Hero MotoCorp Ltd.
•₹ 5,735-0.1%
2026-08-21
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
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | BAJAJ-AUTO | 11700.00 | 27.34 | 321520.49 | 1.28 | 3188.75 | 44.26 | 21688.83 | 71.50 | 28.68 | 20.88 |
| 2. | EICHERMOT | 7961.75 | 37.86 | 218567.32 | 1.03 | 1462.51 | 21.35 | 6632.42 | 34.11 | 30.54 | 26.51 |
| 3. | TVSMOTOR | 4362.00 | 60.46 | 207233.00 | 0.28 | 1057.61 | 64.52 | 16295.52 | 33.46 | 18.24 | 14.38 |
| 4. | HEROMOTOCO | 5695.00 | 20.92 | 113980.42 | 3.25 | 1417.93 | -91.69 | 13126.35 | 34.94 | 35.92 | 12.97 |
| 5. | ATHERENERG | 1463.90 | 0.00 | 56753.76 | 0.00 | -510.90 | — | 12169.20 | — | -21.59 | -2.73 |
| 6. | OLAELEC | 37.28 | 0.00 | 17254.71 | 0.00 | -336.00 | 21.50 | 455.00 | -45.05 | -30.33 | -36.26 |
| 7. | ATULAUTO | 489.10 | 28.73 | 1357.32 | 0.61 | 8.04 | 290.29 | 218.43 | 44.73 | 6.60 | 7.72 |
| 8. | URJA | 9.33 | 475.20 | 519.87 | 0.00 | 0.43 | -55.42 | 13.96 | -26.55 | 1.47 | 3.99 |
| 9. | WARDINMOBI | 6.25 | 199.59 | 188.01 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 226 | 208 | 244 | 177 | 225 | 239 | 306 | 274 | 310 | 240 | 298 | 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 |
| 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 |
| 36 | 50 | 55 | 47 | 52 | 53 | 55 | 58 | 85 | 65 | 63 | 73 | 7 | |
| Equity Capital | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 8,851
- 7,639
- Operating Profit
- —
- OPM %
- —
- Other Income
- 226
- Interest
- 21
- Depreciation
- 180
- 1,076
- Tax %
- 26.14%
- Net Profit
- 701
- 36
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 9,533
- 8,174
- Operating Profit
- —
- OPM %
- —
- Other Income
- 208
- Interest
- 25
- Depreciation
- 187
- 1,356
- Tax %
- 26.04%
- Net Profit
- 1,007
- 50
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 9,788
- 8,403
- Operating Profit
- —
- OPM %
- —
- Other Income
- 244
- Interest
- 23
- Depreciation
- 194
- 1,412
- Tax %
- 25.85%
- Net Profit
- 0
- 55
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 9,617
- 8,223
- Operating Profit
- —
- OPM %
- —
- Other Income
- 177
- Interest
- 8
- Depreciation
- 197
- 1,367
- Tax %
- 25.51%
- Net Profit
- 0
- 47
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 10,211
- 8,750
- Operating Profit
- —
- OPM %
- —
- Other Income
- 225
- Interest
- 19
- Depreciation
- 205
- 1,462
- Tax %
- 25.68%
- Net Profit
- 1,032
- 52
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 10,483
- 8,947
- Operating Profit
- —
- OPM %
- —
- Other Income
- 239
- Interest
- 18
- Depreciation
- 206
- 1,550
- Tax %
- 25.64%
- Net Profit
- 1,066
- 53
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 10,260
- 8,752
- Operating Profit
- —
- OPM %
- —
- Other Income
- 306
- Interest
- 17
- Depreciation
- 209
- 1,589
- Tax %
- 24.46%
- Net Profit
- 1,108
- 55
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 9,970
- 8,529
- Operating Profit
- —
- OPM %
- —
- Other Income
- 274
- Interest
- 17
- Depreciation
- 204
- 1,494
- Tax %
- 26.52%
- Net Profit
- 1,169
- 58
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 9,728
- 8,315
- Operating Profit
- —
- OPM %
- —
- Other Income
- 310
- Interest
- 21
- Depreciation
- 206
- 1,497
- Tax %
- 28.09%
- Net Profit
- 17,056
- 85
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 12,218
- 10,354
