Hero MotoCorp: Easy YoY Comps to Lend Support in 2H; Pillion Ban Seen Offsetting Growth

Court Stays Ban on Pillion Riding in K'taka that Was Liable to Affect 500k Units Across 3 Companies

Budget Offers Boost to Rural Infra Spending & Hero MotoCorp's Topline

Equity Analyst, LightStream Research

Chacko Jacob

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

Record Sales in August Indicate Festive Season To Shine Bright for Hero<a href="https://www.smartkarma.com/entities/2391" target="_blank" data-smartkarma-citation="entities:2391:1">Hero Motocorp Ltd (HMCL IN)</a> posted its highest ever monthly sales in August 2017 as the country geared up for the festive season that lasts until the end of October. More importantly, the company had managed to consistently sell over 600,000 bikes for four consecutive months, consolidating its position as the biggest 2-wheeler manufacturer in the world in terms of volume. Our analysis shows that sales in August usually sets…

Record Sales in August Indicate Festive Season To Shine Bright for HeroHero Motocorp Ltd (HMCL IN) posted its highest ever monthly sales in August 2017 as the country geared up for the festive season that lasts until the end of October. More importantly, the company had managed to consistently sell over 600,000 bikes for four consecutive months, consolidating its position as the biggest 2-wheeler manufacturer in the world in terms of volume. Our analysis shows that sales in August usually sets…

Hero MotoCorp: Aside from Festive Season, No Medium-Term Trigger to Justify Expensive Multiples