Hero MotoCorp Ltd

Hero Motocorp Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Hero MotoCorp Ltd

₹ 5,322 -0.39%
08 May - close price
heromotocorp.com BSE: 500182 NSE: HEROMOTOCO
About

Hero Moto Corp earlier also known as “Hero Honda” is one of India’s first motorcycle manufacturers.
The company started in 1984 as a Technological collaboration with Honda, Japan. Before this collaboration, Hero was selling Cycles under the brand name, Hero Cycles.
In 2011, Honda group sold its 26% stake in the company to the Munjals (promoters) and ended the JV. Post the termination of JV, the name of the company was changed to Hero Motocorp. [1] [2]

Key Points

Products & Brands
Premium Segment : Karizma XMR, H-D X440, MAVRICK 440. It has 7 models in 2024. It has Sports, Adventure, Roadster bikes.[1]. The Premium segment contributed ~25% to the revenue mix Q3FY24.[2]

Website BSE NSE
  • Market Cap ₹ 1,06,489 Cr.
  • Current Price ₹ 5,322
  • High / Low ₹ 6,390 / 3,907
  • Stock P/E 19.9
  • Book Value ₹ 1,078
  • Dividend Yield 3.10 %
  • ROCE 34.1 %
  • ROE 25.9 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.10%.
  • Company has been maintaining a healthy dividend payout of 70.8%
  • Debtor days have improved from 26.5 to 20.2 days.

Cons

  • The company has delivered a poor sales growth of 8.74% over past five years.
  • Working capital days have increased from 13.5 days to 65.2 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Automobile and Auto Components Automobiles 2/3 Wheelers

Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 Nifty 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
8,307 8,767 9,445 9,724 9,519 10,144 10,463 10,211 9,939 9,579 12,126 12,328 12,797
7,224 7,561 8,117 8,362 8,160 8,684 8,947 8,734 8,523 8,197 10,303 10,518 10,941
Operating Profit 1,083 1,206 1,328 1,362 1,359 1,460 1,516 1,476 1,416 1,382 1,823 1,810 1,856
OPM % 13% 14% 14% 14% 14% 14% 14% 14% 14% 14% 15% 15% 14%
237 62 248 242 180 232 283 318 224 304 233 177 209
Interest 5 5 5 5 5 5 5 5 5 6 6 6 6
Depreciation 169 169 175 183 185 193 194 197 192 193 197 204 204
Profit before tax 1,147 1,095 1,397 1,417 1,350 1,493 1,600 1,592 1,442 1,487 1,854 1,777 1,855
Tax % 25% 25% 25% 24% 25% 25% 25% 24% 25% 24% 25% 24% 24%
859 825 1,054 1,073 1,016 1,123 1,204 1,203 1,081 1,126 1,393 1,349 1,401
EPS in Rs 42.98 41.27 52.73 53.70 50.82 56.15 60.18 60.14 54.04 56.28 69.62 67.40 70.03
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
27,585 28,443 28,500 32,230 33,651 28,836 30,801 29,245 33,806 37,456 40,756 46,830
24,020 23,962 23,857 26,941 28,714 24,869 26,777 25,866 29,815 32,194 34,885 39,959
Operating Profit 3,565 4,481 4,644 5,289 4,937 3,967 4,024 3,379 3,991 5,261 5,872 6,871
OPM % 13% 16% 16% 16% 15% 14% 13% 12% 12% 14% 14% 15%
315 396 513 517 685 1,447 575 547 560 727 1,052 922
Interest 11 5 6 6 9 22 22 26 20 18 20 23
Depreciation 540 438 493 556 602 818 677 650 657 711 776 798
Profit before tax 3,329 4,435 4,658 5,244 5,011 4,574 3,900 3,250 3,875 5,258 6,128 6,972
Tax % 28% 29% 28% 30% 32% 21% 24% 24% 25% 25% 25% 24%
2,386 3,160 3,377 3,697 3,385 3,633 2,964 2,473 2,911 3,968 4,610 5,268
EPS in Rs 119.47 158.25 169.11 185.14 169.47 181.90 148.37 123.77 145.65 198.48 230.49 263.29
Dividend Payout % 50% 46% 50% 51% 51% 49% 71% 77% 69% 71% 72% 70%
Compounded Sales Growth
10 Years: 5%
5 Years: 9%
3 Years: 11%
TTM: 15%
Compounded Profit Growth
10 Years: 6%
5 Years: 14%
3 Years: 24%
TTM: 19%
Stock Price CAGR
10 Years: 6%
5 Years: 13%
3 Years: 27%
1 Year: 38%
Return on Equity
10 Years: 23%
5 Years: 22%
3 Years: 24%
Last Year: 26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 40 40 40 40 40 40 40 40 40 40 40 40
Reserves 6,501 8,794 10,071 11,729 12,817 14,096 15,158 15,743 16,665 17,946 19,767 21,538
0 0 0 0 0 150 150 168 156 138 163 190
3,980 3,738 4,583 4,970 4,784 4,463 6,813 5,763 6,402 7,448 7,950 10,477
Total Liabilities 10,522 12,573 14,694 16,739 17,641 18,749 22,161 21,714 23,263 25,572 27,920 32,244
2,913 3,584 4,396 4,655 4,619 6,117 5,988 5,806 5,761 5,834 5,901 6,485
CWIP 713 605 465 318 542 341 437 458 464 481 492 225
Investments 3,154 4,581 5,890 7,525 5,969 8,223 10,500 10,652 11,010 13,086 14,910 19,397
3,742 3,802 3,944 4,241 6,512 4,068 5,236 4,797 6,028 6,171 6,617 6,138
Total Assets 10,522 12,573 14,694 16,739 17,641 18,749 22,161 21,714 23,263 25,572 27,920 32,244

