Hero MotoCorp

₹5093.3 2.6 | 0.1%

WEBSITE BSE:500182 NSE : HEROMOTOCO 18 May, 12:50

Market Cap ₹101831 Cr.

Stock P/E 27.2

P/B 5.7

Current Price ₹5093.3

Book Value ₹ 899.6

Face Value 2

52W High ₹5167.7

Dividend Yield 2.75%

52W Low ₹ 2668.7

Edit Ratio

Hero MotoCorp Research see more...

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Overview Inc. Year: 1984Industry: Automobile Two & Three Wheelers

Hero MotoCorp Limited is engaged in development, manufacturing, advertising, sale and distribution of two-wheelers and its components and accessories. Its product category consists of motorcycles, scooters, and parts. Its motorcycle products comprises XTREME 200S, XTREME 160R BS6, XPULSE 200T, XPULSE 200 4V, XPULSE 200 BS6, GLAMOUR BS6, NEW GLAMOUR and GLAMOUR XTEC,SUPER SPLENDOR BS6, SPLENDOR ISMART BS6, SPLENDOR+ BS6, PASSION PRO BS6, NEW SUPER SPLENDOR. Its scooter merchandise comprises PLEASURE+ XTEC, NEW MAESTRO EDGE 125 BS6, NEW MAESTRO EDGE 110 and DESTINI 125 BS6. Its add-ons comprises bungee nets, engine guards, fender, grip covers, helmets, knee pads, products, rim tapes, seat covers, aspect grabs, step women, and tank pads. It also offers HERO GENUINE 4T PLUS MOTORCYCLE ENGINE OIL and HERO GENUINE 4T PLUS SCOOTOER ENGINE OIL. It has 8 production facilities, including six in India (Dharuhera, Chittoor, Gurugram, Haridwar, Neemrana, Gujarat) and one each in Colombia and Bangladesh.

Hero MotoCorp Share Price

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Peer Comparison

Hero MotoCorp Quarterly Results

#(Fig in Cr.)	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018
Net Sales	7496	8622	8372	7314	8564
Other Income	118	132	118	110	167
Total Income	7614	8754	8489	7424	8731
Total Expenditure	6538	7326	6916	6156	7193
Operating Profit	1076	1428	1573	1268	1537
Interest	1	2	2	2	2
Depreciation	135	133	136	138	148
Exceptional Income / Expenses	0	0	0	0	0
Profit Before Tax	939	1293	1436	1128	1387
Provision for Tax	221	379	425	323	420
Profit After Tax	718	914	1010	805	967
Adjustments	-718	-914	-1010	-805	-967
Profit After Adjustments	0	0	0	0	0
Adjusted Earnings Per Share	35.9	45.8	50.6	40.3	48.4

Hero MotoCorp Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	23768	25275	27585	28443	28500	32230	33651	28836	30801	29245	33806	32872
Other Income	398	446	493	422	522	526	691	778	580	557	565	527
Total Income	24166	25722	28078	28865	29023	32756	34342	29614	31380	29802	34371	33398
Total Expenditure	20491	21745	24058	24005	23915	27028	28847	25059	26878	25979	29944	27591
Operating Profit	3675	3977	4020	4860	5108	5728	5495	4555	4502	3824	4427	5806
Interest	12	12	11	5	6	6	9	22	22	26	20	8
Depreciation	1134	1098	525	420	444	478	476	637	580	548	533	555
Exceptional Income / Expenses	0	0	-155	0	0	0	0	677	0	0	0	0
Profit Before Tax	2529	2867	3329	4435	4658	5244	5011	4574	3900	3250	3875	5244
Provision for Tax	411	758	943	1275	1281	1547	1626	940	936	777	964	1547
Profit After Tax	2118	2109	2386	3160	3377	3697	3385	3633	2964	2473	2911	3696
Adjustments	0	0	0	0	0	0	0	0	0	0	0	-3696
Profit After Adjustments	2118	2109	2386	3160	3377	3697	3385	3633	2964	2473	2911	0
Adjusted Earnings Per Share	106.1	105.6	119.5	158.2	169.1	185.1	169.5	181.9	148.4	123.8	145.6	185.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	16%	5%	1%	4%
Operating Profit CAGR	16%	-1%	-5%	2%
PAT CAGR	18%	-7%	-5%	3%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	86%	21%	13%	8%
ROE Average	18%	18%	22%	31%
ROCE Average	24%	24%	29%	41%