- Operating Profit
- —
- OPM %
- —
- Other Income
- 240
- Interest
- 19
- Depreciation
- 210
- 1,875
- Tax %
- 24.32%
- Net Profit
- 1,321
- 65
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 12,487
- 10,641
- Operating Profit
- —
- OPM %
- —
- Other Income
- 298
- Interest
- 20
- Depreciation
- 219
- 1,787
- Tax %
- 23.34%
- Net Profit
- 1,275
- 63
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 12,978
- 11,056
- Operating Profit
- —
- OPM %
- —
- Other Income
- 210
- Interest
- 19
- Depreciation
- 220
- 1,893
- Tax %
- 19.37%
- Net Profit
- 1,474
- 73
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 13,126
- 11,621
- Operating Profit
- —
- OPM %
- —
- Other Income
- 460
- Interest
- 21
- Depreciation
- 220
- 1,921
- Tax %
- 26.18%
- Net Profit
- 1,418
- 7
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 40
- Reserves
- 0
- Promoter Pledge %
- 0.00%
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 | 5,098 | 5,848 | 5,579 | 4,610 | 4,560 | 3,898 | 4,538 | 6,046 | 6,812 | 7,902 | — |
| OPM % | 18 | 18 | 16 | 16 | 15 | 13 | 13 | 16 | 17 | 17 | — |
| Other Income | 522 | 523 | 687 | 731 | 558 | 555 | 569 | 867 | 1,044 | 1,058 | 1,208 |
| Interest | 27 | 31 | 37 | 47 | 46 | 53 | 105 | 76 | 71 | 78 | 79 |
| Depreciation | 502 | 575 | 498 | 664 | 618 | 587 | 573 | 599 | 647 | 654 | 869 |
| 4,885 | 5,292 | 5,104 | 4,611 | 3,849 | 3,058 | 3,864 | 5,090 | 5,934 | 7,436 | 7,475 | |
| Tax % | 27 | 30 | 32 | 21 | 24 | 24 | 28 | 26 | 26 | 22 | 23 |
| 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 | 186 | 172 | 182 | 146 | 116 | 140 | 187 | 219 | 287 | — |
| Dividend Payout % | 47 | 51 | 50 | 49 | 72 | 82 | 71 | 75 | 75 | 64 | — |
| Minority Interest | 38 | -2 | -22 | -21 | -18 | -12 | 10 | 3 | 3 | -34 | -4 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -289 |
| Adjusted EPS | 179 | 186 | 172 | 182 | 146 | 116 | 141 | 187 | 219 | 287 | — |
| Minority Interest | 38 | -2 | -22 | -21 | -18 | -12 | 10 | 3 | 3 | -34 | -4 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -289 |
| Adjusted EPS | 179 | 186 | 172 | 182 | 146 | 116 | 141 | 187 | 219 | 287 | — |
Mar 2017
- 28,610
- 24,034
- Operating Profit
- 5,098
- OPM %
- 18
- Other Income
- 522
- Interest
- 27
- Depreciation
- 502
- 4,885
- Tax %
- 27
- Net Profit
- 3,546
- EPS
- 179
- Dividend Payout %
- 47
- Minority Interest
- 38
- Share of Associates
- 0
- Adjusted EPS
- 179
- Minority Interest
- 38
- Share of Associates
- 0
- Adjusted EPS
- 179
Mar 2018
- 32,458
- 27,133
- Operating Profit
- 5,848
- OPM %
- 18
- Other Income
- 523
- Interest
- 31
- Depreciation
- 575
- 5,292
- Tax %
- 30
- Net Profit
- 3,722
- EPS
- 186
- Dividend Payout %
- 51
- Minority Interest
- -2
- Share of Associates
- 0
- Adjusted EPS
- 186
- Minority Interest
- -2
- Share of Associates
- 0
- Adjusted EPS
- 186
Mar 2019
- 33,971
- 29,079
- Operating Profit
- 5,579
- OPM %
- 16
- Other Income
- 687
- Interest
- 37
- Depreciation
- 498
- 5,104
- Tax %
- 32
- Net Profit
- 3,466
- EPS
- 172
- Dividend Payout %
- 50
- Minority Interest
- -22
- Share of Associates
- 0
- Adjusted EPS
- 172
- Minority Interest
- -22
- Share of Associates
- 0
- Adjusted EPS
- 172
Mar 2020
- 29,254
- 25,374
- Operating Profit
- 4,610
- OPM %
- 16
- Other Income
- 731
- Interest
- 47
- Depreciation
- 664
- 4,611
- Tax %
- 21
