Eicher Motors gained 5.56% to Rs 2,571.35 after the company reported 16% jump in consolidated net profit to Rs 610.14 crore on a 8.6% increase in total revenue from operations to Rs 3,193.32 crore in Q4 FY22 over Q4 FY21.
During the quarter, Royal Enfield recorded sales of 182,125 motorcycles, down by 10.4% from 203,343 motorcycles sold during the same period in FY 2020-21.
Profit before tax rose 17.1% to Rs 806.29 crore in the quarter ended 31 March 2022 from Rs 688.59 crore in the quarter ended 31 March 2021.
EBITDA rose 19.3% to Rs 757 crore as compared to Rs 634 crore in the same quarter of the previous financial year.
Eicher Motors recorded 24.5% rise in consolidated net profit to Rs 1,677 crore on an 18.1% increase in revenue from operations to Rs 10,298 crore in FY22 over FY21.
VECV's revenue from operations in FY22 was Rs 12,724 crore, up by 46.7% over FY21. Net profit increased by 94.7% to Rs 111 crore in FY22 from Rs 57 crore in FY21.
VECV recorded sales of 57,077 vehicles for FY 2021-22, marking a growth of 38.3% over 41,268 vehicles in FY 2020-21.
Commenting on Eicher Motors' performance through the year, Siddhartha Lal, managing director of Eicher Motors said, During this year, our international markets growth story showed stellar performance with more than 100% growth YoY as we continued to deliver sustained results in the domestic market.
At VECV, our performance was extremely encouraging. We have continued to strengthen market presence with expansion in our distribution network as well as a strong product range, including the widest range of CNG trucks. With the commercial vehicle industry back on the growth path, we are confident about maintaining our strong momentum.
Speaking on Royal Enfield's performance, B. Govindarajan, CEO - Royal Enfield and wholetime director, EML, said, We continued to deliver on our global focus with unprecedented growth and strengthened our international operations with the setting up of two CKD facilities this year, in Colombia and Thailand, and expanding our global retail network to close to 3000 stores during the year.
Our consistent efforts to unlock the potential of fostering a pure motorcycling ecosystem has resulted in a 45% year-on-year growth in our non-motorcycling business backed by razor sharp focus on growing service and spares business, as well as our motorcycle apparel and accessories business.
Vinod Aggarwal, MD and CEO VECV, said: Our new truck plant at Bhopal became fully operational that puts us in a good situation as far as capacity is concerned and we are well placed to take advantage of the expected growth in the industry, supported by our award winning range of products.
Separately, the company's board appointed B Govindarajan as chief executive officer (CFO) of Royal Enfield and the wholetime director on the board of Eicher Motors.
The board of directors recommended a final dividend of Rs 21 per equity share for the financial year ended 31 March 2022.
Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles which operates in India's commercial vehicle space.
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