Hero MotoCorp Q4 Results Highlights: Net profit rises 18% YoY to ₹1,016 crore, dividend announced

Hero MotoCorp Q4 Results Live Update at 4:04 pm: FY24 highlights

• Volume– 56.21 lakh units of motorcycles and scooters sold in FY24 versus 53.29 lakh units in FY23
• Revenue from operations– ₹37,456 crore, a growth of 11% over the previous year
• EBITDA for FY24 stands at ₹5,256 crore, growth of 32%
• PBT before exceptional item at ₹5,418 crore, growth of 40%
• Net PAT– ₹3,968 Crore, growth of 36%

Hero MotoCorp Q4 Results Live Update at 3:53 pm: Q4 FY24 highlights

• Volume– 13.92 lakh units of motorcycles and scooters sold in Q4 FY24 versus 12.70 lakh units in Q4 FY23
• Revenue from operations- ₹9,519 crore, a growth of 15% over the corresponding quarter in the previous fiscal
• EBITDA for Q4 FY24 stands at ₹1,359 Crore, growth of 25%
• Profit before tax (PBT) at ₹1,350 crore, growth of 18%
• Net Profit After Tax (PAT)– ₹1,016 Crore, growth of 18%

Hero MotoCorp Q4 Results Live Update at 3:43 pm: FY24 business highlights

Product strategy

• Debut of the Mavrick 440 in the upper-premium segment
• First motorcycle with Harley-Davidson – HarleyDavidson X440
• Iconic Karizma in its all-new avatar – the Karizma XMR
• Invigorated the 125cc segment with the launch of Hero Xtreme 125R
• New Xtreme 160R 4V
• Highest-ever festive retail sales, clocking more than 14 lakh (1.4 million) units during the 32-day festive period
• Expansion of Premia outlets and Hero 2.0 stores

Electric mobility

• Expanded presence of VIDA to over 100 cities
• Set-up country’s largest Charging Infrastructure, along with Ather Energy, with 2000 charging points across 100 cities
• Unveiled world’s first class-convertible vehicle - Surge S32

Leadership appointment

• Appointed Vivek Anand as Chief Financial Officer
• Appointed Rachna Kumar as Chief Human Resources Officer

Global business

• Appointed CG Motors as distributor in Nepal and established an assembling facility
• Appointed Motorsport SA as its distributor in Costa Rica

CSR initiatives

• Gurugram manufacturing facility received the prestigious CII National Award for Excellence in Water Management under ‘Within the Fence’ category
• Partnered with the Navy Welfare and Wellness Association (NWWA) to support their community development initiatives

Sports initiatives

• Hero MotoSports Team Rally Secured second place at the Dakar Rally 2024
• Aaron Marè secured a spectacular victory for Hero MotoSports marking the first triumph at a World Championship race
• Company hosts the Hero World Challenge, Hero Dubai Desert Classic, Hero Indian Open and Hero Women’s Indian Open

Hero MotoCorp Q4 Results Live Update at 3:35 pm: Shares of the automobile company closed 2.4% higher at ₹4,588 apiece after the company announced robust Q4 FY24 results.

Hero MotoCorp Q4 Results Live Update at 3:24 pm: What Hero MotoCorp did in FY24

During the year, Hero MotoCorp made a huge impression in the premium motorcycle segment by launching as many as six new products – Xtreme 125R, Xtreme 200S, Xtreme 160R 4V, Harley-Davidson X440, Karizma XMR and the Mavrick 440. Additionally, with multiple launches in other categories, it created an exciting portfolio of motorcycles and scooters for the customers. The company also upgraded its retail network with new-age Premia outlets and the launch of over 400 Hero 2.0 stores. In keeping with its aggressive product strategy, the company also unveiled its exciting future roadmap at the EICMA Motor Show in Milan and at its own bi-annual event Hero World. The company showcased the world's first class-convertible vehicle - Surge S32, path-breaking EV concepts - Lynx and Acro – flex-fuel options for popular motorcycle models and its upcoming range of scooters - Xoom (125 & 160), new VIDA V1 and V1 Coupe.

The company expanded its emerging mobility brand, VIDA, Powered by Hero, to over 100 cities in the country and along with Ather Energy has also expanded the charging network to over 2000 charging points in over 100 cities. Hero MotoCorp bolstered some of its key international markets such as Nepal, Costa Rica, by appointing new distributor partners.

In a historic achievement for Indian manufacturing and sports, Hero MotoSports Team Rally, the rally-racing team of Hero MotoCorp, clinched the second position at the famed Dakar Rally 2024. This is the first time an Indian team has made it to the podium of Dakar.

Hero MotoCorp Q4 Results Live Update at 3:19 pm: Hero MotoCorp CEO on Q4 results

Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said, “The financial year 2024 has been a remarkable period for Hero MotoCorp. During the year, our focus on product launches, network upgrade and customer satisfaction drove us to new heights. From the highest number of product launches, to the expansion of new format retail outlets and upgrade at super speed, to a digital‐first approach in premium, we set the building blocks in place for accelerated growth in future. Our fiscal prudence and strategic actions ensured that our financial performance has been robust, resulting in highest ever annual revenue and Profits."

He added, "Moving forward, we expect the macro‐economic factors to aid the industry’s growth. With commodity prices remaining stable, expectations of normal monsoons, and government spending expected to increase, we see multiple tailwinds for the sector over the upcoming quarters. We will be driving market share gains on the back of our launches in premium and 125 cc segment done in FY 24. Further, we are going to boost scooter portfolio by launching Xoom 125 cc and Xoom 160 cc in first half of the fiscal. Coming year willsee ustaking big strides in EV, through product launches in mid and affordable segment. Overall, we see a very positive outlook for upcoming years".