Hero MotoCorp Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	5006	5600	6541	8834	10111	11769	12857	14136	15198	15783	16705
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	302	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1235	-32	23	1251	1572	2074	2245	1710	1770	1655	1873
Total Current Liabilities	4171	4423	3883	3448	4093	4343	4130	3976	6110	5072	5624
Total Liabilities	10714	9991	10448	13534	15776	18186	19233	19823	23079	22510	24202
Fixed Assets	3071	2243	2913	3584	4396	4655	4619	6117	5988	5806	5761
Other Non-Current Assets	2565	2192	2253	3798	3928	4683	6498	5417	6138	6589	9404
Total Current Assets	5078	5556	5282	6151	7453	8848	8116	8289	10953	10115	9037
Total Assets	10714	9991	10448	13534	15776	18186	19233	19823	23079	22510	24202

Hero MotoCorp Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	34	135	66	71	27	15	34	41	148	169	99
Cash Flow from Operating Activities	1890	2963	2250	3849	4028	3981	979	5410	4173	2020	2579
Cash Flow from Investing Activities	-733	-1619	12	-2206	-1944	-1915	1321	-2883	-2210	-152	-469
Cash Flow from Financing Activities	-1056	-1415	-2231	-1687	-2096	-2047	-2294	-2420	-1941	-1939	-2041
Net Cash Inflow / Outflow	101	-71	32	-44	-12	19	6	107	21	-71	70
Closing Cash & Cash Equivalent	135	66	98	27	15	34	41	148	169	99	168