- Net Profit
- 3,659
- EPS
- 182
- Dividend Payout %
- 49
- Minority Interest
- -21
- Share of Associates
- 0
- Adjusted EPS
- 182
- Minority Interest
- -21
- Share of Associates
- 0
- Adjusted EPS
- 182
Mar 2021
- 30,959
- 26,957
- Operating Profit
- 4,560
- OPM %
- 15
- Other Income
- 558
- Interest
- 46
- Depreciation
- 618
- 3,849
- Tax %
- 24
- Net Profit
- 2,936
- EPS
- 146
- Dividend Payout %
- 72
- Minority Interest
- -18
- Share of Associates
- 0
- Adjusted EPS
- 146
- Minority Interest
- -18
- Share of Associates
- 0
- Adjusted EPS
- 146
Mar 2022
- 29,551
- 26,209
- Operating Profit
- 3,898
- OPM %
- 13
- Other Income
- 555
- Interest
- 53
- Depreciation
- 587
- 3,058
- Tax %
- 24
- Net Profit
- 2,329
- EPS
- 116
- Dividend Payout %
- 82
- Minority Interest
- -12
- Share of Associates
- 0
- Adjusted EPS
- 116
- Minority Interest
- -12
- Share of Associates
- 0
- Adjusted EPS
- 116
Mar 2023
- 34,158
- 30,189
- Operating Profit
- 4,538
- OPM %
- 13
- Other Income
- 569
- Interest
- 105
- Depreciation
- 573
- 3,864
- Tax %
- 28
- Net Profit
- 2,800
- EPS
- 140
- Dividend Payout %
- 71
- Minority Interest
- 10
- Share of Associates
- 0
- Adjusted EPS
- 141
- Minority Interest
- 10
- Share of Associates
- 0
- Adjusted EPS
- 141
Mar 2024
- 37,789
- 32,610
- Operating Profit
- 6,046
- OPM %
- 16
- Other Income
- 867
- Interest
- 76
- Depreciation
- 599
- 5,090
- Tax %
- 26
- Net Profit
- 3,742
- EPS
- 187
- Dividend Payout %
- 75
- Minority Interest
- 3
- Share of Associates
- 0
- Adjusted EPS
- 187
- Minority Interest
- 3
- Share of Associates
- 0
- Adjusted EPS
- 187
Mar 2025
- 40,923
- 35,156
- Operating Profit
- 6,812
- OPM %
- 17
- Other Income
- 1,044
- Interest
- 71
- Depreciation
- 647
- 5,934
- Tax %
- 26
- Net Profit
- 4,376
- EPS
- 219
- Dividend Payout %
- 75
- Minority Interest
- 3
- Share of Associates
- 0
- Adjusted EPS
- 219
- Minority Interest
- 3
- Share of Associates
- 0
- Adjusted EPS
- 219
Mar 2026
- 47,411
- 40,567
- Operating Profit
- 7,902
- OPM %
- 17
- Other Income
- 1,058
- Interest
- 78
- Depreciation
- 654
- 7,436
- Tax %
- 22
- Net Profit
- 5,776
- EPS
- 287
- Dividend Payout %
- 64
- Minority Interest
- -34
- Share of Associates
- 0
- Adjusted EPS
- 287
- Minority Interest
- -34
- Share of Associates
- 0
- Adjusted EPS
- 287
TTM
- 50,810
- 43,673
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1,208
- Interest
- 79
- Depreciation
- 869
- 7,475
- Tax %
- 23
- Net Profit
- 5,733
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- -4
- Share of Associates
- -289
- Adjusted EPS
- —
- Minority Interest
- -4
- Share of Associates
- -289
- Adjusted EPS
- —
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:
- 6%
- 5 Years:
- 16%
- 3 Years:
- 25%
- 1 Year:
- 12%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 40 |
| 10,272 | 11,925 | 13,071 | 14,351 | 15,357 | 15,782 | 16,580 | 17,613 | 19,188 | 21,529 | |
| 40 | 75 | 184 | 166 | 285 | 297 | 267 | 344 | 457 | 499 | |
| Trade Payables | 3,266 | 3,375 | 3,438 | 3,128 | 5,264 | 4,343 | 4,760 | 5,623 | 5,700 | 7,676 |
| 2,776 | 3,432 | 3,371 | 3,089 | 3,074 | 2,853 | 3,249 | 3,812 | 4,471 | 5,232 | |
| Total Liabilities | 16,394 | 18,848 | 20,104 | 20,773 | 24,020 | 23,315 | 24,896 | 27,431 | 29,856 | 34,976 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 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 |
