Royal Enfield volumes up 27% yoy in March 2018, closes FY18 with record volumes
RE ended the year with record volume of 8,20,493 motorcycles, growth of 23% yoy. Exports stayed robust during the year, with volumes growing 25% yoy. The company recently launched two variants of its Thunderbird franchise – Thunderbird 350X and 500X in the Indian market. It also plans to launch Interceptor 650 and Continental GT 650 in India, in the coming months. Response to the launches will remain a key monitorable.
EML owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India. EML has not been able to produce any other blockbuster product post the success of its ‘Classic’ and ‘Bullet’ models. After the weak response of Himalayan and Continental GT, further volume growth trajectory for RE will hinge on the success of its recently launched Thunderbird 500X and Thunderbird 350X. A slowdown is expected in new orders, a large part of network expansion benefit is behind, with tier I & II cities largely penetrated.
Eicher Motors Ltd is currently trading at Rs28,478.50 up by Rs141.55 or 0.5% from its previous closing of Rs28,336.95 on the BSE.
The scrip opened at Rs28,350 and has touched a high and low of Rs28,787 and Rs28,350 respectively. So far 20,287 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs77,233.91cr.