Hero MotoCorp Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	106.07	105.61	119.46	158.25	169.11	185.15	169.46	181.89	148.36	123.77	145.64
CEPS(Rs)	162.85	160.57	145.76	179.29	191.33	209.08	193.27	213.76	177.38	151.18	172.29
DPS(Rs)	60	65	60	72	85	95	87	90	105	95	100
Book NAV/Share(Rs)	250.69	280.41	327.52	442.32	506.13	588.99	643.18	706.93	759.73	788.71	834.1
Core EBITDA Margin(%)	12.77	13	12.04	14.45	14.85	15.83	14.28	13.4	12.54	10.98	11.21
EBIT Margin(%)	9.9	10.6	11.4	14.46	15.11	15.97	14.92	16.3	12.54	11.01	11.3
Pre Tax Margin(%)	9.86	10.56	11.36	14.45	15.09	15.95	14.89	16.22	12.47	10.93	11.24
PAT Margin (%)	8.25	7.77	8.14	10.29	10.94	11.25	10.06	12.89	9.48	8.31	8.45
Cash Profit Margin (%)	12.67	11.81	9.93	11.66	12.38	12.7	11.47	15.15	11.33	10.15	9.99
ROA(%)	20.56	20.37	23.34	26.35	23.04	21.77	18.09	18.61	13.82	10.85	12.46
ROE(%)	45.57	39.77	39.3	41.11	35.66	33.81	27.51	26.94	20.23	15.99	17.95
ROCE(%)	42.46	48.66	53.76	57.75	49.24	47.99	40.76	34.05	26.74	21.15	23.97
Receivable days	6.67	10.66	14.39	15.89	16.82	17.11	23.55	28.65	23.51	29.03	27.03
Inventory Days	9.33	8.78	9.25	8.85	7.86	8.22	10.28	14.01	14.95	15.9	13.54
Payable days	43.71	41.69	46.11	50.56	56.57	54.89	52.26	59.21	69.1	83.03	68.63
PER(x)	14.54	21.52	22.12	18.6	19.06	19.15	15.08	8.76	19.65	18.56	16.12
Price/Book(x)	6.15	8.11	8.07	6.65	6.37	6.02	3.97	2.26	3.84	2.91	2.81
Dividend Yield(%)	3.89	2.86	2.27	2.45	2.64	2.68	3.4	5.65	3.6	4.14	4.26
EV/Net Sales(x)	1.33	1.8	1.91	2.06	2.25	2.19	1.51	1.1	1.88	1.56	1.38
EV/Core EBITDA(x)	8.59	11.46	13.09	12.07	12.58	12.34	9.26	6.94	12.88	11.96	10.52
Net Sales Growth(%)	0.8	6.34	9.14	3.11	0.2	13.09	4.41	-14.31	6.81	-5.05	15.59
EBIT Growth(%)	-11.95	13.3	16.01	32.93	5.06	12.56	-4.4	-8.44	-14.65	-16.48	18.88
PAT Growth(%)	-10.93	-0.43	13.11	32.47	6.86	9.48	-8.45	7.34	-18.41	-16.57	17.69
EPS Growth(%)	-10.93	-0.43	13.11	32.47	6.86	9.48	-8.47	7.34	-18.44	-16.57	17.66
Debt/Equity(x)	0.19	0.05	0	0	0	0	0	0	0	0	0
Current Ratio(x)	1.22	1.26	1.36	1.78	1.82	2.04	1.96	2.08	1.79	1.99	1.61
Quick Ratio(x)	1.06	1.1	1.15	1.59	1.66	1.85	1.71	1.81	1.55	1.77	1.35
Interest Cover(x)	213.36	243.58	301.16	907.93	770.99	840.07	583.64	208.71	179.59	126.97	196
Total Debt/Mcap(x)	0.03	0.01	0	0	0	0	0	0	0	0	0

Hero MotoCorp Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	34.75	34.75	34.78	34.77	34.77	34.77	34.77	34.77	34.76	34.76
FII	29.57	29.22	28.84	27.78	27.47	26.99	28.09	26.79	28.33	28.92
DII	23.69	24.24	25.58	26.9	27.31	27.88	27.29	29.15	28.11	27.77
Public	11.99	11.79	10.81	10.54	10.45	10.36	9.85	9.3	8.8	8.55
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	6.94	6.94	6.95	6.95	6.95	6.95	6.95	6.95	6.95	6.95
FII	5.91	5.84	5.76	5.55	5.49	5.39	5.61	5.35	5.66	5.78
DII	4.73	4.84	5.11	5.38	5.46	5.57	5.45	5.83	5.62	5.55
Public	2.4	2.35	2.16	2.11	2.09	2.07	1.97	1.86	1.76	1.71
Others	0	0	0	0	0	0	0	0	0	0
Total	19.98	19.98	19.98	19.98	19.98	19.98	19.98	19.99	19.99	19.99

Pros

Debtor days have improved from 83.03 to 68.63days.
Company is almost debt free.

Cons

Promoter holding is low: 34.76%.
Stock is trading at 5.7 times its book value.
The company has delivered a poor profit growth of -4% 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.

Hero MotoCorp News

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Hero MotoCorp

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Hero MotoCorp Research see more...

Overview Inc. Year: 1984Industry: Automobile Two & Three Wheelers

Hero MotoCorp Share Price

Alert Data

Quarterly Price

Peer Comparison

Hero MotoCorp Quarterly Results

Hero MotoCorp Profit & Loss

Growth Rates

Hero MotoCorp Balance Sheet

Hero MotoCorp Cash Flow

Hero MotoCorp Ratios

Hero MotoCorp Shareholding Pattern

Hero MotoCorp News

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