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	Consolidated
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

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	Consolidated	Consolidated
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	99698100000	409234200000
	Other income	2741900000	10440800000
	Total income	102440000000	419675000000
2	Expenses
(a)	Cost of materials consumed	64584600000	266070700000
(b)	Purchases of stock-in-trade	1356800000	5479100000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	-1523500000	-2443400000
(d)	Employee benefit expense	6959700000	26800700000
(e)	Finance costs	169300000	706500000
(f)	Depreciation, depletion and amortisation expense	2041400000	8245900000
(f)	Other Expenses
1	Other Expenses	13913000000	53868700000
	Total other expenses	13913000000	53868700000
	Total expenses	87501300000	358728200000
3	Total profit before exceptional items and tax	14938700000	60946800000
4	Exceptional items	0	0
5	Total profit before tax	14938700000	60946800000
6	Tax expense
7	Current tax	3698700000	14480200000
8	Deferred tax	262900000	1097300000
9	Total tax expenses	3961600000	15577500000
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	10977100000	45369300000
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	710400000	-1611200000
16	Total profit (loss) for period	11687500000	43758100000
17	Other comprehensive income net of taxes	-180000000	-390400000
18	Total Comprehensive Income for the period	11507500000	43367700000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	11613300000	43784800000
	Total profit or loss, attributable to non-controlling interests	74200000	74200000
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	11446700000	43463800000
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	60800000	-96100000
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		192320400000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	58.08	218.96
	Diluted earnings (loss) per share from continuing operations	58.01	218.69
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	58.08	218.96
	Diluted earnings (loss) per share from continuing and discontinued operations	58.01	218.69
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		The above Consolidated 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 Consolidated 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 had 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 interim dividend @5000% i.e. Rs.100 per equity share, takes the aggregates 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 Holding 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 consolidated 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. nParticulars of subsidiaries and associates as on March 31, 2025 na) Subsidiaries (held directly) - HMCL Netherlands B.V., HMC MM Auto Limited, HMCL Americas Inc., Hero Tech Center Germany GmbH nb) Subsidiaries (held indirectly) - HMCL Colombia S.A.S. and HMCL Niloy Bangladesh Limited (subsidiaries of HMCL Netherlands B.V.) nc) Associates - Hero FinCorp Limited (Consolidated) and Ather Energy Limited (formerly known as Ather Energy Private Limited) nSubsequent 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. 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- Associate, Year ended March 31, 2025-123.83 Crore, 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. nFurther, 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 Limited (NSE) and BSE Limited (BSE). nBased on the guiding principles given in Ind AS-108 on 'Operating Segments', the Group's business activity fall within a single operating segment, namely automotive segment. nThe above consolidated financial results of the Group 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 nDate: May 13, 2025

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		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	52191300000
	Capital work-in-progress	1053700000
	Investment property	4833900000
	Goodwill	0
	Other intangible assets	5804600000
	Intangible assets under development	3818100000
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	29809400000
	Non-current financial assets
	Non-current investments	47673300000
	Trade receivables, non-current	0
	Loans, non-current	248700000
	Other non-current financial assets	470900000
	Total non-current financial assets	48392900000
	Deferred tax assets (net)	0
	Other non-current assets	3660400000
	Total non-current assets	149564300000
2	Current assets
	Inventories	20133400000
	Current financial asset
	Current investments	66359900000
	Trade receivables, current	33812900000
	Cash and cash equivalents	3835500000
	Bank balance other than cash and cash equivalents	1905300000
	Loans, current	270700000
	Other current financial assets	1415900000
	Total current financial assets	107600200000
	Current tax assets (net)	1981200000
	Other current assets	4624100000
	Total current assets	134338900000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	283903200000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	400000000
	Other equity	192320400000
	Total equity attributable to owners of parent	192720400000
	Non controlling interest	1320500000
	Total equity	194040900000
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	3400400000
	Total non-current financial liabilities	3400400000
	Provisions, non-current	4952900000
	Deferred tax liabilities (net)	6749200000
	Deferred government grants, Non-current	0
	Other non-current liabilities	0
	Total non-current liabilities	15102500000
	Current liabilities
	Current financial liabilities
	Borrowings, current	4567600000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	215000000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	56781600000
	Total Trade payable	56996600000
	Other current financial liabilities	3299000000
	Total current financial liabilities	64863200000
	Other current liabilities	7681700000
	Provisions, current	2214900000
	Current tax liabilities (Net)	0
	Deferred government grants, Current	0
	Total current liabilities	74759800000
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	89862300000
	Total equity and liabilites	283903200000
	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		Consolidated	Consolidated
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	Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Re-measurement gains/(losses) on defined benefit plans	-56400000	-160700000
2	Share of Other comprehensive income of associates	-14100000	900000
	Total Amount of items that will not be reclassified to profit and loss	-70500000	-159800000
2	Income tax relating to items that will not be reclassified to profit or loss	-14600000	-40500000
3	Amount of items that will be reclassified to profit and loss
1	Exchange differences in translating the financial information of foreign operations	-22700000	-188300000
2	Share of Other comprehensive income of associates	-107100000	-130200000
	Total Amount of items that will be reclassified to profit and loss	-129800000	-318500000
4	Income tax relating to items that will be reclassified to profit or loss	-5700000	-47400000
5	Total Other comprehensive income	-180000000	-390400000

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			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			60946800000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			706500000
	Adjustments for decrease (increase) in inventories			-2574400000
	Adjustments for decrease (increase) in trade receivables, current			-7594800000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			172800000
	Adjustments for decrease (increase) in other non-current assets			59700000
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			2742900000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			767500000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			1643200000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			8245900000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			620500000
	Adjustments for provisions, non-current			1608100000
	Adjustments for other financial liabilities, current			189800000
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			-188200000
	Adjustments for dividend income			228800000
	Adjustments for interest income			4457400000
	Adjustments for share-based payments			156600000
	Adjustments for fair value losses (gains)			-4146400000
	Adjustments for undistributed profits of associates			1611200000
	Other adjustments for which cash effects are investing or financing cash flow			0
	Other adjustments to reconcile profit (loss)			1566300000
	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)			-2321400000
	Net cash flows from (used in) operations			58625400000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			15651500000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			42973900000
	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			224400000
	Purchase of property, plant and equipment			8566300000
	Proceeds from sales of investment property			493357500000
	Purchase of investment property			504982000000
	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			753100000
	Interest received			4457400000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-1039400000
	Net cash flows from (used in) investing activities	-17033600000
	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			933300000
	Repayments of borrowings			0
	Payments of lease liabilities			551600000
	Dividends paid			27998300000
	Interest paid			706500000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			100000000
	Net cash flows from (used in) financing activities			-28153900000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			-2213600000
	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			-2213600000
	Cash and cash equivalents cash flow statement at beginning of period			6049100000
	Cash and cash equivalents cash flow statement at end of period			3835500000