New Delhi, November 12, 2021
REPORTS REVENUE OF RS. 8,453 CRORE IN Q2’FY22; PAT OF RS.794 CRORE & EBIDTA AT RS.1,066 CRORE ; IMPROVES MARGINS SEQUENTIALLY FROM 9.4% TO 12.6%
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today reported its financial performance for the second quarter (July-September 2021) of the FY’ 2022.
Riding on a volume of 14.38 lakh units sold during the quarter, the company’s Revenue from Operations for the quarter stood at Rs.8,453 Crore. EBIDTA margin for the second quarter was at 12.6% and Net profit for the quarter was Rs.794 Crore. Consolidated Revenue for Q2 FY 22 stood at Rs. 8,539 Crore and Net Profit at Rs.748 Crore.
In keeping with its Vision – “Be the Future of Mobility” – Hero MotoCorp is committed to bringing sustainable mobility solutions to its customers and is accelerating its focus on producing electric vehicles (EVs) as an integral part of its product portfolio.
The company’s Electric Vehicle (EV) project is in the advanced stages and the product will be manufactured at its plant in Chittoor, in the southern Indian state of Andhra Pradesh. The plant – aptly called Garden Factory for its eco-friendly and sustainable manufacturing practices – will provide an integrated ecosystem for Battery Pack Manufacturing and Testing, Vehicle Assembly and Vehicle End of Line Testing (EOL).
Mr. Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said “Hero MotoCorp expects a build‐up in demand over the coming quarters as the economy continues to show recovery and improvement. Positive economic signs, encouraging farm activities and increased need for personal mobility is likely to restart the momentum in the two‐wheeler industry and we expect positive sentiments both in the rural and semi‐urban markets.
Commodity prices, which have been impacting the industry margins so far, are showing some signs of softening as we move from here. Through accelerated Leap‐II savings program, overheads management, and judicious price increases, we have been able to improve our margins sequentially and expect further recovery moving forward.
In keeping with its strategic vision ‐ Be The Future of Mobility’, Hero MotoCorp is steadily progressing on the path to carbon neutrality and sustainability and is investing in this transformation. The company is taking a comprehensive approach, ranging from research and development to production of green vehicles, which also includes forging strategic collaborations and partnerships”, he added.
Highlights (July‐September 2021)
Product Launches • Launched Glamour ‘Xtec’ motorcycle
• Launched an advanced, ‘connected’, and feature-rich new Maestro Edge 125
Global Operations • Hero MotoCorp started retail sales in the key market of Mexico
Global Milestones • During the quarter, Hero MotoCorp achieved two consecutive recognitions from the Guinness World Record for creating the ‘Largest Motorcycle Logo’ in August 2021 and for creating the ‘Largest Online Photo Album of People Planting Plants’ in September 2021
Sales Milestone • Continuing its 10th anniversary celebrations, Hero MotoCorp sold
a record more than one lakh units of motorcycles and scooters in retail sales in a single day on August 9th
Harley‐Davidson • Hero MotoCorp expanded the touch points and service centers for Harley-Davidson customers in India with 14 full-fledged dealerships and seven authorized service centers across the country.
HERO MOTOCORP LIMITED
Stofemer,t of Unoudited Standalone Flnonclol Results for the gunner and half year ended September 30 2021
Foce value of the share (In Rupees) 2.00 2.00 2.00 2.00 2.00 2.00
’odl Reserves 1 5, 158.47
Earning per equity share on profit o0er fox (face value Rs. 2/- eoch1 fln RuneesJ
Diluted 3975 1829 47 73 5604 50 80 148 37
Unoudifed Standalone Statement of Assets and Liabilities
(Rupees in crores)
Unoudited Standalone Stotement of Cash Flows for the holf year ended September 30, 2021
(Rupees in crores)