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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

<div class="content-highlight"><h2><strong>Growth</strong></h2></div><h2><strong>Low Base to Help Company Maintain Momentum from Record Sales in 2Q</strong></h2><p>On the back of strong consumer demand for Hero MotoCorp’s two-wheelers, the company recorded sales of over 600,000 units for six consecutive months. This also helped the company achieve its highest quarterly sales of just over 2m units in 2QFY2018. However, the strong sales volume did not warrant YoY growth in revenue as it slumped 1.4% to about INR 85b. It should be noted that YoY results are not strictly comparable now due…</p>

GrowthLow Base to Help Company Maintain Momentum from Record Sales in 2QOn the back of strong consumer demand for Hero MotoCorp’s two-wheelers, the company recorded sales of over 600,000 units for six consecutive months. This also helped the company achieve its highest quarterly sales of just over 2m units in 2QFY2018. However, the strong sales volume did not warrant YoY growth in revenue as it slumped 1.4% to about INR 85b. It should be noted that YoY results are not strictly comparable now due…

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

Hero Motocorp

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