Eicher Motors

Eicher Motors Limited
Type	Public
Traded as	BSE: 505200; NSE: EICHERMOT; NSE NIFTY 50 constituent;
ISIN	[https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language=en&isin=INE066A01013 INE066A01013]
Industry	Automotive
Predecessor	Goodearth Company
Founded	1948; 78 years ago
Founder	Vikram Lal
Headquarters	New Delhi, India
Area served	Worldwide
Key people	S Sandilya (chairman); Siddhartha Lal (Executive Chairman);
Products	Commercial vehicles; Motorcycles;
Revenue	₹20,175 crore (US$2.8 billion) (2025)
Operating income	₹5,933 crore (US$830 million) (2025)
Net income	₹4,734 crore (US$660 million) (2025)
Total assets	₹27,174 crore (US$3.8 billion) (2025)
Total equity	₹21,296 crore (US$3.0 billion) (2025)
Owner	Siddhartha Lal (49.28%)
Number of employees	4,899 (March 2020)
Subsidiaries	Royal Enfield; VE Commercial Vehicles (54.4%);
Website	www.eicher.in
	Footnotes / references; Financials as of 31 March 2025.

Eicher Motors Limited is an Indian multinational automotive company that manufactures motorcycles and commercial vehicles, headquartered in New Delhi. Eicher is the parent company of Royal Enfield, a manufacturer of middleweight motorcycles. It also manufactures Eicher branded trucks and buses, under a joint venture with Volvo Group.^[2]

History

Eicher Motors Limited, the Indian company, is a commercial vehicle manufacturer in India. It traces its origins to the Goodearth Company, established in 1948 to sell and service imported tractors in India. In 1958, Eicher Tractor Corporation of India was established to manufacture tractors in India by Goodearth Company in collaboration with Eicher Tractors of Germany.^[3] The company manufactured its first indigenous tractor in 1959, and a year later changed its name to Eicher Tractors India Ltd.^[4]

Since 1965, Eicher in India has been completely owned by Indian shareholders. The German Eicher tractor was partly owned by Massey Ferguson from 1970, when they bought 30%. Massey Ferguson bought out the German company in 1973.^[5]

In 2005, Eicher Motors Ltd sold their tractors and engines business to TAFE Tractors (Tractors and Farm Equipment Ltd) of Chennai, the Indian licensee of Massey Ferguson tractors.^[6]

In October 1982, a collaboration agreement with Mitsubishi for the manufacture of light commercial vehicles (LCVs) was signed in Tokyo and in the same period the incorporation of Eicher Motors Limited also took place. LCVs were sold under the "Eicher Mitsubishi" brand. In February 1990, Eicher Goodearth bought 26% stake in Enfield India Ltd and by 1993 Eicher acquired a majority stake (60% equity shareholding) in Royal Enfield India.

In July 2008, Eicher Motors Limited (EML) and Volvo Group's formed a 50:50 joint venture called VE Commercial Vehicles (VECV) which designs, manufactures and markets commercial vehicles, engineering components and provides engineering design.^[7]

At present, Volvo Group owns 45.6% of VECV,^[8] while Eicher Motors holds the remaining 54.4%.^[9] In 2020, VECV bought Volvo Buses India operations for ₹100 crore.^[10]

In 2012, Eicher Motors started a joint venture with American company Polaris Industries called Eicher Polaris to make personal utility vehicles, starting with Eicher Polaris Multix in 2015. This joint venture company ceased operations in 2018.^[11]

Group structure

The Eicher Group has business interests in design and development, manufacturing, and local and international marketing of trucks, buses, motorcycles, automotive gears, and components.

VE Commercial Vehicles

VE Commercial Vehicles (VECV) Limited is a joint venture between Volvo Group and Eicher Motors Limited. VECV is divided into five business units:^[12]

Eicher Trucks and Buses
Volvo Trucks India
Eicher Engineering Components
VE Powertrain

Royal Enfield Motors

Royal Enfield Motors, the motorcycle manufacturing subsidiary, is a part of Eicher Motors.^[13]

Vehicles

Eicher DragonHawk
Eicher multix polaris
Eicher Trucks
Eicher Buses
Eicher Tractors
Royal Enfield Motorcycles

References

External links

Official website

Template:Nifty 200 companies Template:S&P CNX Nifty companies

0.00

(0 votes)

Original source: https://en.wikipedia.org/wiki/Eicher Motors. Read more

[1] "Consolidated Financials for the Quarter and Year Ended March 31, 2025". Eicher Motors. https://www.eicher.in/content/dam/eicher-motors/investor/financial-and-reports/quarterly-results/consolidated-financial-may-14-2025.pdf.

[2] "VE Commercial Vehicles Ltd.". https://www.vecv.in/.

[3] "Eicher Motors Ltd: A Journey Of Successful Turnarounds" (in en). https://www.forbesindia.com/article/leadership/eicher-motors-ltd-a-journey-of-successful-turnarounds/93970/1.

[4] "Eicher :: Eicher Motors Limited :: About Us :: Success Story :: Milestones". https://eicher.in/about-us/milestones.

[5] "Eicher Motors Share Price Today Live Updates: Eicher Motors Sees Marginal Decline in Price, EMA5 Reflects Recent Trend" (in en). https://economictimes.indiatimes.com/markets/stocks/stock-liveblog/eicher-motors-share-price-today-live-updates-07-may-2024/liveblog/109901370.cms.

[6] "Tafe buys Eicher's tractor, engine & gear businesses for Rs 310 crore". The Economic Times. 2005-05-26. ISSN 0013-0389. https://economictimes.indiatimes.com/tafe-buys-eichers-tractor-engine-gear-businesses-for-rs-310-crore/articleshow/1122079.cms.

[7] DHNS. "Volvo set to trim Eicher Motors exposure again" (in en). https://www.deccanherald.com/business/volvo-set-trim-eicher-motors-2131980.

[8] "Annual and Sustainability Report 2016". Volvo. pp. 74. http://www.volvogroup.com/content/dam/volvo/volvo-group/markets/global/en-en/investors/reports-and-presentations/annual-reports/annual-and-sustainability-report-2016.pdf.

[9] "Investor Presentation May 2022". Eicher Motors: p. 47. https://www.eicher.in/uploads/1652449394_eicher-motors-earnings-presentation-for-4Q-%26-FY2021-22.pdf.

[10] Mishra, Lalatendu (2020-08-13). "Eicher Motor subsidiary to buy Volvo India's bus business for ₹100 crore" (in en-IN). The Hindu. ISSN 0971-751X. https://www.thehindu.com/business/eicher-motors-buys-volvo-indias-bus-business/article32343637.ece.

[11] "Eicher Motors ends JV with US-based Polaris". The Times of India. 12 March 2018. https://timesofindia.indiatimes.com/business/india-business/eicher-motors-ends-jv-with-us-based-polaris/articleshow/63268139.cms.

[12] "VE Commercial Vehicles Ltd.". http://www.vecv.in.

[13] Saraiya, Kriti (March 22, 2024). "Eicher Motors incorporates 100% subsidiary 'Royal Enfield Europe' in Netherlands" (in en). The Economic Times. https://auto.economictimes.indiatimes.com/news/two-wheelers/eicher-motors-incorporates-100-subsidiary-royal-enfield-europe-in-netherlands/108713432.

[1]

[2]

[3]

[4]

[5]

[6]

[7]

[8]

[9]

[10]

[11]

[12]

[13]