HEROMOTOCO

Hero MotoCorp Limited

India's largest two-wheeler maker by volume, with the Vida electric brand

Consumer Discretionary›Automobile and Auto Components›Automobiles›2/3 Wheelers

heromotocorp.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹5225.00
Market cap
1,04,541 Cr
Stock P/E
19.2
P/B
4.84
Dividend yield
3.4%
ROE (FY26)
26.3%
ROCE (FY26)
33.7%
Operating margin (FY26)
13.1%
Debt / equity (FY26)
0.02
OCF / EBITDA (FY26)
118.0%
OCF / EBITDA (3Y)
95.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Hero MotoCorp makes motorcycles and scooters, both petrol-engine (ICE) and electric under its Vida brand, and sells them in India and in export markets.

Company snapshot

4thBy market cap

Ranked among 6 companies in 2/3 Wheelers.

What we see

Positives
  • ✓96% of operating profit came in as cash over the last three years — profits are backed by real cash.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales9,533 Cr9,788 Cr9,617 Cr10,211 Cr10,483 Cr10,260 Cr9,970 Cr9,728 Cr12,218 Cr12,487 Cr12,978 Cr13,126 Cr
Operating expenses (approx.)8,174 Cr8,403 Cr8,223 Cr8,750 Cr8,947 Cr8,752 Cr8,529 Cr8,315 Cr10,354 Cr10,641 Cr11,056 Cr11,380 Cr
EBITDA1,360 Cr1,385 Cr1,394 Cr1,461 Cr1,536 Cr1,508 Cr1,441 Cr1,413 Cr1,864 Cr1,846 Cr1,922 Cr1,746 Cr
OPM %14.3%14.1%14.5%14.3%14.7%14.7%14.5%14.5%15.3%14.8%14.8%13.3%
Other income208 Cr244 Cr177 Cr225 Cr239 Cr306 Cr274 Cr310 Cr240 Cr298 Cr210 Cr460 Cr
Interest25 Cr23 Cr8 Cr19 Cr18 Cr17 Cr17 Cr21 Cr19 Cr20 Cr19 Cr21 Cr
Depreciation187 Cr194 Cr197 Cr205 Cr206 Cr209 Cr204 Cr206 Cr210 Cr219 Cr221 Cr220 Cr
Profit before tax1,360 Cr1,456 Cr1,292 Cr1,408 Cr1,464 Cr1,497 Cr1,565 Cr2,126 Cr1,777 Cr1,692 Cr1,841 Cr1,921 Cr
Tax %26.0%25.1%27.0%26.7%27.2%26.0%25.3%19.8%25.7%24.6%19.9%26.2%
Net profit1,007 Cr1,091 Cr943 Cr1,032 Cr1,066 Cr1,108 Cr1,169 Cr1,706 Cr1,321 Cr1,275 Cr1,474 Cr1,418 Cr
EPS (₹)₹50.34₹54.71₹46.78₹52.31₹53.19₹55.38₹58.08₹85.26₹65.41₹63.36₹72.98₹70.59

