Hold Hero Motocorp; target of Rs 3632: Arihant Capital

Arihant Capital's research report onHero Motocorp

Hero Motocorp Ltd. revenue declined by 6.4% to Rs 6,915 cr from Rs 7,385Cr in the corresponding quarter of previous year. During quarter, company has sold 16.21 lakh units, declined by 5.8% on YoY basis and inclined by 10.1% on Q-o-Q basis.

Outlook

The stock at Rs 3,322 trades at 14.7x our estimated FY19E EPS of Rs 227 per share. We assign a price target of Rs 3,632 at 16x FY19 EPS, and have “HOLD” rating on the stock.

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