Hero MotoCorp (HEROMOTOCO) Q3 24/25 earnings summary

Executive summary

• Achieved highest-ever quarterly and nine-month revenue and profits, with Q3 revenue at INR 10,211 crore, up 5% year-over-year, and PAT at INR 1,203 crore, up 12% year-over-year.

• Nine-month revenue reached INR 30,818 crore and net profit INR 3,529 crore, up 10% and 20% year-over-year, respectively.

• Interim dividend of INR 100 per share declared, with record date set for February 12, 2025.

• Board approved investment of up to INR 5.15 crore in a solar power project under the Group Captive mechanism.

• Leadership transition announced: Vikram Kasbekar to take over as CEO from May 1.

Financial highlights

• Q3 EBITDA at INR 1,476 crore, up 8% year-over-year; EBITDA margin for ICE business at 16%.

• Overall EBITDA margin improved to 14.5% year-over-year, after accounting for INR 137 crore EV investments.

• Highest-ever quarterly revenue from parts, accessories, and merchandise at INR 1,555 crore, up 9% year-over-year.

• Consolidated Q3 revenue was INR 10,260 crore and consolidated PAT was INR 1,108 crore.

• Earnings per share (EPS) for Q3 FY'25 was INR 60.15 (basic), up from INR 53.70 in Q3 FY'24.

Outlook and guidance

• Double-digit revenue growth expected to continue into next fiscal year, supported by new launches and strong demand.

• Management expects new product launches and supportive government policies to drive demand growth.

• Positive industry outlook with anticipated growth in both rural and urban markets, aided by government measures and seasonality.

• Ongoing investments in premium, EV, and digital initiatives to drive future growth.

• Continued momentum anticipated in premium, scooter, EV, and global segments.