nov 9, 2024 | Automobile, Eicher

A mini-bus and a tipper truck collided at Karmalghat, blocking the NH-66 highway for several hours on Saturday morning. The mini-bus, heading from Margao to Canacona, collided with the truck, which was traveling in the opposite direction, at a slight turn at the foot of Karmalghat. The bus driver suffered serious injuries and was rushed to the hospital in an ambulance. Passengers on the bus were shaken but did not suffer major injuries. The bus suffered extensive damage, with its front portion badly damaged. The accident blocked the highway, causing traffic congestion and forcing vehicles to divert via a nearby road. The mishap affected women and children the most, who were stuck in the traffic jam. Police eventually managed to clear the traffic on one side, but the incident caused significant disruptions to traffic in the area.

Source: https://goemkarponn.com/bus-driver-injured-in-min-bus-eicher-truck-collides-at-karmalghat/

Lovina Eicher’s Amish Kitchen: Seeking Names for Midnight’s Filly – Help Needed!

Nov 4, 2024 | Automobile, Eicher

The author, Lovina Eicher, reflects on the approaching end of October 2024 and the changing seasons. She notes that her family is enjoying the autumn weather, but acknowledges the increasing chill in the mornings. Lovina discusses her experience with leaf raking, mentioning the use of a cordless leaf blower and her preference for helping her daughters with the task instead of raking. The author also shares stories about her family’s interactions, including a gathering at her son’s house to help with a barn roof repair and a birthday party for her grandson, Ervin Jr.
She also shares some personal experiences with her grandchildren, such as her horse, Midnight, giving birth to a new colt, and the recent arrival of her daughter’s new baby. The article concludes with a recipe for chocolate chip cookies, which the author made for her grandkids and the family enjoyed immensely. Lovina’s Amish Kitchen is a column written by the author, who is also a wife, mother of eight, and Old Order Amish writer and cook.

Source: https://www.goshennews.com/news/lovina-eichers-amish-kitchen-lovina-asks-for-help-naming-midnight-s-colt/article_fdc17da8-99f8-11ef-91ec-efa404fc66e4.html

VECV’s sales dipped 5% in October 2024, according to news reports on Rediff Money.

Nov 1, 2024 | Automobile, Eicher

VE Commercial Vehicles (VECV), a joint venture between Eicher Motors and Volvo Group, reported a 5% decline in total sales in October 2024, selling 7,112 units. This is a decrease from the 7,486 units sold in October 2023. The decline was attributed to various market conditions. The company sold 6,911 units of the Eicher brand and 201 units of the Volvo brand. Domestic sales of Eicher branded trucks and buses decreased by 6.6% to 6,611 units, while exports of these vehicles increased by 49.3% to 300 units. Overall, the company’s domestic sales fell short of expectations, but its exports showed a significant increase. The decline in domestic sales was a key factor in the company’s overall sales decline in October.

Source: https://money.rediff.com/news/market/vecv-sales-drop-5-in-october-2024/17822120241101

Tata Motors sees a slight decrease in sales, while Ola’s electric vehicle registrations surge 74%, and Royal Enfield motorcycle sales rise 31%.

Nov 1, 2024 | Automobile, Eicher, Royal Enfield, Tata Motors

Leading Indian automakers reported mixed sales figures in October 2024. Ola Electric Mobility Ltd saw a 74% increase in vehicle registrations, crossing 50,000 units for the month. Tata Motors Ltd, however, reported a slight decline in combined domestic and international sales to 82,682 units. Eicher Motors Ltd had a contrasting performance, with its joint venture with Volvo Group, VE Commercial Vehicles, declining 5%, while its motorcycle brand Royal Enfield saw a 31% increase driven by strong international demand and sales of models up to 350cc. Eicher reported a total sales growth of 7,112 units. Royal Enfield sales stood at 110,574 units, up from 84,435 units in October 2023. The company reported a 27% increase in sales of models with engine capacity up to 350cc. Overall, while some automakers saw a decline, others experienced significant growth, indicating diverse trends in the industry.

Source: https://english.jagran.com/business/automobile-sales-in-october-tata-motors-reports-marginal-decline-ola-electric-registration-jumps-74-pc-royal-enfield-sale-up-31-pc-10198134

Eicher, Hero, and TVS outperform the market, defying weak retail trends.

Oct 31, 2024 | Automobile, Eicher, Hero MotoCorp, Royal Enfield, TVS

Eicher Motors Ltd. (Royal Enfield) and Hero MotoCorp Ltd. are expected to report strong sales numbers for October, with the first positive double-digit growth expected for the company. Nuvama reports that season demand has been strong, with higher growth in rural areas and the north/west regions outpacing the south. Hero MotoCorp, which expects to sell 6.4 lakh vehicles, a 10% increase from last year, is building up at least 10% of its inventory for the year in the Diwali period. TVS is expected to maintain a steady low-digit growth, while Bajaj is projected to have a soft month with a 20-25% growth in the last two months compared to the previous two. According to Nomura, two-wheeler industry wholesales are likely to increase 7% year-on-year, although industry checks indicate slowing demand trends.

Source: https://www.ndtvprofit.com/business/october-auto-sales-preview-eicher-hero-tvs-escorts-strong-growth-weak-trends

Current browser version not compatible

Oct 22, 2024 | Automobile, Eicher

The article from mansfieldnewsjournal.com states that they have updated their website to provide a better experience for all readers, using the latest technology to make the site faster and easier to use. However, the website is not compatible with the user’s current browser, which is not supported. The article encourages the user to download a different browser to ensure the best experience on mansfieldnewsjournal.com. This is likely due to issues with outdated browsers, such as outdated security patches, slower performance, and incompatibility with modern web technologies, which can hinder the user’s ability to access and use the website.

