Hero Honda to pay 1000 per cent dividend
By Our Corporate Bureau | 13 Apr 2004
New
Delhi: Hero Honda Motors has announced a 25 per cent
increase in net profits at Rs 728.3 crore in 2003-04 from
Rs 581 crore in the previous fiscal, and 1000 per cent
total dividend for the year.
The company''s net sales went up by 14.3 per cent to Rs 5,832 crore as against Rs 5,101 crore in the previous year, Mr Pawan Kant Munjal, Managing Director, Hero Honda, said at a press conference.
"Due to the good response to all the five new models launched in 2003-04, we have also bettered our market share in the motorcycle market by four per cent to 47.6 per cent in the year," he added.
Mr Munjal said that margins, due to the rise in raw material prices, would be under even higher pressure in the current fiscal. There, however, is unlikely to be an increase in prices for the end product consumer. Hero Honda is also optimistic about registering a double digit growth in volumes in the current fiscal as well, going by positive broad indicators such as higher GDP growth, anticipation of good monsoon, declining interest rates, and renewed investment in infrastructure which would boost demand.