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,250 3,849 4,028 3,981 979 5,410 4,173 2,020 2,579 4,907 4,182 8,315
12 -2,206 -1,944 -1,915 1,321 -2,883 -2,210 -152 -469 -1,802 -1,586 -4,505
-2,231 -1,687 -2,096 -2,047 -2,294 -2,420 -1,941 -1,939 -2,041 -2,733 -2,847 -3,567
Net Cash Flow 32 -44 -12 19 6 107 21 -71 70 372 -251 243
Free Cash Flow 1,097 2,389 2,879 3,182 61 4,052 3,663 1,496 2,012 4,196 3,372 7,321
CFO/OP 91% 111% 112% 104% 61% 150% 128% 83% 86% 118% 97% 137%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 18 16 20 17 31 20 29 29 30 26 33 20
Inventory Days 15 13 13 14 17 20 25 20 22 21 20 21
Days Payable 50 50 62 55 53 56 87 75 72 79 75 87
Cash Conversion Cycle -16 -21 -30 -24 -5 -16 -34 -26 -20 -32 -22 -45
Working Capital Days -14 -12 -17 -14 7 -8 -19 -12 -6 -16 -9 65
ROCE % 51% 55% 48% 46% 40% 28% 25% 20% 23% 30% 31% 34%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Global Annual Installed Capacity
Million Units

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Total Sales Volumes (Domestic + Exports)
Million Units
Domestic Motorcycle Market Share
%
Global Customer Touchpoints
Number
Overall Domestic 2W Market Share
%
R&D Expenditure (Percentage of Turnover)
%

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
34.78% 34.76% 34.76% 34.76% 34.76% 34.75% 34.75% 34.74% 34.74% 34.73% 34.73% 34.73%
28.10% 26.80% 28.34% 28.93% 29.87% 29.59% 27.95% 27.43% 27.05% 28.76% 29.43% 31.15%
27.28% 29.14% 28.09% 27.76% 26.87% 26.94% 27.70% 27.89% 27.77% 26.32% 26.28% 24.69%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.05% 0.08% 0.08% 0.08%
9.85% 9.30% 8.80% 8.55% 8.49% 8.72% 9.58% 9.91% 10.39% 10.11% 9.48% 9.34%
No. of Shareholders 3,13,1043,01,4982,80,5472,92,8283,00,1467,61,2598,74,6589,47,4078,92,6228,97,0338,72,4998,95,516

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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