Speaking about the cracker sales, Sunil Munjal, Joint MD of Hero MotoCorp told CNBC-TV18 that the automotive industry saw 16 percent growth in 2-wheelers over the last six months.
Two-wheeler major Hero MotoCorp witnessed a phenomenal Diwali by registering explosive sales on Dhanteras. The market leader sold over 2 lakh units on that day, which establishes the fact that the Indian economy is turning.
Speaking about the cracker sales and future of the two wheelers, Sunil Munjal, Joint MD of Hero MotoCorp told CNBC-TV18 that the automotive industry saw 16 percent growth in 2-wheelers over the last six months. He acknowledged it is heartening to see healthy demand of scooters after a long time. Despite all this, Munjal believes it is sensible to be cautious now as he expects consolidation over the next six months.
Justifying his fears and hopes, Munjal said the industry is cautiously optimistic based on actions taken by the government so far but high interest rate along with deficient monsoon are deterrents. Hence, at the moment, the expectation is that the industry will see a mixed bag but general improvement on the ground, acknowledged by global rating agencies, will ensure there will be upside.
Also read: Is Hero Motocorp best recovery play after record sales?
He admitted competition is heating up, but so is the share of the pie. "I think margin will not drop at this point despite competitive pressures," he said. The company is eyeing Sri Lanka, Latin American markets to increase its exports. "We are well positioned to take advantage of global and domestic opportunity," Munjal said.
Hero Motocorp stock price
On October 27, 2014, at 11:05 hrs Hero Motocorp was quoting at Rs 3106.00, down Rs 11.1, or 0.36 percent. The 52-week high of the share was Rs 3144.00 and the 52-week low was Rs 1907.00.
The company's trailing 12-month (TTM) EPS was at Rs 120.45 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 25.79. The latest book value of the company is Rs 280.43 per share. At current value, the price-to-book value of the company is 11.08.
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