Hero MotoCorp Q4 Results FY2023, Profit at Rs. 859.93 crores

On 4th May 2023, Hero MotoCorp announced its quarterly results for the last quarter of FY2023.

Hero MotoCorp Financial Highlights:

- For Q4FY23, Revenue from operations stood at Rs.8,307 Crore, a growth of 12% over the corresponding quarter in the previous fiscal. For FY2023, Revenue from operations stood at Rs.33,806 Crore, a growth of 16% over the previous year
- Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for Q4 FY’23 stands at Rs. 1,083 Crore, a growth of 31% YoY. Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for FY’23 stands at Rs. 3,986 Crore, a growth of 18% YoY
- Net Profit After Tax (PAT) for Q4FY23 was reported at Rs.859 Crore, growth of 37% YoY. Net Profit After Tax (PAT) for FY23 stood at Rs.2,911 Crore, a growth of 18%  YoY

Hero MotoCorp Business Highlights:

- Redefining the scooter category and charting the next phase of its tech-enabled journey in the scooter segment, Hero MotoCorp, launched the new 110cc scooter – Xoom.  
- Hero MotoCorp launched technologically-advanced XTEC variants of Iconic Splendor, Passion followed by Super Splendor in FY’23.
- The company also created excitement in the market by launching the 4-Valve edition of its popular tourer XPulse 200T, and the Rally Edition of XPulse 200 4V.
- Hero Motocorp launched Canvas Black Edition for Super Splendor and Stealth 2.0 Edition for Xtreme 160R
- Hero MotoCorp partnering with Zero Motorcycles, California (USA) - based manufacturer of electric motorcycles and powertrains, to collaborate on Premium Electric Motorcycles.
- Strengthened its commitment and operations in Turkiye with the introduction of Euro-5 compliant variants of its three globally popular products – The Xpulse 200 4V motorcycle and Dash 110 & Dash 125 scooters
- Strengthened its commitment in the Philippines in partnership with Terrafirma Motor Corporations
- Associated with the Automotive Component Manufacturers Association of India (ACMA), the apex body of the Indian auto component industry, for one-of-its-kind EV Technology Expo in Jaipur 
- Collaborated with Hindustan Petroleum Corporation Limited (HPCL) to establish charging infrastructure for Electric Vehicles (EVs) in the country
- The company declared a final dividend of Rs. 35/- per share taking the total dividend for the year to Rs 100/- i.e 5000% on the face value of Rs 2 per share.

Commenting on the results, Mr. Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said, “The company has been able to drive margin expansion and profitable growth this quarter through a judicious combination of pricing, savings, and mix. In line with our policy, we have declared an overall dividend for the year at Rs 35 / share, which continues to be in the top quartile in terms of the payout ratio. In the coming fiscal year, we have lined up slew of product launches in different segments with an aim to strengthen our premium portfolio as well as premiumization of existing models, which will help us deliver improvement in market share. We are accelerating our EV rollout, with a plan to be in 100 cities within this calendar year. Apart from exclusive Vida outlets in certain cities, we will be using our existing distribution system across cities to ensure wider reach. The recent price revision now makes Vida accessible to more customers, and we expect this will increase the EV transition in the scooter category. Economic activity in India continues to build momentum with key indicators moving in a positive direction. We do expect 2-wheeler industry revenue growth to be double-digit in the coming year”.