“We continue to be on the profitable growth journey, crossing Rs 10,000 crore revenue for the first time ever, accompanied by the highest ever underlying PAT. As we surge forward, we are investing behind long term capability building to ensure sustained delivery of growth in future,” said Niranjan Gupta, CEO, Hero MotoCorp.
The growth was led by significant improvement 125 cc segment sales. The 100/1105cc segments continued to dominate as 70 per cent of demand came from here. Electric vehicle sales and global business saw positive growth as well. The increase in sales comes despite higher costs of two wheelers in the reported quarter.
“We are seeing a sharp recovery in market share in 125 cc segment charged by the new model Xtreme 125 cc, while we continue to maintain formidable market share in entry and deluxe 100/110 cc segment of over 70% powered by our brands like Splendor, Passion, and HF deluxe. Our focus moving forward will be, building our brands in the premium segment on the back of launches done in the last few quarters, to win in this segment,” added Gupta.
The company plans to expand its presence of EV brand Vida in the next quarter. It expects better sales owing to the upcoming festive season.“We have now seen our EV brand Vida starting to increase its presence and market share, and we will be expanding our portfolio into the affordable segment within this fiscal,” said Gupta. Overall, the Indian two-wheeler industry saw a growth of 12.56 per cent YoY with 45,54,244 units sold.