World’s largest manufacturer of motorcycles and scooters gained 1 percent today after receiving 13,688 bookings for its newly launched flagship motorcycle.
On 5th october, shares of Hero Motocorp Ltd. closed at Rs. 3,020 up by 1.04 percent from previous closing price of Rs. 2989.05 per share.
Such bullish price movements are observed after the company announced in a press release that they have received 13,688 bookings for its newly launched flagship motorcycle, Karizma XMR. Dispatches of the motorcycle have already started and deliveries will begin in the festive period of this month.
Hero Karizma XMR was launched at an introductory price of Rs. 1,72,900 and the bookings for initial set of customers commenced on 29th august 2023 and were closed on 30th september 2023. The new Karizma will now be available at Rs. 1,79,900 (ex showroom Delhi) and the bookings will start soon.
Looking at the financial statements, the company’s revenue increased by 4.78 percent to Rs. 8,851.01 crores in Q1FY24 from Rs. 8,447.54 crores in Q1FY23. In the same time period the company’s net profit increased to Rs. 710.1 crores from 590.37 crores.
Talking about the financial ratios, the company reported return on equity (ROE) of 17.26 percent and return on capital employed (ROCE) of 23.93 percent.
Hero MotoCorp Limited is an Indian multinational motorcycle and scooter manufacturer headquartered in New Delhi. They are the world’s largest manufacturer of motorcycles and scooters in terms of unit volume sales in a calendar year as a single company since 2001.
Written by: Vinit Israni
