Hero MotoCorp Q4 Review - Cost Savings, Price Hikes To Offset Raw Material Pressure: Prabhudas Lilladher

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Prabhudas Lilladher Report

Hero MotoCorp Ltd.'s Q4 FY21 results beat our estimates as Ebitda/adjusted profit after tax were better by 6-12%.

This was led by higher gross margins at 29.6% (our estimate 28.9%) and lower other expenses at Rs 8.7 billion (our estimate Rs 9.1 billio).

We believe headwinds such as weak demand sentiment and raw material would get mitigated by the company's increased focus on cost control and price hikes.

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