Integrated Filing — IndAS

General information about company
Scrip Code	500182
NSE Symbol	HEROMOTOCO
MSEI Symbol	NOTLISTED
ISIN	INE158A01026
Name of company	Hero MotoCorp Limited
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	13-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	06-May-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited for the quarter ended	Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Single segment
Description of single segment	Automotive
Start date and time of board meeting	13-May-2025   10:30:00
End date and time of board meeting	13-May-2025   14:20:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion
Whether the company has any related party?	Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?	Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public	NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.	NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)?	No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?	Yes
Latest Date on which RPT policy is updated	2025-02-06
Indicate Company website link for updated RPT policy of the Company	https://www.heromotocorp.com/content/dam/hero-aem-website/in/en-in/company-section/reports-and-polices/policies/pdfs/related_party_transactions_policy_06_02_2025.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter?	No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No
Not Applicable

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Unaudited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	99386500000	407563700000
	Other income	2237000000	10559200000
	Total income	101623500000	418122900000
2	Expenses
(a)	Cost of materials consumed	63938300000	265277500000
(b)	Purchases of stock-in-trade	1356800000	5479100000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	-226400000	-69400000
(d)	Employee benefit expense	6711400000	25952000000
(e)	Finance costs	47300000	199200000
(f)	Depreciation, depletion and amortisation expense	1920700000	7758600000
(f)	Other Expenses
1	Other Expenses	13450900000	52247800000
	Total other expenses	13450900000	52247800000
	Total expenses	87199000000	356844800000
3	Total profit before exceptional items and tax	14424500000	61278100000
4	Exceptional items	0	0
5	Total profit before tax	14424500000	61278100000
6	Tax expense
7	Current tax	3682800000	14431000000
8	Deferred tax	-67700000	747600000
9	Total tax expenses	3615100000	15178600000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	10809400000	46099500000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	10809400000	46099500000
17	Other comprehensive income net of taxes	-43000000	-120300000
18	Total Comprehensive Income for the period	10766400000	45979200000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
21	Details of equity share capital
	Paid-up equity share capital	400000000	400000000
	Face value of equity share capital	2	2
27	Details of debt securities
22	Reserves excluding revaluation reserve		197668500000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	54.06	230.53
	Diluted earnings (loss) per share from continuing operations	53.99	230.25
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	54.06	230.53
	Diluted earnings (loss) per share from continuing and discontinued operations	53.99	230.25
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		The above standalone financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of Companies Act, 2013, read together with the Companies (Indian Accounting Standard) Rules, 2015 (as amended). nThe above standalone financial results for the quarter and year ended March 31, 2025 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meetings held on May 12, 2025 and May 13, 2025, respectively. nOn May 13, 2025, the Board of Directors has considered and approved final dividend @3,250% i.e. Rs.65 per equity share (face value of Rs.2 per equity share) for the financial year 2024-25. This dividend together with the interim dividend @ 5000% i.e. Rs.100 per equity share, takes the aggregates the total dividend for the year 2024-25 to Rs.165 per equity share i.e. 8,250%. nDuring the year ended March 31, 2024, the Company has introduced a voluntary retirement scheme (VRS) and has provided Rs.159.99 crores for employees who have accepted to be part of VRS and has disclosed the same as exceptional item in the standalone financial results. nDuring the quarter and year ended March 31, 2025, 11,305 and 89,095 equity shares respectively of Rs. 2 each were issued and allotted under the Employee Incentive Scheme – 2014. nDuring the year ended March 31, 2025, the Company has further invested in its associate. Details are as follows: Name of the Company- Ather Energy Limited (formerly known as Ather Energy Private Limited, Nature- Asscoiate, Year ended March 31, 2025-123.83, Subsequent to year end, an indirect subsidiary, Hero MotoCorp Do Brasil LTDA, was incorporated on April 08, 2025 . As of the date of approval of these financial results , the subsidiary has not yet commenced its operations. Additionally, the Holding Company has made an investment of Rs. 510 crores in Euler Motors Private Limited, which now qualifies as an associate. nBased on the guiding principles given in Ind AS-108 on 'Operating Segments', the Company's business activity fall within a single operating segment, namely automotive segment. nDuring the year ended March 31, 2024, the Income Tax Authorities had disallowed certain expenses incurred in prior periods and made a demand of Rs.178 crores. The Company evaluated the demand and based on external legal advice, supporting documents for these expenses and other available information had filed an appeal with the Commissioner of Income Tax – Appeals in April 2024, and concluded that no provision is required for this demand as it is probable that the Company’s position will be accepted upon ultimate resolution. Further, the Company and its Chairman are under investigation by certain other Government agencies. During the current year, investigation against the Company and the Chairman by certain Government agencies were concluded in their favour. While uncertainty exists regarding the ultimate outcome of the other investigations, based on the developments in favour of the Company’s position and external legal advice, the Company after considering available information and facts, as of the date of approval of these financial results, has not identified any adjustments, disclosures or any effect to financial statements or financial information. nThe figures for the current quarter ended March 31, 2025 and quarter ended March 31, 2024 are the balancing figures between the audited figures for the year ended March 31, 2025 and March 31, 2024, respectively and published results figures upto nine months ended December 31, 2024 and December 31, 2023, respectively which were subjected to limited review. Previous period/year figures have been regrouped/ reclassified wherever necessary. nSubsequent to the quarter ended March 31, 2025, associate of the Company Ather Energy Limited (formerly known as Ather Energy Private Limited), successfully completed its Initial Public Offering (IPO) of equity shares. Following the IPO, the equity shares were listed on the National Stock Exchange (NSE) and BSE Limited (BSE). nThe above standalone financial results of the Company are available on the Company's website www.heromotocorp.com and also on www.bseindia.com and www.nseindia.com. nFor and on behalf of the board of directors nDR. PAWAN MUNJAL nExecutive Chairman nDIN : 00004223 nGurugram, Haryana nMay13, 2025 nWith reference to the SEBI Circular No. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021 (erstwhile circular no. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018) read with updated circular dated April 13, 2022 w.r.t. Fund raising by issuance of Debt Securities by Large Corporates, we confirm that Hero MotoCorp Limited is not a Large Corporate as per the applicability criteria given in the aforesaid SEBI Circulars. Further, the required details are hereunder: Name of the Company- Hero MotoCorp Limited, CIN-L35911DL1984PLC017354, Outstanding borrowing of company as on 31st March 2025 (in Rs. crore)- NIL, Highest credit rating during the previous FY along with name of the CRA- ICRA – AAA, CRISIL - AAA, Name of stock exchange in which the fine shall be paid, in case of shortfall in the required borrowing under the framework- Not Applicable n

