June 16, 2024

Sharekhan’s analysis report on Hero MotoCorp

HMCL can construct up seller shares from Q4FY24 as inventories are regular on robust festive gross sales. A brand new premium product from the 440 CC platform would strengthen its premium picture.

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We preserve a Purchase with a revised value goal (PT) of Rs. 4579 on wholesome restoration in EBITDA margin, robust response to HD X 440, steady give attention to premiumisation, enlargement of its EV market and a possible revival in rural gross sales. Inventory trades at a P/E a number of of 16.1 and EV/EBITDA a number of of 10.2x its FY2026 estimates.

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Hero MotoCorp – 15 – 12 – 2023 – khan