Honda India Power Products Ltd

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Honda India Power Products Ltd

₹ 1,863 -2.74%
28 Sep - close price
hondaindiapower.com BSE: 522064 NSE: HONDAPOWER
About

Honda India Power Products Ltd is engaged in manufacturing and marketing of portable gensets, water pumps, general purpose engines, lawn mowers, brush cutters and tillers.[1]

In July 2020, the company changed its name from 'Honda Siel power Products Ltd' to 'Honda India Power Products Ltd'.[2]

Key Points

Product Portfolio
The company sells Generators which provide backup and portable power for mobile service vans, food trucks, camping, and drone charging. The 1.5–4 inch pumps serve irrigation; engines power farm, construction, and inland-waterway equipment. Other products include brush cutters for de-weeding /harvesting, power tillers, lawn mowers and marine engines. [1] [2]

Website BSE NSE
  • Market Cap ₹ 1,891 Cr.
  • Current Price ₹ 1,863
  • High / Low ₹ 2,824 / 1,817
  • Stock P/E 25.9
  • Book Value ₹ 792
  • Dividend Yield 6.79 %
  • ROCE 11.5 %
  • ROE 8.61 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 6.79%.
  • Company has been maintaining a healthy dividend payout of 27.6%

Cons

  • The company has delivered a poor sales growth of -1.62% over past five years.
  • Company has a low return on equity of 9.80% over last 3 years.
  • Debtor days have increased from 46.5 to 66.5 days.
  • Working capital days have increased from 88.0 days to 198 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

Industrials Capital Goods Industrial Manufacturing Industrial Products

Part of BSE 1000 BSE Industrials

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Quarterly Results

Figures in Rs. Crores

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
210 285 263 231 144 177 204 269 155 176 270 265 189
190 249 230 221 128 170 183 225 146 164 238 235 175
Operating Profit 20 35 33 10 16 7 21 43 8 11 32 30 14
OPM % 10% 12% 13% 4.5% 11% 4.0% 10% 16% 5% 6% 12% 11% 8%
8 12 10 16 11 10 10 11 10 9 -3 11 7
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 5 5 5 5 5 5 5 6 6 6 6 6 7
Profit before tax 23 42 38 21 22 11 26 49 13 15 23 35 15
Tax % 26% 26% 25% 24% 26% 26% 26% 26% 26% 26% 27% 23% 26%
17 31 28 16 16 9 19 36 9 11 17 27 11
EPS in Rs 16.66 30.75 27.92 15.58 15.92 8.42 18.82 35.65 9.35 11.01 16.43 26.54 10.94
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
631 673 702 768 816 849 939 1,156 1,246 989 794 865 900
560 584 606 665 725 756 866 1,054 1,111 890 706 784 812
Operating Profit 70 88 96 103 91 93 73 103 135 99 88 82 88
OPM % 11% 13% 14% 13% 11% 11% 8% 9% 11% 10% 11% 9% 10%
11 11 16 15 14 20 15 17 2 45 42 27 25
Interest 1 1 1 1 1 1 1 1 1 1 1 0 0
Depreciation 21 24 23 23 21 22 20 19 21 20 22 23 24
Profit before tax 59 75 88 94 83 90 66 100 115 124 108 86 88
Tax % 34% 35% 34% 35% 35% 26% 26% 26% 26% 25% 26% 25%
39 49 58 61 54 67 49 75 85 92 80 64 66
EPS in Rs 38.08 48.14 56.96 60.54 53.39 65.58 47.98 73.48 83.89 90.91 78.81 63.33 64.92
Dividend Payout % 16% 12% 13% 15% 19% 19% 21% 20% 20% 19% 27% 36%
Compounded Sales Growth
10 Years: 3%
5 Years: -2%
3 Years: -11%
TTM: 12%
Compounded Profit Growth
10 Years: 4%
5 Years: 8%
3 Years: -9%
TTM: 0%
Stock Price CAGR
10 Years: 3%
5 Years: 8%
3 Years: -13%
1 Year: -33%
Return on Equity
10 Years: 11%
5 Years: 11%
3 Years: 10%
Last Year: 9%

Balance Sheet

Figures in Rs. Crores

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 10 10 10 10 10 10 10 10 10 10 10 10
Reserves 315 356 412 464 507 559 595 660 727 802 853 793
0 0 0 0 0 1 1 1 1 0 0 1
110 113 114 124 141 148 187 194 196 184 194 238
Total Liabilities 435 480 536 599 658 719 794 865 934 997 1,058 1,042
123 112 107 101 95 98 91 87 91 98 107 132
CWIP 0 0 0 1 3 2 2 13 9 7 8 44
Investments 0 0 0 0 0 0 0 0 0 0 0 0
312 367 429 497 560 619 700 765 833 892 943 867
Total Assets 435 480 536 599 658 719 794 865 934 997 1,058 1,042

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
43 101 40 55 21 -18 152 37 157 106 22 -11
-44 -86 -14 -65 -13 47 -92 16 -148 -97 -69 173
-5 -7 -8 -9 -11 -13 -14 -11 -16 -18 -28 -126
Net Cash Flow -5 7 18 -20 -3 17 46 42 -7 -9 -75 36
Free Cash Flow 16 90 27 40 3 -39 138 21 129 83 -18 -63
CFO/OP 95% 142% 80% 91% 62% 13% 234% 62% 145% 132% 61% 20%

Ratios

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 22 18 14 30 28 21 32 28 21 19 54 66
Inventory Days 118 85 108 75 84 156 98 90 83 89 106 116
Days Payable 67 57 63 61 61 64 69 59 46 61 67 78
Cash Conversion Cycle 73 46 59 44 51 114 61 58 58 47 93 105
Working Capital Days 60 34 47 53 133 164 110 51 27 20 46 198
ROCE % 18% 22% 22% 21% 18% 16% 11% 16% 19% 15% 13% 12%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Exports as % of Total Turnover
%

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Engines as % of Total Turnover
%
Generators as % of Total Turnover
%
Water Pumps as % of Total Turnover
%
Tillers as % of Total Turnover
%
Number of Dealers / Distributors
count
Number of International Countries Served
count
2-inch Water Pump Sales
units

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67%
1.79% 1.59% 1.45% 1.42% 1.41% 1.36% 1.37% 1.16% 1.10% 1.09% 1.05% 0.98%
14.72% 14.82% 15.31% 16.93% 17.95% 18.18% 18.18% 18.23% 18.23% 18.23% 18.27% 18.27%
16.81% 16.92% 16.56% 15.00% 13.97% 13.80% 13.78% 13.95% 14.01% 14.02% 14.02% 14.09%
No. of Shareholders 16,48520,17720,76218,21019,09220,60722,70623,41925,09425,08425,27325,099

* 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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