2025-10-15 04:07:41 pm | Source: Motilal Oswal Financial Services Ltd
Buy Hero MotoCorp Ltd for the Target Rs. 6,315 by Motilal Oswal Financial Services Ltd
* HMCL has made a smart comeback in 2Q, posting 11% YoY volume growth and strong 24% QoQ growth. Its EV mix has increased to 2.3% of total volumes from 1.1% YoY. Its exports mix has also increased to 7.7% from 4.2% YoY.
* Given healthy volumes and stable input costs, we expect margins to improve 70bp YoY to 15.2%.
* On the back of healthy volume growth and margin expansion, PAT is expected to grow 20% YoY in 2Q.
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