The shares of the world’s largest two-wheeler manufacturer rose 4 percent to an all-time high price of ₹4,661.25 apiece, in afternoon trade on wednesday after the company announced strong Q4 results with net profit increased by 16% YoY.
On Wednesday, At 3:05 p.m, Hero MotoCorp Ltd shares were trading at ₹4,610 per share, up 2.95 percent from the previous close price on the National Stock Exchange, and the company has a market capitalization of ₹90,479 crores.
Hero MotoCorp Ltd announced a consolidated net profit of ₹943 crores for the quarter ending March 2024 (Q4FY24), marking a 16% rise from ₹810 crores recorded in Q4FY23. Additionally, the company’s total revenue for the same quarter surged by 13%, reaching ₹9,794 crores compared to ₹8,671 crores in the previous year’s corresponding quarter.
For the fiscal year 2023-24, the company reported a consolidated net profit of ₹3,742 Crores, up 34% from ₹2,799 crores in FY22-23. Similarly, the total revenue for the fiscal year grew by 11%, standing at ₹38,643 crores compared to ₹34,727 crores in the previous fiscal year. As per the company’s filing.
In the fourth quarter of FY’24, the company experienced significant sales , with 13.92 lakh units of motorcycles and scooters sold, marking a notable increase from the 12.70 lakh units sold in the same period of FY’23.
This surge in sales translated into a revenue of ₹. 9,794 Crore, representing a robust 15% growth compared to the corresponding quarter of the previous fiscal year. Additionally, the company achieved impressive financial performance, as reflected in its Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) of ₹1,359 Crore for Q4 FY’24, indicating a substantial 25% growth.
Hero MotoCorp shares have gained 47 percent in the last six months and 78 percent in a year.
The Company is engaged in the manufacturing and selling of motorized two-wheelers, spare parts, and related services. The Company has over 9.50 million annual production capacity across 8 manufacturing facilities i.e., 6 in India and one each in Colombia and Bangladesh.
The company board has recommended a final dividend of 2,000%, equivalent to ₹. 40/- per share (with a face value of Rs. 2 per equity share), contingent upon approval by the members of the Company during the forthcoming 41st Annual General Meeting.
Written by Omkar Chitnis
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