| Total Debt | 261 | 228 | 312 | 212 | 342 | 353 | 313 | 363 | 457 | 499 |
| Net Working Capital | 3,394 | 4,521 | 4,004 | 4,370 | 4,866 | 5,055 | 3,423 | 3,267 | 5,958 | 9,000 |
| Contingent Liabilities | 104 | 104 | 122 | 76 | 88 | 123 | 129 | 225 | 252 | 83 |
| Book Value per Share | 516.36 | 599.13 | 656.36 | 720.44 | 770.64 | 791.90 | 831.62 | 883.11 | 961.41 | 1077.91 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Total Debt | 261 | 228 | 312 | 212 | 342 | 353 | 313 | 363 | 457 | 499 |
| Net Working Capital | 3,394 | 4,521 | 4,004 | 4,370 | 4,866 | 5,055 | 3,423 | 3,267 | 5,958 | 9,000 |
| Contingent Liabilities | 104 | 104 | 122 | 76 | 88 | 123 | 129 | 225 | 252 | 83 |
| Book Value per Share | 516.36 | 599.13 | 656.36 | 720.44 | 770.64 | 791.90 | 831.62 | 883.11 | 961.41 | 1077.91 |
| Face Value | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
Mar 2017
- Equity Capital
- 40
- 10,272
- 40
- Trade Payables
- 3,266
- 2,776
- Total Liabilities
- 16,394
- 4,599
- Capital Work in Progress
- 386
- 6,066
- 709
- 0
- Cash & Bank
- 195
- 4,439
- Total Assets
- 16,394
- Total Debt
- 261
- Net Working Capital
- 3,394
- Contingent Liabilities
- 104
- Book Value per Share
- 516.36
- Face Value
- 2.00
- Total Debt
- 261
- Net Working Capital
- 3,394
- Contingent Liabilities
- 104
- Book Value per Share
- 516.36
- Face Value
- 2.00
Mar 2018
- Equity Capital
- 40
- 11,925
- 75
- Trade Payables
- 3,375
- 3,432
- Total Liabilities
- 18,848
- 4,961
- Capital Work in Progress
- 239
- 7,669
- 963
- 0
- Cash & Bank
- 238
- 4,778
- Total Assets
- 18,848
- Total Debt
- 228
- Net Working Capital
- 4,521
- Contingent Liabilities
- 104
- Book Value per Share
- 599.13
- Face Value
- 2.00
- Total Debt
- 228
- Net Working Capital
- 4,521
- Contingent Liabilities
- 104
- Book Value per Share
- 599.13
- Face Value
- 2.00
Mar 2019
- Equity Capital
- 40
- 13,071
- 184
- Trade Payables
- 3,438
- 3,371
- Total Liabilities
- 20,104
- 4,952
- Capital Work in Progress
- 385
- 6,114
- 1,250
- 0
- Cash & Bank
- 304
- 7,099
- Total Assets
- 20,104
- Total Debt
- 312
- Net Working Capital
- 4,004
- Contingent Liabilities
- 122
- Book Value per Share
- 656.36
- Face Value
- 2.00
- Total Debt
- 312
- Net Working Capital
- 4,004
- Contingent Liabilities
- 122
- Book Value per Share
- 656.36
- Face Value
- 2.00
Mar 2020
- Equity Capital
- 40
- 14,351
- 166
- Trade Payables
- 3,128
- 3,089
- Total Liabilities
- 20,773
- 6,473
- Capital Work in Progress
- 205
- 8,359
- 1,282
- 0
- Cash & Bank
- 435
- 4,019
- Total Assets
- 20,773
- Total Debt
- 212
- Net Working Capital
- 4,370
- Contingent Liabilities
- 76
- Book Value per Share
- 720.44
- Face Value
- 2.00
- Total Debt
- 212
- Net Working Capital
- 4,370
- Contingent Liabilities
- 76
- Book Value per Share
- 720.44
- Face Value
- 2.00
Mar 2021
- Equity Capital
- 40
- 15,357
- 285
- Trade Payables
- 5,264
- 3,074
- Total Liabilities
- 24,020
- 6,380
- Capital Work in Progress
- 236
- 10,582
- 1,789
- 0
- Cash & Bank
- 396
- 4,636
- Total Assets
- 24,020
- Total Debt
- 342
- Net Working Capital
- 4,866
- Contingent Liabilities
- 88
- Book Value per Share
- 770.64
- Face Value
- 2.00
- Total Debt
- 342
- Net Working Capital
- 4,866
- Contingent Liabilities
- 88
- Book Value per Share
