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Entry Price

3,428.00

Target

4,000.00

Recommend Date

06-02-2021

Return

16.69 %
BUY

Date : 06-02-2021

Hero MotoCorp (HMCL) reported a healthy Q3FY21 performance. Total 2-W sales volume was at 18.45 lakh units, up 19.7% YoY. Consequent net sales were at | 9,776 crore, up 39.7% YoY amid 3% QoQ increase in ASPs to ~| 53,000/unit. EBITDA margins at 14.5% were up 80 bps QoQ tracking 60 bps gross margin expansion on a QoQ basis. PAT for the quarter came in at | 1084 crore, up 23.2% YoY. HMCL declared interim dividend of | 70 for FY21 (includes special dividend of | 5; record date – February 16, 2021).