Hero Motocorp had best ever Turnover

Riding on its highest-ever quarterly volume sales of 15,89,286 units, Hero MotoCorp Ltd (HMCL), the world’s largest two-wheeler manufacturer, today reported its best-ever turnover (Net Sales & Other Operating income) of Rs. 6031.45 crores for the third quarter (October-December 2011) of FY’12.

·    PBT STANDS AT RS 724  CRORE & PAT STANDS AT Rs 613 CRORE

·    EBIDTA MARGIN FOR THE QUARTER AT 15.6  PER CENT

·    VOLUME SALES DURING THE QUARTER AT 15,89,286 UNITS, GROWTH OF 11.3%

 
This is a growth of 16.85 per cent over the corresponding period in the last fiscal (October-December 2010) of FY’ 11. The company’s profit before tax for the period stood at Rs 723.79 crore, while profit after tax (PAT) for the period stood at Rs 613.03 crores. The company has recorded an EBIDTA margin of 15.63 per cent.
 
Hero MotoCorp registered its highest ever quarterly sales of 15,89,286 two-wheelers in the third quarter this fiscal, fuelled by consistent half million-plus unit sales in all the three months of the quarter - 512,238 units in October, 536,772 units in November and 540,276 units in December.
 
Dr. Brijmohan Lall, Chairman, Hero MotoCorp Ltd. said, “Last quarter has been particularly satisfying as we have set new benchmarks of excellence. This should help us realize our larger vision of building a truly global company with a strong Indian foundation. We are optimistic about the New Year and will continue to provide the best of technology and products to our customers.”
           
Mr. Pawan Munjal, Managing Director & Chief Executive Officer, Hero MotoCorp Ltd., said “It is heartening to see that our sales have been in excess of half a million two-wheelers in every month of the quarter, thus further strengthening our leadership. We are well in line to meet our guidance for over six million unit sales in the fiscal 2012.
 
“In FY’12 the industry has been facing constraints of rising fuel prices, high interest rates and a sharp rupee depreciation, leading to increased input costs impacting the margin. In these challenging times, while the domestic industry is witnessing a growth of 15 per cent, we at Hero MotoCorp are growing faster than that. We have also seen a softening in commodity prices of late, which has, however, been off-set by the rupee depreciation. Therefore, while we expect market demand for two-wheelers to remain stable, a lot will depend on the overall economic and political scenario going forward.”
 
Hero MotoCorp recently demonstrated its intent and vision for the future, with the unveiling of a Hybrid Concept Scooter – “Leap” here at the recently-concluded Auto Expo. The company, which is fast enhancing its research and development (R&D) capabilities, is currently developing this hybrid technology to bring environment-friendly two-wheelers into the country. The company has also been in discussion with international design houses and technology suppliers for collaboration to develop new models.
 
Hero MotoCorp also outlined its strategic plans for the year, unveiling a range of its new generation of two-wheelers – an all-new 110cc Passion X Pro, a 110cc masculine scooter, Maestro, and a thrilling new 125cc bike, Ignitor - to be launched in the Indian market over the next few months.
 
Hero MotoCorp Impulse – the first bike to be launched by the company under its new brand name – has opened up a new segment in the Indian two-wheeler market – the on-road-off-road category. The bike has immediately caught the imagination of customers and experts alike. Impulse won the overall “Bike of the Year” and the “Bike of the Year (up to 150cc)” award at the ET Zigwheels Car & Bike of the Year Awards 2011, while it was also adjudged the “Bike of the Year (up to 160cc)” at the NDTV Car & Bike Awards 2011.