Hero Moto Tax Notice: Hero MotoCorp faces a tax demand notice of INR 308.65 crore plus interest from the Income Tax Department for six assessment years. The company plans to appeal against the orders, stating the demand is unsustainable. Despite this, its total sales rose 5.5% in FY24, with motorcycle and scooter sales showing growth.
Factors such as incremental volume from the premium bike segment, strong product lineup, and improving demand for entry-level bikes may help the country’s largest bike maker in mitigating the margin pressure from the EV segment and retain its outperformance on bourses.
Hero Moto Q3 Results: Revenue from operations grew 21% YoY in the quarter to Rs 9,724 crore and was higher than an ETnow poll of Rs 9,690 crore. The board has recommended an interim dividend of Rs 75 a share for the current financial year, and a special dividend of Rs 25 a share to mark the centennial year of Chairman Emeritus Brijmohan Lall Munjal.