Transcript of Conference Call

www eichermotors com August 04, 2026 The Secretary The Secretary BSE Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers Exchange Plaza, 5% Floor, Plot No.C/1, Dalal Street G Block, Bandra Kurla Complex, Bandra (E) Mumbai-400 001 Mumbai-400 051 Security Code: 505200 Symbol: EICHERMOT Ref: Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 - Transcript of conference call Dear Sir/Madam, Further to our letter dated July 23, 2026 intimating the schedule of the conference call held on Wednesday, July 29, 2026, please find attached transcript of the aforesaid conference call, held inter-alia to discuss financial results for the first quarter ended June 30, 2026, pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015. The same is also available on the website of the Company www.eichermotors.com. The conference call started after the conclusion of the Board meeting of the Company. You are requested to take the same on your records. Thanking you, For Eicher Motors Limited Al Sl Date: 20260804 Sharma 12523 055 Atul Sharma Company Secretary Encl.A:s above Eicher Motors Limited Registered Office Corporate Office: CIN: L34102DL1982PLC129877 #96, Sector- 32 Office No.1111, T1th Floor, Ashoka Estate Gurugram — 122001 Plot No. 24, Barakhamba Road Haryana, India New Delhi-110 001, Indi Tel +91124 4415600 Tel +91.11-41095173 Email: info@eichermotors.com “Eicher Motors Limited Q1 FY27 Earnings Conference Call” July 29, 2026 G = EICHER PhillipCapital Your Partner In Finance MANAGEMENT: MR. B. GOVINDARAJAN — MANAGING DIRECTOR — EICHER MOTORS LIMITED AND CHIEF EXECUTIVE OFFICER — ROYAL ENFIELD MR. B. SRINIVAS — MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER — VE COMMERCIAL VEHICLES LIMITED (VECYV) MS. VIDHYA SRINIVASAN — CHIEF FINANCIAL OFFICER — EICHER MOTORS LIMITED MODERATOR: MR. AMIT HIRANANDANI — PHILLIP CAPITAL(INDIA) Eicher Motors Limited 29 July, 2026 Ladies and gentlemen, good day, and welcome to the Q1 FY27 Eamings Conference Call Moderator: of Eicher Motors Limited hosted by PhillipCapital (India). As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star and then zero on your touchtone phone. I now hand the conference over to Mr. Amit Hiranandani from PhillipCapital (India). Thank you, and over to you, Mr. Hiranandani. Thanks, Sagar. Good evening, everyone. On behalf of PhillipCapital (India), I welcome Amit Hiranandani: you all to Eicher Motors Q1 FY27 Earnings Conference Call. I take this opportunity to welcome the management team from Eicher Motors Limited. Today, we have with us Mr. B. Govindarajan, Managing Director, EML and CEO of Royal Enfield; Mr. B. Stinivas, MD and CEO of VECV; and Ms. Vidhya Srinivasan, Chief Financial Officer. Now I hand it over to the management for their opening remarks. Thank you, and over to you, sir. B. Govindarajan: Thank you. Hello, everyone. Good evening. Thank you for joining Eicher Motors Limited carnings call for the first quarter of FY27. After a record-setting performance in FY26, about which you all would have read in the recently released anmual report, we have kicked off the new financial year on an equally promising note. There has been an exceptional quarter actoss both the businesses. Royal Enfield registered its highest ever quarterly sales, while VECV also registered its highest ever Q1 sales. With both the businesses consolidating their market dominance, we are geared for a growth-led FY27. Now Tl begin with a broad summary of the overall financials. EML consolidated financials for the first quarter FY 26-27, our revenue, EML clocked its best ever Q1 revenue of INR 6,632 crores, marking a growth of 32% over INR 5,042 crores fiom Q1 of last year. Our EBITDA, highest ever EBITDA of INR 1,591 crores versus INR 1,203 crotes in QI last year, PAT at INR 1,463 crores, up 21% from INR 1,205 crores in Q1 last year which includes INR 168 crores of EML share of profits from VECV in the corresponding quarter. AtRoyal Enfield, and I'll just touch upon our key updates on Royal Enfield. We had a very fantastic quarter, continuing to consolidate our leadership in the middleweight motorcycle segment. The first quarter of the new financial year was marked with the key milestones, including the launch of our first electric motorcycle, the Flying Flea C6, the launch of the iconic Bullet on our 650cc platform and our expansion plans for the manufacturing readiness. &= EICHER Eicher Motors Limited 29 July, 2026 We also continue to-strengthen our global brand and community ecosystem with 125 years editions of our marquee rides and events. During the quarter, we registered our highest ever quarter sales at 332,940 motorcycles as against 261,326 in Q1 of FY26. Out oft his, in India, we sold 301,174 motorcycles. In the global market, our volumes stood at 31,766 motorcycles. Despite the dynamic ‘macroeconomic and geopolitical environment, we continue to see encouraging traction across all key markets. On the product front, we kick started the year with the launch of Flying Flea C6, as I mentioned, the first electric motorcycle under our city+ electric mobility brand, Flying Flea. Alongside the launch, we also opened the brand's first store in Jayanagar in Bengaluru., Customer deliveries of the electric motorcycles of Flying Flea C6 has commenced this quarter, which is a historic milestone for us. We have received a very positive customer response and to meet the growing interest, now we have decided to expand our footprint in Bengaluru, first five touch points, followed by another 5. As we have said in the past, we are looking at a city-by-city expansion strategy by Flying Flea. We also strengthened our internal combustion engine portfolio with the launch of our Bullet 650, the motorcycle pays tribute to the British lineage and Indian soul that brings the essence oft he iconic Bullet DNA in our 650cc platform. Our hugely popular roadster, the Hunter 350 got an expanded lineup, the new base premium variant and exciting colourways, introduced at our HunterHood in Lucknow, our street culture festival, the Hunter continues to bring in a wave of new and young riders into the community. I'm glad to share that both our 450 cc and 650 cc motorcycles are back at the pre-GST level, and we continue to invest in them to drive growth and expand this segment from now on. Another highly gratifying development was to see the Himalayan 450 becoming the best-selling adventure motorcycle in its class in various regions across the world, India and Brazil, especially. On the manufacturing front, as we gear up for the next phase of growth and to power it, we amnounced the plan for a strategic expansion of our manufacturing capacity through a new greenfield facility in Tada, Andhra Pradesh. This expansion is aimed at strengthening our manufacturing capacity beyond our existing facilities in Tamil Nadu and to meet the future demand. Today, the Board has approved an investment of INR1,225 crores for the Phase 1 of the greenfield expansion at Tada, which at full utilization can produce an additional 4.5 lakh motoreycles per year. The above capacity addition is expected to be completed during financial year 20-30. It will be happening in modules. Globally, we continue to broaden &= EICHER Eicher Motors Limited 29 July, 2026 our portfolio and global acclaim. We marked 125 years of Royal Enfield with the unveiling of World Origin Site plaque at Redditch, the birthplace of our brand with five generations of our motorcycles lining Enfield Road for the unveiling. And to our global brand, Royal Enfield was ranked as the world's third strongest automobile brand by Brand Finance, reflecting our growing strength across international markets. We expanded our portfolio in Nepal and Malaysia with the launch of the 2026 Goan Classic [Showing first 8,000 characters — download PDF for full document]