Hero MotoCorp Ltd.

•

heromotocorp.comBSE: 500182NSE: HEROMOTOCO

Market Cap₹ 1,04,574 Cr.

Current Price

High / Low₹ 6,388 / 4,672

Stock P/E19.2

Book Value₹ 1,151

Price to Book4.69

Dividend Yield3.54 %

ROCE35.9 %

ROE28.3 %

Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence

74%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 32.4%
Company has a good return on equity (ROE) track record: 3 Years ROE 24.6%
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.26x)
Company has been maintaining a healthy dividend payout of 64.5%

CONS

Recent results are weak - TTM profit is down 74.0% versus prior year
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAutomobile Two & Three Wheelers

Part ofNIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250 NIFTY AUTO NIFTYMIDCAP150 NIFTY CONSUMPTION

S.No.	Name
1.	BAJAJ-AUTO	11684.00	27.30	321080.80	1.28	3188.75	44.26	21688.83	71.50	28.68	20.88
2.	EICHERMOT	7540.00	35.86	206989.37	1.09	1462.51	21.35	6632.42	34.11	30.54	26.51
3.	TVSMOTOR	4127.50	57.21	196092.21	0.29	1057.61	64.52	16295.52	33.46	18.24	14.38
4.	HEROMOTOCO	5225.00	19.19	104573.78	3.54	1417.93	-91.69	13126.35	34.94	35.92	12.97
5.	ATHERENERG	1655.50	0.00	65657.75	0.00	-510.90	—	12169.20	—	-21.59	-2.73
6.	OLAELEC	38.56	0.00	17847.14	0.00	-336.00	21.50	455.00	-45.05	-20.87	-36.26
7.	ATULAUTO	447.05	26.26	1240.62	0.67	8.04	290.29	218.43	44.73	11.27	7.72
8.	URJA	9.02	459.41	502.60	0.00	0.43	-55.42	13.96	-26.55	1.40	3.99
9.	WARDINMOBI	5.74	183.30	172.67	0.00	0.17	-84.77	61.64	91.02	12.48	6.17

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	8,851	9,533	9,788	9,617	10,211	10,483	10,260	9,970	9,728	12,218	12,487	12,978	13,126
	7,639	8,174	8,403	8,223	8,750	8,947	8,752	8,529	8,315	10,354	10,641	11,056	11,621
Operating Profit	1,212	1,360	1,385	1,394	1,461	1,536	1,508	1,441	1,413	1,864	1,846	1,922	1,505
OPM %	13.69%	14.26%	14.15%	14.49%	14.31%	14.65%	14.70%	14.45%	14.52%	15.26%	14.79%	14.81%	11.46%
	66	208	244	177	225	239	306	274	310	240	179	210	460
Interest	21	25	23	8	19	18	17	17	21	19	20	19	21
Depreciation	180	187	194	197	205	206	209	204	206	210	219	220	220
Profit before Tax	1,076	1,356	1,412	1,367	1,462	1,550	1,589	1,494	1,497	1,875	1,787	1,893	1,921
Tax %	26.14%	26.04%	25.85%	25.51%	25.68%	25.64%	24.46%	26.52%	28.09%	24.32%	23.34%	19.37%	26.18%
Net Profit	701	1,007	0	0	1,032	1,066	1,108	1,169	17,056	1,321	1,275	1,474	1,418
	35.54	50.34	54.71	46.78	52.31	53.19	55.38	58.08	85.26	65.41	63.36	72.98	70.59

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	28,610	32,458	33,971	29,254	30,959	29,551	34,158	37,789	40,923	47,411	50,810
	24,034	27,133	29,079	25,374	26,957	26,209	30,189	32,610	35,156	40,567	43,673
Operating Profit	4,576	5,325	4,892	3,880	4,003	3,343	3,969	5,179	5,768	6,844	7,137
OPM %	15.99%	16.41%	14.40%	13.26%	12.93%	11.31%	11.62%	13.71%	14.09%	14.44%	14.05%
	522	523	687	1,408	558	555	569	707	1,044	939	1,089
Interest	27	31	37	47	46	53	105	76	71	78	79
Depreciation	502	575	498	664	618	587	573	599	647	654	869
Profit before Tax	4,885	5,292	5,104	4,611	3,849	3,058	3,864	5,090	5,934	7,436	7,475
Tax %	27.41%	29.67%	32.09%	20.64%	23.73%	23.84%	27.53%	26.48%	26.25%	22.32%	23.31%
Net Profit	3,546	3,722	3,466	3,659	2,936	2,329	2,800	3,742	4,376	5,776	5,733
EPS	179.49	186.29	172.44	182.15	146.04	115.93	140.49	187.34	218.92	286.94	—
Dividend Payout %	47.36%	50.99%	50.46%	49.41%	71.90%	81.92%	71.12%	74.73%	75.37%	64.47%	—

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: 9%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: 6%
5 Years:: 14%
3 Years:: 27%

STOCK PRICE CAGR

10 Years:: 4%
5 Years:: 13%
3 Years:: 20%
1 Year:: -2%

RETURN ON EQUITY

10 Years:: 25%
5 Years:: 21%
3 Years:: 25%
Last Year:: 28%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	40	40	40	40	40	40	40	40	40	40
Minority Interest	67	93	116	141	143	148	125	136	132	200
	10,272	11,925	13,071	14,351	15,357	15,782	16,580	17,613	19,188	21,529
	248	225	309	418	689	703	703	721	797	826
Trade Payables	3,266	3,375	3,438	3,128	5,264	4,343	4,760	5,623	5,700	7,676
	2,501	3,190	3,130	2,696	2,527	2,298	2,688	3,299	3,999	4,704
Total Liabilities	16,394	18,848	20,104	20,773	24,020	23,315	24,896	27,431	29,856	34,976
	4,599	4,961	4,952	6,473	6,380	6,194	6,159	6,232	6,283	6,374
Capital Work in Progress	386	239	385	205	236	149	122	127	105	245
	6,066	7,669	6,114	8,359	10,582	10,528	10,891	12,751	14,384	19,286
	709	963	1,250	1,282	1,789	1,472	1,756	1,756	2,013	2,650
	0	0	0	0	0	0	0	2,630	3,381	2,340
Cash & Bank	195	238	304	435	396	300	423	696	574	767
	4,439	4,778	7,099	4,019	4,636	4,672	5,544	3,238	3,115	3,314
Total Assets	16,394	18,848	20,104	20,773	24,020	23,315	24,896	27,431	29,856	34,976

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5,194	5,530	3,103	6,071	5,091	2,888	3,470	4,923	4,297	8,315
Cash from Investing	-1,972	-1,858	1,298	-2,819	-2,289	-222	-421	-1,828	-1,703	-4,478
Cash from Financing	-2,036	-2,102	-2,252	-2,602	-1,852	-1,975	-2,147	-2,717	-2,815	-3,534
	-1	57	78	97	-31	-94	45	379	-221	303

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	34.76	34.75	34.74	34.74	34.74	34.73	34.73	34.73	34.73
	29.86	29.58	27.94	27.42	27.04	28.75	29.42	31.14	31.08
	16.39	17.34	18.17	18.02	17.24	16.20	16.75	15.82	15.93
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	8.49	8.72	9.58	9.92	10.38	10.11	9.47	9.34	9.83

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-12

Copy of Newspaper Publication

2026-09-12 - Please find enclosed herewith copies of the newspaper advertisement(s) published regarding the issue of duplicate share certificate in lieu of original share certificate that are reported to be lost and not traceable.

2026-09-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-10 - Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the schedule of investor conference.

2026-09-08

Action(s) taken or orders passed

2026-09-08 - Pursuant to Regulation 30 of the SEBI Listing Regulations, please refer to the attached disclosure document.

2026-09-08

Copy of Newspaper Publication

2026-09-08 - Pursuant to Regulation 30 of the SEBI Listing Regulations, please find attached the copies of the newspaper advertisement(s) publishing that the special window has been opened for transfer and dematerialization of physical securities which were sold / purchased prior to April 1, 2019.

2026-09-01

Press Release

2026-09-01 - Please find attached a copy of the Press Release being issued by the Company.

2026-08-31

Change in Management

2026-08-31 - Pursuant to Regulation 30 of the SEBI Regulations, please refer to the disclosure document.

2026-08-28

Acquisition

2026-08-28 - Pursuant to Regulation 30 of the SEBI Listing Regulations, please refer to the disclosure document regarding update on purchase of additional equity shares in Ather Energy Limited.

2026-08-27

Acquisition

2026-08-27 - Pursuant to Regulation 30 of the SEBI Listing Regulations, please find attached the disclosure document regarding purchase of additional equity shares in Ather Energy Limited.

2026-08-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the schedule of investor meeting(s) /conference(s).

News

Recent coverage and analyst commentary for HEROMOTOCO

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Hero MotoCorp Ltd.

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Name

BAJAJ-AUTO

11684.00

27.30

321080.80

1.28

3188.75

44.26

21688.83

71.50

28.68

20.88

EICHERMOT

7540.00

35.86

206989.37

1.09

1462.51

21.35

6632.42

34.11

30.54

26.51

TVSMOTOR

4127.50

57.21

196092.21

0.29

1057.61

64.52

16295.52

33.46

18.24

14.38

HEROMOTOCO

5225.00

19.19

104573.78

3.54

1417.93

-91.69

13126.35

34.94

35.92

12.97

ATHERENERG

1655.50

0.00

65657.75

0.00

-510.90

—

12169.20

—

-21.59

-2.73

OLAELEC

38.56

0.00

17847.14

0.00

-336.00

21.50

455.00

-45.05

-20.87

-36.26

ATULAUTO

447.05

26.26

1240.62

0.67

8.04

290.29

218.43

44.73

11.27

7.72

URJA

9.02

459.41

502.60

0.00

0.43

-55.42

13.96

-26.55

1.40

3.99

WARDINMOBI

5.74

183.30

172.67

0.00

0.17

-84.77

61.64

91.02

12.48

6.17

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

8,851

9,533

9,788

9,617

10,211

10,483

10,260

9,970

9,728

12,218

12,487

12,978

13,126

7,639

8,174

8,403

8,223

8,750

8,947

8,752

8,529

8,315

10,354

10,641

11,056

11,621

Operating Profit

1,212

1,360

1,385

1,394

1,461

1,536

1,508

1,441

1,413

1,864

1,846

1,922

1,505

OPM %

13.69%

14.26%

14.15%

14.49%

14.31%

14.65%

14.70%

14.45%

14.52%

15.26%

14.79%

14.81%

11.46%

208

244

177

225

239

306

274

310

240

179

210

460

Interest

Depreciation

180

187

194

197

205

206

209

204

206

210

219

220

Profit before Tax

1,076

1,356

1,412

1,367

1,462

1,550

1,589

1,494

1,497

1,875

1,787

1,893

1,921

Tax %

26.14%

26.04%

25.85%

25.51%

25.68%

25.64%

24.46%

26.52%

28.09%

24.32%

23.34%

19.37%

26.18%

Net Profit

701

1,007

1,032

1,066

1,108

1,169

17,056

1,321

1,275

1,474

1,418

35.54

50.34

54.71

46.78

52.31

53.19

55.38

58.08

85.26

65.41

63.36

72.98

70.59

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

28,610

32,458

33,971

29,254

30,959

29,551

34,158

37,789

40,923

47,411

50,810

24,034

27,133

29,079

25,374

26,957

26,209

30,189

32,610

35,156

40,567

43,673

Operating Profit

4,576

5,325

4,892

3,880

4,003

3,343

3,969

5,179

5,768

6,844

7,137

OPM %

15.99%

16.41%

14.40%

13.26%

12.93%

11.31%

11.62%

13.71%

14.09%

14.44%

14.05%

522

523

687

1,408

558

555

569

707

1,044

939

1,089

Interest

105

Depreciation

502

575

498

664

618

587

573

599

647

654

869

Profit before Tax

4,885

5,292

5,104

4,611

3,849

3,058

3,864

5,090

5,934

7,436

7,475

Tax %

27.41%

29.67%

32.09%

20.64%

23.73%

23.84%

27.53%

26.48%

26.25%

22.32%

23.31%

Net Profit

3,546

3,722

3,466

3,659

2,936

2,329

2,800

3,742

4,376

5,776

5,733

EPS

179.49

186.29

172.44

182.15

146.04

115.93

140.49

187.34

218.92

286.94

—

Dividend Payout %

47.36%

50.99%

50.46%

49.41%

71.90%

81.92%

71.12%

74.73%

75.37%

64.47%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

116

141

143

148

125

136

132

200

10,272

11,925

13,071

14,351

15,357

15,782

16,580

17,613

19,188

21,529

248

225

309

418

689

703

721

797

826

Trade Payables

3,266

3,375

3,438

3,128

5,264

4,343

4,760

5,623

5,700

7,676

2,501

3,190

3,130

2,696

2,527

2,298

2,688

3,299

3,999

4,704

Total Liabilities

16,394

18,848

20,104

20,773

24,020

23,315

24,896

27,431

29,856

34,976

4,599

4,961

4,952

6,473

6,380

6,194

6,159

6,232

6,283

6,374

Capital Work in Progress

386

239

385

205

236

149

122

127

105

245

6,066

7,669

6,114

8,359

10,582

10,528

10,891

12,751

14,384

19,286

709

963

1,250

1,282

1,789

1,472

1,756

2,013

2,650

2,630

3,381

2,340

Cash & Bank

195

238

304

435

396

300

423

696

574

767

4,439

4,778

7,099

4,019

4,636

4,672

5,544

3,238

3,115

3,314

Total Assets

16,394

18,848

20,104

20,773

24,020

23,315

24,896

27,431

29,856

34,976

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

5,194

5,530

3,103

6,071

5,091

2,888

3,470

4,923

4,297

8,315

Cash from Investing

-1,972

-1,858

1,298

-2,819

-2,289

-222

-421

-1,828

-1,703

-4,478

Cash from Financing

-2,036

-2,102

-2,252

-2,602

-1,852

-1,975

-2,147

-2,717

-2,815

-3,534

-1

-31

-94

379

-221

303

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

34.76

34.75

34.74

34.73

29.86

29.58

27.94

27.42

27.04

28.75

29.42

31.14

31.08

16.39

17.34

18.17

18.02

17.24

16.20

16.75

15.82

15.93

Government

0.00

8.49

8.72

9.58

9.92

10.38

10.11

9.47

9.34

9.83

Hero MotoCorp Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Hero MotoCorp Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI