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Eicher Motors records best ever performance in Q1
Date: 11/08/2017

Eicher Motors Limited (EML) has announced the unaudited consolidated financial results for the first quarter ended June 30, 2017. Royal Enfield posted its best ever performance in Quarter ended June 2017. In this quarter, Royal Enfield sold 183,731 motorcycles, registering its best ever quarterly sales volume and posting a growth of 24.7% over 147,349 motorcycles sold in the same period last year. Royal Enfield also posted its highest ever quarterly income from operations at Rs 2,001 crore (net of excise duty) for Q1 2017-18, a growth of 28.6% over the corresponding period last year. Commenting on Royal Enfield’s performance, Siddhartha Lal Managing Director and CEO Eicher Motors Ltd said, “Royal Enfield has performed extremely well in the first quarter of FY 2017-18 despite a number of issues in the domestic market like BS-IV transition and GST rollout that affected the industry. In the face of these challenges, Royal Enfield transitioned to the BS-IV norms with no BS-III inventory. We smoothly transitioned to GST regime without any disruptions” “Royal Enfield has been investing in building capacity and capabilities. In May 2017, Royal Enfield moved into its technical centre located at Leicester, UK. The area for office and testing is spread over 36,000 square feet and currently have more than 100 employees working on developing our upcoming platforms. Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally,” Siddhartha added. Commenting on VE Commercial Vehicles (VECV)’s performance Siddhartha said, “The CV industry was affected by the transition from BS-III to BS-IV emission norms and the implementation of GST The industry grappled with the large BS-III inventory. The actual impact to the CV segment will be known only after the channel stocks normalise. However, as a result of all these issues in Q1 2017-18 VECV declined by 27.9% against an industry decline of 24.2% with a sale of 11583 units over 16071 units same period last year. In the month of June 2017, we reduced the channel stocks by more than 1000 units that could give us an advantage in the coming months when the channel stocks become normal.” “Our joint venture with Eicher Polaris Pvt Ltd (EPPL) continue

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