<table border=0 cellpadding=2 cellspacing=1 align=center width=100%>

<tr><td colspan=10 align=center width=100%><b><font size='2'>Company : Hero Moto

Corp Ltd<br>Industry : Automobiles - Motorcycles / Mopeds</font></b></td></tr>
<tr><td colspan=10 align=left width=100%><b><font size='2' color='red'>Company >
> Finance >> Balance Sheet Consolidated (Rs in Crs.)</font></b></td><br>
<table id="Baldetails" border="0" style="width:100%;">
<tr>
<td><table width='100%' align='center' cellspacing='0' cellpaddi
ng='0' border='0' bgcolor='#ffffff'><tr><td valign='top'><table width=100% clas
s=tablelines cellpadding=2 cellspacing=1 border=0><tr><td class=SubSbHdrLeft no
wrap width=20%>&nbsp;Year</td><td class=SubSbHdr width=10%>Mar 15&nbsp;</td><td
class=SubSbHdr width=10%>Mar 14&nbsp;</td></tr><tr><td class=ColmElement nowrap>
&nbsp;<b>&nbsp; SOURCES OF FUNDS :</b></td><td CLASS=ColmElementWht>&nbsp;</td
><td CLASS=ColmElementWht>&nbsp;</td></tr><tr><td class=ColmElement nowrap>&nbsp
;<a href=''#'' onclick="javascript:return linkpopup('SHARECAP','MAN','237','Shar
e Capital +','CBSC','con','r')" class=newlink>Share Capital +</a></td><td clas
s=ColmElementWht align='right'>39.94</td><td class=ColmElementWht align='right'>
39.94</td></tr><tr><td class=ColmElement nowrap>&nbsp;<a href=''#'' onclick="jav
ascript:return linkpopup('RESTOT','MAN','237','Reserves Total +','CBSC','con','
r')" class=newlink>Reserves Total +</a></td><td class=ColmElementWht align='rig
ht'>6,500.06</td><td class=ColmElementWht align='right'>5,582.70</td></tr><tr><t
d class=ColmElement nowrap>&nbsp;&nbsp; Equity Share Warrants</td><td class=Colm
ElementWht align='right'>0.00</td><td class=ColmElementWht align='right'>0.00</t
d></tr><tr><td class=ColmElement nowrap>&nbsp;&nbsp; Equity Application Money</t
d><td class=ColmElementWht align='right'>0.00</td><td class=ColmElementWht align
='right'>0.00</td></tr><tr><td class=ColmElement nowrap>&nbsp;<b>&nbsp; Total Sh
areholders Funds</b></td><td class=ColmElementWht align='right'><b>6,540.00</b><
/td><td class=ColmElementWht align='right'><b>5,622.64</b></td></tr><tr><td clas
s=ColmElement nowrap>&nbsp;&nbsp; Minority Interest</td><td class=ColmElementWht
align='right'>18.54</td><td class=ColmElementWht align='right'>0.85</td></tr><t
r><td class=ColmElement nowrap>&nbsp;<a href=''#'' onclick="javascript:return li
nkpopup('SLOAN','MAN','237','Secured Loans +','CBSC','con','r')" class=newlink>
Secured Loans +</a></td><td class=ColmElementWht align='right'>12.00</td><td cl
ass=ColmElementWht align='right'>0.00</td></tr><tr><td class=ColmElement nowrap>
&nbsp;<a href=''#'' onclick="javascript:return linkpopup('TOTOLOAN','MAN','237',
'Unsecured Loans +','CBSC','con','r')" class=newlink>Unsecured Loans +</a></td
><td class=ColmElementWht align='right'>88.00</td><td class=ColmElementWht align
='right'>284.26</td></tr><tr><td class=ColmElement nowrap>&nbsp;<b>&nbsp; Total
Debt</b></td><td class=ColmElementWht align='right'><b>100.00</b></td><td class=
ColmElementWht align='right'><b>284.26</b></td></tr><tr><td class=ColmElement no
wrap>&nbsp;&nbsp; Policy Holders Fund</td><td class=ColmElementWht align='right'
>0.00</td><td class=ColmElementWht align='right'>0.00</td></tr><tr><td class=Col
mElement nowrap>&nbsp;<a href=''#'' onclick="javascript:return linkpopup('OTHERL
IAB','MAN','237','Other Liabilities+','CBSC','con','r')" class=newlink>Other Lia
bilities+</a></td><td class=ColmElementWht align='right'>97.58</td><td class=Col
mElementWht align='right'>74.47</td></tr><tr><td class=ColmElement nowrap>&nbsp;
<b>&nbsp; Total Liabilities</b></td><td class=ColmElementWht align='right'><b>6,
756.12</b></td><td class=ColmElementWht align='right'><b>5,982.22</b></td></tr><
tr><td class=ColmElement nowrap>&nbsp;<b>&nbsp; APPLICATION OF FUNDS :</b></td><
td CLASS=ColmElementWht>&nbsp;</td><td CLASS=ColmElementWht>&nbsp;</td></tr><tr>
<td class=ColmElement nowrap>&nbsp;<a href=''#'' onclick="javascript:return link
popup('GBL','MAN','237','Gross Block +','CBSC','con','r')" class=newlink>Gross
Block +</a></td><td class=ColmElementWht align='right'>8,158.04</td><td class=C
olmElementWht align='right'>6,912.98</td></tr><tr><td class=ColmElement nowrap>&
nbsp;<a href=''#'' onclick="javascript:return linkpopup('ACCDEPN','MAN','237','L
ess: Accumulated Depreciation+','CBSC','con','r')" class=newlink>Less: Accumulat
ed Depreciation+</a></td><td class=ColmElementWht align='right'>5,205.76</td><td
class=ColmElementWht align='right'>4,665.69</td></tr><tr><td class=ColmElement
nowrap>&nbsp;&nbsp; Less: Impairment of Assets</td><td class=ColmElementWht alig
n='right'>0.00</td><td class=ColmElementWht align='right'>0.00</td></tr><tr><td

