Hero MotoCorp Ltd.
Company Background
Hero MotoCorp, India's largest motorcycle maker, is a core unit of midsize conglomerate Hero Group.
The company's history is closely tied to Japan's Honda Motor. Hero Group, which had been making bicycles, entered the motorcycle business in 1984 by establishing a joint venture called Hero Honda. Small motorbikes with 100cc to 150cc engines propelled the partnership into the top spot in the Indian market.
Hero, which sought to expand abroad, had a falling-out with Honda over management policy, leading to the end of the partnership in 2011. The company's name was changed to Hero MotoCorp.
In 2012, Hero MotoCorp partnered with a U.S. motorcycle maker, Erik Buell, seeing a chance for technical synergies. The Indian company has also built up its sales network in both urban and rural areas, making it a formidable competitor to Honda.
Nearly 40% of the company's outstanding shares are held by the founding Munjal family. Brijmohan Lall Munjal, who heads Hero Group, serves as chairman of Hero MotoCorp. His son, Pawan Munjal, is CEO of the motorcycle business and is accelerating overseas expansion, including in Africa and South America.
Business Summary
Financial Highlights
Mar 2023 | INR | USD |
Revenue | 341,583.80M | 4,250.34M |
Gross Profit | 72,669.10M | 904.22M |
Operating income | 33,963.80M | 422.61M |
Income before tax | 38,605.10M | 480.36M |
Net income | 28,099.60M | 349.64M |
EBITDA | 40,937.70M | 509.39M |
Diluted EPS | 140.49 | 1.74 |
Dividends Per Share | 100 | 1.24 |
Total Assets | 239,170.30M | 2,910.23M |
Total liabilities | 71,364M | 868.36M |
Total equity | 166,555.70M | 2,026.65M |
Operating cash flow | 27,885.60M | 346.98M |
Currency in INR | Currency in USD |
Historical Data
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
Revenue | 335,162M | 288,779.40M | 305,090.10M | 290,604.90M | 341,583.80M |
Gross Profit | 72,599.90M | 59,470.40M | 57,772.50M | 51,281.20M | 72,669.10M |
Operating income | 40,608.20M | 30,005.70M | 30,074.80M | 23,754M | 33,963.80M |
Income before tax | 50,435.40M | 45,764.50M | 38,958.80M | 32,571.60M | 38,605.10M |
Net income | 34,440.90M | 36,381.10M | 29,177.50M | 23,168.80M | 28,099.60M |
EBITDA | 46,852.60M | 38,463.30M | 37,226M | 30,649.20M | 40,937.70M |
Diluted EPS | 172.43 | 182.14 | 146.04 | 115.92 | 140.49 |
Dividends Per Share | 87 | 90 | 90 | 95 | 100 |
Total Assets | 186,038.40M | 198,322.60M | 233,049.90M | 227,226.90M | 239,170.30M |
Total liabilities | 53,673.20M | 52,853.80M | 77,453.80M | 67,279.90M | 71,364M |
Total equity | 131,204.10M | 144,062.80M | 154,164.20M | 158,466.50M | 166,555.70M |
Operating cash flow | 13,551.30M | 58,169.20M | 41,755.50M | 22,151.50M | 27,885.60M |
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
Revenue | 4,791.95M | 4,072.70M | 4,109.78M | 3,900.23M | 4,250.34M |
Gross Profit | 1,037.99M | 838.72M | 778.23M | 688.24M | 904.22M |
Operating income | 580.59M | 423.17M | 405.12M | 318.80M | 422.61M |
Income before tax | 721.09M | 645.42M | 524.80M | 437.14M | 480.36M |
Net income | 492.41M | 513.08M | 393.04M | 310.95M | 349.64M |
EBITDA | 669.87M | 542.45M | 501.46M | 411.34M | 509.39M |
Diluted EPS | 2.46 | 2.56 | 1.96 | 1.55 | 1.74 |
Dividends Per Share | 1.24 | 1.26 | 1.21 | 1.27 | 1.24 |
Total Assets | 2,685.50M | 2,621.53M | 3,187.49M | 2,998.70M | 2,910.23M |
Total liabilities | 774.78M | 698.65M | 1,059.36M | 887.89M | 868.36M |
Total equity | 1,893.96M | 1,904.30M | 2,108.55M | 2,091.27M | 2,026.65M |
Operating cash flow | 193.74M | 820.37M | 562.47M | 297.29M | 346.98M |
Valuation Measures
Mar 2023 | |
PER | 16.69 |
ROA | 12.04% |
ROE | 17.29% |
Operating margin | 9.94% |
Profit margin | 8.22% |
Key executives
- Chief Executive Officer: Niranjan Gupta
- Chief Operating & Human Resources Officer: Michael J. P. Clarke
- Chief Technology Officer: Arun Jaura
- Chief Information & Digital Officer: Reema Jain
- Secretary & Compliance Officer: Dhiraj Kapoor
Shareholders
- Bahadur Chand Investments Pvt Ltd. (20.0%)
- MUNJAL PAWAN KANT (14.0%)
- Life Insurance Corporation of India (Investment Portfolio) (12.7%)
- ICICI Prudential Asset Management Co. Ltd. (4.1%)
- Westwood Global Investments LLC (2.1%)
- SBI Funds Management Pvt Ltd. (2.1%)
- The Vanguard Group, Inc. (2.1%)
- BlackRock Fund Advisors (1.5%)
- Norges Bank Investment Management (1.4%)
- Hermes Investment Management Ltd. (1.4%)
Contact Details
- Website:http://www.heromotocorp.com
- Address: The Grand Plaza, Nelson Mandela Road, New Delhi, 110070, India
- Phone: +91.11.46044200
Related Companies
- Hero Tech Center Germany GmbH
- Sakar Industries Pvt Ltd.
- HMCL Netherlands B.V.
- HMCL Americas, Inc.
- HMC MM Auto Ltd.
Competitors
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