Name: Latest research reports of Hero MotoCorp Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Hero MotoCorp Ltd.
Rating: 4
Author: ICICI Securities Limited

Hero MotoCorp Ltd.

NSE: HEROMOTOCO | BSE: 500182 | ISIN: INE158A01026 | Industry: 2/3 Wheelers
| Strong Performer, Getting Expensive

5328.0000 -26.50 (-0.49%)

NSE Sep 26, 2025 15:31 PM

59.33% Gain from 52W Low

Volume: 689.9K

Hero MotoCorp Ltd.

07 Nov 2022

5328.00

-0.49%

Largely in-line EBITDA; time for margin to pick up

Accumulate: Hero MotoCorp Ltd.

Target

ICICI Securities Limited

Hero MotoCorp’s (HMCL) Q2FY23 EBITDA margin, at 11.4% (up 23bps QoQ), missed consensus estimate of 12.3% though revenue at ~Rs91bn, up 8% QoQ, was higher than consensus estimate of Rs88bn.

Hero MotoCorp Ltd. has gained 41.25% in the last 6 Months