- 770.64
- Face Value
- 2.00
Mar 2022
- Equity Capital
- 40
- 15,782
- 297
- Trade Payables
- 4,343
- 2,853
- Total Liabilities
- 23,315
- 6,194
- Capital Work in Progress
- 149
- 10,528
- 1,472
- 0
- Cash & Bank
- 300
- 4,672
- Total Assets
- 23,315
- Total Debt
- 353
- Net Working Capital
- 5,055
- Contingent Liabilities
- 123
- Book Value per Share
- 791.90
- Face Value
- 2.00
- Total Debt
- 353
- Net Working Capital
- 5,055
- Contingent Liabilities
- 123
- Book Value per Share
- 791.90
- Face Value
- 2.00
Mar 2023
- Equity Capital
- 40
- 16,580
- 267
- Trade Payables
- 4,760
- 3,249
- Total Liabilities
- 24,896
- 6,159
- Capital Work in Progress
- 122
- 10,891
- 1,756
- 0
- Cash & Bank
- 423
- 5,544
- Total Assets
- 24,896
- Total Debt
- 313
- Net Working Capital
- 3,423
- Contingent Liabilities
- 129
- Book Value per Share
- 831.62
- Face Value
- 2.00
- Total Debt
- 313
- Net Working Capital
- 3,423
- Contingent Liabilities
- 129
- Book Value per Share
- 831.62
- Face Value
- 2.00
Mar 2024
- Equity Capital
- 40
- 17,613
- 344
- Trade Payables
- 5,623
- 3,812
- Total Liabilities
- 27,431
- 6,232
- Capital Work in Progress
- 127
- 12,751
- 1,756
- 2,630
- Cash & Bank
- 696
- 3,238
- Total Assets
- 27,431
- Total Debt
- 363
- Net Working Capital
- 3,267
- Contingent Liabilities
- 225
- Book Value per Share
- 883.11
- Face Value
- 2.00
- Total Debt
- 363
- Net Working Capital
- 3,267
- Contingent Liabilities
- 225
- Book Value per Share
- 883.11
- Face Value
- 2.00
Mar 2025
- Equity Capital
- 40
- 19,188
- 457
- Trade Payables
- 5,700
- 4,471
- Total Liabilities
- 29,856
- 6,283
- Capital Work in Progress
- 105
- 14,384
- 2,013
- 3,381
- Cash & Bank
- 574
- 3,115
- Total Assets
- 29,856
- Total Debt
- 457
- Net Working Capital
- 5,958
- Contingent Liabilities
- 252
- Book Value per Share
- 961.41
- Face Value
- 2.00
- Total Debt
- 457
- Net Working Capital
- 5,958
- Contingent Liabilities
- 252
- Book Value per Share
- 961.41
- Face Value
- 2.00
Mar 2026
- Equity Capital
- 40
- 21,529
- 499
- Trade Payables
- 7,676
- 5,232
- Total Liabilities
- 34,976
- 6,374
- Capital Work in Progress
- 245
- 19,286
- 2,650
- 2,340
- Cash & Bank
- 767
- 3,314
- Total Assets
- 34,976
- Total Debt
- 499
- Net Working Capital
- 9,000
- Contingent Liabilities
- 83
- Book Value per Share
- 1077.91
- Face Value
- 2.00
- Total Debt
- 499
- Net Working Capital
- 9,000
- Contingent Liabilities
- 83
- Book Value per Share
- 1077.91
- Face Value
- 2.00
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 4,007 | 4,017 | 1,032 | 5,518 | 4,110 | 2,104 | 2,614 | 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 | |
| Free Cash Flow | 2,683 | 3,284 | 344 | 3,430 | 3,543 | 1,815 | 2,075 | 4,269 | 3,547 | 7,381 |
| OCF / Net Profit | 1.13 | 1.08 | 0.30 | 1.51 | 1.40 | 0.90 | 0.93 | 1.32 | 0.98 | 1.44 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 13,284 | 12,417 | 11,207 | 15,132 | 15,250 | 19,087 |
| OCF / Net Profit | 1.13 | 1.08 | 0.30 | 1.51 | 1.40 | 0.90 | 0.93 | 1.32 | 0.98 | 1.44 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 13,284 | 12,417 | 11,207 | 15,132 | 15,250 | 19,087 |
Mar 2017
- 4,007
- Cash from Investing
- -1,972
- Cash from Financing
- -2,036
- -1
- Free Cash Flow
- 2,683
- OCF / Net Profit
- 1.13
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.13
