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Hero Honda: Robust 3Q net

Jan 16, 2001

Hero Honda, India's largest manufacturer of motorcycles has reported a net profit of Rs 701 m for the 3QFY01 a growth of 45% YoY, as compared to Rs 485 m for the 3QFY00. Its total income for the 3QFY01 was Rs 8.5 bn as compared to Rs 5.9 bn in the 3QFY00, a growth of 44% YoY. This robust performance is a pointer to the surging volumes reported by the company in the current financial year. As a result it has managed to increase its market share to 48% currently as compared to 42% in FY2000.

For the 3QFY01, the company has sold 275,164 motorcycles a growth of 38% as compared to 198,541 motorcycles in 3QFY00. From April to December 2000, the company sold 754,794 units as compared to 537,113 units for the same period of the previous year, a growth of 41% YoY.

The company has announced a stock split of 5 equity shares of Rs 2 each as compared to the present 1 equity share of face value Rs 10 each.

On the current price of Rs 908 it is trading at 10.7x FY02E EPS of Rs 85.2.

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