New Delhi, May 26 -- Eicher Motors rode strong demand for premium motorcycles to deliver a steady March quarter (Q4FY26), aided by robust volume growth, though Ebitda margin fell 60 basis points sequentially to 24.9% due to higher raw material costs.

Margins are expected to remain under pressure. Eicher expects commodity cost pressures of about 3-3.5% in Q1FY27. To partially offset the impact, Royal Enfield implemented a 1.75% price increase in April, while VE Commercial Vehicles (VECV) raised prices by about 2%.

Consolidated revenue rose 16% year-on-year to Rs.6,080 crore in Q4FY26, and Ebitda was up 20% to Rs.1,514 crore.

Nuvama Research expects growth to continue with a 15% annual volume increase over FY26-28E. This momentum will be...