First Cut-Hero Motocorp Ltd
Rajesh Desai
Dear Sir/Madam,
Hero Motocorp Ltd announced its Q2 FY14 results on 23rd October 2013. The company’s Net sales increased by 10.39% on YoY basis but declined by 7.03% on QoQ basis. EBITDA increased by 15.78% on YoY basis. EBITDA Margin of the company increased from 13.86% to 14.54% on YoY basis.PAT declined by 12.24% On QoQ basis but increased 9.27% on YoY basis.
Particulars | Consensus Est |
Actual |
Var (%) |
|
Revenues |
5631 |
5726 |
1.7% |
|
EBITDA |
754 |
833 |
10.5% |
|
PAT |
467 |
481 |
3.1% |
|
EPS |
23.26 |
24.11 |
3.6% |
Hero MotoCorpltd - Quarterly -Y-O-Y(%) - Standalone - [INR-Crore] |
Half Yearly | |||||||
|
DESCRIPTION |
Q2FY14 |
Q2FY13 |
Q1FY14 |
YOY |
QOQ |
H2 FY14 |
H2 FY13 |
% change |
|
Revenues |
5,726 |
5,187 |
6,160 |
10.39% |
-7.03% |
11,886 |
12,333 |
-3.63% |
|
Total Expenditure |
4,894 |
4,468 |
5,244 |
9.52% |
-6.69% |
10,138 |
10,705 |
|
|
EBITDA |
833 |
719 |
915 |
15.78% |
-9.02% |
1,748 |
1,628 |
7.34% |
|
EBIDTA Margins |
14.54% |
13.86% |
14.86% |
|
|
14.71% |
13.20% |
|
|
Other Income |
115.5 |
99.3 |
112.3 |
|
| 228 |
195 |
|
|
Operating Profit |
948.2 |
818.5 |
1027.5 |
|
| 1976 |
1823 |
|
|
Interest |
3.0 |
3.0 |
3.0 |
|
| 6 |
6 |
|
|
Exceptional Items |
0.0 |
0.0 |
0.0 |
|
| 0 |
0 |
|
|
Extraordinary Items |
0.0 |
0.0 |
0.0 |
|
| 0 |
0 |
|
|
PBDT |
945.2 |
815.6 |
1024.5 |
|
| 1970 |
1817 |
|
|
Depreciation |
286.9 |
289.5 |
274.4 |
|
| 561 |
549 |
|
|
PBT |
658.3 |
526.1 |
750.2 |
|
| 1408 |
1268 |
|
|
Tax |
176.9 |
85.5 |
201.6 |
|
| 378 |
206 |
|
|
Profit After Tax |
481 |
441 |
549 |
9.27% |
-12.24% |
1030 |
1062 |
-3.03% |
|
PAT Margins |
8.41% |
8.49% |
8.91% |
|
|
8.67% |
8.61% |
|
|
|
|
|
| |||||
|
Equity Capital |
39.94 |
39.94 |
39.94 |
|
| 39.94 |
39.94 |
|
|
Face Value (In Rs) |
2.00 |
2.00 |
2.00 |
|
| 2.00 |
2.00 |
|
|
No of Shares |
19.97 |
19.97 |
19.97 |
|
| 19.97 |
19.97 |
|
|
|
|
|
| |||||
|
Adj EPS |
24.11 |
22.06 |
27.47 |
9.27% |
-12.24% |
51.58 |
53.19 |
-3.03% |
Quarterly volume | |||||
Volume (in units) | 2QFY14 | 2QFY13 | 1QFY14 | YoY Changes(%) | QoQ Changes(%) |
Hero MotoCorp | 1,416,276 |
1,332,805 |
1,559,282 |
6.3 |
-9.2 |
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
--
CA. Rajesh Desai