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	49489600000
	Capital work-in-progress	1066200000
	Investment property	3931800000
	Goodwill	0
	Other intangible assets	5592600000
	Intangible assets under development	3858600000
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	82989700000
	Trade receivables, non-current	0
	Loans, non-current	248700000
	Other non-current financial assets	459900000
	Total non-current financial assets	83698300000
	Deferred tax assets (net)	0
	Other non-current assets	3197800000
	Total non-current assets	150834900000
2	Current assets
	Inventories	14576100000
	Current financial asset
	Current investments	66106000000
	Trade receivables, current	36744300000
	Cash and cash equivalents	2890800000
	Bank balance other than cash and cash equivalents	640700000
	Loans, current	270700000
	Other current financial assets	1127800000
	Total current financial assets	107780300000
	Current tax assets (net)	1981200000
	Other current assets	4028400000
	Total current assets	128366000000
3	Non-current assets classified as held for sale
4	Regulatory deferral account debit balances and related deferred tax Assets
	Total assets	279200900000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	400000000
	Other equity	197668500000
	Total equity attributable to owners of parent	198068500000
	Non controlling interest
	Total equity	198068500000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	0
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities	2680300000
	Total non-current financial liabilities	2680300000
	Provisions, non-current	4890800000
	Deferred tax liabilities (net)	5095800000
	Deferred government grants, Non-current	0
	Other non-current liabilities	0
	Total non-current liabilities	12666900000
	Current liabilities
	Current financial liabilities
	Borrowings, current	0
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	159200000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	55502200000
	Total Trade payable	55661400000
	Other current financial liabilities	3058400000
	Total current financial liabilities	58719800000
	Other current liabilities	7578200000
	Provisions, current	2167500000
	Current tax liabilities (Net)	0
	Deferred government grants, Current	0
	Total current liabilities	68465500000
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	81132400000
	Total equity and liabilites	279200900000
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Unaudited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
	Total Segment Revenue
	Less: Inter segment revenue
	Revenue from operations
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
	Total Profit before tax
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax
3	(Segment Asset - Segment Liabilities)
	Segment Asset
	Total Segment Asset
	Un-allocable Assets	null	null
	Net Segment Asset	null	null
4	Segment Liabilities
	Segment Liabilities
	Total Segment Liabilities
	Un-allocable Liabilities	null	null
	Net Segment Liabilities	null	null
	Disclosure of notes on segments

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Unaudited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Re-measurement losses on defined benefit plans	-57500000	-160800000
	Total Amount of items that will not be reclassified to profit and loss	-57500000	-160800000
2	Income tax relating to items that will not be reclassified to profit or loss	-14500000	-40500000
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss
5	Total Other comprehensive income	-43000000	-120300000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Unaudited
D	Nature of report standalone or consolidated			Standalone
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			61278100000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			199200000
	Adjustments for decrease (increase) in inventories			-138500000
	Adjustments for decrease (increase) in trade receivables, current			-9773000000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			544600000
	Adjustments for decrease (increase) in other non-current assets			52800000
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			1636100000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			379900000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			1722200000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			7758600000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			626100000
	Adjustments for provisions, non-current			1563400000
	Adjustments for other financial liabilities, current			112600000
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			0
	Adjustments for dividend income			737500000
	Adjustments for interest income			4405800000
	Adjustments for share-based payments			156600000
	Adjustments for fair value losses (gains)			-4172500000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			0
	Other adjustments to reconcile profit (loss)			356700000
	Other adjustments for non-cash items			0
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			-4118500000
	Net cash flows from (used in) operations			57159600000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			15340600000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			41819000000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			1238300000
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			0
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			165100000
	Purchase of property, plant and equipment			8268400000
	Proceeds from sales of investment property			489176100000
	Purchase of investment property			500835600000
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			737500000
	Interest received			4405800000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) investing activities	-15857800000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			69200000
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			0
	Repayments of borrowings			0
	Payments of lease liabilities			341000000
	Dividends paid			27998300000
	Interest paid			199200000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			-28469300000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			-2508100000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			-2508100000
	Cash and cash equivalents cash flow statement at beginning of period			5398900000
	Cash and cash equivalents cash flow statement at end of period			2890800000