Hero MotoCorp fell 1.93% to Rs 2305 at 9:24 IST on BSE after net profit declined 3.45% to Rs 554.43 crore on 6.31% rise in net sales to Rs 6455.70 crore in Q4 March 2014 over Q4 March 2013.
The result was announced after market hours on Wednesday, 28 May 2014.
Meanwhile, the BSE Sensex was down 53.46 points, or 0.22%, to 24,502.63.
On BSE, so far 6,187 shares were traded in the counter, compared with an average volume of 18,027 shares in the past one quarter.
The stock hit a high of Rs 2,351.90 and a low of Rs 2,268.90 so far during the day. The stock hit a record high of Rs 2,775.05 on 16 May 2014. The stock hit a 52-week low of Rs 1,565.95 on 25 June 2013.
The stock had outperformed the market over the past one month till 28 May 2014, rising 8.56% compared with 8.50% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.60% as against Sensex's 16.27% rise.
More From This Section
The large-cap company has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.
Hero MotoCorp's net profit declined 0.43% to Rs 2109.08 crore on 6.54% rise in net sales to Rs 25124.91 crore in the year ended March 2014 over the year ended March 2013.
Riding on its highest-ever quarterly sales of 15.89 lakh units of two-wheeler for the period, the company's total turnover (net sales & other operating income) in the quarter grew to Rs 6512.96 crore, a growth of 6% over Rs 6145.75 crore recorded in the corresponding quarter in last fiscal. Earnings before interest, taxes, depreciation and amortization (EBITDA) margin for the quarter stood at a healthy 13.73%.
Fuelled by its landmark sales of over 62.45 lakh units in this fiscal, the company registered a total turnover (net sales & other operating income) of Rs 25275.47 crore for the financial year ended 2014 (FY 2014), as compared to Rs 23768.11 crore reported in the financial year ended 2013 (FY 2013). The company reported profit alter tax (PAT) of Rs 2109.08 crore and operating margin of 9.62%, in the fiscal. The company's EBIDTA stood at 14.01% in FY 2014.
There is only 30% tax exemption this year, it being the sixth year of the company's operations at Haridwar. The company was entitled to 100% exemption in the first five years of operation at its plant located in Haridwar, which expired last year.
Pawan Munjal, Managing Director & Chief Executive Officer, said, "These numbers are reflective of our new strategic approach focused on bringing path-breaking technologies and consolidating our leadership. FY 2014 was all about setting new benchmarks, which culminated with the sales of 6.25 million during the year - our highest-ever sales for any financial year. However, the industry continued to witness tepid growth during FY 2014, although the sentiments did improve in the second half of the year, starting with the festival season in October. In the fiscal year ending March 2015 (FY 2015), we have an action-packed year ahead of us with a slew of new products lined up for launch and further expansion of our global footprint. The country has just entered a new era of governance. After three long decades, a single political party has come to power with such a huge majority, and it is clearly a mandate for good governance, development and inclusive growth. With the new government expected to speed up the reforms process and improve the investment climate, we look forward to a revival of the economy and the industry this year."
Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.
Powered by Capital Market - Live News