Dividend Rs 140 per share: The PAT stood at Rs 943 crore, reflecting a 16 per cent increase over the previous year!
The stock has experienced significant buying activity, yielding returns of more than 83 per cent in the last one year.
Today, the shares of Hero MotoCorp Limited rallied 2.98 per cent. Furthermore, the scrip witnessed a spurt in volume by more than 6.79 times. The company's current market capitalization standing at Rs 95,205.73 crore.
Stock performance:
On Thursday, the stock opened at Rs 4631.90, with the previous closing being Rs 4624.35. The 52-week high and low are Rs 4,979.95 and Rs 2,572.15, respectively as per BSE.
Recent Development - Q4FY24 Highlights:
In the latest financial quarter, the company's Revenue from Operations reached Rs 9,519 crore, marking a 15 per cent growth compared to the previous period's Rs 8,307 crore. The EBIDTA margin for the quarter improved by 120 basis points year-on-year to 14.3 per cent, attributed to a favorable product mix, lower commodity costs, increased savings, and strategic price adjustments.
Net Profit for the quarter rose to Rs 1,016 core, reflecting an 18 per cent increase from the previous year's Rs 859 crore. On a consolidated basis, the company recorded a Revenue of Rs 9,617 crore, representing a 14 per cent growth over the previous year. The Profit After Tax (PAT) stood at Rs 943 crore, reflecting a 16 per cent increase over the previous year.
Additionally, the company announced a final dividend of Rs 40 per share, bringing the total dividend for the fiscal year 2023-24 to Rs 140 per share, which includes interim and special dividends.
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About the Company:
Originally known as "Hero Honda," Hero MotoCorp is among India's pioneering motorcycle manufacturers. Established in 1984, it began as a technological partnership with Honda, Japan. Prior to this collaboration, Hero was renowned for selling bicycles under the brand name Hero Cycles. In 2011, the Honda group divested its 26% stake in the company to the Munjals, who are the promoters, thus concluding the joint venture. Following the cessation of this collaboration, the company's name was changed to Hero MotoCorp.
Business Development:
The product-wise breakdown reveals that 83.14 per cent of the company's business is attributed to 2-wheelers, while 14.34 per cent comes from spare parts and accessories. The remaining 2.52 per cent falls under the category of others.
Similarly, the location-wise breakdown indicates that the majority of the company's operations, accounting for 95.64 per cent, are based in India, with the remaining 4.36 per cent spread across the rest of the world.
Furthermore, the stock has experienced significant buying activity, yielding returns of more than 83 per cent in the last one year.
Disclaimer: The article is for informational purposes only and not investment advice.