"Royal Enfield has been investing in building capacity and capabilities. In May 2017, Royal Enfield moved into its technical centre located at Leicester, UK. The area for office and testing is spread over 36,000 square feet and currently have more than 100 employees working on developing our upcoming platforms. Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally," Siddhartha added.

Commenting on VE Commercial Vehicles (VECV)'s performance Siddhartha said, "The CV industry was affected by the transition from BS-III to BS-IV emission norms and the implementation of GST  The industry grappled with the large BS-III inventory. The actual impact to the CV segment will be known only after the channel stocks normalise. However, as a result of all these issues in Q1 2017-18 VECV declined by 27.9% against an industry decline of 24.2% with a sale of 11583 units over 16071 units same period last year. In the month of June 2017, we reduced the channel stocks by more than 1000 units that could give us an advantage in the coming months when the channel stocks become normal."

"Our joint venture with Eicher Polaris Pvt Ltd (EPPL) continues to be on track as we expand our network. We opened our first dealership outside India - in Nepal in July 2017, " Siddhartha further added.

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