Q2 Results 13th Nov highlights: Granules, Muthoot Finance & Paras Defence Q2 PAT soar, Eicher Motors, Hero Motocorp, NBCC & Alkem Lab profit up, Tata Motors posts Rs 867-crore loss; Voltas, LG Electro
01 January 2026
“VECV delivered a solid performance in Q2 FY26, growing by 5.4% year-on-year and registering our best ever second quarter in terms of truck and bus deliveries. Eicher retained its position as the market leader in Light and Medium Duty Trucks (5-18.5 T GVW), while delivering 10,096 units in the quarter. We continue to make steady progress in the Heavy-Duty trucks segment, recording our best ever second quarter deliveries and a market share of 10.5% during the period.
Reflecting our expanding Dealer Network and focus on Customer Service and Uptime, spare parts sales grew 11.8% quarter-on-quarter. Volvo Trucks and Buses continue to dominate their respective segments. During the quarter we launched the Eicher Pro Plus range of medium duty trucks with air-conditioned cabs to conform to legal mandates.
Equipped with a unique fuel-efficient compressor technology, these trucks were launched with improvements to loading capacity to deliver a win-win for both operators and drivers. Profit After Tax for the quarter improved to ₹249.3 cr, a growth of 19.7% over the corresponding period last year. GST rationalization has had a positive impact on consumer confidence and consumption. This will in-turn support demand for commercial vehicles in the coming period”
“This has been a truly encouraging quarter for Eicher Motors, as we recorded strong performance across the board for both Royal Enfield and VECV. At Royal Enfield, we have continued to deliver steady growth in volumes while further strengthening our growth story quarter after quarter. We witnessed an outstanding festive season, achieving record sales of 2.49 lakh units. The Government of India’s GST reform has further enhanced accessibility for motorcycles under 350cc, as reflected in the strong customer demand.
At EICMA, this year, we marked a significant milestone in Royal Enfield’s legacy as we entered our 125th year of Pure Motorcycling, a legacy that is built on authenticity, craftsmanship, and an unwavering pursuit of timeless design. From crafting the world’s first production motorcycle in 1901 to becoming a global symbol of pure motorcycling, Royal Enfield’s journey has been one of evolution anchored in heritage.
Our showcase at EICMA this year reflected a perfect blend of past, present and future; ranging from the special edition of our most iconic motorcycle – the Classic 650 to a bigger and bolder Bullet 650, to pushing the boundaries of urban exploration with the Flying Flea S6. VECV, too, has continued to show steady growth, supported by a robust product portfolio and a deep understanding of India’s changing commercial mobility landscape. Our ongoing focus on developing sustainable and efficient transport solutions positions us strongly for the future. As we progress, our dedication to long-term value creation remains firm, driven by customer-centric innovation, global aspirations, and meaningful brand experiences at every level.”
“We are delighted to deliver a resilient financial performance with healthy growth in both revenue and profitability. The improvement in EBITDA and PAT reflects our continued focus on operational excellence, disciplined execution, and the strength of our governance. Our ongoing investments in R&D and talent underscore our commitment to innovation and long-term value creation.
Our peptides CDMO platform through Ascelis, anchored in the legacy of Senn Chemicals in Switzerland, is steadily gaining visibility, with renewed customer interest and promising new discussions underway.”
“VECV delivered a solid performance in Q2 FY26, growing by 5.4% year-on-year and registering our best ever second quarter in terms of truck and bus deliveries. Eicher retained its position as the market leader in Light and Medium Duty Trucks (5-18.5 T GVW), while delivering 10,096 units in the quarter. We continue to make steady progress in the Heavy-Duty trucks segment, recording our best ever second quarter deliveries and a market share of 10.5% during the period. Reflecting our expanding Dealer Network and focus on Customer Service and Uptime, spare parts sales grew 11.8% quarter-on-quarter. Volvo Trucks and Buses continue to dominate their respective segments. During the quarter we launched the Eicher Pro Plus range of medium duty trucks with air-conditioned cabs to conform to legal mandates. Equipped with a unique fuel-efficient compressor technology, these trucks were launched with improvements to loading capacity to deliver a win-win for both operators and drivers. Profit After Tax for the quarter improved to ₹249.3 cr, a growth of 19.7% over the corresponding period last year. GST rationalization has had a positive impact on consumer confidence and consumption. This will in-turn support demand for commercial vehicles in the coming period” “This has been a truly encouraging quarter for Eicher Motors, as we recorded strong performance across the board for both Royal Enfield and VECV. At Royal Enfield, we have continued to deliver steady growth in volumes while further strengthening our growth story quarter after quarter. We witnessed an outstanding festive season, achieving record sales of 2.49 lakh units. The Government of India’s GST reform has further enhanced accessibility for motorcycles under 350cc, as reflected in the strong customer demand. At EICMA, this year, we marked a significant milestone in Royal Enfield’s legacy as we entered our 125th year of Pure Motorcycling, a legacy that is built on authenticity, craftsmanship, and an unwavering pursuit of timeless design. From crafting the world’s first production motorcycle in 1901 to becoming a global symbol of pure motorcycling, Royal Enfield’s journey has been one of evolution anchored in heritage. Our showcase at EICMA this year reflected a perfect blend of past, present and future; ranging from the special edition of our most iconic motorcycle – the Classic 650 to a bigger and bolder Bullet 650, to pushing the boundaries of urban exploration with the Flying Flea S6. VECV, too, has continued to show steady growth, supported by a robust product portfolio and a deep understanding of India’s changing commercial mobility landscape. Our ongoing focus on developing sustainable and efficient transport solutions positions us strongly for the future. As we progress, our dedication to long-term value creation remains firm, driven by customer-centric innovation, global aspirations, and meaningful brand experiences at every level.” “We are delighted to deliver a resilient financial performance with healthy growth in both revenue and profitability. The improvement in EBITDA and PAT reflects our continued focus on operational excellence, disciplined execution, and the strength of our governance. Our ongoing investments in R&D and talent underscore our commitment to innovation and long-term value creation. Our peptides CDMO platform through Ascelis, anchored in the legacy of Senn Chemicals in Switzerland, is steadily gaining visibility, with renewed customer interest and promising new discussions underway.”
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