New Delhi January 31,2014: REPORTS PAT OF RS. 525 CRORE & HIGHEST-EVER QUARTERLY TURNOVER OF RS 6877 CRORE FOR OCT-DEC, FY’14
Financial Results for Q3, FY’14
· Total sales for the quarter stands at 16,80,940 units
· Total turnover (Net sales and other operating income) Rs. 6877 Crore
· Profit Before Tax (PBT) stands at Rs. 717 crore
· Net Profit After Tax (PAT) stands at Rs. 525 crore
· EBIDTA margin for the quarter at 13.06 per cent
Hero MotoCorp Ltd. (HMCL), the world’s largest two-wheeler manufacturer, today reported results for the third quarter (October-December) of this financial year (FY 2013-14).
With sales of 16,80,940 two-wheelers in Q3 FY’14, the company registered a total turnover (Net Sales & other Operating Income) of Rs 6876.78 crore and net Profit After Tax (PAT) of Rs 524.66 crore. HMCL had reported sales of 15,73,135 two-wheelers, total turnover of Rs. 6187.62 and PAT of Rs 487.89 crore in the corresponding quarter in the previous fiscal (2012-13). EBIDTA margin (Earnings Before Interest, Depreciation & Amortaization) for the third quarter (October-December) of this financial year (FY 2013-14) stood at 13.06 per cent.
The cumulative sales for the first three quarters of the year (April-December’13) stand at 46,56,498 two-wheelers. The company registered a total turnover (Net Sales & other Operating Income) of Rs 18762.51 crore and net PAT of Rs 1554.65 crore in this period. HMCL had reported sales of 45,48,232 two wheelers, total turnover of Rs. 17622.36 crore and PAT of Rs 1543.93 crore in the corresponding period in the previous fiscal (2012-13).
Delivering on its commitment to bring revolutionary products in the two-wheeler market, Hero Moto Corp Ltd (HMCL), the world’s largest two-wheeler manufacturer, on Wednesday unveiled a slew of game-changing two-wheelers across-the-spectrum. The next-generation range of two-wheelers includes the new 250-cc sports bike ‘HX250R’, the break-through Liquid-cooled Turbo Charged Diesel Concept Bike ‘RNT’; India’s first series hybrid scooter ‘LEAP’ and 110cc scooter ‘Dash’.
Mr. Pawan Munjal, Managing Director & Chief Executive Officer, Hero MotoCorp Ltd. said “We have been able to post solid sales in the quarter in a relatively dull market, and our PAT and total turnover figures are up from the corresponding quarter last year. However, our EBIDTA has been affected due to partial recovery of rising metal costs and currency fluctuation. We continue to sustain our market-leadership quarter after quarter with a strong focus on performance and profitability, and going forward, we plan to further strengthen our leadership and demonstrate our prowess in innovation and technology.
While the industry overall is under constant pressure due to a number of reasons, we are confident of and committed to deliver value to our stakeholders. For this, we will continue to challenge the existing benchmarks and innovate constantly to pave way for improved performance.
We are excited about the upcoming Auto Expo where we will be showcasing our vision for the future of two-wheelers. Only yesterday, we gave you a glimpse of the range of products that we are developing. But there’s more to come – several more products, including new concepts which you will get to see at the Delhi Motor Show in February.”
The Q3 of FY’14 marked several milestones in Hero MotoCorp’s journey towards next-generation technological excellence.
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Demonstrated technological excellence and innovation (Unveiled 15 new offerings’) |
– Showcased next-gen features to be introduced in its new product line-up: o i3S Technology (Idle Stop & Start System) to debut on all-new Splendor iSmart o Integrated Braking System (IBS) to be introduced in the all-new Pleasure o Electronic Immobiliser to debut on the new 150cc Xtreme – Apart from these offerings, HMCL also showcased a series of radical refreshes and variants of existing platforms (Karizma& ZMR,HF Dawn, HF Deluxe, HF Deluxe Eco, Splendor Pro, Super Splendor, Passion Pro, Glamour and Glamour F1) – These products are being launched in a phased manner in the Indian market |
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Global Foray |
– The company has started despatching vehicles to other new markets such as Tanzania, Uganda, Burundi, Egypt, Ecuador and Bangladesh. – In Tanzania and Uganda, HMCL will have local assemblies – HMCL plans to have presence in 20 new markets by March’14 with at least four assembly operations globally – HMCL will finalise a joint venture agreement for Colombia within the first three months of 2014 – The company is preparing to set up a manufacturing unit in Colombia to cater to the Latin American markets – In the first quarter of 2014, HMCL will enter Ethiopia, Turkey and Nicaragua. – |
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New Strategic Partnership |
– Formed strategic joint venture with Magneti Marelli to develop and manufacture new generation fuelling systems
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