Hero MotoCorp Ltd., the world’s largest manufacturer of motorcycles and scooters, sold 380,476 units in January 2022. The third wave of the pandemic, subsequent staggered state-wise lockdowns, and restricted movement impacted the overall sales volume of the month.
Commenting on the Union Budget 2022, Dr. Pawan Munjal, Chairman & CEO, Hero MotoCorp, said, “One of the landmark announcements of this Budget is the battery swapping policy, which has the potential to be a game-changer in catalyzing the migration to EVs. While the scale of its impact will be clear upon the formation of the policy, the industry is committed to sharing its insights and expertise with the Government to make this a reality. I am personally delighted with this move by the Government as it resonates with our Company’s and my own commitment to the cause of Sustainability.
He added, “The renewed focus on sustainability through natural and organic farming, PLI on green energy, and the creation of funds will further India’s efforts to meet climate-change goals for a sustainable future. The continued focus on infrastructure will not only improve the quality of lives and generate jobs but will also help Indian industry become globally competitive.”
The enhanced spending plan on capital expenditure and increased allocation to the Rural Infrastructure Development Fund and a major push to infrastructure developments under Gati-Shakti is likely to aid a credible economic recovery and employment generation. The increased economic activity and growth in employment will fuel demand for automobiles including the two-wheelers.
Hero MotoCorp has also accelerated its global expansion plans by further strengthening its presence in Central America. During the month, the company expanded its operations and commenced retail sales at a newly opened flagship store in San Salvador the capital city
of El Salvador.
As part of its digital endeavors to provide an enhanced and contactless customer experience, Hero MotoCorp has announced the commencement of online bookings of its latest motorcycle XPulse 200 4-Valve. The Company has started bookings for the second batch
after the first lot was completely sold out.
Meanwhile, in the month of January, the Hero Global Centre for Innovation & Technology (CIT) became the first research and development facility to receive GreenCo Platinum rating under the R&D category, as well as the only unit to receive a green rating under the CII –
Rajasthan State Pollution Control Board (RSPCB) scheme. The Indian Green Building Council (IGBC) has already awarded the centre a Platinum certification, with a score of 91 points, making it the highest-rated facility in India’s manufacturing sector.
Hero MotoCorp also reported its financial performance for the third quarter (October-December 2021) of the FY’ 2022. The company’s Revenue from Operations for the quarter stood at Rs. 7,883 Crore. EBITDA margin for the third quarter was at 12.2%. Profit After Tax (PAT) for the quarter was at Rs. 686 Crore, and YTD PAT at Rs.1,846 Crore. The Consolidated PAT for the quarter was Rs. 704 Crore (YTD Rs. 1708 Crore). The company declared an interim dividend of Rs. 60 per share amounting to 3000%.
The company continues to progress on the launch of its Electric Vehicle, which will be produced at the company’s manufacturing facility at Chittoor in the southern state of Andhra Pradesh. Through its investments and partnerships like Ather Energy and Gogoro Inc., Hero MotoCorp is also working towards building the entire EV ecosystem – from product to technology, to sales service, customer care, operations, and innovation. Sustainability and Emerging Mobility is a priority area for Hero MotoCorp and the company continues to
enhance its efforts in this direction.
