Hold Hero MotoCorp, target price Rs 2700: Axis Securities

Axis Securities has hold call on Hero MotoCorp with a target price of Rs 2700. The current market price of Hero MotoCorp Ltd. is Rs 2594.3.

Hero MotoCorp Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 51874.85 Crore) operating in Auto sector.

Hero MotoCorp 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 30-09-2022, the company reported a Consolidated Total Income of Rs 9252.22 Crore, up 8.81 % from last quarter Total Income of Rs 8503.07 Crore and up 6.39 % from last year same quarter Total Income of Rs 8696.80 Crore. Company reported net profit after tax of Rs 706.37 Crore in latest quarter.

The company’s top management includes Dr.Pawan Munjal, Ms.Camille Tang, Mr.Air Chief Marshal B S Dhanoa, Ms.Tina Trikha, Prof.Jagmohan Singh Raju, Mr.M Damodaran, Ms.Vasudha Dinodia, Mr.Pradeep Dinodia, Mr.Suman Kant Munjal, Mr.Vikram S Kasbekar, Mr.Rajnish Kumar. Company has BSR & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 20 Crore shares outstanding.



Promoter/FII Holdings
Promoters held 34.77 per cent stake in the company as of 30-Sep-2022, while FIIs owned 42.92 per cent, DIIs 12.55 per cent.