- Cumulative 5-Year FCF
- 0
Mar 2018
- 4,017
- Cash from Investing
- -1,858
- Cash from Financing
- -2,102
- 57
- Free Cash Flow
- 3,284
- OCF / Net Profit
- 1.08
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.08
- Cumulative 5-Year FCF
- 0
Mar 2019
- 1,032
- Cash from Investing
- 1,298
- Cash from Financing
- -2,252
- 78
- Free Cash Flow
- 344
- OCF / Net Profit
- 0.30
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.30
- Cumulative 5-Year FCF
- 0
Mar 2020
- 5,518
- Cash from Investing
- -2,819
- Cash from Financing
- -2,602
- 97
- Free Cash Flow
- 3,430
- OCF / Net Profit
- 1.51
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.51
- Cumulative 5-Year FCF
- 0
Mar 2021
- 4,110
- Cash from Investing
- -2,289
- Cash from Financing
- -1,852
- -31
- Free Cash Flow
- 3,543
- OCF / Net Profit
- 1.40
- Cumulative 5-Year FCF
- 13,284
- OCF / Net Profit
- 1.40
- Cumulative 5-Year FCF
- 13,284
Mar 2022
- 2,104
- Cash from Investing
- -222
- Cash from Financing
- -1,975
- -94
- Free Cash Flow
- 1,815
- OCF / Net Profit
- 0.90
- Cumulative 5-Year FCF
- 12,417
- OCF / Net Profit
- 0.90
- Cumulative 5-Year FCF
- 12,417
Mar 2023
- 2,614
- Cash from Investing
- -421
- Cash from Financing
- -2,147
- 45
- Free Cash Flow
- 2,075
- OCF / Net Profit
- 0.93
- Cumulative 5-Year FCF
- 11,207
- OCF / Net Profit
- 0.93
- Cumulative 5-Year FCF
- 11,207
Mar 2024
- 4,923
- Cash from Investing
- -1,828
- Cash from Financing
- -2,717
- 379
- Free Cash Flow
- 4,269
- OCF / Net Profit
- 1.32
- Cumulative 5-Year FCF
- 15,132
- OCF / Net Profit
- 1.32
- Cumulative 5-Year FCF
- 15,132
Mar 2025
- 4,297
- Cash from Investing
- -1,703
- Cash from Financing
- -2,815
- -221
- Free Cash Flow
- 3,547
- OCF / Net Profit
- 0.98
- Cumulative 5-Year FCF
- 15,250
- OCF / Net Profit
- 0.98
- Cumulative 5-Year FCF
- 15,250
Mar 2026
- 8,315
- Cash from Investing
- -4,478
- Cash from Financing
- -3,534
- 303
- Free Cash Flow
- 7,381
- OCF / Net Profit
- 1.44
- Cumulative 5-Year FCF
- 19,087
- OCF / Net Profit
- 1.44
- Cumulative 5-Year FCF
- 19,087
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 179.48 | 186.30 | 172.42 | 182.13 | 146.03 | 115.96 | 140.60 | 187.34 | 218.92 | 286.94 |
| Book Value (₹) | 516.36 | 599.13 | 656.36 | 720.44 | 770.64 | 791.90 | 831.62 | 883.11 | 961.41 | 1077.91 |
| Dividend per Share (₹) | 85.00 | 95.00 | 87.00 | 90.00 | 105.00 | 95.00 | 100.00 | 140.00 | 165.00 | 185.00 |
| Cash EPS (₹) | 202.73 | 215.18 | 198.47 | 216.46 | 177.89 | 145.97 | 168.77 | 217.17 | 251.12 | 321.32 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 16.45% | 17.67% | 16.42% | 16.13% | 14.50% | 12.96% | 13.04% | 13.48% | 13.83% | 14.20% |
| Net Margin % | 11.45% | 11.24% | 10.20% | 12.81% | 9.34% | 7.74% | 8.04% | 9.74% | 10.49% | 11.98% |
| ROE % | 37.05% | 33.42% | 27.65% | 26.61% | 19.71% | 14.92% | 17.26% | 21.84% | 23.73% | 28.31% |
| ROCE % | 50.02% | 46.74% | 40.12% | 33.21% | 25.65% | 19.47% | 23.93% | 29.50% | 31.78% | 35.92% |
| 23.45% | 21.12% | 17.80% | 17.90% | 13.11% | 9.84% | 11.62% | 14.30% | 15.28% | 17.82% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 17 | 16 | 22 | 27 | 22 | 27 | 26 | 25 | 26 | 22 |
| Inventory Days | 9 | 9 | 12 | 16 | 18 | 20 | 17 | 17 | 16 | 18 |
| Payable Days | 57 | 55 | 53 | 60 | 70 | 84 | 69 | 74 | 77 | 77 |
