Hero MotoCorp

Hero MotoCorp is engaged in the production and sale of motorized two wheelers up to 350cc engine capacity for both domestic and international markets.
  • TickerHEROMOTOCO
  • ISININE158A01026
  • ExchangeNational Stock Exchange of India
  • SectorAutomobiles & Parts
  • CountryIndia
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

HERO MOTOCORP sees an upgrade to Slightly Positive due to a better fun...

The general evaluation of HERO MOTOCORP (IN), a company active in the Automobiles industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 2 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 14, 2021, the closing price was INR 2,851.70 and its potential was estimated at INR 3,152.41.

Jinesh Gandhi
  • Jinesh Gandhi
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

MOSL: HERO MOTOCORP (Buy)- In-line results; reasonable performance in ...

HERO MOTOCORP: In-line results; reasonable performance in a tough environment (HMCL IN, Mkt Cap USD7.5b, CMP INR2772, TP INR3400, 23% Upside, Buy)   Positive outlook with upcoming festive season Hero MotoCorp (HMCL)’s performance was driven by efficient cost management despite high cost inflation and op. deleverage. While cost inflation is being managed reasonably well, demand recovery is the missing link in the story. We cut our FY22E/FY23E EPS by 5%/1%, factoring in delayed volume recovery. We maintain our Buy rating, with TP of INR3,400 (~15x Mar’23 S/A EPS + INR154/share for Hero Fi...

HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

Hero MotoCorp Ltd: 1 director sold

A director at Hero MotoCorp Ltd sold 2,736 shares at 3,045.283INR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...

Jinesh Gandhi
  • Jinesh Gandhi
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

MOSL: HERO MOTOCORP (Neutral)-Good performance in tough operating envi...

Hero Motocorp: Good performance in tough operating environment (HMCL IN, Mkt Cap USD6.8b, CMP INR2442, TP INR2690, 10% Upside, Neutral)   Cost cutting measures and benign commodity prices drive beat Hero Motocorp's (HMCL) strong operating performance was driven by lower commodity prices and cost-saving initiatives. BS6 led the volume weakness (op. lev) and rising RM costs should drag margins over the next 2-3 quarters. We marginally upgrade our EPS estimates, but maintain Neutral rating with TP of ~INR2,690 (~14x Dec'21E EPS + INR100/share for Hero FinCorp).  Above est.; Lower RM lea...

Deepak Jain
  • Deepak Jain
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

Hero MotoCorp's Q2FY20 results (Outperformer) - Gross margins surprise

Q2FY20 results Operating performance ahead: Hero MotoCorp’s Q2FY20 reported PAT of Rs 9.3bn (down 4%yoy) was ahead of estimates on account of higher than estimated realisations, better than expected gross margins and a lower tax rate. Gross margins improve: Revenues at Rs 75.7bn (-17% yoy) was ~4% ahead of estimates on higher realisations. Realisations (+3% qoq) benefited from a higher share of spare parts (9.5% of sales in Q2 versus 7.7% in Q1), modest price hikes (~45 bps) and a better product mix. On a sequential basis gross margins improved by 190bps due an increase in the company leve...

HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

HERO MOTOCORP sees an upgrade to Slightly Positive due to a better fun...

The general evaluation of HERO MOTOCORP (IN), a company active in the Automobiles industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 2 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 14, 2021, the closing price was INR 2,851.70 and its potential was estimated at INR 3,152.41.

Jinesh Gandhi
  • Jinesh Gandhi
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

MOSL: HERO MOTOCORP (Buy)- In-line results; reasonable performance in ...

HERO MOTOCORP: In-line results; reasonable performance in a tough environment (HMCL IN, Mkt Cap USD7.5b, CMP INR2772, TP INR3400, 23% Upside, Buy)   Positive outlook with upcoming festive season Hero MotoCorp (HMCL)’s performance was driven by efficient cost management despite high cost inflation and op. deleverage. While cost inflation is being managed reasonably well, demand recovery is the missing link in the story. We cut our FY22E/FY23E EPS by 5%/1%, factoring in delayed volume recovery. We maintain our Buy rating, with TP of INR3,400 (~15x Mar’23 S/A EPS + INR154/share for Hero Fi...

HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

Hero MotoCorp Ltd: 1 director sold

A director at Hero MotoCorp Ltd sold 2,736 shares at 3,045.283INR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...

Jinesh Gandhi
  • Jinesh Gandhi
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

MOSL: HERO MOTOCORP (Neutral)-Good performance in tough operating envi...

Hero Motocorp: Good performance in tough operating environment (HMCL IN, Mkt Cap USD6.8b, CMP INR2442, TP INR2690, 10% Upside, Neutral)   Cost cutting measures and benign commodity prices drive beat Hero Motocorp's (HMCL) strong operating performance was driven by lower commodity prices and cost-saving initiatives. BS6 led the volume weakness (op. lev) and rising RM costs should drag margins over the next 2-3 quarters. We marginally upgrade our EPS estimates, but maintain Neutral rating with TP of ~INR2,690 (~14x Dec'21E EPS + INR100/share for Hero FinCorp).  Above est.; Lower RM lea...

Deepak Jain
  • Deepak Jain
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

Hero MotoCorp's Q2FY20 results (Outperformer) - Gross margins surprise

Q2FY20 results Operating performance ahead: Hero MotoCorp’s Q2FY20 reported PAT of Rs 9.3bn (down 4%yoy) was ahead of estimates on account of higher than estimated realisations, better than expected gross margins and a lower tax rate. Gross margins improve: Revenues at Rs 75.7bn (-17% yoy) was ~4% ahead of estimates on higher realisations. Realisations (+3% qoq) benefited from a higher share of spare parts (9.5% of sales in Q2 versus 7.7% in Q1), modest price hikes (~45 bps) and a better product mix. On a sequential basis gross margins improved by 190bps due an increase in the company leve...

HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

HERO MOTOCORP sees an upgrade to Slightly Positive due to a better fun...

The general evaluation of HERO MOTOCORP (IN), a company active in the Automobiles industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 2 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 14, 2021, the closing price was INR 2,851.70 and its potential was estimated at INR 3,152.41.

Jinesh Gandhi
  • Jinesh Gandhi
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

MOSL: HERO MOTOCORP (Buy)- In-line results; reasonable performance in ...

HERO MOTOCORP: In-line results; reasonable performance in a tough environment (HMCL IN, Mkt Cap USD7.5b, CMP INR2772, TP INR3400, 23% Upside, Buy)   Positive outlook with upcoming festive season Hero MotoCorp (HMCL)’s performance was driven by efficient cost management despite high cost inflation and op. deleverage. While cost inflation is being managed reasonably well, demand recovery is the missing link in the story. We cut our FY22E/FY23E EPS by 5%/1%, factoring in delayed volume recovery. We maintain our Buy rating, with TP of INR3,400 (~15x Mar’23 S/A EPS + INR154/share for Hero Fi...

HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

Hero MotoCorp Ltd: 1 director sold

A director at Hero MotoCorp Ltd sold 2,736 shares at 3,045.283INR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...

Jinesh Gandhi
  • Jinesh Gandhi
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

MOSL: HERO MOTOCORP (Neutral)-Good performance in tough operating envi...

Hero Motocorp: Good performance in tough operating environment (HMCL IN, Mkt Cap USD6.8b, CMP INR2442, TP INR2690, 10% Upside, Neutral)   Cost cutting measures and benign commodity prices drive beat Hero Motocorp's (HMCL) strong operating performance was driven by lower commodity prices and cost-saving initiatives. BS6 led the volume weakness (op. lev) and rising RM costs should drag margins over the next 2-3 quarters. We marginally upgrade our EPS estimates, but maintain Neutral rating with TP of ~INR2,690 (~14x Dec'21E EPS + INR100/share for Hero FinCorp).  Above est.; Lower RM lea...

Deepak Jain
  • Deepak Jain
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

Hero MotoCorp's Q2FY20 results (Outperformer) - Gross margins surprise

Q2FY20 results Operating performance ahead: Hero MotoCorp’s Q2FY20 reported PAT of Rs 9.3bn (down 4%yoy) was ahead of estimates on account of higher than estimated realisations, better than expected gross margins and a lower tax rate. Gross margins improve: Revenues at Rs 75.7bn (-17% yoy) was ~4% ahead of estimates on higher realisations. Realisations (+3% qoq) benefited from a higher share of spare parts (9.5% of sales in Q2 versus 7.7% in Q1), modest price hikes (~45 bps) and a better product mix. On a sequential basis gross margins improved by 190bps due an increase in the company leve...

HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

HERO MOTOCORP sees an upgrade to Slightly Positive due to a better fun...

The general evaluation of HERO MOTOCORP (IN), a company active in the Automobiles industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 2 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 14, 2021, the closing price was INR 2,851.70 and its potential was estimated at INR 3,152.41.

Jinesh Gandhi
  • Jinesh Gandhi
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

MOSL: HERO MOTOCORP (Buy)- In-line results; reasonable performance in ...

HERO MOTOCORP: In-line results; reasonable performance in a tough environment (HMCL IN, Mkt Cap USD7.5b, CMP INR2772, TP INR3400, 23% Upside, Buy)   Positive outlook with upcoming festive season Hero MotoCorp (HMCL)’s performance was driven by efficient cost management despite high cost inflation and op. deleverage. While cost inflation is being managed reasonably well, demand recovery is the missing link in the story. We cut our FY22E/FY23E EPS by 5%/1%, factoring in delayed volume recovery. We maintain our Buy rating, with TP of INR3,400 (~15x Mar’23 S/A EPS + INR154/share for Hero Fi...

HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

Hero MotoCorp Ltd: 1 director sold

A director at Hero MotoCorp Ltd sold 2,736 shares at 3,045.283INR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...

Jinesh Gandhi
  • Jinesh Gandhi
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

MOSL: HERO MOTOCORP (Neutral)-Good performance in tough operating envi...

Hero Motocorp: Good performance in tough operating environment (HMCL IN, Mkt Cap USD6.8b, CMP INR2442, TP INR2690, 10% Upside, Neutral)   Cost cutting measures and benign commodity prices drive beat Hero Motocorp's (HMCL) strong operating performance was driven by lower commodity prices and cost-saving initiatives. BS6 led the volume weakness (op. lev) and rising RM costs should drag margins over the next 2-3 quarters. We marginally upgrade our EPS estimates, but maintain Neutral rating with TP of ~INR2,690 (~14x Dec'21E EPS + INR100/share for Hero FinCorp).  Above est.; Lower RM lea...

Deepak Jain
  • Deepak Jain
HEROMOTOCO HERO MOTOCORP (Automobiles & Parts)

Hero MotoCorp's Q2FY20 results (Outperformer) - Gross margins surprise

Q2FY20 results Operating performance ahead: Hero MotoCorp’s Q2FY20 reported PAT of Rs 9.3bn (down 4%yoy) was ahead of estimates on account of higher than estimated realisations, better than expected gross margins and a lower tax rate. Gross margins improve: Revenues at Rs 75.7bn (-17% yoy) was ~4% ahead of estimates on higher realisations. Realisations (+3% qoq) benefited from a higher share of spare parts (9.5% of sales in Q2 versus 7.7% in Q1), modest price hikes (~45 bps) and a better product mix. On a sequential basis gross margins improved by 190bps due an increase in the company leve...

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