Please find attached herewith the transcript of earnings conference call for the quarter and financial year ended March 31, 2025.
HEROMOTOCO · price
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Hero MotoCorp reported its highest-ever annual revenue of ₹40,756 crores (up 9%) and PAT of ₹4,610 crores (up 16%) for FY25. Q4 revenue stood at ₹9,939 crores with PAT of ₹1,081 crores. Overall EBITDA margin improved 40 bps to 14.4%, while ICE segment margin rose 90 bps to 16.2% on better mix and cost savings. The company declared a total dividend of ₹165 per share for FY25. Management guided industry growth of 6-7% in FY26 and said Hero expects to outpace the industry, with EV business breakeven targeted at 25,000-30,000 monthly volumes, expected in a couple of years. The company also disclosed acquiring a 34.1% stake in Euler Motors for ₹510 crores to enter the EV three-wheeler segment, and noted that Ather Energy has been listed on NSE. Investor Day was postponed.
Strong FY25 results with margin improvement and record dividend payout are positive for shareholders. Management's confidence in outpacing industry growth and expansion into new EV categories signals growth orientation, though EV investments continue to weigh on margins. Postponement of Investor Day and evasive answers on CEO transition may create some uncertainty among investors.