| -31 | -30 | -19 | -17 | -31 | -37 | -27 | -32 | -34 | -38 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.03x | 0.02x | 0.02x | 0.01x | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x |
| Interest Coverage (x) | 180.08x | 172.82x | 138.29x | 99.87x | 83.94x | 58.59x | 37.84x | 67.65x | 84.99x | 96.00x |
| 1.81x | 2.01x | 1.91x | 2.02x | 1.75x | 1.92x | 1.57x | 1.46x | 1.80x | 1.79x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 0.54% | 13.45% | 4.66% | -13.89% | 5.83% | -4.55% | 15.59% | 10.63% | 8.30% | 15.85% |
| Operating Profit Growth % | 5.97% | 14.72% | -4.61% | -17.36% | -1.08% | -14.53% | 16.44% | 33.21% | 12.67% | 16.01% |
| Net Profit Growth % | 13.95% | 4.96% | -6.87% | 5.57% | -19.77% | -20.67% | 20.22% | 33.65% | 16.93% | 31.99% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 33.24% | 16.86% | 31.07% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 25.18x | 17.00x | 17.64x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 5.34x | 3.87x | 4.69x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.97% | 4.43% | 3.66% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 15.54x | 10.91x | 12.78x |
Mar 2017
- EPS (₹)
- 179.48
- Book Value (₹)
- 516.36
- Dividend per Share (₹)
- 85.00
- Cash EPS (₹)
- 202.73
- Operating Margin %
- 16.45%
- Net Margin %
- 11.45%
- ROE %
- 37.05%
- ROCE %
- 50.02%
- 23.45%
- Debtor Days
- 17
- Inventory Days
- 9
- Payable Days
- 57
- -31
- Debt to Equity (x)
- 0.03x
- Interest Coverage (x)
- 180.08x
- 1.81x
- Revenue Growth %
- 0.54%
- Operating Profit Growth %
- 5.97%
- Net Profit Growth %
- 13.95%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 186.30
- Book Value (₹)
- 599.13
- Dividend per Share (₹)
- 95.00
- Cash EPS (₹)
- 215.18
- Operating Margin %
- 17.67%
- Net Margin %
- 11.24%
- ROE %
- 33.42%
- ROCE %
- 46.74%
- 21.12%
- Debtor Days
- 16
- Inventory Days
- 9
- Payable Days
- 55
- -30
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 172.82x
- 2.01x
- Revenue Growth %
- 13.45%
- Operating Profit Growth %
- 14.72%
- Net Profit Growth %
- 4.96%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 172.42
- Book Value (₹)
- 656.36
- Dividend per Share (₹)
- 87.00
- Cash EPS (₹)
- 198.47
- Operating Margin %
- 16.42%
- Net Margin %
- 10.20%
- ROE %
- 27.65%
- ROCE %
- 40.12%
- 17.80%
- Debtor Days
- 22
- Inventory Days
- 12
- Payable Days
- 53
- -19
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 138.29x
- 1.91x
- Revenue Growth %
- 4.66%
- Operating Profit Growth %
- -4.61%
- Net Profit Growth %
- -6.87%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 182.13
- Book Value (₹)
- 720.44
- Dividend per Share (₹)
- 90.00
- Cash EPS (₹)
- 216.46
- Operating Margin %
- 16.13%
- Net Margin %
- 12.81%
- ROE %
- 26.61%
- ROCE %
- 33.21%
- 17.90%
- Debtor Days
- 27
- Inventory Days
- 16
- Payable Days
- 60
- -17
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 99.87x
- 2.02x
- Revenue Growth %
- -13.89%
- Operating Profit Growth %
- -17.36%
- Net Profit Growth %
- 5.57%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 146.03
- Book Value (₹)
- 770.64
- Dividend per Share (₹)
- 105.00
- Cash EPS (₹)
- 177.89
- Operating Margin %
- 14.50%
- Net Margin %
- 9.34%
- ROE %
- 19.71%
- ROCE %
- 25.65%
- 13.11%
- Debtor Days
- 22
- Inventory Days
- 18
- Payable Days
- 70
- -31