class=ColmElement nowrap>&nbsp;<a href=''#'' onclick="javascript:return linkpopu

p('GBL-ACCDEPN-IMPARBS','MAN','237','Net Block+','CBSC','con','r')" class=newlin
k>Net Block+</a></td><td class=ColmElementWht align='right'>2,952.28</td><td cla
ss=ColmElementWht align='right'>2,247.29</td></tr><tr><td class=ColmElement nowr
ap>&nbsp;&nbsp; Lease Adjustment</td><td class=ColmElementWht align='right'>0.00
</td><td class=ColmElementWht align='right'>0.00</td></tr><tr><td class=ColmElem
ent nowrap>&nbsp;<a href=''#'' onclick="javascript:return linkpopup('CWIP','MAN'
,'237','Capital Work in Progress+','CBSC','con','r')" class=newlink>Capital Work
in Progress+</a></td><td class=ColmElementWht align='right'>719.20</td><td clas
s=ColmElementWht align='right'>854.74</td></tr><tr><td class=ColmElement nowrap>
&nbsp;&nbsp; Producing Properties</td><td class=ColmElementWht align='right'>0.0
0</td><td class=ColmElementWht align='right'>0.00</td></tr><tr><td class=ColmEle
ment nowrap>&nbsp;<a href=''#'' onclick="javascript:return linkpopup('INVEST','M
AN','237','Investments +','CBSC','con','r')" class=newlink>Investments +</a></
td><td class=ColmElementWht align='right'>3,118.50</td><td class=ColmElementWht
align='right'>4,105.94</td></tr><tr><td class=ColmElement nowrap>&nbsp;&nbsp; Cu
rrent Assets, Loans & Advances</td><td CLASS=ColmElementWht>&nbsp;</td><td CLASS
=ColmElementWht>&nbsp;</td></tr><tr><td class=ColmElement nowrap>&nbsp;<a href='
'#'' onclick="javascript:return linkpopup('INVTOTAL','MAN','237','Inventories +
','CBSC','con','r')" class=newlink>Inventories +</a></td><td class=ColmElementW
ht align='right'>861.39</td><td class=ColmElementWht align='right'>669.55</td></
tr><tr><td class=ColmElement nowrap>&nbsp;<a href=''#'' onclick="javascript:retu
rn linkpopup('SDB','MAN','237','Sundry Debtors +','CBSC','con','r')" class=newl
ink>Sundry Debtors +</a></td><td class=ColmElementWht align='right'>1,371.82</t
d><td class=ColmElementWht align='right'>920.58</td></tr><tr><td class=ColmEleme
nt nowrap>&nbsp;<a href=''#'' onclick="javascript:return linkpopup('CASH','MAN',
'237','Cash and Bank+','CBSC','con','r')" class=newlink>Cash and Bank+</a></td><
td class=ColmElementWht align='right'>215.78</td><td class=ColmElementWht align=
'right'>119.83</td></tr><tr><td class=ColmElement nowrap>&nbsp;<a href=''#'' onc
lick="javascript:return linkpopup('LOANS-DTAXCA','MAN','237','Loans and Advances
+','CBSC','con','r')" class=newlink>Loans and Advances +</a></td><td class=Co
lmElementWht align='right'>633.38</td><td class=ColmElementWht align='right'>572
.43</td></tr><tr><td class=ColmElement nowrap>&nbsp;&nbsp; Total Current Assets<
/td><td class=ColmElementWht align='right'>3,082.37</td><td class=ColmElementWht
align='right'>2,282.39</td></tr><tr><td class=ColmElement nowrap>&nbsp;&nbsp; L
