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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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