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Hero MotoCorp Ltd

Updated on January 19, 2020

Stock/Share Code - HEROMOTOCO

Hero MotoCorp is engaged in the manufacturing and selling of motorised two-wheelers, spare parts and related services along with providing non-banking financial services.(Source : 201903 Annual Report Page No: 202)

Below is the details of HEROMOTOCO Hero MotoCorp Ltd

Market Cap₹48,607 Cr.
Current Price ₹2,330 as on 10 Dec 19
52 Week High / Low Price₹3,382.7 / ₹2,225.6
Face Value₹2
Stock P/E15.25
Book Value₹711.46
Dividend Yield3.58 %
ROCE39.64 %
ROE26.73 %
Sales Growth (3yrs)5.76 %
SectorAutomobile
IndustryAutomobiles - Motorcycles / Mopeds
Listed onBSE  AND  NSE
Company WebsiteCompany Website
Pros: Company is virtually debt free. Stock is providing a good dividend yield of 3.58%. Promoter's stake has increased Company has a good return on equity (ROE) track record: 3 Years ROE 30.94% Company has been maintaining a healthy dividend payout of 50.97%
Cons: The company has delivered a poor growth of 5.89% over past five years. Promoter holding is low: 34.63% Earnings include an other income of Rs.1455.89 Cr.

Hero MotoCorp Ltd Price Chart

Hero MotoCorp Ltd Price Chart

Hero MotoCorp Ltd Peer Comparison in Automobile

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Qtr Sales Var % Sales Qtr Rs.Cr. ROCE %
1. Eicher Motors ₹21,259.2 29.72 ₹62,476.66 Cr. 0.55 ₹572.69 Cr. 4.36 -8.96 2192.47 40.59
2. Hero Motocorp 15.25 ₹48,607.06 Cr. 3.58 ₹874.8 Cr. -5.51 -16.72 7570.70 39.64
3. TVS Motor Co. ₹436.1 32.90 ₹22,674.15 Cr. 0.73 ₹253.57 Cr. -3.21 -9.27 4960.27 15.83

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Hero MotoCorp Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019
Sales6,3656,9237,9808,3727,3148,5648,8109,0917,8657,8858,0307,571
YOY Sales Growth %-11.89%-7.76%7.86%7.38%14.92%23.71%10.39%8.59%7.53%-7.93%-8.85%-16.72%
Expenses5,2855,9656,6856,9166,1567,1937,4337,7126,7606,8166,8726,470
Material Cost %64.86%68.52%67.7%68.18%67.41%67.64%69.98%69.3%68.84%68.97%69.64%67.7%
Employee Cost %5.88%4.74%4.68%4.58%5.5%4.45%4.69%4.78%5.54%5.67%5.82%6.19%
Operating Profit1,0809581,2961,4561,1581,3711,3771,3791,1051,0691,1581,101
OPM %17%14%16%17%16%16%16%15%14%14%14%15%
Other Income132118132118110166116224188164956148
Interest212222222248
Depreciation125135133136138148148152152150236203
Profit before tax1,0859391,2931,4361,1281,3871,3431,4481,1381,0811,8741,038
Tax %29%24%29%30%29%30%32%33%32%32%33%16%
Net Profit7727189141,0108059679099767697301,257875
EPS in Rs38.6635.9445.7750.6040.3348.4445.5248.8838.5236.5762.9543.80
NotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019TTM
Sales10,33512,31915,75819,39823,57923,76825,27527,58528,44328,50032,23033,65131,351
Sales Growth %4.45%19.2%27.92%23.1%21.55%0.8%6.34%9.14%3.11%0.2%13.09%4.41%%
Expenses9,00510,63513,09616,86519,96020,48421,73524,19823,98823,86626,95028,72026,918
Material Cost %71.66%70.96%68.13%72.75%73.29%73.2%72.12%71.61%67.89%66.8%67.75%69.29%%
Manufacturing Cost %1.47%1.52%1.42%1.37%1.27%1.44%1.46%1.46%1.17%1.11%1.18%1.21%%
Employee Cost %3.11%3.01%2.78%3.19%3.12%3.45%3.68%4.25%4.63%4.9%4.78%5.14%%
Other Cost %10.9%10.84%10.77%9.64%6.97%8.09%8.73%10.4%10.65%10.93%9.92%9.7%%
Operating Profit1,3301,6842,6622,5333,6193,2843,5403,3874,4554,6355,2804,9304,433
OPM %13%14%17%13%15%14%14%12%16%16%16%15%14%
Other Income2432803632903653984464934225225266911,456
Interest2321521121211566916
Depreciation1601811914021,0971,1421,107540438493556602742
Profit before tax1,4101,7812,8322,4052,8652,5292,8673,3294,4354,6585,2445,0115,131
Tax %31%28%21%20%17%16%26%28%29%28%30%32%
Net Profit9681,2822,2321,9282,3782,1182,1092,3863,1603,3773,6973,3853,632
EPS in Rs45.2460.7993.1879.51111.7995.8794.56108.26144.00169.11185.15169.46181.84
Dividend Payout %39%31%98%109%38%57%62%50%46%50%51%51%