ess : Current Liabilities and Provisions</td><td CLASS=ColmElementWht>&nbsp;</td
><td CLASS=ColmElementWht>&nbsp;</td></tr><tr><td class=ColmElement nowrap>&nbsp
;<a href=''#'' onclick="javascript:return linkpopup('SDC-DTAXCL','MAN','237','Cu
rrent Liabilities +','CBSC','con','r')" class=newlink>Current Liabilities +</a
></td><td class=ColmElementWht align='right'>3,163.83</td><td class=ColmElementW
ht align='right'>2,594.94</td></tr><tr><td class=ColmElement nowrap>&nbsp;<a hre
f=''#'' onclick="javascript:return linkpopup('OLIAB','MAN','237','Provisions +'
,'CBSC','con','r')" class=newlink>Provisions +</a></td><td class=ColmElementWht
align='right'>734.40</td><td class=ColmElementWht align='right'>1,544.42</td></
tr><tr><td class=ColmElement nowrap>&nbsp;&nbsp; Total Current Liabilities</td><
td class=ColmElementWht align='right'>3,898.23</td><td class=ColmElementWht alig
n='right'>4,139.36</td></tr><tr><td class=ColmElement nowrap>&nbsp;&nbsp; Net Cu
rrent Assets</td><td class=ColmElementWht align='right'>-815.86</td><td class=Co
lmElementWht align='right'>-1,856.97</td></tr><tr><td class=ColmElement nowrap>&
nbsp;<a href=''#'' onclick="javascript:return linkpopup('MEXP','MAN','237','Misc
ellaneous Expenses not written off +','CBSC','con','r')" class=newlink>Miscellan
eous Expenses not written off +</a></td><td class=ColmElementWht align='right'>0
.00</td><td class=ColmElementWht align='right'>0.00</td></tr><tr><td class=ColmE
lement nowrap>&nbsp;&nbsp; Deferred Tax Assets</td><td class=ColmElementWht alig
n='right'>79.85</td><td class=ColmElementWht align='right'>110.78</td></tr><tr><
td class=ColmElement nowrap>&nbsp;&nbsp; Deferred Tax Liability</td><td class=Co
lmElementWht align='right'>6.31</td><td class=ColmElementWht align='right'>4.80<
/td></tr><tr><td class=ColmElement nowrap>&nbsp;&nbsp; Net Deferred Tax</td><td
class=ColmElementWht align='right'>73.54</td><td class=ColmElementWht align='rig
ht'>105.98</td></tr><tr><td class=ColmElement nowrap>&nbsp;<a href=''#'' onclick

="javascript:return linkpopup('OTHERASSET','MAN','237','Other Assets+','CBSC','c

on','r')" class=newlink>Other Assets+</a></td><td class=ColmElementWht align='ri
ght'>708.46</td><td class=ColmElementWht align='right'>525.24</td></tr><tr><td c
lass=ColmElement nowrap>&nbsp;<b>&nbsp; Total Assets</b></td><td class=ColmEleme
ntWht align='right'><b>6,756.12</b></td><td class=ColmElementWht align='right'><
b>5,982.22</b></td></tr><tr><td class=ColmElement nowrap>&nbsp;<a href=''#'' onc
lick="javascript:return linkpopup('CONLIAB','MAN','237','Contingent Liabilities+
','CBSC','con','r')" class=newlink>Contingent Liabilities+</a></td><td class=Col
mElementWht align='right'>4.09</td><td class=ColmElementWht align='right'>29.24<
/td></tr></TABLE></td></tr></TABLE></td>
</tr>
</table></tr>
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