1. India Stocks

  2. •

    Consumer Cyclical

  3. •

    Auto - Manufacturers
Hero MotoCorp Limited

Hero MotoCorp Limited

HEROMOTOCO.NS
Hero MotoCorp LimitedIN flagNational Stock Exchange of India
4,952.10
INR
+3.00
- -
990.88BMarket Cap
Hero MotoCorp Limited
HEROMOTOCO.NS
(National Stock Exchange of India)

Recent

price

4,952.10

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
2,369.93
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
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
415.62
- -
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
175.32
- -
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
2
Book Value per Share
24.45
112.55
191.65
264.09
337.03
409.74
492.65
576.59
633.07
696.86
736.49
752.66
784
834.18
909.34
1,036.98
1,036.96
Tangible Book Value per Share
200
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
1,094,583
1,154,380
1,012,886

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
287.01

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
135.19
2025
- -
- -
- -
- -
140.01
2026
- -
- -
- -
- -
175.32
Similar Companies
Olectra Greentech Limited (OLECTRA.BO)
Renault S.A. (RNLSY)
Piaggio & C. S.p.A. (PIAGF)
BYD Company Limited (BYDDY)
Force Motors Limited (FORCEMOT.NS)
BAIC Motor Corporation Limited (1958.HK)
Business
Hero MotoCorp Limited manufactures and sells motorcycles, scooters and electric two-wheelers primarily in India and over 50 countries across Asia, Africa, Latin America, the Middle East and Europe; its core products include commuter motorcycles such as Splendor Plus, Splendor Plus Xtec, Super Splendor Xtec, HF Deluxe, HF Deluxe Pro and Passion Plus; entry-level and premium motorcycles like Glamour, Glamour Xtec, Xtreme 125R, Xtreme 160R 4V, Xtreme 250R, XPulse 200 4V, XPulse 210, Karizma XMR and Mavrick 440; scooters encompassing Destini 125, Destini Prime, Xoom 110, Xoom 125, Pleasure Plus and Pleasure Plus Xtec; and electric scooters under the VIDA brand including V1, V2 and VX2; the company provides after-sales services, spare parts, maintenance, roadside assistance and digital customer support through over 6,000 dealerships and service points. Hero MotoCorp Limited, founded in 1984 as a joint venture with Honda and renamed in 2011 following the partnership termination, maintains headquarters in New Delhi, India, with manufacturing facilities in Dharuhera, Gurugram, Neemrana, Haridwar, Halol and Chittoor, plus international plants in Colombia, Bangladesh and a new subsidiary in Brazil; it operates R&D centers in Jaipur, India and Germany, and holds stakes in Ather Energy and Euler Motors. Recent developments encompass a March 2025 acquisition of 32.5% stake in Euler Motors for Rs 5.25 billion to enter electric three-wheelers; April 2025 establishment of wholly owned Hero MotoCorp do Brasil Ltda for manufacturing and distribution; October 2025 entry into the UK market via partnership with MotoGB Ltd for premium Euro 5+ motorcycles like Hunk 440, expanding to 51 countries; multiple 2025 launches including 125cc motorcycles, expanded VIDA electric scooters, second Harley-Davidson co-developed 440cc bike and Surge S32 class-changing vehicle; and market cap surpassing Rs 1 lakh crore.