Hero MotoCorp announces upward revision in ex-showroom prices of select motorcycles, scooters, stock trades in green

The firm said that the price revision will be up to ₹1,500 and the exact quantum of increase will vary by specific model and market. Hero MotoCorp said the revision has been necessitated to partially offset the impact of higher input costs.

Earlier this month, the firm’s board of directors approved the purchase of additional shares of Ather Energy Private, an associate company, from an existing shareholder for a cash consideration of ₹124 crore.

Ather Energy is engaged in the business of designing, manufacturing, selling, and servicing electric two-wheelers. The firm also has its charging infrastructure and is engaged in storage, distribution and management of electric power and other ancillary services. The company’s turnover for the fiscal year 2024 stood at ₹1,753.80 crore.

Hero MotoCorp recently announced its sales for May 2024 declined 4.11% year-on-year (YoY) to 4,98,123 units. During the month, the sales of scooters fell 10.62% YoY to 26,937 units while the sales of motorcycles reduced by 3.7% to 4,71,186 units. Domestic sales stood at 4,79,450 units while exports came in at 18,673 units in May.

The company’s total sales on a year-to-date (YTD) basis for the current financial year have grown by 12.68% YoY to 10,31,708 units. In the same period, sales in the motorcycles segment saw a growth of 12.7% YoY to 9,67,728 units while sales in the scooters segment rose 11.43% YoY to 63,980 units.

On a YTD basis, exports jumped 84.75% YoY to 38,962 units while domestic sales rose by 11% YoY to 9,92,746 units.

Shares of the company have gained over 32% since the beginning of the year. The stock has risen over 91% in the last one year.