Dolat Capital: Hero MotoCorp Hinges On Rural Recovery
A Hero MotoCorp motorcycle is displayed at Pashupati Motors dealership in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)  

Dolat Capital: Hero MotoCorp Hinges On Rural Recovery

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.

Dolat Capital Report

Hero MotoCorp Ltd. Q2 FY21 numbers were broadly in line estimates. Ebitda increased by 17% YoY to Rs12.8 billion with margin at 13.7% (down 81 basis points YoY).

Increase in raw material prices was offset by cost control measures and better operating leverage.

The management sounded positive on domestic sales outlook with demand back to pre Covid-19 level, expecting momentum to continue into the festive season.

Rural demand continues to be strong while semi and urban demand is catching up well.

Click on the attachment to read the full report:

Dolat Capital Hero Motocorp Q2FY21 Result Update.pdf


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