The company's earnings before interest, taxation, depreciation and amortization (EBITDA) surged 64.6% to Rs 470 crore in Q1 June 2016 over Q1 June 2015. EBITDA margin expanded to 30.2% in Q1 June 2016 from 26.1% in Q1 June 2015.
EML's Managing Director & CEO Siddhartha Lal said that the management's immediate business outlook for Royal Enfield business remains strong and it continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcyle segment globally.
Commenting on VE Commercial Vehicles' (VECV) performance, Siddhartha said that VECV demonstrated an impressive performance in Q1 June 2016 with sales of 16,071 units recording a growth of 32.5% over Q1 June 2015. VECV also increased its overall market share to 15.1% in Q1 June 2016, as compared to 13.2% recorded in Q1 June 2015. VECV continues to do well in the sub 5-ton category with the introduction of Pro 1049 where it is currently selling more than 100 trucks every month since its launch in the last quarter. Eicher Motors' 50:50 joint venture with Polaris Industries, Eicher Polaris Private Ltd., through its product Multix is generating a lot of interest among its target customers. Multix is now present in 50 locations across 8 states and it continues to gain momentum in its target markets, he further added.
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