Honda India Power Products Ltd

Honda India Power Products Ltd

₹ 3,325 6.39%
14 Jun 4:01 p.m.
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 offers a range of products, including generators, general-purpose engines, water pumping sets, brush cutters, and tillers. [1]

  • Market Cap 3,372 Cr.
  • Current Price 3,325
  • High / Low 3,475 / 2,105
  • Stock P/E 37.8
  • Book Value 801
  • Dividend Yield 0.49 %
  • ROCE 15.5 %
  • ROE 11.5 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 19.8%
  • Company's working capital requirements have reduced from 32.1 days to 18.4 days

Cons

  • The company has delivered a poor sales growth of 3.93% over past five years.
  • Company has a low return on equity of 12.3% over last 3 years.
  • Earnings include an other income of Rs.45.4 Cr.

* 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.

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
296 264 231 338 324 200 394 339 313 210 285 263 231
275 242 211 304 301 194 338 294 285 190 249 230 221
Operating Profit 21 22 20 33 23 6 56 45 28 20 35 33 10
OPM % 7% 8% 9% 10% 7% 3% 14% 13% 9% 10% 12% 13% 5%
4 9 6 3 3 6 6 3 -13 8 12 10 16
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 5 5 5 5 5 5 5 5 6 5 5 5 5
Profit before tax 20 26 21 31 21 7 57 43 9 23 42 38 21
Tax % 24% 25% 25% 25% 27% 25% 25% 26% 36% 26% 26% 25% 24%
15 20 16 23 16 5 42 32 6 17 31 28 16
EPS in Rs 15.07 19.53 15.68 22.91 15.36 4.84 41.82 31.50 5.73 16.66 30.75 27.92 15.58
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
516 541 631 673 702 768 816 849 939 1,156 1,246 989
477 490 560 584 606 665 725 756 866 1,054 1,111 890
Operating Profit 38 52 70 88 96 103 91 93 73 103 135 99
OPM % 7% 10% 11% 13% 14% 13% 11% 11% 8% 9% 11% 10%
7 -5 11 11 16 15 14 20 15 17 2 45
Interest 0 0 1 1 1 1 1 1 1 1 1 0
Depreciation 14 18 21 24 23 23 21 22 20 19 21 20
Profit before tax 31 29 59 75 88 94 83 90 66 100 115 124
Tax % 34% 35% 34% 35% 34% 35% 35% 26% 26% 26% 26% 25%
21 19 39 49 58 61 54 67 49 75 85 92
EPS in Rs 20.31 18.52 38.08 48.14 56.96 60.54 53.39 65.58 47.98 73.48 83.89 90.91
Dividend Payout % 20% 22% 16% 12% 13% 15% 19% 19% 21% 20% 20% 19%
Compounded Sales Growth
10 Years: 6%
5 Years: 4%
3 Years: 2%
TTM: -21%
Compounded Profit Growth
10 Years: 14%
5 Years: 10%
3 Years: 23%
TTM: -7%
Stock Price CAGR
10 Years: 13%
5 Years: 28%
3 Years: 46%
1 Year: 54%
Return on Equity
10 Years: 12%
5 Years: 11%
3 Years: 12%
Last Year: 12%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 10 10 10 10 10 10 10 10 10 10 10 10
Reserves 270 284 315 356 412 464 507 559 595 660 727 802
0 0 0 0 0 0 0 1 1 1 1 0
85 97 110 113 114 124 141 148 187 194 196 179
Total Liabilities 365 391 435 480 536 599 658 719 794 865 934 992
117 114 123 112 107 101 95 98 91 87 91 98
CWIP 1 1 0 0 0 1 3 2 2 13 9 7
Investments 0 0 0 0 0 0 0 0 0 0 0 0
246 275 312 367 429 497 560 619 700 765 833 887
Total Assets 365 391 435 480 536 599 658 719 794 865 934 992

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-30 16 43 101 40 55 21 -18 152 37 157 106
37 -13 -44 -86 -14 -65 -13 47 -92 16 -148 -99
-11 -5 -5 -7 -8 -9 -11 -13 -14 -11 -16 -18
Net Cash Flow -4 -1 -5 7 18 -20 -3 17 46 42 -7 -11

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 20 27 22 18 14 30 28 21 32 28 21 19
Inventory Days 117 124 118 85 108 75 84 156 98 90 83 86
Days Payable 60 62 67 57 63 61 61 64 69 59 46 61
Cash Conversion Cycle 76 89 73 46 59 44 51 114 61 58 58 44
Working Capital Days 60 67 60 34 47 53 133 164 110 51 27 18
ROCE % 12% 13% 18% 22% 22% 21% 18% 16% 11% 16% 19%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67% 66.67%
0.34% 0.38% 0.42% 0.46% 0.56% 0.59% 1.53% 1.72% 1.73% 1.79% 1.59% 1.45%
11.94% 11.73% 12.25% 12.27% 13.38% 13.43% 13.29% 13.45% 14.40% 14.72% 14.82% 15.31%
21.05% 21.22% 20.66% 20.60% 19.39% 19.32% 18.51% 18.17% 17.20% 16.81% 16.92% 16.56%
No. of Shareholders 17,26517,59216,22316,13916,12415,65817,98517,93717,38916,48520,17720,762

* 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.

Click on the line-items to see the names of individual entities.

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