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Hero MotoCorp Q3 Results Review - Expects Strong Double-Digit Growth In FY25: Nirmal Bang

Hero MotoCorp has declared an interim dividend of Rs 100/share, of which Rs 75 is normal and Rs 25 is a special dividend.

<div class="paragraphs"><p>Hero Motocorp Ltd.'s manufacturing facility. (Source: Company website)</p></div>
Hero Motocorp Ltd.'s manufacturing facility. (Source: Company website)

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Nirmal Bang Report

Hero MotoCorp Ltd.'s performance was in line with expectations, with revenue coming in 0.9% lower with estimate, Ebitda margin 10 basis points higher than estimate and adjusted profit after tax 1% higher than estimate.

Urban demand continues to be strong and rural demand too is showing signs of recovery. After a sluggish post festive phase, it has now seen strong demand uptick post mid-January. Overall growth has been led by the Premium segment.

We maintain 'Buy' on Hero MotoCorp with a target price of Rs 5,720, valuing it at ~20 times December 25E earning per share.

Click on the attachment to read the full report:

Nirmal Bang Hero Motocorp Q3 FY24 Result Review.pdf
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