Compounded Sales Growth

  • 10 Years:: 10.57%
  • 5 Years:: 5.89%
  • 3 Years:: 5.76%
  • TTM:: -7.19%

Compounded Profit Growth

  • 10 Years:: 10.80%
  • 5 Years:: 11.55%
  • 3 Years:: 2.77%
  • TTM:: -12.88%

Return on Equity

  • 10 Years:: 3.69%
  • 5 Years:: -5.47%
  • 3 Years:: -8.63%
  • 1 Year:: -20.35%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Sep 2019
Share Capital40404040404040404040404040
Equity Capital39.9439.9439.9439.9439.9439.9439.9439.9439.9439.9439.9439.9539.95
Reserves2,9463,7613,4252,9164,2504,9665,5606,5018,79410,07111,72912,81714,171
Borrowings1327866693719642284000000
Other Liabilities1,9552,2064,9927,0834,8864,0014,2183,9873,7964,6455,0364,8495,562
Trade Payables756.07703.031111.442073.32293.171873.342290.592841.872786.83447.613389.433455.553866.81
Total Liabilities5,0746,0858,52310,7329,8959,64910,10210,52812,63114,75716,80517,70619,773
Fixed Assets1,1561,5741,6594,0803,7863,0712,2432,9133,5844,3964,6554,6195,239
Gross Block1938.782516.272750.985538.466308.266685.076908.948114.039126.3310377.2211134.4111628.23
Accumulated Depreciation782.52942.561092.21458.182522.753614.094665.695201.345541.985981.636479.877009.65
CWIP40812148503962854713605465318542727
Investments2,5673,3693,9265,1293,9643,6244,0893,1544,5815,8907,5255,9696,989
Other Assets9421,0222,8901,4732,1072,8922,9163,7493,8604,0064,3076,5776,817
Inventories317.1326.83436.4524.93675.57636.76669.55815.49672.98656.31823.581072.371222.58
Trade receivables297.44149.94108.39130.59272.31665920.581389.591282.81561.871520.182821.573411.66
Cash Equivalents131.09219.571907.2171.5276.82181.04117.5159.25131.36136.73141.34136.46685.02
Loans n Advances196.37325.8438.46387.46522.45592.78683.14707.32652.69619.87837.98982.7588.9
Other Assets etc000358.72559.65816.5525.2677.011119.981031.44983.611563.61409.05
Total Assets5,0746,0858,52310,7329,8959,64910,10210,52812,63114,75716,80517,70619,773

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Cash from Operating Activity1,2121,3592,6872,2542,3601,8902,9632,2503,8494,0283,981979
Profit from operations1392.561762.162777.12550.623633.053290.993558.363586.324575.134815.225315.084949.36
Working Capital Changes261.2198.5484.59184.74-690.61-787.2454.5-336.55377.24399.28160.06-1918.86
Taxes paid-441.99-501.63-575.05-481.2-582.66-613.32-649.45-999.77-1103.23-1186.48-1494.28-2051.45
Cash from Investing Activity-781-861-528-1,32293-733-1,61712-2,206-1,944-1,9151,321
Fixed Assets Purchased-374.92-315.08-211.57-364.12-565.05-607.64-936.8-1155.68-1467.04-1150.69-801.84-922.01
Fixed Assets Sold1.031.541.483.1161.657.254.052.716.651.622.614.08
Investments purchased-14166.47-18711.84-23134.78-999.4000-19289.84-27611.59-28991.5-34780.58-35919.01
Investments sold13703.8618042.6522771.4801443.02680.7-8.662064426956.6928274.0833599.3838476.69
Cash from Financing Activity-432-500-2,109-955-2,458-1,056-1,415-2,231-1,687-2,096-2,047-2,294
Proceeds from Shares000000000.561.452.661.98
Repayment of Borrowings-33.17-53.51-12.46000000000
Interest Paid-2-2.53-2.1-15.17-21.3-11.91-11.82-11.09-4.89-6.05-6.25-8.6
Dividends Paid-339.47-379.41-1996.88-599.06-2096.72-898.59-1199.29-1897.03-1397.81-1737.34-1697.5-1897.35
Net Cash Flow-1-249-23-6101-6932-44-12196

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Ratios

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
ROCE %45%47%71%64%60%42%45%51%55%48%46%40%
Debtor Days10432410131816201731
Inventory Turnover34.8838.2641.2940.3639.2836.2238.7037.1538.2242.8843.5635.50

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Disclaimer:
All efforts have been made to ensure the information provided here is accurate as per time to time filling by company to exchanges. However, no guarantees are made regarding correctness of data. Investors are advised to validate/check information with exchanges or companies website before making any investment decisions.