Hero July sales surge 21%, 4.5 lakh units dispatched
Vida, Hero's electric mobility arm, achieved a record-breaking performance in July, with 11,226 units dispatched and 10,489 Vahan registrations. The brand doubled its EV Vahan market share to 10.2% YoY, signaling growing consumer acceptance. The newly launched Vida VX2, promoted as 'Badalte India ka Scooter,' has received strong market response thanks to its innovative Battery-as-a-Service (BaaS) model.Hero MotoCorp's global business also maintained strong momentum with over 37,000 units exported.Hero MotoCorp Dispatch Data:CategoryJuly 2025July 2024YTD FY'26YTD FY'25Motorcycles400,615340,3901,674,5261,781,346Scooters49,14029,884142,299124,084Total449,755370,2741,816,8251,905,430Domestic412,397347,5351,715,0541,831,697Exports37,35822,739101,77173,733Subscribe to Auto Today Magazine- Ends
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Time of India
23 minutes ago
- Time of India
Hero MotoCorp Q1 profit rises to ₹1,126 cr on strong demand, EV push
Hero MotoCorp posted a net profit of ₹1,126 crore for the first quarter of FY26, edging past the ₹1,123 crore recorded in the same period last year. Revenue from operations stood at ₹9,579 crore, reflecting steady growth even as the company navigated a production pause during the quarter. Consolidated profit surged to ₹1,706 crore, boosted by a one-time gain of ₹722 crore from the dilution of its investment in associates. Operating performance remained stable, with EBITDA at ₹1,382 crore and margins holding firm at 14.4 per cent. Hero MotoCorp sold 13.67 lakh units of motorcycles and scooters in the quarter, driven by continued demand for its entry-level and deluxe offerings. The 125cc scooter segment saw strong traction, particularly with models like the Destini 125 and Xoom 125. EV sales Its electric brand, VIDA, gained further momentum following the launch of the EVOOTER VX2 and the introduction of a Battery-as-a-Service (BaaS) model. The brand also ran a high-visibility campaign during IPL 2025 to promote its swappable battery technology. Retail demand remained strong across the domestic market, with positive registration trends on the Vahan portal. The company continued expanding its premium retail footprint, crossing 100 Hero Premia outlets across India. Global markets also delivered growth, with new model launches in Sri Lanka including the Xoom 110, Hunk 160R 4V and Xtreme 125R. With the festive season ahead and a refreshed product portfolio across ICE and EVs, Hero MotoCorp said it is well-positioned to sustain its growth momentum through the rest of FY26.
Mint
23 minutes ago
- Mint
Promoter salaries in India show sharp divide—some earn crores, others take zero
Mumbai: Some of India's most prominent promoters are among the highest-paid executives in the country. Others take no salary at all. A Mint analysis of Nifty 50 companies reveals a stark divide in how promoters who actively run their firms pay themselves. While some draw hefty compensation packages, others forgo salaries entirely. Yet in both camps, most earn far more through dividends than through direct pay. At the top of the pay scale are three automotive industry veterans: Pawan Munjal of Hero MotoCorp, Rajiv Bajaj of Bajaj Auto, and Sidhartha Lal of Eicher Motors. Kalanithi Maran of Sun TV and KM Mammen of MRF Ltd also rank among the highest-paid promoters in India's listed space. On the opposite end are promoters such as Mukesh Ambani of Reliance Industries Ltd, Nandan Nilekani of Infosys Ltd, Deepinder Goyal of Eternal (formerly Zomato), Rahul Bhatia of InterGlobe Aviation, and Mohit Burman of Dabur. All have officially waived their salaries. TVS Motor managing director Venu Srinivasan draws a nominal remuneration of ₹1 crore. Promoter pay carry broader implications for corporate governance. In India, resolutions on promoter compensation are not classified as related-party transactions, allowing promoters to vote on their own pay. In companies with concentrated promoter ownership, this can lead to approval of high compensation packages with minimal resistance, raising potential conflicts of interest and concerns over transparency. Salaries, dividends, and governance Yet compensation in the form of salary tells only part of the story. Most of these individuals, whether or not they draw a salary, earn significantly more through dividends. Ambani, for instance, received ₹3,655 crore in dividend income from Reliance in FY24, while Infosys' Nilekani earned ₹429 crore. The exception is Eternal's Goyal, whose company has yet to declare any dividends. 'There are several traditional companies where promoter salaries are disproportionately high and much higher than peers. That has been a long-standing concern," said Shriram Subramanian, the managing director of proxy advisory firm InGovern and an expert on corporate governance. Subramanian said promoters should ideally draw compensation in line with the highest-paid executive in their company, or close to that level, with dividends forming the bulk of their income. He made an exception for new-age companies, where founders may hold relatively small stakes and lack sufficient dividend income. There, the founders may take market-driven salaries to support their lifestyles, he said. The salary of executive directors who are promoters or part of the promoter group at listed companies is governed by the Companies Act, 2013 and Sebi's listing regulations. If annual remuneration exceeds ₹5 crore or 2.5% of a company's net profits, whichever is higher, it requires shareholder approval via special resolution. Even with these checks in place, promoter executives continue to earn significantly more than professional managers. A 2024 Deloitte survey found that promoter CEOs earned a median ₹11.9 crore in FY24, compared to ₹8.9 crore for professional CEOs. The average for promoter CEOs was ₹16.7 crore, versus ₹13 crore for professionals. Shareholder pushback In some cases, shareholders have challenged excessive promoter compensation. In FY24, institutional shareholders opposed the reappointment of Bina Modi as managing director of Godfrey Phillips India, and Gautam Singhania as chairman and managing director of Raymond, after proxy firms flagged their compensation as excessive. Both resolutions passed due to the promoters' substantial shareholding. In FY21, shareholders rejected Eicher Motors' proposal to reappoint Sidhartha Lal as managing director with a 10% salary hike to ₹23.2 crore. At the time, the company's profits and revenues were falling, the median employee salary had increased just 1%, and Lal's pay was 340 times that figure. His compensation had risen at a compounded annual growth rate of 28% over three years. Eicher later revised Lal's pay, cutting the cap from 3% of company profits to 1.5%. That proposal was subsequently approved by shareholders. Independent governance expert Sharmila Gopinath said the concern isn't about promoters taking salaries, it's about scale and fairness. 'There's nothing wrong with a promoter taking a salary, but the concern arises when the quantum is significantly higher than what others in the sector are paid," Gopinath said. '(A)t some point, it starts to feel like exploitation, especially when the salary seems out of sync with the rest of the executive team." The disparities are stark. At Hero MotoCorp, the second-highest paid executive drew ₹14.1 crore, compared to promoter Pawan Munjal's remuneration of ₹109.4 crore. At Sun TV, the highest-paid non-family executive earned ₹1.8 crore, versus Maran's compensation. At Bajaj Auto, the non-family figure was ₹28.3 crore, at MRF ₹11.9 crore, and at Eicher Motors ₹19.5 crore. 'Promoter salaries should be performance-linked, benchmarked against peers, and evaluated in the context of long-term shareholder returns and not just short-term gains," Subramanian said. Some promoters have kept their salaries in line with professional management. These include Rishad Premji of Wipro, who drew ₹13.8 crore, and Abhishek Lodha of Lodha Developers, who was paid ₹4.9 crore, figures comparable to the highest-paid non-family executives at their respective firms.
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Business Standard
an hour ago
- Business Standard
Stock Market LIVE: GIFT Nifty down, Asia mixed; Trump imposes additional 25% tariffs on Indian goods
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