Hero MotoCorp doubles capex to Rs 1,500 crore

Hero MotoCorp has more than doubled its capital expenditure (capex) for the current financial year to Rs 1,500 crore. The two-wheeler major had earmarked Rs 700 crore capex in 2018-19.

According to Hero MotoCorp CFO Niranjan Gupta, this is mainly to upgrade its portfolio to conform to BS-VI emission norms and for its upcoming plant in Andhra Pradesh.

The capital would also be utilised for the development of new products. “We have earmarked a capex of Rs 1,500 crore this fiscal. It will be utilised for Andhra plant, BS-VI upgradation and usual things like new product development,” he said.

Hero MotoCorp has lunched two new scooters to cater to both, domestic as well as international markets. Introducing Maestro Edge 125 with fuel injection technology priced at Rs 62,700, Hero claimed it is India’s first scooter with fuel injection technology.

Speaking to reporters, Gupta said the company’s share in the scooter segment remained ‘under indexed’ and there was enormous opportunity for growth.

Hero MotoCorp has more than doubled its capital expenditure (capex) for the current financial year to Rs 1,500 crore. The two-wheeler major had earmarked Rs 700 crore capex in 2018-19.

According to Hero MotoCorp CFO Niranjan Gupta, this is mainly to upgrade its portfolio to conform to BS-VI emission norms and for its upcoming plant in Andhra Pradesh.

The capital would also be utilised for the development of new products. “We have earmarked a capex of Rs 1,500 crore this fiscal. It will be utilised for Andhra plant, BS-VI upgradation and usual things like new product development,” he said.

Hero MotoCorp has lunched two new scooters to cater to both, domestic as well as international markets. Introducing Maestro Edge 125 with fuel injection technology priced at Rs 62,700, Hero claimed it is India’s first scooter with fuel injection technology.

Speaking to reporters, Gupta said the company’s share in the scooter segment remained ‘under indexed’ and there was enormous opportunity for growth.

Image Credit : content.indiainfoline.com

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