Source: https://www.mansfieldnewsjournal.com/story/life/2024/10/22/lovina-eicher-shares-a-pumpkin-chocolate-chip-bar-recipe-lovinas-amish-kitchen-family-church/75705558007/

Get ready to rev up the roads of Bangladesh! Royal Enfield is launching its exciting lineup of bikes in the country tomorrow. Experience the thrill of owning a Royal Enfield bike in Bangladesh!

Oct 20, 2024 | Automobile, Eicher, Royal Enfield

Royal Enfield has announced that their 350cc motorcycles, including the Bullet, Meteor, Hunter, and Classic, will be available for purchase in Dhaka from October 20th. The motorcycles will be available in 12 different colors, with one or two models available in three to five colors. The production unit is located in Cumilla’s Chauddagram, where the motorcycles are assembled. According to sources, the prices will range from Tk 4 lakh to Tk 5 lakh, and the average mileage is expected to be 36-38 km/l. The move comes after the government raised the bar for motorcycles above 165cc to 375cc last year. The company, distributed in Bangladesh by Ifad Group, has a rich history dating back to 1901 when the first prototype was developed. Over the years, the company has undergone several transformations, with Eicher Group acquiring Enfield India Limited and renaming it Royal Enfield Motors Limited in 1994. The company is expected to unveil the motorcycles at a flagship store in Tejgaon, Dhaka, on October 20th.

Source: https://www.thedailystar.net/business/news/royal-enfield-launches-bangladesh-tomorrow-3731131

Astronomy Today: Exploring the Universe with Expert Insights

Oct 14, 2024 | Automobile, Eicher

On the evening of October 14, the nearly full moon will pass by Saturn, providing a unique viewing opportunity for stargazers. To view this celestial event, head out an hour after sunset and look towards the southeast. The moon will be the first object to spot, with Saturn being the only bright object nearby. Although not necessary, binoculars can enhance the view. This event is accessible to anyone, making it a great opportunity for space enthusiasts and beginners alike. According to Astronomy magazine, this close encounter between the moon and Saturn is a rare sighting, making it a special event not to be missed.

Source: https://www.astronomy.com/observing/the-moon-meets-saturn-this-week-in-astronomy-with-dave-eicher-2/

Business Development Insights: Key Market Trends, Financial Analysis and Corporate Performance Review

Oct 10, 2024 | Automobile, Eicher

The Indian government’s efforts to target the unemployed youth of the country are gaining traction among corporations, with over 50,000 internship opportunities listed on the Ministry of Corporate Affairs website. This is a significant increase from the 16,000 opportunities listed earlier. The internship scheme, announced by Finance Minister Nirmala Sitharaman, aims to provide one-year work exposure to unemployed youth aged 21-24 with a stipend of ₹5,000. Over 130 companies, including top private sector players, have posted internship opportunities across 22 sectors, including oil, gas, energy, travel, and hospitality. Internships are available in various fields, including operations management, production, and sales and marketing. The portal will be open for youth to register from October 12 to October 25, with shortlisted candidates to be selected by companies by November 7. The government will pay a monthly stipend of ₹4,500 to candidates, while companies will provide an additional ₹500. This initiative aims to provide internships to one crore youth in the top 500 companies over the next five years.
Source: https://www.fortuneindia.com/enterprise/50000-internships-up-for-grabs-jubilant-eicher-lt-mm-post-vacancies-on-mca-portal/118742

Cosmic Conversations: Exploring the Wonders of the Universe with Dave Eicher

Oct 9, 2024 | Automobile, Eicher

Join Dave Eicher for a celestial sighting of the Moon passing Antares, the brightest star in the constellation Scorpius the Scorpion. This event will take place on the evening of October 7. To observe it, head out an hour after sunset and look towards the southwest. You’ll be able to spot the thin crescent Moon first. Antares will be the only bright star nearby, making it easy to spot. While binoculars are not necessary, they may enhance the view for you. This close meet-up between the Moon and Antares is a treat for stargazers. With no special equipment needed, anyone can enjoy the spectacle. So mark your calendars for October 7 and get ready to experience the beauty of the universe!

Source: https://www.astronomy.com/observing/the-moon-meets-antares/

VE Commercial Vehicles reports a September 2024 sales figure of 7,609 units.

Oct 8, 2024 | Automobile, Eicher

VE Commercial Vehicles (VECV), a leading commercial vehicle manufacturer, has reported a sales figure of 7,609 units in September 2024. This marks a significant milestone for the company, as it continues to grow and expand its presence in the Indian market.
According to the data, VECV’s sales in September 2024 saw a substantial increase compared to the same period last year. The company’s Eicher brand, which is its flagship brand, accounted for the majority of the sales, with 6,439 units sold. The Volvo brand, which is also part of VECV’s portfolio, saw sales of 1,170 units.
The strong sales performance can be attributed to the company’s robust product portfolio, which includes a range of commercial vehicles such as trucks, buses, and construction equipment. VECV’s products are known for their durability, reliability, and performance, making them a popular choice among customers.
Overall, VECV’s sales performance in September 2024 is a testament to the company’s commitment to delivering high-quality products and services to its customers.

Source: https://www.constructionworld.in/policy-updates-and-economic-news/ve-commercial-vehicles-sells-7609-units-in-september-2024/63384