1. India Stocks

  2. •

    Consumer Cyclical

  3. •

    Auto - Manufacturers
Hero MotoCorp Limited

Hero MotoCorp Limited

HEROMOTOCO.BO
Hero MotoCorp LimitedIN flagBombay Stock Exchange
4,948.35
INR
+50.05
- -
992.90BMarket Cap
Hero MotoCorp Limited
HEROMOTOCO.BO
(Bombay Stock Exchange)

Recent

price

4,948.35

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
985.92
1,178.31
1,188.61
1,264.27
1,375.69
1,413.15
1,416.25
1,592.66
1,673.87
1,442.56
1,524.44
1,450.35
1,688.36
1,881.16
2,046.51
- -
2,369.89
Revenue per Share
96.55
119.09
106.07
105.3
118.42
157.34
179.49
186.3
172.45
182.15
146.07
115.96
140.62
187.36
218.96
- -
287.01
Basic EPS, GAAP
94.65
89.88
94.67
148.38
109.45
186.41
200.67
201.16
51.69
275.61
205.77
105.29
130.81
246.31
214.9
- -
- -
Free Cash Flow per Basic Share
30
105
45
60.06
95
70
87
85
96.57
97.98
96.03
95.46
100
135.19
140.01
- -
- -
Dividend per Share
148.03
129.13
154.24
172.65
247.95
308.41
382.47
465.04
522
585.39
635.21
655.67
695.75
746
823.54
- -
2
Book Value per Share
24.45
214.83
250.7
281.61
337.03
409.74
519.95
604.13
662.77
728.32
778.93
800.55
839.77
892.3
970.36
- -
1,036.96
Tangible Book Value per Share
200
200
200
200
200
200
200
200
200
200
200
200
200
200
200
- -
200
Basic Weighted Avg Shares
196,876
235,294
237,352
252,459
274,707
282,189
282,814
318,058
334,300
288,126
304,516
289,776
337,377
375,990
409,234
474,112
474,112
Sales/Revenue/Turnover
12.7
10.79
9.07
9.69
10.89
14.11
14.48
14.99
13.18
11.27
11.13
9.59
10.22
12.2
12.51
12.81
13.06
Operating Margin (%)
4,024
10,973
11,418
11,074
5,404
4,432
5,022
5,750
6,244
8,458
7,151
6,895
6,974
7,574
8,246
8,550
8,550
Depreciation Expense
19,279
23,781
21,182
21,027
23,647
31,420
35,843
37,204
34,441
36,381
29,178
23,169
28,100
37,448
43,785
57,417
57,417
Net Income, GAAP
19.83
16.99
16.25
26.47
28.66
29.06
27.41
29.67
32.09
20.64
23.73
23.84
27.53
26.48
26.25
22.32
22.32
Effective Tax Rate (%)
9.79
10.11
8.92
8.33
8.61
11.13
12.67
11.7
10.3
12.63
9.58
8
8.33
9.96
10.7
12.11
12.11
Profit Margin (%)
-2,449
4,895
9,069
11,347
21,587
27,318
33,938
45,209
40,040
43,701
48,660
50,546
34,227
32,671
59,579
90,002
90,002
Working Capital
14,710
10,114
- -
- -
120
1,460
2,079
1,496
1,248
2,516
2,576
2,517
2,398
1,991
1,962
2,191
2,191
LT Debt
29,561
42,898
50,062
56,235
74,212
88,887
103,829
120,647
132,365
145,469
155,596
159,947
167,806
178,346
194,041
218,110
218,110
Total Equity
50.37
40.37
30.95
31.18
31.95
34.09
30.14
29.3
23.2
18.1
16.7
13.02
14.83
18.98
19.74
22.09
22.53
Return on Invested Capital (%)
48.76
54.85
53
56.66
54.08
55.37
50.55
42.57
33.69
31.58
22.84
17.2
20.36
25.15
26.91
62.98
62.98
Return on Capital (%)
60.05
85.94
74.87
64.42
56.31
56.56
51.96
43.96
34.94
32.9
23.93
17.97
20.81
25.99
27.91
69.56
69.56
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
5,028
- -
5,596
LT Borrowings
- -
- -
- -
LT Finance Leases
2,153
- -
2,191
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
200
- -
200
Market Capitalization
1,094,953
1,154,230
1,012,356

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
185,488
- -
189,045
Cash, Cash Equivalents & STI
109,241
- -
130,869
Accounts Receivable, Net
42,528
- -
23,398
Inventories
26,294
- -
26,501
Total Current Liabilities
98,256
- -
99,043
Payables & Accruals
- -
- -
- -
ST Debt
5,028
- -
5,596
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.48%
7.04%
12.4%
Free Cash Flow
48.61%
28.91%
93.48%
Net Income, GAAP
7.83%
16.4%
31.14%
Sales/Revenue/Turnover
5.74%
9.55%
15.85%
Total Cash Common Dividend
10.34%
13.66%
25.27%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
88,510
95,331
97,879
94,271
375,990
2025
102,108
104,829
102,599
99,698
409,234
2026
97,278
122,184
124,868
129,783
474,112

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
35.54
50.34
54.71
- -
187.36
2025
52.31
53.19
55.38
58.08
218.96
2026
85.26
65.41
63.36
72.98
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
135.19
2025
- -
- -
- -
- -
140.01
2026
- -
- -
- -
- -
- -
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Business
Hero MotoCorp Limited (HEROMOTOCO.BO) manufactures and sells a wide range of two-wheelers, including motorcycles, scooters, and electric vehicles, primarily under its flagship Hero brand; key product categories encompass commuter motorcycles such as Splendor, Passion, and Glamour, premium bikes like Xtreme and Karizma, scooters including Pleasure and Maestro, and electric models like Vida V1 series. The company provides related services including spare parts distribution, after-sales maintenance through an extensive dealer network, and financing options via partnerships with financial institutions. Hero MotoCorp operates in the automotive industry, focusing on the two-wheeler segment with target markets spanning individual consumers, fleet operators, and rural-urban riders in emerging economies. Founded in 1984 and headquartered in New Delhi, India, the company maintains a dominant presence in India, where it holds the largest market share in motorcycles, and exports to over 40 countries across Asia, Latin America, Africa, and the Middle East. It spun off from its former parent Hero Group (previously partnered with Honda) in 2010 to become independent, with no current major subsidiaries but strategic alliances for technology and components. Hero MotoCorp's global operations emphasize volume-driven growth in value and premium segments, supported by manufacturing facilities in India and international assembly units. In the last 1-2 years, Hero MotoCorp launched its electric vehicle lineup with the Vida brand, including the V1 Pro scooter in 2023 and expanded variants in 2024-2025, alongside new internal combustion engine models like the Xtreme 125R and Glamour 125, reflecting a strategic shift toward electrification and premiumization. The company announced a major partnership with Ather Energy in late 2024 for battery-swapping infrastructure and fast-charging networks, aiming to bolster its EV ecosystem. Additionally, Hero MotoCorp completed a significant funding round through qualified institutional placements in early 2025, raising capital for EV R&D and capacity expansion, while acquiring a minority stake in a Latin American distributor to strengthen export markets.