Hero MotoCorp Ltd. has extended its partnership with Harley-Davidson Motor Co. to "expand the Harley-Davidson X440 into new variants" as well as to develop a new motorcycle.
The scope of the partnership includes "development of new motorcycle and contract-based manufacturing", according to an exchange filing on Friday.
Harley-Davidson X440, one of the key offerings of Harley-Davidson, is manufactured at Hero MotoCorp's Garden Factory at Neemrana, Rajasthan.
This collaboration marked both the company's entry into the 440cc segment for the first time in India.
The motorcycle was launched in India in July 2023 at an ex-showroom introductory price range of Rs 2.29 lakh to 2.69 lakh. In the subsequent month, the prices were raised by Rs 10,500 across all variants.
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Q2 Performance
Hero MotoCorp's revenue rose 10.8% year-on-year to Rs 10,463 crore for the second quarter of the current fiscal 2025.
The company recorded a net profit of Rs 1,204 crore, indicating a 14.2% year-on-year growth for the July- September quarter of the ongoing fiscal.
The motorcycle and scooter manufacturer's earnings before tax, interest, depreciation and amortisation surged to Rs 1,516 crore, up 14.1% year-on-year for the three months ended Sept. 30, 2024 while its margins rose by 40 basis points to 14.5% in the same period.
Shares of Hero MotoCorp closed 0.87% lower at 4,237.95 per share on the National Stock Exchange. In contrast, the benchmark Nifty 50 rose 0.27%. The stock has risen 4.27% in last 12 months and 2.94% on a year-to-date basis.
Out of the 44 analysts monitoring the company, 30 have a 'buy' rating on the stock, and seven maintain 'hold' and seven recommend 'sell', according to Bloomberg data. The average of 12-month analysts' price targets suggests a potential upside of 25%.
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