Hero MotoCorp Ltd. share price target

Hero MotoCorp is India's leading two-wheeler manufacturer in terms of unit volume sales in a calendar year. It holds nearly 50% of the market share in the Indian motorcycle market. The company has 7 manufacturing facilities,...

We cut our FY22/23 EPS by 10.4%/7.2% to factor in weak 1Q performance and demand challenges, however upgrade to BUY' as the stock is trading cheap at 14.8x FY23 thus factoring in the operational challenges. We believe HMCL's increased focus on 1) premium products along with exports, 2) cost control...

Q1 revenue fell 37% QoQ on reduced volumes and ASP. High RM cost and lower operating efficiency further dampened PAT

corresponding quarter of the previous fiscal. The company improved its market share in the increase through the accelerated Leap-2 saving program. The company remains optimistic about demand over the coming months with the start of the festive season and also a healthy monsoon and encouraging farm activity. With last-mile retail opening up further, we expect numbers to be positive as we move forward. Hero MotoCorp aims to build further on its market...

segment as well with increasing market share yoy. In the executive bikes segment as well their 1 Year Avg. Dly Traded Volume (in lakh) bikes are performing well. In the premium bikes segment, the company attained market share of 5% on the back of X-treme 150 R and X-Pulse bikes. Additionally, in exports markets the company...

The season has begun well, with rainfall since June 1 to June 26 being 20% above normal. The India Meteorological Department (IMD) and private forecaster Skymet have forecast normal rainfall this year, which bodes well for the rural economy. Demand for consumer goods, two wheelers...

We recommend a BUY with TP of Rs. 3,300/share.

The company sold 15.68 lakh units of motorcycles & scooters in Q4 FY21 as against 13.23 lakh units sold in Q4 FY20, registering a growth of 18.5% on a YoY basis. The company, however, recorded 19.8% drop in consolidated net profit to Rs 2917.75 crore on...

Hero MotoCorp is India's leading two-wheeler manufacturer in terms of unit volume sales in a calendar year. It holds nearly 50% of the market share in the Indian motorcycle market. The company has 7 manufacturing facilities,...

We maintain our BUY rating on the stock and have revised our TP downwards on account of near term headwinds to Rs 3,300/share (from Rs 3,850/share earlier) valuing the stock at 16x (17x earlier) its FY23E EPS.