Eicher Motors

BENGALURU, Aug 20 (Reuters) - Diary of India economic, corporate events on August 20

ECONOMIC, CORPORATE .BSE500 EVENTS

(Compiled by Bengaluru Newsroom)

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Aug 6 (Reuters) - Ashok Leyland Limited ASOK.NS:

• INDIA’S FADA: JULY COMMERCIAL VEHICLE RETAIL SALES ROSE 24.04% Y/Y

• INDIA’S FADA: LOOKING AHEAD TO AUGUST’26, DEALER OPTIMISM FIRMS CONSIDERABLY

• INDIA’S FADA: OVERALL, NEXT THREE MONTHS APPEAR DECISIVELY CONSTRUCTIVE

• INDIA AUTODEALERS BODY FADA: JULY OVERALL AUTO RETAIL SALES ROSE 25.89% Y/Y

• INDIA’S FADA: JULY TWO-WHEELERS RETAIL SALES ROSE 28.25% Y/Y

• INDIA'S FADA: JULY PASSENGER VEHICLE RETAIL SALES ROSE 19.13% Y/Y

• INDIA'S FADA: ALTERNATIVE FUELS ARE NOW WITHIN STRIKING DISTANCE OF PETROL IN PASSENGER VEHICLE MARKET

Further company coverage: ASOK.NS

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July 30 (Reuters) - ** Eicher Motors EICH.NS reported quarterly profit rise that beat expectations and said it remains confident of growth in the second half of the year.

** Shares up 0.7%, pulling back from initial climb of 1.4%

CRUISING DESPITE COST HEADWINDS

** Citi ("Buy", PT: 8,850 rupees) says Q1 beat estimates on strong demand, bookings and improving supply, with capacity expansion supporting growth despite cost pressures

** Jefferies ("Buy", PT: 9,300 rupees) says EICH is "cruising despite cost headwinds," as it remains key beneficiary of motorcycle premiumisation, with strong demand, low inventories and easing margin concerns supporting growth

** Nomura ("Neutral", PT: 8,437 rupees) says demand and launches should sustain growth, but much of the optimism is already priced in, while competition could limit upside

(Reporting by Kashish Tandon in Bengaluru)

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July 29 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS Q1 CONSOL NET PROFIT 14.63 BILLION RUPEES; IBES EST. 13.91 BILLION RUPEES

• EICHER MOTORS Q1 CONSOL TOTAL REV FROM OPS 66.32 BLN RUPEES; IBES EST. 63.65 BLN RUPEES

Source text: [ID:]

Further company coverage: EICH.NS

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July 15 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S JUNE TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,88,144 UNITS

• SIAM - INDIA'S JUNE 2-WHEELER SALES 18,51,400 UNITS

• SIAM - INDIA'S JUNE 3-WHEELER SALES 77,951 UNITS

• SIAM - OVERALL CONSUMER SENTIMENT AND DEMAND REMAIN STEADY AT PRESENT

• SIAM: INDUSTRY CONTINUES TO CLOSELY MONITOR GEOPOLITICAL DEVELOPMENTS AND PROGRESS OF MONSOON

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Rewrites throughout with comments from president of auto dealers' body

By Kashish Tandon

July 6 (Reuters) - India's appetite for electric, hybrid and compressed natural gas vehicles accelerated after the Iran war triggered fuel price hikes, the president of the country's auto dealers' body said, with such models reaching a record share of passenger vehicle sales in June.

Alternative-fuel vehicles accounted for 40.35% of PV retail sales in June, up from about 38% a month earlier, as consumers increasingly sought cheaper running costs after petrol and diesel prices were raised several times in May.

"We need to watch whether this is an emotional knee-jerk reaction from customers or whether this growth is here to stay," C.S. Vigneshwar, president of the Federation of Automobile Dealers Associations (FADA), told Reuters on Monday.

Overall vehicle sales rose 21.8% to a record 2.6 million units, with PV sales rising 28.6% year-on-year to 410,853 units.

Among PVs, CNG models accounted for 24.3% of total sales, while hybrids made up 8.3% and electric vehicles 7.8%.

Industry leader Maruti Suzuki MRTI.NS said last month that bookings for its CNG cars jumped 40% since the fuel price hikes.

