HERO MOTOCORP Announces Quarterly Results (3QFY21); Net Profit Up 23.2%

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HERO MOTOCORP Announces Quarterly Results (3QFY21); Net Profit Up 23.2%
Wed, 10 Feb

HERO MOTOCORP has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

HERO MOTOCORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m69,96793,67397,7584.4%39.7%
Other incomeRs m1,8221,4132,02743.4%11.2%
TurnoverRs m71,78995,08799,7854.9%39.0%
ExpensesRs m59,57880,80983,6213.5%40.4%
Gross profitRs m10,39012,86414,1369.9%36.1%
DepreciationRs m2,0371,7321,698-1.9%-16.6%
InterestRs m5946470.2%-21.5%
Profit before taxRs m10,11512,50014,41815.4%42.5%
TaxRs m1,3112,9653,57420.5%172.5%
Profit after taxRs m8,8049,53510,84513.7%23.2%
Gross profit margin%14.813.714.5
Effective tax rate%13.023.724.8
Net profit margin%12.310.010.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 39.7% on a year-on-year (YoY) basis. The expenses were up by 40.4% YoY during the same period.
  • The company's operating profit increased by 36.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.5% in 3QFY21 as against 14.8% in 3QFY20.
  • Depreciation charges declined by 16.6% and finance costs declined by 21.5% YoY, respectively.
  • Other income increased by 11.2% YoY during the quarter.
  • Net profit for the quarter increased by 23.2% YoY. Net profit margins during the quarter declined from 12.3% in 3QFY20 to 10.9% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.5% QoQ during the same period.
  • The company's operating profit increased by 9.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.5% in 3QFY21 as against 13.7% in 2QFY20.
  • Net profit for the quarter increased by 13.7% QoQ, while net profit margins increased from 10.0% in 2QFY20 to 10.9% in 3QFY21.

To see how HERO MOTOCORP has performed over the last eight quarters,please visit here.

Urgent New Alert: About Coming Once-in-a-generation Wealth Shift

HERO MOTOCORP Share Price Performance

Over the last one year, HERO MOTOCORP share price has moved up from Rs 2,385.1 to Rs 3,514.6, registering a Gain of Rs 1,129.6 or around 47.4%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 24,523.7 (down 0.4%). Over the last one year it has moved up from 17,647.8 to 24,523.7, a gain of 6,876 points (up 39.0%).

Overall, the S&P BSE SENSEX is up 25.0% over the year.

Current Valuations

At the current price of Rs 3,514.6, the price to earnings (P/E) ratio of HERO MOTOCORP stands at 25.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.9 times.

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