Hero MotoCorp Ltd

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

Hero MotoCorp Ltd

₹ 4,754 -0.45%
21 Nov 4:00 p.m.
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 ₹ 95,074 Cr.
  • Current Price ₹ 4,754
  • High / Low ₹ 6,246 / 3,414
  • Stock P/E 23.1
  • Book Value ₹ 951
  • Dividend Yield 2.42 %
  • ROCE 29.1 %
  • ROE 22.0 %
  • Face Value ₹ 2.00
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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

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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
8,539 8,013 7,497 8,448 9,158 8,118 8,434 8,851 9,533 9,788 9,617 10,211 10,483
7,516 7,030 6,661 7,527 8,096 7,177 7,345 7,734 8,174 8,403 8,298 8,804 9,033
Operating Profit 1,023 983 836 920 1,062 942 1,089 1,117 1,360 1,385 1,319 1,407 1,450
OPM % 12% 12% 11% 11% 12% 12% 13% 13% 14% 14% 14% 14% 14%
158 140 131 56 94 265 238 66 213 288 177 225 239
Interest 14 13 13 14 48 24 19 21 25 23 8 19 18
Depreciation 174 174 168 173 173 172 180 180 187 194 197 205 206
Profit before tax 993 936 786 789 936 1,011 1,128 982 1,360 1,456 1,292 1,408 1,464
Tax % 25% 25% 21% 26% 27% 29% 28% 29% 26% 25% 27% 27% 27%
748 704 621 586 682 721 811 701 1,007 1,091 943 1,032 1,066
EPS in Rs 37.32 35.22 30.60 29.55 34.45 36.33 40.29 35.53 50.35 54.70 46.77 52.31 53.19
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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
25,275 27,538 28,457 28,610 32,458 33,971 29,254 30,959 29,551 34,158 37,789 40,098
21,722 24,018 24,033 24,025 27,124 28,946 25,184 26,902 26,295 30,060 32,554 34,537
Operating Profit 3,553 3,520 4,424 4,585 5,334 5,025 4,070 4,058 3,256 4,099 5,235 5,561
OPM % 14% 13% 16% 16% 16% 15% 14% 13% 11% 12% 14% 14%
430 325 421 830 564 741 1,434 553 545 567 689 929
Interest 12 12 15 27 31 37 47 46 53 105 76 68
Depreciation 1,107 540 443 502 575 624 846 715 690 697 757 802
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 5,620
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 4,133
EPS in Rs 105.30 118.42 157.34 179.49 186.29 172.44 182.14 146.05 115.95 140.61 187.31 206.97
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: 15%
Compounded Profit Growth
10 Years: 7%
5 Years: 2%
3 Years: 11%
TTM: 23%
Stock Price CAGR
10 Years: 4%
5 Years: 14%
3 Years: 22%
1 Year: 40%
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 Sep 2024
Equity Capital 40 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 18,971
284 100 232 261 228 312 453 584 605 568 606 588
4,215 4,014 3,829 4,736 5,197 5,072 4,815 7,096 6,027 6,694 7,847 9,663
Total Liabilities 10,122 10,654 12,896 15,312 17,397 18,504 19,674 23,096 22,478 23,917 26,153 29,261
2,247 2,952 3,784 4,599 4,961 4,952 6,473 6,380 6,194 6,159 6,232 6,588
CWIP 855 719 653 581 355 573 391 495 517 454 484 145
Investments 4,106 3,118 4,501 6,066 7,669 6,114 8,359 10,582 10,528 10,891 12,751 14,980
2,914 3,864 3,958 4,066 4,411 6,865 4,451 5,639 5,240 6,413 6,685 7,548
Total Assets 10,122 10,654 12,896 15,312 17,397 18,504 19,674 23,096 22,478 23,917 26,153 29,261

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%

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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Documents

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