Eicher Motors Q2 FY27 Standalone Profit ₹1,325 Crore

Key Financial Figures - Standalone (₹ in Crores)

Quarterly Performance (Q2 FY27)

Revenue from Operations: ₹7,159.04 (Q2 FY26: ₹5,902.07)
Other Income: ₹329.77
Total Income: ₹7,488.81
Total Expenses: ₹5,745.46
Profit Before Tax (PBT): ₹1,743.35 (Q2 FY26: ₹1,614.13)
Tax Expense: ₹418.36
Profit After Tax (PAT): ₹1,324.99 (Q2 FY26: ₹1,208.01)
Earnings Per Share (EPS) - Basic: ₹48.27 (Q2 FY26: ₹44.04)
Earnings Per Share (EPS) - Diluted: ₹48.19 (Q2 FY26: ₹43.97)

Half-Yearly Performance (H1 FY27)

Revenue from Operations: ₹13,372.65 (H1 FY26: ₹10,810.48)
Other Income: ₹1,056.86
Total Income: ₹14,429.51
Profit Before Tax (PBT): ₹3,711.39 (H1 FY26: ₹3,311.52)
Tax Expense: ₹879.78
Profit After Tax (PAT): ₹2,831.61 (H1 FY26: ₹2,514.50)
Earnings Per Share (EPS) - Basic: ₹103.18 (H1 FY26: ₹91.69)
Earnings Per Share (EPS) - Diluted: ₹103.02 (H1 FY26: ₹91.54)

Standalone Balance Sheet (as of September 30, 2026)

Total Assets: ₹30,589.09 Crores (March 31, 2026: ₹28,563.76 Crores)
Equity Share Capital: ₹27.45 Crores
Total Reserves: Not provided for interim period (March 31, 2026: ₹21,780.43 Crores)
Total Equity: ₹22,447.31 Crores
Total Liabilities: ₹8,141.78 Crores

Standalone Cash Flow (H1 FY27)

Cash from Operating Activities: ₹3,533.94 Crores
Cash from Investing Activities: (₹1,379.02) Crores
Cash from Financing Activities: (₹2,207.64) Crores
Net Change in Cash: (₹40.75) Crores

Key Financial Figures - Consolidated (₹ in Crores)

Quarterly Performance (Q2 FY27)

Revenue from Operations: ₹7,421.72 (Q2 FY26: ₹6,171.59)
Other Income: ₹331.88
Total Income: ₹7,753.60
Share of Profit from Joint Venture (VECV): ₹186.07
Profit Before Tax (PBT): ₹1,992.38 (Q2 FY26: ₹1,779.01)
Tax Expense: ₹419.01
Profit After Tax (PAT): ₹1,573.37 (Q2 FY26: ₹1,369.45)
Earnings Per Share (EPS) - Basic: ₹57.31 (Q2 FY26: ₹49.93)
Earnings Per Share (EPS) - Diluted: ₹57.23 (Q2 FY26: ₹49.85)

Half-Yearly Performance (H1 FY27)

Revenue from Operations: ₹14,054.14 (H1 FY26: ₹11,213.43)
Other Income: ₹798.19
Total Income: ₹14,852.33
Share of Profit from Joint Venture (VECV): ₹353.57
Profit Before Tax (PBT): ₹3,917.61 (H1 FY26: ₹3,372.00)
Tax Expense: ₹881.73
Profit After Tax (PAT): ₹3,035.88 (H1 FY26: ₹2,574.67)
Earnings Per Share (EPS) - Basic: ₹110.61 (H1 FY26: ₹93.88)
Earnings Per Share (EPS) - Diluted: ₹110.45 (H1 FY26: ₹93.73)

Consolidated Balance Sheet (as of September 30, 2026)

Total Assets: ₹34,410.45 Crores (March 31, 2026: ₹32,163.56 Crores)
Equity Share Capital: ₹27.45 Crores
Total Reserves: Not provided for interim period (March 31, 2026: ₹25,072.72 Crores)
Total Equity: ₹25,941.15 Crores
Total Liabilities: ₹8,469.30 Crores

Consolidated Cash Flow (H1 FY27)

Cash from Operating Activities: ₹3,671.56 Crores
Cash from Investing Activities: (₹1,380.50) Crores
Cash from Financing Activities: (₹2,291.70) Crores
Net Change in Cash: ₹13.84 Crores

Subsidiaries and Joint Ventures

The consolidated results include the following entities:

Subsidiaries: Royal Enfield North America Ltd., Royal Enfield Canada Ltd., Royal Enfield Brasil, Royal Enfield (Thailand) Ltd., Royal Enfield UK Ltd., Royal Enfield Europe B.V.
Joint Ventures: VE Commercial Vehicles Ltd. (VECV), Eicher Polaris Private Ltd.
Subsidiaries of VECV: VECV Lanka, VECV South Africa, VE Electro Mobility Ltd., VE Connected Solutions Pvt. Ltd., PT VECV Automotive Indonesia.

The review report notes reliance on the audit reports of one material subsidiary and unaudited results for one subsidiary and entities within the VECV structure, which are deemed not material to the group.

Capital Structure & Shareholding

Paid-up equity share capital (face value ₹1) stood at ₹27.45 Crores as of September 30, 2026.
During Q2 FY27, 24,176 equity shares were issued under the Employee Stock Option Plan, 2006 and the Restricted Stock Units Plan, 2019.
During H1 FY27, 207,502 equity shares were issued under these plans.
The Nominations and Remunerations Committee approved the grant of 27,000 employee stock options and 137,365 restricted stock units to eligible employees of the Company, its subsidiaries, and a joint venture during H1 FY27.

Regulatory References & Compliance

The disclosure is made pursuant to SEBI (LODR) Regulations, 2015: Regulation 30 (Event-based disclosure) and Regulation 33 (Financial Results).
The results will be published in newspapers as per Regulation 47.
The financial results have been reviewed by the statutory auditors, S.R. Batliboi & Co. LLP, who issued an unmodified review conclusion.

Notes to Accounts

Segment Reporting: The company operates in a single primary business segment: "Automobile products and related components"; hence segment disclosures are not provided.
EPS Calculation: Earnings per share figures are not annualized for the quarter or half-year periods.
Environmental Liability (ELV Rules): The Ministry of Environment, Forest and Climate Change issued the Environment Protection (End-of-Life Vehicles) Rules, 2025, effective April 1, 2025. These rules impose Extended Producer Responsibility (EPR) obligations on vehicle manufacturers. The company states that as the pricing mechanism for EPR certificates has not been notified and the central portal is only partially operational, it is currently unable to reliably estimate this obligation. No provision has been made in these financial results.