ICICI Securities: Hero MotoCorp Q2 Review - Solid Demand Recovery Expectations Priced In
A pedestrian passes signage for Hero MotoCorp Ltd. in Gurugram, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

ICICI Securities: Hero MotoCorp Q2 Review - Solid Demand Recovery Expectations Priced In

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 Securities Report

Hero MotoCorp Ltd.’s Q2 FY21 operating numbers were in line with consensus estimates with Ebitda margin at 13.7% (down 81 basis points YoY).

Topline grew approximately 24% (tad below consensus) to approximately Rs 94 billion as average selling prices dropped 1.9% QoQ to 51,600 per unit.

The company witnessed demand recovery on the back of improving rural sentiment aided by strong monsoon and the same could sustain in the ongoing festive season.

Click on the attachment to read the full report:

ICICI Securities Hero Motocorp Q2FY21 Result Update.pdf

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