Sharekhan's research report on Hero MotoCorp
Hero MotoCorp Limited (HMCL) introduced second series of VIDA and entered into sub 1 lakh electric two wheeler segment. The company registered double-digit volume growth during the festive season, recovery in rural sales, and marriage season to take care retails in the near term.
Outlook
We retain our BUY rating on the stock with an unchanged PT of Rs. 6,057, driven by a healthy recovery in EBITDA margin, strong product response, a continuous focus on premiumisation, and expansion into the EV market. The stock trades at a P/E multiple of 16.7x/15.3x and EV/EBITDA multiple of 11.1x/10.0x its FY2026E/FY2027E..
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