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Nirmal Bang Report
We recently hosted the management of Hero MotoCorp Ltd. as part of our 'Investors Conference Week' to gain insights into the current business environment, demand trends and outlook, opportunities, upcoming OBD2 norms and margin tailwinds. Following are the key takeaways from the meeting-
Hero MotoCorp saw strong demand uptick during the festive season with retails growing at 20% YoY against expectation of double-digit growth. The overall demand sentiments continued to remain upbeat in Nov-22 as well.
The management highlighted that rural demand was affected by deferment of replacement buying amid muted sentiments and a sharp increase in the cost of ownership. The company expects replacement demand to recover going ahead.
Hero MotoCorp expects improvement in cash flows on the back of rising crop yields in the Rabi season while election-related boost to the rural economy will lead to a demand uptick in the rural markets, lifting mainly the entry level segment.
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