Hero MotoCorp Limited — Q2 FY24
Hero MotoCorp reported Q2 FY24 revenue of INR 9,445 crore and EBITDA margin of 14.1%, up 260 bps YoY, driven by commodity cost recovery and operating leverage.
bullish
high
✓ Verified against BSE filing
Indian management teams deliver on roughly 12% of specific earnings-call promises. A low score does not indicate dishonesty — it reflects how aspirational forward guidance typically is.
Q1 FY24
ICE margin tramline of 14%-16% maintained
Management reiterated the long-term ICE margin range of 14%-16%, with current margins back to pre-COVID levels.
Missed
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
heuristic_v1
Q1 FY24
EV business drag of ~100 bps on margins
The EV business (Vida) is expected to impact overall margins by approximately 100 basis points as it scales.
Missed
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
heuristic_v1
Q1 FY24
Double-digit industry growth expected ahead of festive season
Management expects double-digit growth for the two-wheeler industry driven by government capex, easing inflation, and good monsoons.
Missed
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
heuristic_v1
Q1 FY24
100 EV cities by December 2023
Vida will expand to 100 cities well before December end; currently present in 36 cities.
Missed
Current-quarter commentary contains related risk or weakness, so the promise appears not to have been delivered yet.
heuristic_v1