Auto-major Eicher Motors Limited (EML) on Monday announced the appointment of Siddhartha Lal as the Executive Chairman of the Board, following the retirement of Chairman, S. Sandilya. In addition, the board also appointed Vinod Aggarwal as the Vice Chairman (Non-Executive), and B. Govindarajan as the new Managing Director of EML. Govindarajan will be replacing Lal as the new MD of Eicher.
Aggarwal will continue to be MD and CEO at VE Commercial Vehicles (EML’s joint venture with the Volvo Group), while B. Govindarajan will retain his role as the CEO of Royal Enfield.
After the Board meeting on Monday, Eicher Motors also announced its December quarter results. Its consolidated profit after tax (PAT) increased 18 per cent year-on-year to Rs 1,171 crore for the third quarter ended December 31, 2024, riding on higher sales.
Revenue from operations rose to Rs 4,973 crore in the December quarter compared to Rs 4,179 crore in the corresponding quarter of 2023-24 fiscal, Eicher Motors said in a statement. Royal Enfield recorded its highest-ever quarterly sales volume of 2,69,039 motorcycles in the December quarter, a growth of 17 per cent over 2,29,214 units sold in the year-ago period.