- Sat May 28, 2016 6:16 pm
#6312
RE profits jump by a massive 74.5%
The best accounting numbers ever posted by Royal Enfield India. That's the official word from the Chennai-based manufacturer of the seemingly timeless 500cc Bullet and 500cc Continental. But Royal Enfield, owned by the Eicher Group, builds hundreds of thousands of smaller bikes for its domestic market, and it's largely these machines that are responsible for rising sales.
Nevertheless, Royal Enfield reckons that in the 12 months to March 2016, the firm's revenue jumped by 55.7% to £543.9million. This, we hear, is due to sales of 508,099 machines which is a 53.4% increase. The operating profit was 74.5%, or £141.58million. The company's net profit rose to £105.8miliion (66.1%)
Currently under the shrewd and watchful eye of chief executive and hands-on-handlebars Siddhartha Lal, Royal Enfield has been investing heavily in developing new machines and consolidating its position as a manufacturer of alternative/cool/classic motorcycles for the style-dude and dudess about town. The company is busy developing a new R&D facility in Leicestershire and is rumoured to be working on new and more radical models.
Last year, Siddhartha Lal was anticipating sales of at least 450,000 units. It seems that that number has been safely passed. The firm is now setting its sights on sales of 675,000 motorcycles for the 2016 - 2017 financial year. Taken from Sump magazine.
The best accounting numbers ever posted by Royal Enfield India. That's the official word from the Chennai-based manufacturer of the seemingly timeless 500cc Bullet and 500cc Continental. But Royal Enfield, owned by the Eicher Group, builds hundreds of thousands of smaller bikes for its domestic market, and it's largely these machines that are responsible for rising sales.
Nevertheless, Royal Enfield reckons that in the 12 months to March 2016, the firm's revenue jumped by 55.7% to £543.9million. This, we hear, is due to sales of 508,099 machines which is a 53.4% increase. The operating profit was 74.5%, or £141.58million. The company's net profit rose to £105.8miliion (66.1%)
Currently under the shrewd and watchful eye of chief executive and hands-on-handlebars Siddhartha Lal, Royal Enfield has been investing heavily in developing new machines and consolidating its position as a manufacturer of alternative/cool/classic motorcycles for the style-dude and dudess about town. The company is busy developing a new R&D facility in Leicestershire and is rumoured to be working on new and more radical models.
Last year, Siddhartha Lal was anticipating sales of at least 450,000 units. It seems that that number has been safely passed. The firm is now setting its sights on sales of 675,000 motorcycles for the 2016 - 2017 financial year. Taken from Sump magazine.
