Hero MotoCorp Limited has announced key decisions following its Board of Directors meeting held on February 6, 2025. The company approved its unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2024. The financial reports were released along with a limited review report, and a press release was issued regarding the same.
Hero MotoCorp has decided to invest ₹5.15 crore in a Solar Power Wheeling project under the Group Captive mechanism for its plants located in Dharuhera and Gurugram. This investment will be made through a Special Purpose Vehicle (SPV) in partnership with CleanMax Enviro Energy Solutions Pvt. Ltd. (CleanMax). The SPV will be established under the Green Energy Open Access Regulations 2023 of the Haryana Electricity Regulatory Commission. Hero MotoCorp will acquire a 26% stake in the SPV, with an expected completion timeline of approximately one year.
This initiative aims to enhance the company’s renewable energy footprint, aligning with its sustainability goals. The investment will help reduce dependence on conventional power sources and promote green energy usage in its manufacturing operations.
Additionally, the board also declared an interim dividend of 5000%, amounting to ₹100 per equity share with a nominal value of ₹2 per share for the financial year 2024-25. The record date for determining eligible shareholders is set for February 12, 2025, and dividend payments or dispatch of warrants will be completed by March 8, 2025.
The company has confirmed that all relevant disclosures and necessary approvals have been complied with under SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
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