Hero MotoCorp Q4 Results: PAT at ₹1016 Crore, up by 18%

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Synopsis:

Hero MotoCorp saw much growth in Q4FY24. Its quarter revenue stood at ₹9519 Crore, up 15% from ₹8306.78 in Q4FY23. The company also declared a dividend of ₹40 per share. Know more here.

5 Key Financial Highlights

Q4FY24 has been one of the best quarters for Hero MotoCorp in FY24. Here are some of the main financial highlights from the Hero MotoCorp Q4 Results:

  • Revenue from Operations for Q4 at ₹9,519 Crore, up 15% from ₹8,307 from Q4FY23 
  • EBITDA margin for Q4 was at 14.3%, reflecting an improvement of 120 bps YoY basis
  • Net Profit for Q4 was at at ₹1,016 Crore, up by 18% from ₹858.93 Crore from Q4FY23
  • Consolidated Revenue for Q4 at ₹9,617 Crore, up 14% from Q4FY23
  • A final Dividend of ₹40 per share was declared by the company keeping the results in mind. 

Explore: Hero Motocorp Share Price

Key Business Updates:

  • In FY24, Hero MotoCorp launched six new premium motorcycles – Xtreme 125R, Xtreme 200S, Xtreme 160R 4V, Harley-Davidson X440, Karizma XMR and the Mavrick 440
  • Hero MotoCorp also upgraded its retail network with new-age Premia outlets
  • The company also launched over 400 Hero 2.0 stores
  • The company expanded its emerging mobility brand, VIDA, Powered by Hero, to over 100 cities in the country
  • The rally-racing team of Hero MotoCorp also won the second position at the famed Dakar Rally 2024. This is the first time an Indian team has made it to Dakar’s podium.  

Additional Read: Quarterly Results

Profitability Analysis:

The fourth quarter of FY24 has proven to be the best quarter for the company this time around. The company has also recorded its highest-ever revenue and profit after tax or PAT for the year this time around. With revenue from operations for Q4 at ₹9,519 Crore, up 15% from ₹8,307 from Q4FY23 and an EBITDA margin for the quarter at 14.3%, the company’s growth has been very obvious this quarter. To add to this, Q4 also saw a Net Profit of ₹1016 Crore, up by 18% from ₹858.93 Crore from Q4FY23 and a consolidated revenue of ₹9617 Crore, up 14% from Q4FY23. Looking at these results, the company also declared a final dividend of ₹40 per share. Hero MotoCorp also expanded its emerging mobility brand, VIDA, Powered by Hero, to over 100 cities in the country and over 400 Hero 2.0 stores.

Additional Read: Voltas Q4 Results

Major Operational Metrics - Standalone Q4 (FY2023-24) Financial Results of Hero MotoCorp (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Revenue From Operations

9519.30

9723.73

8306.78

37455.72

33805.65

Profit before Tax

1349.58

1417.03

1146.66

5258.36

3874.56

Profit After Tax

1016.05

1073.38

858.93

3967.96

2910.58

Total Comprehensive income for the period

1001.08

1070.92

853.84

3945.61

2901.21

Consolidated Q4 (FY2023-24) Financial Results of Hero MotoCorp (in ₹ Crore)

Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Revenue From Operations

9,616.68

9,787.86

8,434.28

37,788.62

34,158.38

Profit Before Tax

1,292.08

1,456.08

1,128.17

5,250.19

3,863.62

Profit After Tax

943.46

1,091.12

810.80

3,742.16

2.799.90

Total Comprehensive income for the period

931.58

1,078.02

805.35

3,709.30

2,765.03

The Future of Hero MotoCorp

With all the numbers that have been declared by the company as a part of their Q4FY24 results, one can make out how well Hero MotoCorp’s growth trajectory is travelling. The company is positive that the macro-economic forces in place will help aid the growth of the industry. The commodity prices are staying stable and with the increase in government spending, Hero MotoCorp sees a profitable future and FY25. Add to this their intention of expanding their scooter portfolio by launching two new models in the first half of FY25 and adding the EV segment to their products as well, and we can see why FY25 might also turn out to be profitable for the company.

Additional ReadUnited Breweries Q4 Results

Conclusion

Having started in 1984 in Daruhera, Hero Honda was a joint venture between Hero Cycles from India and Honda from Japan. The 1980s saw the company launching motorcycles that became popular for their fuel efficiency and affordability. From then till now, the company has gone through its fair share of ups and downs. However, the Q4FY24 results spell out the amazing progress the company has made in this financial year and how it wishes to proceed further this FY25. 

Additional ReadDr. Reddy’s Laboratories Q4 Results

About the Company:

Started as Hero Honda as a collaboration between Hero Cycles and Honda in Japan, in 1984, the company believed in the manufacturing of vehicles that were not only affordable for the public but also fuel efficient. In the year 2001, Hero Honda became India’s largest two-wheeler manufacturing company. All the technology that was used in the bikes of the company between 1984 and 2010 came from Honda, its Japanese counterpart. After Honda’s exit from the joint venture in 2010, the company was renamed Hero MotoCorp on July 29, 2011. Since then, the company has grown tremendously and is positive that will continue to do just that in the years to come.

Results for the Fourth Quarter Ended March 31, 2024

Sources: 

  1. Hero MotoCorp Press Release
  2. Hero MotoCorp Financial Results

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Frequently Asked Questions

What was the revenue that Hero MotoCorp has been able to make in Q4?

Answer Field

Revenue from Operations for Q4 at ₹9,519 Crore

What was the EBITDA margin for Hero MotoCorp in Q4FY24, and how does it reflect the company performance?

Answer Field

The EBITDA margin for Hero MotoCorp in Q4FY24 was 14.3%, reflecting an improvement of 120 basis points (bps) year-on-year (YoY).

How much dividend per share did Hero MotoCorp declare based on its Q4FY24 results?

Answer Field

Hero MotoCorp declared a final dividend of ₹40 per share based on its Q4FY24 results.

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