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Hero MotoCorp: Q1 disappoints, but there's hope of a better second half

Volumes and margins are expected to improve on the back of a good monsoon and decline in raw material costs, respectively

Hero Motocorp
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Hero MotoCorp.

Devangshu Datta
The 2-wheeler market industry has been reeling from the combination of supply chain issues, high raw material costs and weak demand. While demand continues to look weak going by sales data from July, the Q1 (April-June quarter) results indicate some degree of stability on the supply chain front with chip sourcing becoming less difficult and the costs of RM (raw materials) may also have leveled off as metal prices corrected through Q1.

Hero MotoCorp saw sequential rise in revenue of 13 per cent to Rs 8,393 crore, which is marginally higher than pre-covid levels of 2019-20 (ignoring inflation) while EBITDA