Royal Enfield is one of the most popular motorcycle brands in India. The bike still buzzes in the market and is known for its class and premium quality. However, there was a time, when this brand was going through its difficult phase. At the time, Siddhartha Lal took over the reins of Royal Enfield at the age of 26. He helped revive the company's fortunes. Now, Royal Enfield recorded sales of 2,27,925 motorcycles in the fourth quarter, up 6 per cent from 2,14,685 units in the year-ago period.
Siddhartha shaped the company by streamlining costs, bringing in new technology, and making the bikes more reliable and user-friendly. Siddhartha was the Chief Executive Officer of Royal Enfield for four years (2000-2004). Later, he was appointed as the chief operating officer (COO) of Eicher Motors. In May 2006, he took over as the CEO and MD of Eicher Motors. Since then, he has been leading the company as MD and CEO of Eicher Motors Ltd, the parent company of Royal Enfield. Today, Eicher Motors Ltd has a market cap of Rs 127000 crore.
Siddhartha holds a Master’s degree in Automotive Engineering from the University of Leeds, England. He is a Cranfield University qualified mechanical engineer. Siddhartha is also an Economics graduate from St. Stephens College, Delhi University and an alumnus of The Doon School.
Siddhartha has also been the chairman of VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors Ltd. (EML), from July 2008 to July 2010 On Saturday, his Eicher Motors reported an 18 per cent increase in consolidated profit after tax to Rs 1,070 crore for the fourth quarter ended March 2024.
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