EICHER MOTORS LIMITED

Eicher Motors Limited (EML) is a leading player in the Indian automotive space. EML owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India.

The oldest motorcycle brand in continuous production world-wide, Royal Enfield has witnessed a huge surge in demand in the recent past and is charting its course to be the leading player in the mid-sized motorcycle segment globally. EML's joint venture with the Volvo group, Ve Commercial Vehicles Limited, designs, manufactures and markets reliable, fuel efficient trucks and buses; and is leading the path in driving modernization in commercial transportation in India and other developing markets. Eml's joint venture with US-based Polaris Industries Inc formed in 2012, Eicher Polaris Private Limited launched the Multix, a new 3-in-1 vehicle purpose built for the independent businessman in June, 2015.

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Motorcycles

Royal Enfield

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Commercial vehicles

Volvo Eicher Commercial Vehicles (VECV)

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Personal Utility Vehicles

Eicher Polaris Pvt Limited (EPPL)

LETTER TO THE SHAREHOLDERS

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Dear Shareholders,

I am very happy to present the Annual Report 2016-17 of Eicher Motors Limited (EML).

It has been a spectacular year of all-round performances and achievements.We have achieved record sales and profits once again, and we have made significant progress on several initiatives and projects that we had set out to accomplish this year. 2016-17 was another strong year in delivering profitable growth and further strengthening the robustness of our business model. Comparing 2016-17 to 2014-15, Royal Enfield’s sales volume grew by 101%, market share in 150cc and above category of motorcycles grew from21% to 24%.

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GEOGRAPHIC FOOTPRINT

Headquartered in Gurugram, India

Two tech centres
- Leicester, UK (existing)
- Chennai, India (upcoming)

Three manufacturing facilities in Tamil Nadu, India
- Tiruvottiyur and Oragadam (existing)
- Vallam Vadagal (upcoming)

25 exclusive Royal Enfield stores across UK, Colombia, USA,UAE, France, Spain, Indonesia, Thailand,Philippines, Australia, Portugal, Malaysia and Brazil

Two market companies in USA and Brazil

675+ stores in India