The two-wheeler major posted a 21% year-on-year jump in consolidated net profit attributable to owners at Rs 1,420 crore for Q3FY26, compared with Rs 1,171 crore in the same period last year. Revenue from operations rose 23% to Rs 6,114 crore, up from Rs 4,973 crore a year ago.
On a sequential basis, net profit increased 3.7% from Rs 1,369 crore in Q2FY26, even as revenue dipped marginally by around 1% from Rs 6,172 crore in the July–September quarter.
Capacity expansion boost
The Royal Enfield maker’s board has approved a brownfield capacity expansion at its Cheyyar plant in Tamil Nadu, with an investment of Rs 958 crore. The company’s current annual motorcycle production capacity stands at around 14.6 lakh units across all plants. Post-expansion, total capacity will increase to nearly 20 lakh units per year. The ramp-up is planned in phases beginning Q1FY27, with completion targeted by FY28.
VECV performance
VE Commercial Vehicles (VECV), Eicher’s commercial vehicle arm, reported sales of 26,086 units in Q3FY26, compared with 21,010 units in the year-ago quarter. Revenue from operations rose 21% year-on-year to Rs 7,019 crore. EBITDA for the quarter increased 26% to Rs 652 crore, while profit after tax stood at Rs 338 crore, up from Rs 299 crore last year.
Management commentary
Managing Director B. Govindarajan said the December quarter delivered steady performance, supported by disciplined execution across businesses, with encouraging results from both Royal Enfield and VECV. On the capacity expansion, he noted that the investment would enhance annual production capability and help meet rising current and future demand.
Stock performance and technicals
On Tuesday, Eicher Motors shares closed 1.40% higher at Rs 7,296 on the NSE. The stock has gained about 37% over the past year and has delivered a strong 127% return over the last three years.From a technical perspective, the 14-day RSI stands at 54.7, indicating neutral momentum. The stock is trading above all key short- and long-term simple moving averages, signalling a bullish trend.
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