HEROMOTOCO2024-01-012024-03-31 HEROMOTOCO2024-01-012024-03-31 HEROMOTOCO2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member HEROMOTOCO2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member HEROMOTOCO2024-03-31 HEROMOTOCO2024-01-012024-03-31in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member HEROMOTOCO2024-01-012024-03-31in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss02Member HEROMOTOCO2024-01-012024-03-31in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss01Member HEROMOTOCO2024-01-012024-03-31in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss02Member HEROMOTOCO2024-01-012024-03-31in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member HEROMOTOCO2024-01-012024-03-31in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss02Member HEROMOTOCO2024-01-012024-03-31in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member HEROMOTOCO2024-01-012024-03-31in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss02Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 500182 HEROMOTOCO NOTLISTED Hero MotoCorp Limited Equity 2023-04-01 2024-03-31 2024-05-08 2024-04-23 INR Crores Yearly 11:20:00 14:35:00 2024-05-08 2024-05-08 true Cash Flow Indirect Declaration of unmodified opinion Single segment Automotive 2024-01-01 2024-03-31 Audited Consolidated 96166800000.00 1773300000.00 97940100000.00 61097900000.00 1266000000.00 922800000.00 6634300000.00 76400000.00 1966100000.00 12310100000.00 84273600000.00 13666500000.00 0.00 13666500000.00 3310300000.00 175900000.00 3486200000.00 0.00 10180300000.00 0.00 0.00 0.00 -745700000.00 9434600000.00 -118800000.00 9315800000.00 9350100000.00 84500000.00 9235000000.00 80800000.00 399800000.00 2 46.78 46.70 0.00 0.00 46.78 46.70 3) 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).4) The above Consolidated financial results for the quarter and year ended March 31, 2024 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meetings held on May 08, 2024.5) On May 08, 2024, the Board of Directors had considered and approved final dividend @ 2000% i.e. Rs.40 per equity share (face value of Rs.2 per equity share) for the financial year 2023-24. This dividend together with interim & special dividend, marking the centennial year of Chairman Emeritus Dr Brijmohan Lall Munjal of Rs.100 per equity share, takes the aggregates total dividend for the year 2023-24 to Rs. 140 per equity share i.e.7000%.6) During the quarter ended June 30, 2023, 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 consolidated financial results.7) During the quarter and year ended March 31, 2024, 34,588 and 82,023 equity shares respectively of Rs. 2 each were issued and allotted under the Employee Incentive Scheme – 2014. 8) Particulars of subsidiaries and associates as on March 31, 2024 a) Subsidiaries (held directly) - HMCL Netherlands B.V., HMC MM Auto Limited, HMCL Americas Inc., Hero Tech Center Germany GmbHb) Subsidiaries (held indirectly) - HMCL Colombia S.A.S., HMCL Niloy Bangladesh Limited (subsidiaries of HMCL Netherlands B.V.) c) Associates - Hero FinCorp Limited (Consolidated) and Ather Energy Private Limited 9) During the current quarter and year ended March 31, 2024, the Company has further invested in its subsidiaries & associate. Details are as follows: Name of the Company Nature Quarter ended 31-03-2024 Year ended 31-03-2024 HMCL Netherlands B.V;Subsidiary; -; 22.50; HMC MM Auto Limited Subsidiary; -; 15.00; Ather Energy Pvt. Ltd. Associate;139.41; 639.41; Total 139.41; 676.91 10) Based 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.11) In the quarter ended March 31, 2024, the Income Tax Authorities disallowed certain expenses incurred in prior periods and made a demand of Rs.178 crores. The Company has evaluated the demand and based on external legal advice, supporting documents for these expenses and other available information has filed an appeal with the Commissioner of Income Tax – Appeals, and has concluded that there is no provision 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. These investigations have not been concluded. While uncertainty exists regarding the ultimate outcome of the investigation, 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.12) The figures for the current quarter ended March 31, 2024 and quarter ended March 31, 2023 are the balancing figures between the audited figures for the year ended March 31, 2024 and March 31, 2023, respectively and published results figures upto nine months ended December 31, 2023 and December 31, 2022, respectively which were subjected to limited review. Previous period/year figures have been regrouped/ reclassified wherever necessary.13) The 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 Single segment 2023-04-01 2024-03-31 Audited Consolidated 377886200000.00 8545400000.00 386431600000.00 248368900000.00 4842000000.00 1883500000.00 24715500000.00 763700000.00 7573600000.00 44580000000.00 332727200000.00 53704400000.00 -1599900000.00 52104500000.00 12641800000.00 838600000.00 13480400000.00 0.00 38624100000.00 0.00 0.00 0.00 -1202500000.00 37421600000.00 -328600000.00 37093000000.00 37448300000.00 -26700000.00 37120700000.00 -27700000.00 399800000.00 2 176589400000.00 187.36 187.04 0.00 0.00 187.36 187.04 Other Expenses 12310100000.00 Other Expenses 44580000000.00 1356500000.00 52125800000.00 1271600000.00 0.00 0.00 5436500000.00 3569000000.00 0.00 30835900000.00 53625700000.00 0.00 211500000.00 1894400000.00 55731600000.00 3356800000.00 6046200000.00 158373400000.00 17559000000.00 43050800000.00 26302200000.00 6049100000.00 915600000.00 245600000.00 4235300000.00 80798600000.00 0.00 4796900000.00 103154500000.00 0.00 0.00 261527900000.00 399800000.00 176589400000.00 176989200000.00 178345700000.00 0.00 0.00 3772600000.00 3772600000.00 3224600000.00 5701300000.00 0.00 0.00 12698500000.00 3634300000.00 56229000000.00 2987500000.00 62850800000.00 6038500000.00 1594400000.00 0.00 0.00 70483700000.00 83182200000.00 261527900000.00 763700000.00 4900000.00 695900000.00 0.00 -2102300000.00 70500000.00 0.00 1647800000.00 0.00 8627200000.00 0.00 417600000.00 0.00 7573600000.00 0.00 -332400000.00 980300000.00 83500000.00 0.00 19200000.00 185900000.00 3013100000.00 237400000.00 -4030100000.00 1202500000.00 0.00 162600000.00 0.00 0.00 10417900000.00 62522400000.00 0.00 0.00 0.00 13291700000.00 0.00 49230700000.00 0.00 6394100000.00 0.00 0.00 0.00 0.00 0.00 0.00 107000000.00 7878900000.00 453066700000.00 461782700000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 610600000.00 3013100000.00 0.00 979600000.00 0.00 -18278700000.00 0.00 0.00 104100000.00 0.00 0.00 0.00 0.00 0.00 702900000.00 200900000.00 0.00 113200000.00 27020900000.00 763700000.00 0.00 125800000.00 -27165900000.00 3786100000.00 0.00 3786100000.00 2263000000.00 6049100000.00 Re-measurement gains/(Losses) on defined benefit plans -200500000.00 Share of other comprehensive income of associates -11400000.00 Re-measurement gains/(Losses) on defined benefit plans -300000000.00 Share of other comprehensive income of associates -15500000.00 -211900000.00 -315500000.00 -50300000.00 -75100000.00 Exchange differences in translating the financial information of foreign operations 42300000.00 Share of other comprehensive income of associates 11100000.00 Exchange differences in translating the financial information of foreign operations 19200000.00 Share of other comprehensive income of associates -102600000.00 53400000.00 -83400000.00 10600000.00 4800000.00