The shares of the largest two-wheeler manufacturers gained up to 1.4 percent after the company’s net profit and revenue increased up to 51 percent and 20 percent YoY, respectively in the third quarter and declared an interim dividend of Rs. 100 per equity share for the fiscal year 2023-24. 

With a market capitalization of Rs 93,961.95 crore, the shares of Hero MotoCorp Ltd closed at Rs 4,700.75 per share, decreased around 4.23 percent as compared to the previous closing price of Rs 4,908.50 apiece. 

Looking into the company’s Performance, Hero MotoCorp Ltd’s revenue increased by 3 percent on a quarter-on-quarter basis from Rs. 9,533 crores in Q2FY24 to Rs. 9,788 crores in Q3 FY24. Furthermore, revenue jumped by 20 percent year on year from Rs. 8,118 crores in Q3FY23 to Rs.9,788 crores in Q3FY24. 

Hero MotoCorp Ltd’s net profit increased by 8 percent on a quarter-on-quarter basis from Rs.1,007 crores in Q2FY24 to Rs. 1,091 crores in Q3FY24. Further, net profit increased by 51 percent yearly from Rs. 721 crores in Q3FY23 to Rs.1,091 crores in Q3FY24. 

According to the company filing, Hero MotoCorp Ltd announced an interim dividend of Rs 75 per equity share and a special dividend of Rs 25 per equity share, a total interim dividend of Rs. 100 per equity share for the financial year 2023-24. 

Furthermore, the company is investing up to Rs 600 crore, over two years to set up a Global Parts Center (GPC) 2.0 with a storage capacity of up to 36,700 Stock Keeping Units(SKUs), at Tirupati, Andhra Pradesh. 

During Fiscal Year 2022-23, the business sold 5.4 million bikes and scooters, up from 4.9 million in Fiscal Year 2021-22. Although Hero’s sales in the Entry and Deluxe 125 cc categories were down, they were offset by sales in the Deluxe 100/110 cc and Premium segments, which increased market share in the below-200cc Premium sector. 

Hero MotoCorp Limited develops, manufactures, markets, sells, and distributes two-wheelers, as well as their components and accessories. Its product offerings include bikes, scooters, and components. Its motorbike models include the XTREME 200S, XTREME 160R BS6, XPULSE 200T, and many others. 

Written by:- Abhishek Singh


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