New Delhi. : The company reported a robust performance for the quarter, with double-digit growth across key financial indicators, including revenue, EBITDA, and PAT (Profit After Tax). For the first time, revenue from operations surpassed ₹13,000 crores, marking a 22% year-on-year (YoY) increase, driven by record sales in vehicles and spares.
Key Financial Highlights:
Revenue Growth: Revenue from operations exceeded ₹13,000 crores, up 22% YoY, fueled by strong domestic performance, a recovery in exports, and a richer sales mix.
EBITDA: The company achieved its highest-ever EBITDA of ₹2,653 crores, reflecting a 24% YoY increase, with margins exceeding 20%. Effective management helped mitigate the impact of increased electric two-wheeler (e2W) production and commodity inflation, with a 40 bps YoY margin improvement driven by favorable currency movements and operating leverage.
PAT: Profit After Tax (PAT) reached a record ₹2,216 crores, up 21% YoY, after adjusting for an exceptional deferred tax provision. The reported PAT stood at ₹2,005 crores, following a ₹211 crore provision for the one-time deferred tax impact due to changes in the Finance Act, 2024.
Operational Highlights:
Green Energy Milestones: The company’s green energy portfolio continued to grow, with around 100,000 total units sold in September and 100,000 electric vehicles sold during the quarter. Electric and CNG vehicles now account for 40% of total domestic revenue, underscoring the company’s strategic shift towards sustainable mobility.
Domestic Business: The domestic business achieved its highest revenue yet and marked its tenth consecutive quarter of double-digit growth. This growth was driven by strong gains in both motorcycles and commercial vehicles, with electric scooter sales nearly tripling.
Export Growth: Export revenue rose in double digits, aided by favorable USD/INR exchange rates, a richer product mix, and a record performance in Latin America (LATAM). The Pulsar brand continued to gain traction with over 110,000 units sold globally, while positive trends were observed in Africa.
Motorcycle Sales: The company maintained double-digit growth in motorcycles, supported by the premiumization of the Pulsar brand in the sports segment. The notable launch of the ‘Freedom 125,’ the world’s first CNG-integrated motorcycle, was a major highlight, with over 30,000 units sold across more than 350 cities.
Triumph Success: Triumph motorcycles delivered 50% quarter-on-quarter (QoQ) volume growth, with 10,000 domestic units and a total of 16,500 units sold through a network of over 100 dealers. The company also expanded its modern classic lineup with the introduction of the Speed T4 and the upgraded MY25 Speed 400.
Commercial Vehicles: The company set a new record, selling 140,000 commercial vehicles. In the electric three-wheeler (e3W) segment, the company’s market share doubled to 35%, driven by quality products and an expanded network of over 600 touchpoints.
Electric Scooters: The Chetak electric scooter continued its strong growth, with volumes surpassing 70,000 units, more than tripling YoY and capturing a 21% market share in September. This success was bolstered by the launch of an affordable variant and an expanded distribution network of nearly 3,000 touchpoints.
Strong Cash Generation:
The company continued to generate significant free cash flow, adding over ₹2,000 crores during the quarter. The balance sheet remains robust, with surplus cash of ₹16,392 crores, despite strategic investments of ₹1,200 crores and the distribution of ₹2,233 crores in dividends in the first half of FY25.
The company’s strong performance in both domestic and international markets, along with its focus on sustainable mobility and strategic investments, highlights its ability to navigate challenges and deliver consistent growth.
