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Net sales during the quarter increased 39.2% year-on-year (YoY) to Rs 8685.97 crore. EBITDA was at Rs 1,211 crore in Q4 FY21, up 83.5% from Rs 660 crore in Q4 FY20. EBITDA margin stood at 13.9% as on 31 March 2021 compared with 10.6% as on 31 March 2020. The company sold 15.68 lakh units of motorcycles & scooters in Q4 FY21 as against 13.23 lakh units sold in Q4 FY20, registering a growth of 18.5% on a YoY basis. On a consolidated basis, the two-wheeler major reported 45.7% rise in net profit to Rs 880.94 crore on 37.2% increase in net sales to Rs 8689.74 crore in Q4 FY21 over Q4 FY20. The company, however, recorded 19.8% drop in consolidated net profit to Rs 2917.75 crore on 5.8% rise in net sales to Rs 30959.19 crore in the year ended 31 March 2021 over the year ended 31 March 2021. The company announced a final dividend of Rs 25 per share and special dividend of Rs 10 per share. Dr. Pawan Munjal Chairman & CEO, Hero MotoCorp, said: The Financial Year (FY) 2021 was one of the most challenging periods for the entire world due to the outbreak of the Coronavirus pandemic. While a late recovery towards the second half of the FY'21 saw the company gain strong volumes, the broader market continues to suffer in view of the recent escalations in Covid-19 cases. Despite the challenges, Hero MotoCorp grew its market share in both motorcycles and scooters. We also grew our presence in the premium segment that would be further strengthened with our strategic partnership with Harley-Davidson. Going forward, we continue to remain cautiously optimistic on the demand for personal mobility despite the challenging circumstances. Our EV journey has further been augmented with our recent partnership with Gogoro, the developer of the world's largest battery-swapping network. Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said, Our tight working capital management has further helped in ensuring the much-needed liquidity buffer in these times. We expect normalcy to kick-in from the second quarter with a likely slowdown in Covid-19 cases and higher vaccination levels. Due to the evolving pandemic situation, we are remaining prepared to address any eventuality to be able to stabilize our business in the remaining months of the quarter. A healthy monsoon and harvest season and a rebound in GDP should aid the industry's recovery from Q2 onwards. The company also expects a significant growth in its global business with a renewed thrust on developing key-overseas markets.” Hero MotoCorp had proactively halted the plant operations temporarily in a staggered manner from April 22-May 1. In view of the rapid escalation in the spread of Covid-19 across the country, the company decided to extend the shutdown till May 9, 2021. The plant operations will resume on May 10. Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters, in terms of unit volumes sold by a single company in a year. The scrip shed 0.51% to currently trade at Rs 2898 on the BSE. Powered by Capital Market - Live News |