External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.  

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>HMCL's Q3FY25 standalone revenue increased by 5% YoY, in-line with consensus while it was 2.2% higher than PLe.</li><li>The growth in revenue was mainly driven by 4.7% YoY expansion in its realizations as volumes remained flat.</li><li>Gross profit increased by 10% YoY while margin expanded by 156bps YoY to 34.2% (PLe: 32.9%), as a result of stable commodity cost, spare revenue and cost savings.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

HMCL's Q3FY25 standalone revenue increased by 5% YoY, in-line with consensus while it was 2.2% higher than PLe.The growth in revenue was mainly driven by 4.7% YoY expansion in its realizations as volumes remained flat.Gross profit increased by 10% YoY while margin expanded by 156bps YoY to 34.2% (PLe: 32.9%), as a result of stable commodity cost, spare revenue and cost savings.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hero Motocorp (HMCL IN) - Healthy Realizations Amid Sluggish Volume Growth