It's the 450cc+ premium shift that drives the story, and this quarter delivered a margin step-up to 26.6% despite the 350cc GST mixback.
Overall read
6.4/10
No price read
The three reads · this quarter
It's the 450cc+ premium shift that drives the story, and this quarter delivered a margin step-up to 26.6% despite the 350cc GST mixback.
Overall read
6.4/10
No price read
The three reads · this quarter
The standing reads · change less often
Moat
Wide, well-protected edge
Royal Enfield's brand-led category dominance is cycle-tested; community and scale reinforce a WIDE moat.
Key variables
5 tracked
lead: Royal Enfield Mid-Size Market Share (India)The eight-point decline over six quarters is being absorbed by Royal Enfield's own platform diversification — 450cc Guerrilla and 650cc Classic cannibalising 350cc — rather than competitor capture; Hero's Harley X440 and Bajaj's Triumph 400 have not built sustained share in the high single digits. The share line is reading as a mix story, not a moat story.
Walk the talk
Royal Enfield capacity expansion to 2M units by FY28 supports volume growth.
Latest · newest first
No material exchange filings in the last 60 days. Latest scored quarter: Q1FY27.
Open the Exchange DeskNot enough data
1 of 1 guidance items delivered on time