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Hero Honda is the Hero today in bourses!

Hero MotoCorp gains on ramping up production post lockdown hiatus..

Now  @ Rs 2391 -up 2 %- Rs 43- despite slump in results but due to opening of  full-scale operations in all their Units.

Total sales slumped 82.71% to 1.12 lakh units in May 2020 as against 6.52 lakh units in May 2019. Domestic sales tanked 82.92% to 1.08 lakh units in May 2020 as compared to 6.37 lakh units in May 2019. Exports dropped 73.93% to 3,834 units in May 2020 from 14,709 units in May 2019.

The announcement was made after market hours yesterday, 1 June 2020.

Hero MotoCorp scaled-up production in a graded manner during the month, after reopening three of its manufacturing facilities on 4 May 2020. All six manufacturing facilities of the company in India at Dharuhera and Gurugram in Haryana, Haridwar in Uttarakhand, Neemrana in Rajasthan, Halol in Gujarat and Chittoor in Andhra Pradesh have resumed operations with limited production. The company’s manufacturing facilities at global locations in Colombia and Bangladesh have also restarted production during the month.

The operations have also resumed at the Center of Innovation & Technology (CIT) in Jaipur, Rajasthan, in a graded manner and work on new product development has commenced, with strict safety and hygiene protocols. Hero MotoCorp have re-opened nearly 5,000 customer touch-points with strict safety measures in place. These outlets, which contribute 85% of the firm’s domestic sales, retailed more than 1.60 lakh units of motorcycles and scooters during the month of May 2020, driven by demand in the semi-urban and rural markets, with BS-VI vehicles witnessing positive customer response.

Hero MotoCorp reported a consolidated net profit to Rs 905.13 crore for Q3 December 2019, up by 17.1% from net profit of Rs 772.81 crore in the same period last year. Net sales declined year-on-year 10.9% to Rs 7,074.53 crore in Q3 December 2019.

Hero MotoCorp is a motorcycle and scooter manufacturer. The company is the largest two-wheeler manufacturer in the world.