Hero MotoCorp Ltd. share price target

Hero Motocorp (HMCL) Q2FY22 results were above our expectations on all counts due to higher sales and operating margins. In the medium term, Management remains positive on volume growth front due to a) rural economic recovery on account of well spread Monsoon across the country and b) opening up of distribution network in urban areas. The Company has lined up huge investments and new product launches in EV segment over next few years. To factor in changing business environment, we have revised our volume and PAT estimates downwards by 10.9%/9.8% and 16.4%/12.4% for FY22 and FY23 respectively. We have also introduced FY24 estimates wherein the...

HERO MOTOCORP LIMITED | Auto & Auto Components Healthy Q2, new launches to drive performance hereon Hero (HMCL) reported strong set of numbers in Q2 sequentially on low base, while the yoy drop...

HMCL's 2QFY22 EBITDA margin surprised positively at 12.6% and came in above our estimate of 11.3% aided by improved product mix, higher exports (+160% YoY in 1H), multiple price hikes over the year (~Rs 3,000) and cost savings led by leap program (+320bps YoY). Festive season sales were...

vehicles (EVs) as an integral part of its product portfolio. The company's Electric Vehicle (EV) project is in the advanced stages and the product will be manufactured at its plant in Chittoor, in the southern Indian state of Andhra Pradesh. The plant aptly called Garden Factory for its eco-friendly and sustainable manufacturing practices - will provide an integrated ecosystem for Battery Pack Manufacturing and Testing, Vehicle Assembly...

We maintain a BUY rating on the stock and revise our TP to Rs 3,200/share (Rs 3,400 earlier) to factor in the near-term headwinds for the 2W industry. We value the stock at 15x (16x earlier) FY23E EPS, implying a 19% upside from the CMP.

What should investors do? HMCL's share price has lagged the Nifty Auto Index in past five years, de-growing at 2% CAGR from ~| 2,935 levels in November 2016 We retain HOLD rating amid slower than anticipated volume recovery and...

Hopeful of demand recovery, led by wedding season and delayed harvesting Hero MotoCorp (HMCL)'s performance was driven by higher realization and efficient cost management, despite high cost of inflation. While cost...

We maintain a BUY rating on the stock and revise our TP to Rs 3,400/share as we value the stock at 16x its FY24E EPS. TP implies an upside potential of 16% from CMP.

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...