Hero MotoCorp Ltd

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

Hero MotoCorp Ltd

₹ 4,340 -1.52%
20 Dec - 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 ₹ 86,799 Cr.
  • Current Price ₹ 4,340
  • High / Low ₹ 6,246 / 3,930
  • Stock P/E 19.7
  • Book Value ₹ 976
  • Dividend Yield 2.65 %
  • ROCE 30.4 %
  • ROE 23.0 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 72.0%

Cons

  • The company has delivered a poor sales growth of 2.17% 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

Part of Nifty 50 BSE 500 BSE 100 BSE 200 BSE Dollex 200

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
8,453 7,883 7,422 8,393 9,075 8,031 8,307 8,767 9,445 9,724 9,519 10,144 10,463
7,387 6,923 6,594 7,452 8,037 7,107 7,224 7,561 8,117 8,362 8,160 8,684 8,947
Operating Profit 1,066 960 828 941 1,038 924 1,083 1,206 1,328 1,362 1,359 1,460 1,516
OPM % 13% 12% 11% 11% 11% 12% 13% 14% 14% 14% 14% 14% 14%
157 122 140 53 92 183 237 62 248 242 180 232 283
Interest 7 7 7 7 3 5 5 5 5 5 5 5 5
Depreciation 164 164 158 163 163 162 169 169 175 183 185 193 194
Profit before tax 1,053 911 802 824 964 940 1,147 1,095 1,397 1,417 1,350 1,493 1,600
Tax % 25% 25% 22% 24% 26% 24% 25% 25% 25% 24% 25% 25% 25%
794 686 627 625 716 711 859 825 1,054 1,073 1,016 1,123 1,204
EPS in Rs 39.76 34.34 31.38 31.25 35.84 35.58 42.98 41.27 52.73 53.70 50.82 56.15 60.18
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
23,768 25,275 27,585 28,443 28,500 32,230 33,651 28,836 30,801 29,245 33,806 37,456 39,850
20,477 21,721 24,020 23,962 23,857 26,941 28,714 24,869 26,777 25,866 29,815 32,194 34,153
Operating Profit 3,292 3,554 3,565 4,481 4,644 5,289 4,937 3,967 4,024 3,379 3,991 5,261 5,697
OPM % 14% 14% 13% 16% 16% 16% 15% 14% 13% 12% 12% 14% 14%
391 432 315 396 513 517 685 1,447 575 547 560 727 937
Interest 12 12 11 5 6 6 9 22 22 26 20 18 19
Depreciation 1,142 1,107 540 438 493 556 602 818 677 650 657 711 754
Profit before tax 2,529 2,867 3,329 4,435 4,658 5,244 5,011 4,574 3,900 3,250 3,875 5,258 5,860
Tax % 16% 26% 28% 29% 28% 30% 32% 21% 24% 24% 25% 25%
2,118 2,109 2,386 3,160 3,377 3,697 3,385 3,633 2,964 2,473 2,911 3,968 4,416
EPS in Rs 106.07 105.62 119.47 158.25 169.11 185.14 169.47 181.90 148.37 123.77 145.65 198.48 220.85
Dividend Payout % 57% 62% 50% 46% 50% 51% 51% 49% 71% 77% 69% 71%
Compounded Sales Growth
10 Years: 4%
5 Years: 2%
3 Years: 7%
TTM: 15%
Compounded Profit Growth
10 Years: 8%
5 Years: 4%
3 Years: 12%
TTM: 24%
Stock Price CAGR
10 Years: 3%
5 Years: 12%
3 Years: 22%
1 Year: 10%
Return on Equity
10 Years: 25%
5 Years: 20%
3 Years: 19%
Last Year: 23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 40 40 40 40 40 40 40 40 40 40 40 40 40
Reserves 4,966 5,560 6,501 8,794 10,071 11,729 12,817 14,096 15,158 15,743 16,665 17,946 19,486
642 284 0 0 0 0 0 150 150 168 156 138 149
3,994 4,213 3,980 3,738 4,583 4,970 4,784 4,463 6,813 5,763 6,402 7,448 9,293
Total Liabilities 9,642 10,097 10,522 12,573 14,694 16,739 17,641 18,749 22,161 21,714 23,263 25,572 28,967
3,071 2,243 2,913 3,584 4,396 4,655 4,619 6,117 5,988 5,806 5,761 5,834 6,231
CWIP 62 854 713 605 465 318 542 341 437 458 464 481 133
Investments 3,624 4,089 3,154 4,581 5,890 7,525 5,969 8,223 10,500 10,652 11,010 13,086 15,525
2,885 2,911 3,742 3,802 3,944 4,241 6,512 4,068 5,236 4,797 6,028 6,171 7,078
Total Assets 9,642 10,097 10,522 12,573 14,694 16,739 17,641 18,749 22,161 21,714 23,263 25,572 28,967

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,890 2,963 2,250 3,849 4,028 3,981 979 5,410 4,173 2,020 2,579 4,907
-733 -1,617 12 -2,206 -1,944 -1,915 1,321 -2,883 -2,210 -152 -469 -1,802
-1,056 -1,415 -2,231 -1,687 -2,096 -2,047 -2,294 -2,420 -1,941 -1,939 -2,041 -2,733
Net Cash Flow 101 -69 32 -44 -12 19 6 107 21 -71 70 372

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 10 13 18 16 20 17 31 20 29 29 30 26
Inventory Days 13 13 15 13 13 14 17 20 25 20 22 21
Days Payable 39 46 50 50 62 55 53 56 87 75 72 79
Cash Conversion Cycle -16 -19 -16 -21 -30 -24 -5 -16 -34 -26 -20 -32
Working Capital Days -35 -33 -14 -12 -17 -14 7 -8 -19 -12 -6 -16
ROCE % 42% 45% 51% 55% 48% 46% 40% 28% 25% 20% 23% 30%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
34.75% 34.75% 34.78% 34.78% 34.78% 34.78% 34.78% 34.76% 34.76% 34.76% 34.76% 34.75%
29.57% 29.22% 28.84% 27.79% 27.48% 27.01% 28.10% 26.80% 28.34% 28.93% 29.87% 29.59%
23.69% 24.24% 25.58% 26.89% 27.30% 27.86% 27.28% 29.14% 28.09% 27.76% 26.87% 26.94%
11.99% 11.79% 10.81% 10.55% 10.45% 10.36% 9.85% 9.30% 8.80% 8.55% 8.49% 8.72%
No. of Shareholders 3,98,5384,04,0563,68,7213,49,5223,27,7733,33,0543,13,1043,01,4982,80,5472,92,8283,00,1467,61,259

* 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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