Hero MotoCorp yesterday, reported its highest-ever revenue for the quarter. The company’s Revenue from Operations for the third quarter (October-December 2020) of the FY’21 stood at Rs. 9,776 Crore (vs Rs. 6,997 Cr. in Q3 FY’20). The company declared an interim dividend of Rs. 65 per share, amounting to 3250 %. In addition, the company has announced a special interim dividend of Rs 100 Crore @ Rs. 5 per equity share, to mark the achievement of historic milestone of achieving 100 Million cumulative productions of two-wheelers, taking the aggregate interim dividend to Rs. 70 per share which is absolutely amazing, should you own some shares.
On January 21, 2021, Hero MotoCorp surpassed the milestone of 100 Million (10 Crores) units in cumulative production.
The 100 millionth motorcycle, the Xtreme 160R, was rolled-out of the Company’s manufacturing facility in Haridwar, in the northern Indian hill state of Uttarakhand. To mark the occasion of the 100 million milestone, Hero MotoCorp introduced six celebration edition models. These include four motorcycles – Splendor+, Xtreme 160R, Passion Pro and Glamour and two scooters – Destini 125 & Maestro Edge 110. These will go on sale from February 2021.
Mr Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said “Our performance in the third-quarter underlines Hero MotoCorp’s operational strength and ability to perform well despite a challenging and volatile environment. The company has been able to drive profitable growth through improvement in market shares, acceleration of Leap-II savings initiatives, continued control on overheads, and cash flow management. We continue to build on our strong portfolio with the launch of special edition variants to commemorate the milestone of 100 million units in cumulative production. Going forward, we expect input costs to remain under pressure due to the rising prices of commodities and fuel. The price increase on our range of products that we undertook from January 1 will partially offset these cost pressures. We will continue to focus on driving cost savings, and take judicious price increases if & when necessary.
Hero also tied-up with Harley Davidson in the previous sector to develop, sell and service Harley Davidson motorcycles, following Harley’s surprise visit earlier.