VECV Nears Rs 26,000 Crore Turnover as Leadership Baton Passes to Srinivas

Vinod Aggarwal, who stepped down as MD & CEO of Volvo Eicher Commercial Vehicles (VECV) effective April 1, expects the company to close the last fiscal year with a turnover of Rs 26,000 crore based on that year's volume. In FY25, the company reported Rs 23,548 crore in revenue from operations, an 8% jump.

Aggarwal has now transitioned into the role of Chairman of the Board at VECV and Vice Chairman of Eicher Motors Ltd.

"When we started VECV in 2008, our turnover was around Rs 2,000 crore, and we are likely to be around Rs 26,000 crore in the last financial year based on the volume for the year. In the last financial year, we also crossed sales of over 1,03,000 trucks and buses – making a long-cherished dream to cross 1,00,000 units a reality," Aggarwal stated in a social media post.

The top executive highlighted that VECV currently has market leadership in LMD trucks, a strong position in buses (both Eicher and Volvo brands), close to a 10% market share in HD trucks (both Eicher and Volvo brands), entry into the large small commercial vehicle market, and a growing components/engines business. The company is well positioned to achieve greater heights.

During his nearly forty-three years at the Eicher Group, Aggarwal worked for the last sixteen years as the Managing Director and CEO of VECV.

B. Srinivas, who has served as the company’s Chief Operating Officer since 2024, has been appointed Managing Director and Chief Executive Officer. Srinivas, too, has been an old hand at the company, joining Eicher way back in August 1994 as a deputy manager in product development. Before becoming COO in 2024, he served as Head of Product Strategy & Purchasing from 2022 to 2024. Between 2018 and 2022, he led the Eicher bus business at VECV, overseeing the company’s expansion in the segment.