Royal Enfield Overtakes Bajaj, Hero In Market Capitalisation
- Royal Enfield becomes the most valuable two-wheeler company
- Overall revenue is still lower than Hero MotoCorp and Bajaj Auto
- Royal Enfield is the fourth most valuable automobile manufacturer
Royal Enfield has overtaken two of the top Indian two-wheeler manufacturers Hero MotoCorp and Bajaj Auto to become the most valuable two-wheeler company. Over the past week, shares of Royal Enfield's parent company Eicher Motors rose nearly 8 per cent to hit an all-time high of Rs. 31,600 on the National Stock Exchange. The rally in Eicher Motors shares began after the company reported a 20.75 increase in total sales in July. The company's market valuation stood at Rs. 85,578.09 crore on July 31, according to data from the Bombay Stock Exchange (BSE).
In terms of overall revenue though, Eicher Motors still falls short of Hero MotoCorp and Bajaj Auto, and a little less than a decade ago, the company's market cap was just a fraction of Hero MotoCorp and Bajaj Auto. Now, Eicher Motors is the fourth most valuable automobile company in India, after Maruti Suzuki, Tata Motors and Mahindra and Mahindra. When contacted, Royal Enfield refused to comment on the development.
The Royal Enfield Classic 350 is the largest selling Royal Enfield motorcycle
Earlier this week, Eicher Motors reported sales of 64,459 Royal Enfield motorcycles in July 2017, a 21 per cent increase over 53,378 units a year ago. Royal Enfield's domestic sales show no sign of a slowdown with its bestselling Classic 350 leading the brand's sales volumes.
Also Read: Royal Enfield, Suzuki Post Strong Growth Figures in July
Even as the overall two-wheeler market remained sluggish over the past decade or so, Royal Enfield has seen brisk sales of its models. A switch to more conventional left hand side gear shifter across all Royal Enfield models at the turn of the century and a new, more fuel-efficient, and more reliable twinspark engine made Royal Enfield bikes more accessible and more attractive to motorcycle buyers. As things stand today, there are still several weeks of waiting period for the Royal Enfield Classic 350 at dealerships. The Classic 350 is the largest selling Royal Enfield model in the domestic market.
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