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales30,984 Cr33,101 Cr33,972 Cr29,255 Cr30,959 Cr29,551 Cr34,158 Cr37,789 Cr40,923 Cr47,411 CrSign in free for the trailing twelve months
Operating expenses (approx.)26,408 Cr27,776 Cr28,954 Cr25,194 Cr26,860 Cr26,107 Cr30,065 Cr32,439 Cr34,978 Cr40,366 CrSign in free for the trailing twelve months
EBITDA4,576 Cr5,325 Cr5,018 Cr4,061 Cr4,100 Cr3,445 Cr4,094 Cr5,350 Cr5,946 Cr7,045 CrSign in free for the trailing twelve months
OPM %14.8%16.1%14.8%13.9%13.2%11.7%12.0%14.2%14.5%14.9%Sign in free for the trailing twelve months
Other income522 Cr523 Cr687 Cr731 Cr558 Cr555 Cr569 Cr855 Cr1,044 Cr1,058 CrSign in free for the trailing twelve months
Interest27 Cr31 Cr37 Cr47 Cr46 Cr53 Cr105 Cr76 Cr71 Cr78 CrSign in free for the trailing twelve months
Depreciation502 Cr575 Cr624 Cr846 Cr715 Cr690 Cr697 Cr757 Cr825 Cr855 CrSign in free for the trailing twelve months
Profit before tax4,885 Cr5,292 Cr5,104 Cr4,611 Cr3,849 Cr3,058 Cr3,864 Cr5,090 Cr5,934 Cr7,436 CrSign in free for the trailing twelve months
Tax %27.4%29.7%32.1%20.6%23.7%23.8%27.5%26.5%26.3%22.3%Sign in free for the trailing twelve months
Net profit3,546 Cr3,722 Cr3,466 Cr3,659 Cr2,936 Cr2,329 Cr2,800 Cr3,742 Cr4,376 Cr5,776 CrSign in free for the trailing twelve months
EPS (₹)₹179.49₹186.30₹172.45₹182.15₹146.07₹115.96₹140.62₹187.36₹218.96₹287.01Sign in free for the trailing twelve months
Dividend payout %————65.3%81.9%71.4%72.2%64.0%60.7%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital40 Cr40 Cr40 Cr40 Cr40 Cr40 Cr40 Cr40 Cr40 Cr40 Cr
Reserves10,276 Cr11,932 Cr13,080 Cr14,366 Cr15,376 Cr15,807 Cr16,616 Cr17,659 Cr19,232 Cr21,571 Cr
Borrowings248 Cr225 Cr309 Cr210 Cr330 Cr353 Cr568 Cr363 Cr457 Cr499 Cr
Other liabilities4,681 Cr5,107 Cr4,959 Cr4,917 Cr7,206 Cr6,130 Cr6,569 Cr7,955 Cr8,529 Cr11,143 Cr
Total liabilities15,312 Cr17,397 Cr18,504 Cr19,674 Cr23,096 Cr22,478 Cr23,917 Cr26,153 Cr28,390 Cr33,453 Cr
Fixed assets (net)4,495 Cr4,771 Cr4,793 Cr5,786 Cr5,551 Cr5,354 Cr5,159 Cr5,213 Cr5,219 Cr5,325 Cr
CWIP387 Cr239 Cr385 Cr205 Cr236 Cr149 Cr122 Cr127 Cr105 Cr245 Cr
Investments5,041 Cr6,510 Cr6,114 Cr8,359 Cr10,582 Cr10,528 Cr10,891 Cr12,751 Cr14,868 Cr19,789 Cr
Loans & advances——25 Cr24 Cr40 Cr23 Cr24 Cr25 Cr27 Cr28 Cr
Inventories709 Cr963 Cr1,250 Cr1,282 Cr1,789 Cr1,472 Cr1,756 Cr1,756 Cr2,013 Cr2,650 Cr
Trade receivables1,552 Cr1,427 Cr2,745 Cr1,512 Cr2,275 Cr2,158 Cr2,719 Cr2,630 Cr3,381 Cr2,340 Cr
Cash & bank74 Cr131 Cr208 Cr305 Cr275 Cr181 Cr226 Cr605 Cr384 Cr687 Cr
Other assets3,055 Cr3,356 Cr2,985 Cr2,201 Cr2,349 Cr2,612 Cr3,019 Cr3,046 Cr2,393 Cr2,389 Cr
Total assets15,312 Cr17,397 Cr18,504 Cr19,674 Cr23,096 Cr22,478 Cr23,917 Cr26,153 Cr28,390 Cr33,453 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity4,007 Cr4,017 Cr1,032 Cr5,518 Cr4,110 Cr2,104 Cr2,614 Cr4,923 Cr4,297 Cr8,315 Cr
Cash from investing-1,972 Cr-1,858 Cr1,298 Cr-2,819 Cr-2,289 Cr-222 Cr-421 Cr-1,828 Cr-1,703 Cr-4,478 Cr
Cash from financing-2,036 Cr-2,102 Cr-2,252 Cr-2,602 Cr-1,852 Cr-1,975 Cr-2,147 Cr-2,717 Cr-2,815 Cr-3,534 Cr
Net cash flow-0.62 Cr57 Cr78 Cr97 Cr-31 Cr-94 Cr45 Cr379 Cr-221 Cr303 Cr
Free cash flow (OCF − Capex)2,769 Cr3,193 Cr53 Cr4,244 Cr3,529 Cr1,534 Cr2,010 Cr4,135 Cr3,441 Cr7,215 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %46.2%43.3%38.0%31.6%24.5%19.0%22.9%28.4%30.2%33.7%
ROE %34.5%30.9%26.0%25.0%18.8%14.5%16.7%21.0%22.6%26.3%
Debtor days18162919272729253018
Inventory days14161923302627262831
Days payable63565357877672837890
Cash conversion cycle-31-24-4-15-31-24-16-31-20-41
OCF / EBITDA %87.6%75.4%20.6%135.9%100.3%61.1%63.8%92.0%72.3%118.0%
OCF / EBITDA % (3 years)——60.7%73.4%80.9%101.1%75.9%74.8%76.9%95.6%
Debt / equity0.020.020.020.010.020.020.030.020.020.02
Current ratio1.812.011.912.021.751.921.571.461.801.91
Net debt / EBITDA0.04—0.02-0.020.010.050.08-0.050.01-0.03