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 83.94x
- 1.75x
- Revenue Growth %
- 5.83%
- Operating Profit Growth %
- -1.08%
- Net Profit Growth %
- -19.77%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 115.96
- Book Value (₹)
- 791.90
- Dividend per Share (₹)
- 95.00
- Cash EPS (₹)
- 145.97
- Operating Margin %
- 12.96%
- Net Margin %
- 7.74%
- ROE %
- 14.92%
- ROCE %
- 19.47%
- 9.84%
- Debtor Days
- 27
- Inventory Days
- 20
- Payable Days
- 84
- -37
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 58.59x
- 1.92x
- Revenue Growth %
- -4.55%
- Operating Profit Growth %
- -14.53%
- Net Profit Growth %
- -20.67%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 140.60
- Book Value (₹)
- 831.62
- Dividend per Share (₹)
- 100.00
- Cash EPS (₹)
- 168.77
- Operating Margin %
- 13.04%
- Net Margin %
- 8.04%
- ROE %
- 17.26%
- ROCE %
- 23.93%
- 11.62%
- Debtor Days
- 26
- Inventory Days
- 17
- Payable Days
- 69
- -27
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 37.84x
- 1.57x
- Revenue Growth %
- 15.59%
- Operating Profit Growth %
- 16.44%
- Net Profit Growth %
- 20.22%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 187.34
- Book Value (₹)
- 883.11
- Dividend per Share (₹)
- 140.00
- Cash EPS (₹)
- 217.17
- Operating Margin %
- 13.48%
- Net Margin %
- 9.74%
- ROE %
- 21.84%
- ROCE %
- 29.50%
- 14.30%
- Debtor Days
- 25
- Inventory Days
- 17
- Payable Days
- 74
- -32
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 67.65x
- 1.46x
- Revenue Growth %
- 10.63%
- Operating Profit Growth %
- 33.21%
- Net Profit Growth %
- 33.65%
- 33.24%
- P/E (x)
- 25.18x
- P/B (x)
- 5.34x
- Dividend Yield %
- 2.97%
- 15.54x
Mar 2025
- EPS (₹)
- 218.92
- Book Value (₹)
- 961.41
- Dividend per Share (₹)
- 165.00
- Cash EPS (₹)
- 251.12
- Operating Margin %
- 13.83%
- Net Margin %
- 10.49%
- ROE %
- 23.73%
- ROCE %
- 31.78%
- 15.28%
- Debtor Days
- 26
- Inventory Days
- 16
- Payable Days
- 77
- -34
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 84.99x
- 1.80x
- Revenue Growth %
- 8.30%
- Operating Profit Growth %
- 12.67%
- Net Profit Growth %
- 16.93%
- 16.86%
- P/E (x)
- 17.00x
- P/B (x)
- 3.87x
- Dividend Yield %
- 4.43%
- 10.91x
Mar 2026
- EPS (₹)
- 286.94
- Book Value (₹)
- 1077.91
- Dividend per Share (₹)
- 185.00
- Cash EPS (₹)
- 321.32
- Operating Margin %
- 14.20%
- Net Margin %
- 11.98%
- ROE %
- 28.31%
- ROCE %
- 35.92%
- 17.82%
- Debtor Days
- 22
- Inventory Days
- 18
- Payable Days
- 77
- -38
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 96.00x
- 1.79x
- Revenue Growth %
- 15.85%
- Operating Profit Growth %
- 16.01%
- Net Profit Growth %
- 31.99%
- 31.07%
- P/E (x)
- 17.64x
- P/B (x)
- 4.69x
- Dividend Yield %
- 3.66%
- 12.78x
Documents
Announcements
- Change in Management
2026-08-17 - Pursuant to Regulation 30 of the SEBI Listing Regulations, please refer to the disclosure document regarding change in management.
- Copy of Newspaper Publication
2026-08-15 - Please find enclosed herewith copies of the newspaper advertisement published regarding the issue of duplicate share certificates in lieu of original share certificates that are reported to be lost and not traceable.
Annual Reports
Credit Ratings
- Credit Rating
2026-01-08 - Hero MotoCorp Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
May 2026
Feb 2026