Royal Enfield motorcycle manufacturer, Eicher Motors surpasses expectations in terms of PAT in the fourth quarter of FY23. The automobile giant posted a consolidated PAT of ₹905.6 crore in Q4FY23, rising by a whopping 48.42% year-on-year. Sequentially, the growth is around 22.24%.
In the quarter, the revenue stood at ₹3,804.32 crore, registering a growth against ₹3,193.32 crore in Q4 of the previous fiscal and ₹3,721 crore in December 2022 quarter.
Also, in the quarter, EBITDA stood at ₹933.6 crore, while margins were at 24.5%.
During the quarter, Royal Enfield recorded sales of 214,685 motorcycles, up 17.9% from 182,125 motorcycles sold during the same period in FY 2021-22.
In a meeting held on Thursday, the company's board members announced major good news for shareholders by recommending a final dividend of ₹37 per equity share for the fiscal FY23. Once this dividend is approved in the 41st annual general meeting, it will be paid within 30 days from the date of shareholders’ approval.
In addition, the Board has also approved a cash outlay towards capex of ₹1,000 crores for Financial Year 2023-24, which also includes the investment towards EV manufacturing facility and product
development and new product development under Internal Combustion Engine portfolio.
On BSE, Eicher's share price closed at ₹3,407.05 apiece down by ₹8.45 or 0.25%.
