Hero MotoCorp Ltd. share price target

Hero MotoCorp (HMCL) has reported marginally higher-than-expected results in 1QFY17 on account of better than expected expansion in gross margin. While Revenue came in 3.1% below estimate the reported PAT was 4.6% ahead of our estimate on the back of decent operating performance, which can be attributed to 205bps yoy expansion in...

Key highlights: Strong numbers with positive operating leverage and lower promotions aided an unanticipated margin improvement. Management remains optimistic on demand outlook in Q2FY17, as normal monsoons should lead revival in otherwise languishing rural sales.They increase their estimates by 4%/7% for FY17/18 on better margin performance and retain our Buy rating with a revised target price of Rs 3,750 (Rs 3,260 earlier);Phillip Capital now value Hero at 17x our FY18 EPS (16x earlier) – have upped the target multiple on strong volume outlook and decent margin performance.They retain their Buy rating with a revised target price of Rs 3,750.

went down qoq to 4.2% as a percentage of sales, which was flattish yoy. Other expenses to sales were down qoq to 10.8% from 12.4%, but were up from 9.9% yoy. Despite higher advertising and publicity expenses, EBITDA margins came in 140...

CMP: INR3,457 TP: INR3,666 (+6%) Downgrade to Neutral EBITDA margin in line at 16.6%, hits Motilal Oswal values your support in...

The impact of transitory competitive pressure in the Economy and Scooter segments is behind us, with the full benefit of recovery reflecting in FY17. EBITDA margins are likely to improve ~40bp over FY16-18E to ~15.9%, despite...

We met the management of Castrol India to understand in detail the company's business and strategy. Castrol is the largest private player in the lubricants business mainly catering to the automotive and industrial...

the extremely weak growth expectations in the exports markets on the back of African and Latam underperformance. In FY18 we expect Hero volumes to growth at 8.2% on some improvement in demand on new model launches and the impact of...

material benefits. This was majorly offset by higher than estimated other expenses (partlyduetohigherR&D;expenses) Key highlights: Strong numbers, in line with estimates commodity price benefits saw a...

We were impressed by Hero?s new R&D; centre, (Centre of Innovation and Technology ? CIT) in Rajasthan, with elaborate infrastructure being created to scale up the indigenous product development efforts. The company hopes to accelerate its new product development efforts to attain global leadership in two-wheelers.

ICICI Securities Ltd | Retail Equity Research Hero MotoCorp (HMCL) reported its Q3FY16 numbers that were higher than our estimates. Revenues came in at | 7,295 crore, up...