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HEROMOTOCO Diversified 07 Feb 2025

Hero MotoCorp Limited — Q3 FY25

Hero MotoCorp reported Q3 FY25 revenue of ₹10,211 crore (+5% YoY), EBITDA of ₹1,476 crore (+8% YoY), and PAT of ₹1,203 crore (+12% YoY).

bullish high
Compare with...
Revenue ₹10,260 Cr +5%
EBITDA ₹1,476 Cr +8%
PAT ₹1,108 Cr +12%
EBITDA Margin 14% +50bps
Duration
Read Time 1 min read

✓ Verified against BSE filing

Risk Intelligence

Material risks this quarter

Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.

Risks

R

EV market share remains low

VIDA's national EV market share is ~5%, partly due to absence in the sub-₹1 lakh segment (60% of market) and limited geographic presence.

medium · analyst_question
R

Hero FinCorp credit cost increase

Hero FinCorp's credit cost rose ~150 bps to ~6% due to lower collection efficiency, impacting profitability.

medium · management_commentary
R

Transition from V1 to V2 disrupted volumes

EV dispatches fell sharply during the V1-to-V2 transition, though management expects a recovery in February-March.

low · data_observation
R

Structural shift away from motorcycles

Scooters and EVs are gaining share, potentially pressuring Hero's core motorcycle business; management downplays this risk.

medium · analyst_question