Honda India Power Products Ltd

₹ 2,307 1.98%

27 May - 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 offers a range of products, including generators, general-purpose engines, water pumping sets, brush cutters, and tillers. ^[1]

Website BSE NSE

Market Cap ₹ 2,351 Cr.
Current Price ₹ 2,307
High / Low ₹ 3,256 / 1,817
Stock P/E 32.8
Book Value ₹ 792
Dividend Yield 4.49 %
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 4.49%.
Company has been maintaining a healthy dividend payout of 29.4%

Cons

Stock is trading at 2.91 times its book value
The company has delivered a poor sales growth of -1.62% over past five years.
Company has a low return on equity of 9.82% over last 3 years.
Debtor days have increased from 46.5 to 66.5 days.
Working capital days have increased from 86.5 days to 193 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 Industrials BSE 1000

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	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
	313	210	285	263	231	144	177	204	269	155	176	270	265
	285	190	249	230	221	128	170	183	225	146	164	238	235
Operating Profit	28	20	35	33	10	16	7	21	43	8	11	32	30
OPM %	9%	10%	12%	13%	5%	11%	4%	10%	16%	5%	6%	12%	11%
	-13	8	12	10	16	11	10	10	11	10	9	-3	11
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	6	5	5	5	5	5	5	5	6	6	6	6	6
Profit before tax	9	23	42	38	21	22	11	26	49	13	15	23	35
Tax %	36%	26%	26%	25%	24%	26%	26%	26%	26%	26%	26%	27%	23%
	6	17	31	28	16	16	9	19	36	9	11	17	27
EPS in Rs	5.73	16.66	30.75	27.92	15.58	15.92	8.42	18.82	35.65	9.35	11.01	16.43	26.54
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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
	631	673	702	768	816	849	939	1,156	1,246	989	794	865
	560	584	606	665	725	756	866	1,054	1,111	890	706	784
Operating Profit	70	88	96	103	91	93	73	103	135	99	88	82
OPM %	11%	13%	14%	13%	11%	11%	8%	9%	11%	10%	11%	9%
	11	11	16	15	14	20	15	17	2	45	42	27
Interest	1	1	1	1	1	1	1	1	1	1	1	0
Depreciation	21	24	23	23	21	22	20	19	21	20	22	23
Profit before tax	59	75	88	94	83	90	66	100	115	124	108	86
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
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
Dividend Payout %	16%	12%	13%	15%	19%	19%	21%	20%	20%	19%	27%	42%

Compounded Sales Growth
10 Years:	3%
5 Years:	-2%
3 Years:	-11%
TTM:	9%

Compounded Profit Growth
10 Years:	4%
5 Years:	8%
3 Years:	-9%
TTM:	-10%

Stock Price CAGR
10 Years:	7%
5 Years:	17%
3 Years:	1%
1 Year:	-20%

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	227
Total Liabilities	435	480	536	599	658	719	794	865	934	997	1,058	1,032
	123	112	107	101	95	98	91	87	91	98	107	132
CWIP	0	0	0	1	3	2	2	13	9	7	8	43
Investments	0	0	0	0	0	0	0	0	0	0	0	0
	312	367	429	497	560	619	700	765	833	892	943	856
Total Assets	435	480	536	599	658	719	794	865	934	997	1,058	1,032

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
	43	101	40	55	21	-18	152	37	157	106	22
	-44	-86	-14	-65	-13	47	-92	16	-148	-97	-69
	-5	-7	-8	-9	-11	-13	-14	-11	-16	-18	-28
Net Cash Flow	-5	7	18	-20	-3	17	46	42	-7	-9	-75
Free Cash Flow	16	90	27	40	3	-39	138	21	129	83	-18
CFO/OP	95%	142%	80%	91%	62%	13%	234%	62%	145%	132%	61%

Ratios

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
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	109
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	98
Working Capital Days	60	34	47	53	133	164	110	51	27	20	46	193
ROCE %	18%	22%	22%	21%	18%	16%	11%	16%	19%	15%	13%	11%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Export Contribution to Turnover
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Total Employee Strength (Associates)
Number

Number of Dealers/Distributors
Number

Export Reach (Countries)
Number

Water Pump Sales Volume (2-inch segment)
Units

Accumulated Production Milestone
Million Units

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 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%
	1.73%	1.79%	1.59%	1.45%	1.42%	1.41%	1.36%	1.37%	1.16%	1.10%	1.09%	1.05%
	14.40%	14.72%	14.82%	15.31%	16.93%	17.95%	18.18%	18.18%	18.23%	18.23%	18.23%	18.27%
	17.20%	16.81%	16.92%	16.56%	15.00%	13.97%	13.80%	13.78%	13.95%	14.01%	14.02%	14.02%
No. of Shareholders	17,389	16,485	20,177	20,762	18,210	19,092	20,607	22,706	23,419	25,094	25,084	25,273

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	67.67%	67.67%	67.67%	67.67%	66.67%	66.67%	66.67%	66.67%	66.67%	66.67%
	0.12%	0.41%	0.34%	0.35%	1.01%	0.46%	1.72%	1.45%	1.37%	1.05%
	4.95%	6.88%	7.87%	10.26%	11.29%	12.27%	13.45%	15.31%	18.18%	18.27%
	27.26%	25.04%	24.13%	21.73%	21.04%	20.60%	18.17%	16.56%	13.78%	14.02%
No. of Shareholders	13,463	16,412	16,494	15,403	17,814	16,139	17,937	20,762	22,706	25,273

* 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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Honda India Power Products Ltd

Honda India Power Products Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports