Hero MotoCorp Ltd.

•

heromotocorp.comBSE: 500182NSE: HEROMOTOCO

Market Cap₹ 1,04,834 Cr.

Current Price

High / Low₹ 6,388 / 4,672

Stock P/E18.7

Book Value₹ 1,149

Price to Book4.70

Dividend Yield3.53 %

ROCE33.8 %

ROE25.5 %

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 32.3%
Company has a good return on equity (ROE) track record: 3 Years ROE 24.3%
Latest quarter profit grew 29.2% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.26x)

CONS

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	11795.00	27.56	324131.13	1.27	3188.75	44.26	21688.83	71.50	28.68	20.88
2.	EICHERMOT	7749.70	36.85	212746.09	1.06	1462.51	21.35	6632.42	34.11	30.54	26.51
3.	TVSMOTOR	4152.00	57.55	197256.17	0.29	1057.61	64.52	16295.52	33.46	18.24	14.38
4.	HEROMOTOCO	5238.00	19.24	104833.96	3.53	1417.93	-91.69	13126.35	34.94	35.92	12.97
5.	ATHERENERG	1583.00	0.00	62782.37	0.00	-510.90	—	12169.20	—	-21.59	-2.73
6.	OLAELEC	37.31	0.00	17268.59	0.00	-336.00	21.50	455.00	-45.05	-20.87	-36.26
7.	ATULAUTO	456.50	26.82	1266.85	0.66	8.04	290.29	218.43	44.73	11.27	7.72
8.	URJA	9.06	461.45	504.83	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

Standalone Figures in Rs. Crores / View Consolidated

	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
	8,767	9,445	9,724	9,519	10,144	10,463	10,211	9,939	9,579	12,126	12,328	12,797	12,999
	7,561	8,117	8,362	8,160	8,684	8,947	8,734	8,523	8,197	10,303	10,518	10,941	11,484
Operating Profit	1,206	1,328	1,362	1,359	1,460	1,516	1,476	1,416	1,382	1,823	1,810	1,856	1,515
OPM %	13.76%	14.06%	14.01%	14.28%	14.39%	14.49%	14.46%	14.24%	14.42%	15.04%	14.68%	14.50%	11.65%
	62	248	242	180	232	283	318	224	304	233	177	209	441
Interest	5	5	5	5	5	5	5	5	6	6	6	6	6
Depreciation	169	175	183	185	193	194	197	192	193	197	204	204	205
Profit before Tax	1,095	1,397	1,417	1,350	1,493	1,600	1,592	1,442	1,487	1,854	1,777	1,855	1,956
Tax %	24.67%	24.56%	24.25%	24.71%	24.83%	24.79%	24.43%	25.06%	24.30%	24.86%	24.09%	24.46%	25.63%
Net Profit	825	1,054	1,073	1,016	1,123	1,204	1,203	1,081	1,126	1,393	1,349	1,401	1,454
	41.27	52.72	53.70	50.84	56.15	60.18	60.15	54.06	56.28	69.62	67.40	70.04	72.69

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	28,500	32,230	33,651	28,836	30,801	29,245	33,806	37,456	40,756	46,830	50,250
	23,915	27,028	28,847	25,059	26,878	25,979	29,944	32,358	35,108	40,160	43,246
Operating Profit	4,586	5,203	4,804	3,777	3,922	3,267	3,862	5,097	5,649	6,670	7,004
OPM %	16.09%	16.14%	14.28%	13.10%	12.73%	11.17%	11.42%	13.61%	13.86%	14.24%	13.94%
	522	526	691	1,456	580	557	565	733	1,097	922	1,059
Interest	6	6	9	22	22	26	20	18	20	23	23
Depreciation	444	478	476	637	580	548	533	553	598	597	811
Profit before Tax	4,658	5,244	5,011	4,574	3,900	3,250	3,875	5,258	6,128	6,972	7,441
Tax %	27.51%	29.50%	32.45%	20.56%	24.00%	23.91%	24.88%	24.54%	24.77%	24.44%	24.78%
Net Profit	3,377	3,697	3,385	3,633	2,964	2,473	2,911	3,968	4,610	5,268	5,597
EPS	169.12	185.13	169.47	181.91	148.37	123.74	145.52	198.50	230.50	263.28	—
Dividend Payout %	50.26%	51.31%	51.34%	49.48%	70.77%	76.75%	68.66%	70.53%	71.58%	70.27%	—

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: 9%
3 Years:: 11%

COMPOUNDED PROFIT GROWTH

10 Years:: 5%
5 Years:: 12%
3 Years:: 22%

STOCK PRICE CAGR

10 Years:: 4%
5 Years:: 14%
3 Years:: 20%
1 Year:: -1%

RETURN ON EQUITY

10 Years:: 25%
5 Years:: 21%
3 Years:: 24%
Last Year:: 26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	10,067	11,722	12,808	14,081	15,139	15,719	16,629	17,901	19,723	21,496
	0	0	0	122	276	297	331	290	268	248
Trade Payables	3,247	3,319	3,355	3,031	5,205	4,260	4,704	5,528	5,566	7,519
	2,422	3,105	3,030	2,550	2,419	2,194	2,497	3,067	3,762	4,465
Total Liabilities	15,776	18,186	19,233	19,823	23,079	22,510	24,202	26,825	29,359	33,768
	4,396	4,655	4,619	6,117	5,988	5,806	5,761	5,834	5,901	5,966
Capital Work in Progress	271	204	361	160	178	87	129	121	107	225
	5,890	7,525	5,969	8,223	10,500	10,652	11,010	13,086	14,910	19,397
	656	824	1,072	1,092	1,470	1,123	1,434	1,444	1,458	1,858
	0	0	0	0	0	0	0	2,703	3,674	2,593
Cash & Bank	137	141	136	242	257	175	346	609	353	604
	4,427	4,837	7,076	3,989	4,686	4,666	5,522	3,028	2,956	3,125
Total Assets	15,776	18,186	19,233	19,823	23,079	22,510	24,202	26,825	29,359	33,768

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5,214	5,475	3,030	5,954	5,149	2,789	3,429	4,907	4,182	8,315
Cash from Investing	-1,944	-1,915	1,321	-2,883	-2,210	-152	-469	-1,802	-1,586	-4,505
Cash from Financing	-2,096	-2,047	-2,294	-2,420	-1,941	-1,939	-2,041	-2,733	-2,847	-3,567
	-12	19	6	107	21	-71	70	372	-251	243

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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

2026-09-10

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).

2026-08-25

Acquisition

2026-08-25 - Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please refer to the attached disclosure regarding update on investment in Ather Energy Limited.

News

Recent coverage and analyst commentary for HEROMOTOCO

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Hero MotoCorp Ltd.

