Subscribe for Hyundai Motor India IPO; KR Choksey

KR Choksey, has come out with its report on Hyundai Motor India Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on October 11 2024.

Broker Research

October 14, 2024 / 10:42 IST

IPO

KR Choksey, Hyundai Motor India Ltd

Hyundai Motors India Ltd., established in 1996, is a key player in the Indian automotive industry and a proud member of the Hyundai Motor Group, the third-largest automotive OEM worldwide. With a diverse portfolio of 13 passenger vehicle models across various segments, including sedans, hatchbacks, SUVs, and electric vehicles, HMIL is committed to delivering high-quality automotive solutions. The company has been India’s largest exporter of passenger vehicles since 2005, showcasing its strong international presence. With a focus on innovation and sustainability, HMIL continues to enhance its manufacturing capabilities and expand its market reach, contributing significantly to the growth of the Indian automobile sector.

Valuation and Outlook

The company is reasonably valued at a PE multiple of 26x based on its FY24 adjusted EPS and high revenue growth. We recommend a "SUBSCRIBE" rating for Hyundai Motors, reflecting its strong business model and strategic initiatives designed to support sustained long-term growth.

For all IPO report, click here