Whalesbook
Aakhirkar Classic Legends ne FY26 mein profit kama hi liya hai! Pichhle kuch saalon se losses dekhne ke baad yeh ek bahut badi success story hai. Company ki retail sales mein 40% ka zabardast jump aaya hai, jo total 45,409 units tak pahunch gayi. Socho, yeh growth toh 350cc segment ke average 19% growth se bhi kaafi aage hai! Naye models launch karne aur festive season ki solid demand ne is recovery mein bahut help kiya hai. Ab company FY27 ke liye ekdum pumped up hai, aur sales toh 70,000 units cross karne ka target hai.
FY27 mein growth aur margin support ke liye bhi kaafi reasons hain. Management ko umeed hai ki commodity prices kam hongi, jisse profit margins aur acche honge. Exports, jo abhi sirf 10% hain, unhe double karke 20% tak le jaane ka plan hai, aur woh bhi un new markets mein jahan margins zyada milte hain. Aur haan, company 4 naye ICE (Internal Combustion Engine) models launch karne wali hai, jisse unka mid-capacity segment aur bhi strong ho jayega. Yeh strategy thoda alag hai kyunki industry mein sabhi EVs ki taraf bhaag rahe hain. Unki parent company, Mahindra & Mahindra (M&M), jo NSE pe listed hai, uska market cap lagbhag ₹3.91 lakh crore hai, aur P/E ratio 26.03-26.78 ke beech hai. Pichhle ek saal mein M&M ka stock bhi 5.37% badha hai, jo unke overall business pe trust dikhata hai.
Lekin jab baat electric vehicles (EVs) ki aati hai, toh Classic Legends ka approach kaafi cautious hai. Managing Director Anupam Thareja ne bataya ki UK mein unka jo electric BSA model hai, woh abhi profitable nahi hai. Unka main focus brand building par hai, aur woh competitors ke short-term trends ko follow nahi karna chahte. Indian premium motorcycle market kaafi bada hai, $2.4 billion ka 2025 mein, aur $5.8 billion tak jaane ka projection hai 2034 tak. FY26 ke pehle 10 mahine mein 125cc se upar wale bikes ne total volumes ka lagbhag 26% hissa banaya.
Competition toh bhaari hai bhai! Royal Enfield toh apne segment mein raja hai, FY26 mein 1.2 million units se zyada bech diye, jo 23% ka jump hai. Triumph Motorcycles ne bhi Bajaj Auto ke saath partnership mein India mein 100,000 units se zyada bikes bech diye hain, mostly unke 400cc range se. Classic Legends ab US market mein tariffs ki problems ko bhool kar Europe par export focus karegi. Ek aur potential headache yeh hai ki September 2025 se 350cc se upar wale motorcycles par GST 40% ho sakta hai, jisse ye premium bikes aur bhi mehngi ho jayengi. Pichhle kuch sales issues aur distribution problems ne bhi unhe affect kiya tha, par ab sab theek ho raha hai.
Future outlook ki baat karein toh, Classic Legends apni vendor capacity aur distribution network ko expand karne par focus kar rahi hai, jahan FY28 tak 700+ touchpoints ka target hai. Abhi IPO ka koi plan nahi hai, kyunki capital needs manageable hain. Analysts ne pehle parent company M&M ko 'Strong Buy' rating di thi, par April 2026 ke update ke baad price weakness aur technical signals ko dekh kar 'Hold' pe downgrade kar diya hai. Toh thoda sambhal kar rehna padega.