09 Feb Hero MotoCorp stocks: Buy Hero MotoCorp, target price Rs 3212: LKP Securities
Hero MotoCorp Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 52248.66 Crore) operating in Auto sector.
Ltd. key Products/Revenue Segments include Motorised Two Wheelers Upto 350cc Engine Capacity, Spares (Two Wheelers), Other Operating Revenue, Sale of services and Duty Drawback for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company reported a Consolidated Total Income of Rs 8300.28 Crore, down -10.29 % from last quarter Total Income of Rs 9252.22 Crore and up 2.05 % from last year same quarter Total Income of Rs 8133.30 Crore. Company reported net profit after tax of Rs 638.21 Crore in latest quarter.
Investment Rationale
EV spending may impact margins in the initial period till we see an expansion of scale and volumes. It therefore maintains BUY rating on the stock with a rolled over FY25E target price of ₹3,212. Promoter/FII Holdings
Promoters held 34.77 per cent stake in the company as of 31-Dec-2022, while FIIs owned 27.48 per cent, DIIs 13.29 per cent.
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