The share of electric vehicles among overall two-wheeler sales rose to 10.6%, hitting the double-digit mark for the first time, according to FADA.

While the worst of the crude shock and supply chain disruptions from the Iran war seemed to be over, a return to complete normalcy could still take "a few quarters" and may involve some cost implications, said Vigneshwar.

(Reporting by Kashish Tandon in Bengaluru; Editing by Rashmi Aich, Mrigank Dhaniwala and Janane Venkatraman)

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

• EICHER MOTORS - ROYAL ENFIELD SELLS 1,14,032 MOTORCYCLES IN JUNE 2026

Source text: ID:nnAZN4T5FAS

Further company coverage: EICH.NS

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** Shares of Royal Enfield maker Eicher Motors EICH.NS fall as much as 6.51% to 6,942.5 rupees

** This is stock's steepest intraday decline in more than 16 months

** EICH is the top percentage loser on Nifty 50 index .NSEI, which is down 0.1%

** Multiple brokerages flag the two-wheeler maker as the biggest potential loser from Delhi government's new electric vehicles policy

** Policy mandates that only electric 3Ws will be permitted for registration from Jan 1, 2027 and only electric 2Ws from April 1, 2028

** In particular, EICH may be more impacted due to its high New Delhi exposure of Royal Enfield and very low EV mix potential, says Nomura

** EICH shares are down 2.4% in 2026 so far, compared to 8.4% drop in Nifty 50 index, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Goldman Sachs ("buy") raises TP on India's Eicher Motors EICH.NS to 9200 rupees from 8400 rupees

** EICH last up 1.12% at 7696 rupees

** Brokerage says easing energy prices could drive the fastest rebound in demand in scooters, premium motorcycles, entry-level cars, premium hatchbacks

** Flags Royal Enfield maker as being well placed to benefit from price stabilization after reopening of Strait of Hormuz eases fuel prices

** Adds, Eicher relatively less affected by slower onset of monsoon as its customer base is more urban and premium

**Says TVS Motor TVSM.NS, Maruti Suzuki MRTI.NS also in a good position to benefit from price stabilization

** Also cuts TP on tractor maker Mahindra and Mahindra MAHM.NS, with higher rural exposure, to 3650 rupees due to slower monsoons

** EICH up 5.4% YTD

(Reporting by Abhirami G in Bengaluru)

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June 15 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S MAY TOTAL DOMESTIC PASSENGER VEHICLE SALES 4,38,854 UNITS

• SIAM - INDIA'S MAY 3-WHEELER SALES 70,720 UNITS

• SIAM - INDIA'S MAY 2-WHEELER SALES 19,02,209 UNITS

• SIAM - LOWER BASE EFFECT OF PREVIOUS MAY, DEMAND CREATED DUE TO REDUCED GST RATES GETTING REFLECTED IN HIGHER OFF-TAKE THIS MONTH

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June 4 (Reuters) - Eicher Motors Ltd EICH.NS:

• EICHER MOTORS - RECEIVES DEMAND ORDER FOR 16.4 MILLION RUPEES ON JUNE 3, 2026

Source text: ID:nBSE4pcvL4

Further company coverage: EICH.NS

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

• EICHER MOTORS - ROYAL ENFIELD SELLS 103,231 MOTORCYCLES IN MAY 2026

Source text: ID:nBSECCJdd

Further company coverage: EICH.NS

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May 28 (Reuters) - India's Ashok Leyland ASOK.NS reported its highest ever quarterly profit on Thursday, helped by strong demand for commercial vehicles.

• The Hinduja Group flagship reported standalone profit of 14.05 billion rupees ($146.8 million) in the three months ended March 31, up 13% from 12.46 billion rupees a year ago.

• Revenue from operations jumped about 19% to a record 141.6 billion rupees in the fourth quarter

• Auto sector demand, including for commercial vehicles, continued stayed strong on momentum from last year's tax cuts

• Analysts, however, warned of margin pressures due to increased input costs amid the ongoing U.S.-Iran war.

• Ashok Leyland's input costs soared 29%, driving up expenses by 19%

• "Our CV and export volumes were at an all-time high... the company delivered significant growth in power solutions, aftermarket and electric mobility businesses," Chairman Dheeraj Hinduja said.

