The stock of this automobile company gained up to 4 percent after the company recorded more than 14 lakh units in retail sales in the 32-day festive period with 19 percent growth. 

With a market capitalization of Rs 65,759.88 crore, Hero Motocorp Ltd, On Thursday, the company shares were trading at Rs 3,262.45 a share, an increase of 3.55 percent from the previous close price. 

Exchange filing states that during the 32-day festive period this year, which fell between the first day of Navratras and Bhai Dooj, Hero Motocrop Ltd recorded its highest-ever festive sales, clocking in at over 14 lakh (1.4 million) units in retail sales. 

In addition to the above para, the company registered a 19 percent growth over the previous year and surpassed its previous highest retail of Rs 12.7 lakh unit which was recorded in the festive period of 2019. 

Examining the business’s financials, the company’s revenue increased 4 percent from Rs. 9,158.23 crores in Q2FY23 to Rs 9,533.07 crores in Q2FY24. During the same period, Net Profit increased by 41 percent from Rs 706.37 crores to Rs 1,002.52 crores. 

Hero Motocrop Ltd reported return ratios in the recent financial year with a return on equity (ROE) of 17.26 percent and a return on capital employed (ROCE) of 23.93 percent. 

Hero Motocrop Ltd’s recent shareholding pattern, The Promoters of the company own 34.77 percent while Retail shareholders own a 9.3 percent stake in the company and Foreign Institutional Investors own 26.79 percent stake. 

Hero MotoCorp Limited is an Indian multinational manufacturer of motorcycles and scooters. Its market share in the Indian motorcycle market is 48% overall, and its market share in the two-wheeler segment is 34%. 

Written by:- Abhishek Singh