Stock Report

Hero MotoCorp sells 468410 units in February 2024

Posted On : 2024-03-01 17:53:19( TIMEZONE : IST )

Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, sold 468,410 units in February 2024.

This translates into a robust 19% growth over the corresponding month (February 2023), when it had sold 394,460 units.

The volumes in the month of February indicate the continuously improving consumer sentiments and the company expects the positive trend to continue in the coming months, on the back of favorable economic indicators.

In line with strategy of growing the core and expanding premium product portfolio, the Company started the sales of its recently launched motorcycle - Xtreme 125R and expanded its upper premium portfolio of 440cc motorcycles with the launch of Mavrick 440, deliveries of which are to begin in April 2024. The Company is in the process of scaling up the volumes of Harley-Davidson X440 and Mavrick 440, the first phase of which should be completed by the middle of this year.

Heralding a new era of premium customer experience, Hero MotoCorp, has also scaled the expansion of its Premia outlets and refreshed the existing dealerships to Hero 2.0. Till date, more than 370 Hero 2.0 dealerships are operational. The Company will also take the current number of four Premia outlets to 100 by the end of June 2024.

In a thrilling display of performance at the Abu Dhabi Desert Challenge 2024, Hero MotoSports Team Rally, the motorsports team of Hero MotoCorp showcased exceptional skill and resilience across two stages. The team achieved second place in Stage 1 with Aaron Mare impressively securing podium position while Ross Branch demonstrated resilience despite technical setbacks.

In Stage 2, the team continued its dominance with Aaron Mare's victory and Ross Branch securing 4th position in overall ranking. Their performances underscore Hero MotoSports' commitment to excellence in motorsport, showcasing skill, camaraderie, and determination amidst the demanding Abu Dhabi desert terrain.

As announced in December 2023, Vivek Anand has joined the Company as the Chief Financial Officer (CFO), w.e.f. today, 1 March 2024. Prior to joining Hero MotoCorp, Vivek, a Chartered Accountant by profession with almost three decades of diverse industry experience across FMCG, Telecom, Consumer Healthcare and Real Estate, held the position of CFO at DLF Limited for the past four years.

Shares of Hero MotoCorp Limited was last trading in BSE at Rs. 4504.40 as compared to the previous close of Rs. 4426.50. The total number of shares traded during the day was 12482 in over 1990 trades.

The stock hit an intraday high of Rs. 4522.05 and intraday low of 4450.00. The net turnover during the day was Rs. 56061525.00.