BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Hero MotoCorp Ltd. reported a muted performance in Q4 FY22.
Blended average selling price for the quarter were at ~ Rs 62,426/unit (up 2.3% QoQ).
Ebitda in Q4 FY22 was at Rs 828 crore, down 13.8% QoQ with corresponding Ebitda margins at 11.2% (down 100 basis points QoQ).
Hero MotoCorp witnessed a 170 bps gross margins expansion on a QoQ basis. Benefits, however, were limited due to higher overhead costs.
Profit after tax for the quarter came in at Rs 627.1 crore, down 8.6% QoQ.
The company is on track to roll out its own electric vehicle product on July 1, 2022
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