Hero MotoCorp Ltd
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]
- Market Cap ₹ 1,10,020 Cr.
- Current Price ₹ 5,502
- High / Low ₹ 6,246 / 2,960
- Stock P/E 27.1
- Book Value ₹ 885
- Dividend Yield 2.09 %
- ROCE 29.1 %
- ROE 22.0 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 75.9%
Cons
- The company has delivered a poor sales growth of 2.15% over past five years.
* 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
Sector: Automobile Industry: Automobiles - Motorcycles / Mopeds
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
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25,275 | 27,538 | 28,457 | 28,610 | 32,458 | 33,971 | 29,254 | 30,959 | 29,551 | 34,158 | 37,789 | 39,148 | |
21,722 | 24,018 | 24,033 | 24,025 | 27,124 | 28,946 | 25,184 | 26,902 | 26,295 | 30,060 | 32,554 | 33,678 | |
Operating Profit | 3,553 | 3,520 | 4,424 | 4,585 | 5,334 | 5,025 | 4,070 | 4,058 | 3,256 | 4,099 | 5,235 | 5,471 |
OPM % | 14% | 13% | 16% | 16% | 16% | 15% | 14% | 13% | 11% | 12% | 14% | 14% |
430 | 325 | 421 | 830 | 564 | 741 | 1,434 | 553 | 545 | 567 | 689 | 903 | |
Interest | 12 | 12 | 15 | 27 | 31 | 37 | 47 | 46 | 53 | 105 | 76 | 74 |
Depreciation | 1,107 | 540 | 443 | 502 | 575 | 624 | 846 | 715 | 690 | 697 | 757 | 783 |
Profit before tax | 2,864 | 3,292 | 4,387 | 4,885 | 5,292 | 5,104 | 4,611 | 3,849 | 3,058 | 3,864 | 5,090 | 5,516 |
Tax % | 26% | 29% | 29% | 27% | 30% | 32% | 21% | 24% | 24% | 28% | 26% | |
2,102 | 2,364 | 3,112 | 3,546 | 3,722 | 3,466 | 3,659 | 2,936 | 2,329 | 2,800 | 3,742 | 4,074 | |
EPS in Rs | 105.30 | 118.42 | 157.34 | 179.49 | 186.29 | 172.44 | 182.14 | 146.05 | 115.95 | 140.61 | 187.31 | 204.13 |
Dividend Payout % | 62% | 51% | 46% | 47% | 51% | 50% | 49% | 72% | 82% | 71% | 75% |
Compounded Sales Growth | |
---|---|
10 Years: | 4% |
5 Years: | 2% |
3 Years: | 7% |
TTM: | 13% |
Compounded Profit Growth | |
---|---|
10 Years: | 7% |
5 Years: | 2% |
3 Years: | 11% |
TTM: | 34% |
Stock Price CAGR | |
---|---|
10 Years: | 7% |
5 Years: | 16% |
3 Years: | 25% |
1 Year: | 86% |
Return on Equity | |
---|---|
10 Years: | 24% |
5 Years: | 19% |
3 Years: | 18% |
Last Year: | 22% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 |
Reserves | 5,583 | 6,500 | 8,794 | 10,276 | 11,932 | 13,080 | 14,366 | 15,376 | 15,807 | 16,616 | 17,659 |
284 | 100 | 232 | 261 | 228 | 312 | 453 | 584 | 605 | 568 | 606 | |
4,215 | 4,014 | 3,829 | 4,736 | 5,197 | 5,072 | 4,815 | 7,096 | 6,027 | 6,694 | 7,847 | |
Total Liabilities | 10,122 | 10,654 | 12,896 | 15,312 | 17,397 | 18,504 | 19,674 | 23,096 | 22,478 | 23,917 | 26,153 |
2,247 | 2,952 | 3,784 | 4,599 | 4,961 | 4,952 | 6,473 | 6,380 | 6,194 | 6,159 | 6,232 | |
CWIP | 855 | 719 | 653 | 581 | 355 | 573 | 391 | 495 | 517 | 454 | 484 |
Investments | 4,106 | 3,118 | 4,501 | 6,066 | 7,669 | 6,114 | 8,359 | 10,582 | 10,528 | 10,891 | 12,751 |
2,914 | 3,864 | 3,958 | 4,066 | 4,411 | 6,865 | 4,451 | 5,639 | 5,240 | 6,413 | 6,685 | |
Total Assets | 10,122 | 10,654 | 12,896 | 15,312 | 17,397 | 18,504 | 19,674 | 23,096 | 22,478 | 23,917 | 26,153 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|
2,963 | 2,186 | 3,722 | 4,007 | 4,017 | 1,032 | 5,518 | 4,110 | 2,104 | 2,614 | 4,923 | |
-1,616 | 31 | -2,300 | -1,972 | -1,858 | 1,298 | -2,819 | -2,289 | -222 | -421 | -1,828 | |
-1,414 | -2,131 | -1,475 | -2,036 | -2,102 | -2,252 | -2,602 | -1,852 | -1,975 | -2,147 | -2,717 | |
Net Cash Flow | -66 | 86 | -53 | -1 | 57 | 78 | 97 | -31 | -94 | 45 | 379 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 13 | 18 | 16 | 20 | 16 | 29 | 19 | 27 | 27 | 29 | 25 |
Inventory Days | 13 | 16 | 14 | 14 | 16 | 19 | 24 | 30 | 26 | 27 | 25 |
Days Payable | 46 | 50 | 51 | 62 | 56 | 54 | 58 | 88 | 76 | 73 | 80 |
Cash Conversion Cycle | -19 | -16 | -20 | -29 | -24 | -5 | -15 | -32 | -23 | -17 | -30 |
Working Capital Days | -33 | -14 | -11 | -17 | -14 | 8 | -7 | -17 | -9 | -4 | -13 |
ROCE % | 50% | 54% | 48% | 45% | 39% | 27% | 24% | 18% | 23% | 29% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
9h - Copies of the newspaper advertisement published regarding the issue of duplicate share certificates viz. Letter of Confirmation in lieu of original share certificates that are …
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Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
1 Oct - Intimation of loss of share certificate by shareholder.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1 Oct - Hero MotoCorp reports 6.37 lakh sales in September 2024.
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 28 Sep
- Closure of Trading Window 25 Sep
Annual reports
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Financial Year 2011
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Financial Year 2010
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Concalls
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Sep 2018Transcript PPT
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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]