Royal Enfield registers a profit of Rs 558 crores; to open up technology center in UK

Eicher Motors Ltd - the company that manufactures bikes under the brand name of Royal Enfield - posted a standalone net profit figure of Rs 558.9 crores for the calendar year 2014.

This represents a 100% increase in annual profits with revenue also soaring from Rs 1702 crores in 2013 to Rs 3031 crores the following year.

Commenting on Royal Enfield’s performance, Mr.Siddhartha Lal, Managing Director & CEO, Eicher Motors Limited said, “Royal Enfield continues to grow at a phenomenal pace and this year we have achieved our best ever sales of over 300,000 units.’’

The ‘Bullet’ maker also plans to construct two technology centres, with the bigger of the duo to be housed on a 4.5 acre property in Chennai it recently bought. The second plant will be built in the UK and will be operational by the end of the year.

‘’These technology centres will significantly enhance our capability to execute our long- term product strategy. Our immediate business outlook is strong, and we are continuing to invest in all strategic areas for long-term growth,’’ Mr Lal added.

Having enjoyed so much success in world’s second largest populated country, the company aims to become ‘the leader in the global mid-sized motorcycling’. Last year, it opened its own showroom in London and announced KSR Group as its distributor in Germany. It also displayed its bikes during a number of key auto shows across Europe.