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Automobiles manufacturing company Hero MotoCorp announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Volume – 13.92 lakh units of motorcycles and scooters sold in Q4FY24 (Vs 12.70 lakh units Q4FY23)
- Revenue from operations – Rs.9,519 crore, a growth of 15% over the corresponding quarter in the previous fiscal
- Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for Q4FY24 stands at Rs 1,359 crore, growth of 25%
- Profit before tax (PBT) at Rs 1,350 crore, growth of 18%
- Net Profit After Tax (PAT) – Rs.1,016 crore, growth of 18%
FY24 Financial Highlights:
- Volume – 56.21 lakh units of motorcycles and scooters sold in FY24 (Vs 53.29 lakh units FY’23)
- Revenue from operations – Rs 37,456 crore, a growth of 11% over the previous year
- Earnings before Interest, Tax, Depreciation, & Amortization (EBITDA) for FY24 stands at Rs 5,256 crore, growth of 32%
- Profit Before Tax (PBT) before exceptional item at Rs 5,418 crore, growth of 40%
- Net Profit After Tax (PAT) – Rs 3,968 crore, growth of 36%
- The company declared a final dividend of Rs 40/- per share. This dividend together with interim & special dividend, marking the centennial year of Chairman Emeritus Dr Brijmohan Lall Munjal, of Rs 100 per equity share, takes the aggregate total dividend for FY24 to Rs 140 per equity share i.e. 7000%.
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.
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.”
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