Hero Moto Q4FY23 PAT up 31.7% at Rs805 crore on 31% growth in EBITDA
Hero Motocorp reported 12.5% growth in total revenues for the March 2023 quarter on consolidated basis at Rs8,434cr. On a sequential basis, the revenues were up 3.9%. In terms of volumes sold, Hero Moto sold 12.7 lakh units in Q4FY23, higher by 6.8% yoy. Full year volumes stood at 53.29 lakh units, higher on yoy basis by 7.8%. Hero Moto continues to maintain the distinction of being the largest two-wheeler manufacturer in India.
For Q4FY23, the EBITDA was 31% higher at Rs1,083 crore on better cost and inventory management. For the full year FY23, the EBITDA was higher by 18% at Rs3,986 crore. EBITDA margins for the quarter was up 190 bps at 13% in Q4FY23. Even the net margins at 9.55% on consolidated basis is better than the year ago quarter and the sequential quarter.
Financial highlights for Mar-23 compared yoy and sequentially
| Hero Moto | |||||
Rs in Crore | Mar-23 | Mar-22 | YOY | Dec-22 | QOQ |
| Total Income (Rs cr) | ₹ 8,434 | ₹ 7,497 | 12.51% | ₹ 8,118 | 3.89% |
| Operating Profit (Rs cr) | ₹ 944 | ₹ 688 | 37.36% | ₹ 770 | 22.69% |
| Net Profit (Rs cr) | ₹ 805 | ₹ 611 | 31.70% | ₹ 726 | 10.89% |
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| Diluted EPS (Rs) | ₹ 40.25 | ₹ 30.59 |
| ₹ 36.29 |
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| OPM | 11.20% | 9.17% |
| 9.48% |
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| Net Margins | 9.55% | 8.15% |
| 8.94% |
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The growth in margins was achieve through a mix of pricing and savings in costs. The company declared final dividend of Rs35 per share, taking the total dividend per share for the full year to Rs100 per share. The year also saw Hero Moto investing aggressively into alternate energy modes of transport.