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Revenue
₹9,533 Cr
verified against source
Revenue YoY
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reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Hero MotoCorp reported Q2 FY24 revenue of INR 9,445 crore and EBITDA margin of 14.1%, up 260 bps YoY, driven by commodity cost recovery and operating leverage. PAT grew 47% YoY to INR 1,054 crore. The premium journey is gaining traction with Harley-Davidson X440 and Karizma bookings strong; production ramp-up to 10,000 units/month for these models is underway. EV volumes are scaling, with weekly production exceeding 1,000 units, and the company is expanding to 100+ cities. Festive season retail grew 15% in the first 17 days, led by rural recovery and new launches. Management expects continued margin stability and plans to invest in growth priorities. Key risk: global geopolitical uncertainties could impact export recovery and commodity costs.
Colored figures show movement against the previous available record.
Guidance to track
- Hero plans to scale premium stores to over 100 in the next six months, from a recent launch.
- The company aims to have 500 Hero 2.0 stores within six months, up from 200+ currently.
- Management guided to ramp up combined production of Harley-Davidson X440 and Karizma to around 10,000 units per month in stage one.
- Hero plans to introduce mid and more affordable EV price points in fiscal year 2025.
Risks flagged
- Management acknowledged geopolitical tensions could affect export recovery, though domestic demand remains resilient.
- EV business is not yet profitable at gross profit level; BOM cost reduction is a work in progress and may take time to achieve scale.
- Hero is losing share in the 125cc scooter segment due to product transitions; new models may take time to gain traction.
Key quotes
- We delivered a revenue of INR 9,445 crores, with our margins of 14.1%, which was up 260 basis points year-on-year basis.
- Our win and premium journey has started off very well.
- It's only a question of time when we actually put out the scale.
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