Hero MotoCorp Q4 Results Live Update at 3:16 pm: Consolidated revenue for the quarter stood at ₹9,617 crore, a growth of 14% over previous year and PAT at ₹943 crore, a growth of 16% over previous year.

Hero MotoCorp Q4 Results Live Update at 3:15 pm: EBIDTA margin for the quarter was at 14.3%, reflecting an improvement of 120 bps YoY basis, driven by product mix, lower commodity costs, higher savings, and judicious price increases.

Hero MotoCorp Q4 Results Live Update at 3:13 pm: The company declared a final dividend of ₹40 per share. This dividend together with interim and special dividend, marking the centennial year of Chairman Emeritus Dr Brijmohan Lall Munjal, of ₹100 per equity share, takes the aggregate total dividend for the year 2023-24 to ₹140 per equity share i.e. 7000%.

Hero MotoCorp Q4 Results Live Update at 3:08 pm: Net Profit for the quarter was at ₹1,016 crore, reflecting a growth of 18% over ₹859 crore reported in previous year.

Hero MotoCorp Q4 Results Live Update at 3:08 pm: Hero MotoCorp reported a standalone revenue from operations of ₹9,519 crore in Q4 FY24, up 14.5%, from ₹8306.7 crore in the same period last year.

Hero MotoCorp Q4 Results Live Update at 14:33 pm: According to CNBC-TV18 poll, the net profit of the automobile is expected to be around ₹1,066 crore in Q4 FY24. The company had reported a net profit of ₹859 crore in Q4 FY23. The revenue is also forecasted to increase to ₹9,417 crore in quarter ended on March 31, 2024 from ₹8,306 crore in the same period last year.

Hero MotoCorp Q4 Results Live Update at 14:08 pm: Motorcycles and scooters

• Splendor+
• Splendor+ XTEC
• HF Deluxe
• HF 100
• Glamour
• Passion+
• Super Splendor XTEC
• Glamour XTEC
• Passion XTEC
• Super Splendor
• Xtreme 160R 4V
• Xpulse 200 4V
• Xtreme 125R
• Xtreme 200S 4V
• Xpulse 200T 4V
• Xtreme 160R
• Destini Prime
• Xoom
• Pleasure+ XTEC
• Destini 125 XTEC

Hero MotoCorp Q4 Results Live Update at 13:28 pm: Trading stats

• Share price: ₹4,552 (+1.6%)
• Open: ₹4,492
• High: ₹4,554
• Low: ₹4,414
• Total m-cap: ₹91,007 crore
• Free float m-cap: ₹58,959 crore

Hero MotoCorp Q4 Results Live Update at 12:43 pm: Shares of the automobile were trading 0.8% higher at ₹4,513 on the NSE.

Hero MotoCorp Q4 Results Live Update at 12:01 pm: Top management

Niranjan Gupta- Chief Executive Officer Sanjay Bhan- Chief Business Officer - Global Business Unit Mike Clarke- Chief Operating Officer Reema Jain- Chief Information and Digital Officer Bharatendu Kabi- Head of Corporate Communication and CSR Ram Kuppuswamy- Chief Procurement and Supply Chain Officer Ranjivjit Singh- Chief Business Officer, India Business Unit Swadesh Srivastava- Chief Business Officer, Emerging Mobility Business Unit Rakesh Vasisht- Head of Corporate Services and Executive Sponsor, Scooter Business Vivek Anand- Chief Financial Officer Rachna Kumar- Chief Human Resources Officer

Hero MotoCorp Q4 Results Live Update at 11:30 am: Facts

• Number one two-wheeler manufacturer in the world (Number one in unit volumes sold by a single entity in a calendar year)
• Presence in more than 47 countries
• More than 115 million customers

Hero MotoCorp Q4 Results Live Update at 10:41 am: Trading stats

• Share price: ₹4,446 (-0.6%)
• Open: ₹4,492
• High: ₹4,492.6
• Low: ₹4,414
• Total m-cap: ₹88,826 crore
• Free float m-cap: ₹57,784 crore

Hero MotoCorp Q4 Results Live Update at 10:14 am: Board of Directors

• Dr Pawan Munjal- Executive Chairman And Whole-Time Director
• Air Chief Marshal B.S. Dhanoa (Retd.)- Non-Executive & Independent Director
• Vikram Kasbekar- Executive Director
• Camille Tang- Non-Executive & Independent Director
• Vasudha Dinodia- Non-Executive Director
• Pradeep Dinodia- Non-Executive Director
• Tina Trikha- Non-Executive & Independent Director
• Prof Jagmohan Singh Raju- Non-Executive & Independent Director
• Rajnish Kumar- Non-Executive & Independent Director
• Suman Kant Munjal- Non-Executive Director

Hero MotoCorp Q4 Results Live Update at 9:35 am: Shares of the automobile maker were trading 0.5% lower at ₹4,453 on Wednesday ahead of Q4 FY24 results.

Hero MotoCorp Q4 Results LIVE: Automobile company Hero MotoCorp will declare its financial results for the fourth quarter of fiscal year 2023-24 on Wednesday, May 8.

Hero MotoCorp is one of the world's largest manufacturer of motorcycles and scooters based in India. Formerly called Hero Honda Motors., the automobile firm was established in 1984 as a joint venture between Hero Cycles of India and Honda of Japan. However, in 2011, Honda sold its stake, leading to the formation of Hero MotoCorp.

Other companies that will declare their Q4 results today include L&T, Tata Power, JG Chemicals, TVS Motor, Bharat Forge, Godrej Agrovet, ESAF Small Finance Bank, HT Media, Sula Vineyards, Piramal Enterprises and Sterlite Technologies.