• Earlier this month, rival Tata Motors TATM.NS flagged near-term cost pressures due to the ongoing war even as it reported a near 70% jump in fourth-quarter profit.

($1 = 95.6863 Indian rupees)

(Reporting by Devika Nair in Bengaluru; Editing by Joyjeet Das)

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Adds details from paragraph 3 onwards

May 22 (Reuters) - Indian automaker Eicher Motors EICH.NS beat quarterly profit estimates on Friday, as last year's tax cuts boosted demand for its high-margin 350-cc motorcycles.

The Royal Enfield Himalayan 450 adventure bike manufacturer posted a near 12% rise in consolidated net profit to 15.2 billion rupees ($158.85 million) for the March quarter from a year ago.

Analysts had estimated a quarterly profit of 14.87 billion rupees, according to data compiled by LSEG.

India's top premium motorcycle maker was the biggest beneficiary of the September tax cuts that lowered duties from 28% to 18% on the 350-cc category, which occupies a large chunk of the company's portfolio.

Its total revenue jumped 16% to 60.80 billion rupees, beating analysts' average estimate of 59.98 billion rupees.

After posting higher quarterly profits, peers Bajaj Auto BAJA.NS, TVS Motor TVSM.NS and Hero MotoCorp HROM.NS are relying on a premium product mix, export expansion and cost controls to cushion higher shipping expenses and commodity prices stemming from the closure of the Strait of Hormuz.

(Reporting by Kashish Tandon and Urvi Dugar in Bengaluru; Editing by Harikrishnan Nair and Shreya Biswas)

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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) - Amazon.com Inc AMZN.O:

• AMAZON INDIA - TO DEPLOY 1,000 EICHER ELECTRIC TRUCKS FOR AMAZON NOW OPERATIONS

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May 7 (Reuters) -

• ROYAL ENFIELD TO INVEST 22 BILLION RUPEES IN INDIA'S ANDHRA PRADESH- STATEMENT

Further company coverage: EICH.NS

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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)

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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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Adds background in paragraphs 7-9, brokerage comment in paragraph 10, updates share levels throughout

Feb 11 (Reuters) - Shares of Eicher Motors EICH.NS rose nearly 7% to a record high on Wednesday after the Indian automaker announced plans to boost capacity and forecast that its Royal Enfield motorcycles business would outperform industry growth.

The Himalayan 450 motorcycle maker's shares were up 6.5% at 7,770 rupees as of 10:45 a.m. IST, on track for their biggest single-day percentage gain since January 2025.

The stock was the top performer on the blue-chip Nifty 50 .NSEI and Nifty Auto .NIFTYAUTO indexes, which were trading up 0.1% and 2%, respectively.

On Tuesday, Eicher Motors said it planned to increase capacity at an existing plant in Tamil Nadu state by over a third to 2 million annual units to cater to fast-growing domestic demand.

UBS said the capacity boost "reinforces" its thesis that India's tax cuts on most motorcycles would drive premiumisation, with Royal Enfield "emerging as a key beneficiary."

Jefferies added that Royal Enfield's "toughest phase of competition as well as margin concerns are behind," after a few years of rising competition in the mid-sized segment from rivals such as Triumph and Harley-Davidson's locally-produced models.

Eicher's earnings beat on Tuesday was led by strong demand for its motorcycles with an engine capacity up to 350cc, for which the tax rate was cut to 18% from 28%.

That helped boost Royal Enfield's domestic sales by 24% in the December quarter, compared with industry-wide two-wheeler sales growth of 17%.

Eicher also expects to outperform the Indian two-wheeler industry's "high-single digit" percentage growth in the fiscal year to March 2027, its managing director B Govindarajan told analysts.

With strong sales of 350cc models and a recovery in larger models, whose tax rate was raised, volumes and margins are both "witnessing encouraging trends," Citi said in a note.

At least 12 brokerages raised their target price on Eicher after the results, lifting the median to 7,500 rupees from 7,190 rupees earlier, per data compiled by LSEG.

($1 = 90.5800 Indian rupees)

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

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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:

• EICHER MOTORS - DEC TOTAL VECV VOLUME 10,384 UNITS

Source text: ID:nBSE3wj0KD

Further company coverage: EICH.NS

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