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Name

BAJAJ-AUTO

11795.00

27.56

324131.13

1.27

3188.75

44.26

21688.83

71.50

28.68

20.88

EICHERMOT

7749.70

36.85

212746.09

1.06

1462.51

21.35

6632.42

34.11

30.54

26.51

TVSMOTOR

4152.00

57.55

197256.17

0.29

1057.61

64.52

16295.52

33.46

18.24

14.38

HEROMOTOCO

5238.00

19.24

104833.96

3.53

1417.93

-91.69

13126.35

34.94

35.92

12.97

ATHERENERG

1583.00

0.00

62782.37

0.00

-510.90

—

12169.20

—

-21.59

-2.73

OLAELEC

37.31

0.00

17268.59

0.00

-336.00

21.50

455.00

-45.05

-20.87

-36.26

ATULAUTO

456.50

26.82

1266.85

0.66

8.04

290.29

218.43

44.73

11.27

7.72

URJA

9.06

461.45

504.83

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

8,767

9,445

9,724

9,519

10,144

10,463

10,211

9,939

9,579

12,126

12,328

12,797

12,999

7,561

8,117

8,362

8,160

8,684

8,947

8,734

8,523

8,197

10,303

10,518

10,941

11,484

Operating Profit

1,206

1,328

1,362

1,359

1,460

1,516

1,476

1,416

1,382

1,823

1,810

1,856

1,515

OPM %

13.76%

14.06%

14.01%

14.28%

14.39%

14.49%

14.46%

14.24%

14.42%

15.04%

14.68%

14.50%

11.65%

248

242

180

232

283

318

224

304

233

177

209

441

Interest

Depreciation

169

175

183

185

193

194

197

192

193

197

204

205

Profit before Tax

1,095

1,397

1,417

1,350

1,493

1,600

1,592

1,442

1,487

1,854

1,777

1,855

1,956

Tax %

24.67%

24.56%

24.25%

24.71%

24.83%

24.79%

24.43%

25.06%

24.30%

24.86%

24.09%

24.46%

25.63%

Net Profit

825

1,054

1,073

1,016

1,123

1,204

1,203

1,081

1,126

1,393

1,349

1,401

1,454

41.27

52.72

53.70

50.84

56.15

60.18

60.15

54.06

56.28

69.62

67.40

70.04

72.69

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

28,500

32,230

33,651

28,836

30,801

29,245

33,806

37,456

40,756

46,830

50,250

23,915

27,028

28,847

25,059

26,878

25,979

29,944

32,358

35,108

40,160

43,246

Operating Profit

4,586

5,203

4,804

3,777

3,922

3,267

3,862

5,097

5,649

6,670

7,004

OPM %

16.09%

16.14%

14.28%

13.10%

12.73%

11.17%

11.42%

13.61%

13.86%

14.24%

13.94%

522

526

691

1,456

580

557

565

733

1,097

922

1,059

Interest

Depreciation

444

478

476

637

580

548

533

553

598

597

811

Profit before Tax

4,658

5,244

5,011

4,574

3,900

3,250

3,875

5,258

6,128

6,972

7,441

Tax %

27.51%

29.50%

32.45%

20.56%

24.00%

23.91%

24.88%

24.54%

24.77%

24.44%

24.78%

Net Profit

3,377

3,697

3,385

3,633

2,964

2,473

2,911

3,968

4,610

5,268

5,597

EPS

169.12

185.13

169.47

181.91

148.37

123.74

145.52

198.50

230.50

263.28

—

Dividend Payout %

50.26%

51.31%

51.34%

49.48%

70.77%

76.75%

68.66%

70.53%

71.58%

70.27%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

10,067

11,722

12,808

14,081

15,139

15,719

16,629

17,901

19,723

21,496

122

276

297

331

290

268

248

Trade Payables

3,247

3,319

3,355

3,031

5,205

4,260

4,704

5,528

5,566

7,519

2,422

3,105

3,030

2,550

2,419

2,194

2,497

3,067

3,762

4,465

Total Liabilities

15,776

18,186

19,233

19,823

23,079

22,510

24,202

26,825

29,359

33,768

4,396

4,655

4,619

6,117

5,988

5,806

5,761

5,834

5,901

5,966

Capital Work in Progress

271

204

361

160

178

129

121

107

225

5,890

7,525

5,969

8,223

10,500

10,652

11,010

13,086

14,910

19,397

656

824

1,072

1,092

1,470

1,123

1,434

1,444

1,458

1,858

2,703

3,674

2,593

Cash & Bank

137

141

136

242

257

175

346

609

353

604

4,427

4,837

7,076

3,989

4,686

4,666

5,522

3,028

2,956

3,125

Total Assets

15,776

18,186

19,233

19,823

23,079

22,510

24,202

26,825

29,359

33,768

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

5,214

5,475

3,030

5,954

5,149

2,789

3,429

4,907

4,182

8,315

Cash from Investing

-1,944

-1,915

1,321

-2,883

-2,210

-152

-469

-1,802

-1,586

-4,505

Cash from Financing

-2,096

-2,047

-2,294

-2,420

-1,941

-1,939

-2,041

-2,733

-2,847

-3,567

-12

107

-71

372

-251

243

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