For the first nine months of the current financial year, Eicher Motors' sales volumes for Royal Enfield have grown by 6% to 7,27,077 units, compared to 6,85,059 lakh units sold during the same period last year.Shares of Eicher Motors, the maker of Royal Enfield motorcycles, jumped 7% to hit a 52-week high of INR 5,226 on the BSE during Thursday's trade, following robust December sales figures.
In a regulatory filing, the company reported a 25% year-on-year (YoY) increase in Royal Enfield sales, with 79,466 units sold in December compared to 63,887 units in the same month last year.
Motorcycles with engine capacities up to 350 cc recorded a 25% growth, reaching 69,476 units, while models above 350 cc also grew by 25% to 9,990 units. Exports surged 90% YoY to 11,575 units.
For the first nine months of the current financial year, Eicher Motors' sales volumes for Royal Enfield have grown by 6% to 7,27,077 units, compared to 6,85,059 lakh units sold during the same period last year.
"As we gear up for 2025, we are looking forward to sustaining our growth momentum and continue inspiring our riding community across the globe with pure motorcycling initiatives across the board," B Govindarajan, Royal Enfield CEO, said .
During the quarter, Royal Enfield also commenced operations of its first fully-owned and operated CKD assembly facility outside India in Bangkok. The facility is Royal Enfield's sixth global unit after Argentina, Columbia, Brazil, Bangladesh and Nepal.
The company also announced the expansion of its pre-owned motorcycle business, REOWN to 236 cities across the country.
As per Trendlyne data, the average target price of the stock is INR 4,869, which indicates a downside of 7% from the current market prices. The consensus recommendation from 38 analysts for the stock is a 'Buy'.
At 12:17 pm, the stock was trading 6.4% higher at INR 5,198.7 on the BSE. Over the past 12 months, it has gained 34%, and in the last three years, it has rallied 101%.
