HONDAPOWER

Honda India Power Products Limited

Power products including portable generators and water pumps

Industrials›Capital Goods›Industrial Manufacturing›Industrial Products

Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹1834.60
Market cap
1,861 Cr
Stock P/E
28.3
P/B
2.32
Dividend yield
6.8%
ROE (FY26)
8.0%
ROCE (FY26)
10.7%
Operating margin (FY26)
6.8%
OCF / EBITDA (FY26)
-13.1%
OCF / EBITDA (3Y)
43.6%

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.

Loading price history…

Compare with peers

Loading peers…

What you need to know

Honda India Power Products (formerly Honda Siel Power Products) makes and sells power products, its single business segment, in India and overseas, and pays royalty to Honda Motor Co. Ltd., Japan.

Company snapshot

40thBy market cap

Ranked among 69 companies in Industrial Products.

What we see

Positives
  • ✓Interest coverage of 365.5x — earnings comfortably cover interest obligations.
Concerns
  • ✗Only 44% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.
1 more signal from the filings.Sign in free to see them all

Statement tables · Standalone

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

Standalone only

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
Sales285 Cr263 Cr231 Cr144 Cr177 Cr204 Cr269 Cr155 Cr176 Cr270 Cr265 Cr189 Cr
Operating expenses (approx.)249 Cr230 Cr221 Cr128 Cr170 Cr183 Cr225 Cr146 Cr164 Cr238 Cr235 Cr175 Cr
EBITDA35 Cr33 Cr10 Cr16 Cr7 Cr21 Cr43 Cr8 Cr11 Cr32 Cr30 Cr14 Cr
OPM %12.4%12.5%4.5%11.4%4.0%10.2%16.2%5.4%6.5%11.8%11.3%7.6%
Other income12 Cr10 Cr12 Cr11 Cr10 Cr10 Cr11 Cr10 Cr9 Cr8 Cr10 Cr7 Cr
Interest0.05 Cr0.05 Cr0.29 Cr0.04 Cr0.05 Cr0.05 Cr0.32 Cr0.04 Cr0.03 Cr0.04 Cr0.05 Cr0.06 Cr
Depreciation5 Cr5 Cr5 Cr5 Cr5 Cr5 Cr6 Cr6 Cr6 Cr6 Cr6 Cr7 Cr
Profit before tax42 Cr38 Cr21 Cr22 Cr11 Cr26 Cr49 Cr13 Cr15 Cr23 Cr35 Cr15 Cr
Tax %26.0%25.5%24.0%26.0%25.6%25.8%25.7%25.9%25.9%26.7%23.3%26.5%
Net profit31 Cr28 Cr16 Cr16 Cr9 Cr19 Cr36 Cr9 Cr11 Cr17 Cr27 Cr11 Cr
EPS (₹)₹30.75₹27.92₹15.57₹15.92₹8.42₹18.82₹35.65₹9.35₹11.01₹16.43₹26.54₹10.94

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales736 Cr777 Cr816 Cr849 Cr939 Cr1,156 Cr1,246 Cr989 Cr794 Cr865 CrSign in free for the trailing twelve months
Operating expenses (approx.)640 Cr676 Cr725 Cr756 Cr867 Cr1,054 Cr1,111 Cr890 Cr707 Cr784 CrSign in free for the trailing twelve months
EBITDA96 Cr102 Cr90 Cr93 Cr72 Cr102 Cr135 Cr99 Cr88 Cr82 CrSign in free for the trailing twelve months
OPM %13.0%13.1%11.1%10.9%7.7%8.8%10.8%10.0%11.0%9.4%Sign in free for the trailing twelve months
Other income16 Cr15 Cr18 Cr16 Cr15 Cr17 Cr19 Cr41 Cr42 Cr37 CrSign in free for the trailing twelve months
Interest0.40 Cr0.24 Cr0.12 Cr0.30 Cr0.28 Cr0.48 Cr0.58 Cr0.44 Cr0.46 Cr0.16 CrSign in free for the trailing twelve months
Depreciation23 Cr23 Cr21 Cr22 Cr20 Cr19 Cr21 Cr20 Cr22 Cr23 CrSign in free for the trailing twelve months
Profit before tax88 Cr94 Cr83 Cr90 Cr66 Cr100 Cr115 Cr124 Cr108 Cr86 CrSign in free for the trailing twelve months
Tax %34.4%34.9%35.0%26.4%26.4%25.5%26.3%25.5%25.8%25.0%Sign in free for the trailing twelve months
Net profit58 Cr61 Cr54 Cr67 Cr49 Cr75 Cr85 Cr92 Cr80 Cr64 CrSign in free for the trailing twelve months
EPS (₹)₹56.97₹60.54₹53.39₹65.58₹47.99₹73.48₹83.89₹90.91₹78.81₹63.33Sign in free for the trailing twelve months
Dividend payout %————26.1%13.6%17.9%0.4%34.8%196.3%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 capital10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr
Reserves412 Cr464 Cr507 Cr559 Cr595 Cr660 Cr727 Cr802 Cr853 Cr793 Cr
Borrowings——————————
Other liabilities111 Cr122 Cr138 Cr146 Cr185 Cr192 Cr193 Cr180 Cr184 Cr228 Cr
Total liabilities534 Cr597 Cr655 Cr715 Cr791 Cr861 Cr930 Cr992 Cr1,048 Cr1,032 Cr
Fixed assets (net)103 Cr97 Cr93 Cr92 Cr91 Cr86 Cr89 Cr91 Cr105 Cr129 Cr
CWIP0.33 Cr0.94 Cr3 Cr2 Cr2 Cr12 Cr9 Cr7 Cr6 Cr43 Cr
Investments——0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Loans & advances——161 Cr161 Cr160 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Inventories121 Cr91 Cr112 Cr211 Cr160 Cr176 Cr167 Cr141 Cr119 Cr150 Cr
Trade receivables26 Cr64 Cr64 Cr50 Cr82 Cr87 Cr71 Cr51 Cr118 Cr158 Cr
Cash & bank41 Cr21 Cr18 Cr35 Cr80 Cr122 Cr115 Cr106 Cr31 Cr66 Cr
Other assets242 Cr323 Cr205 Cr166 Cr214 Cr378 Cr480 Cr596 Cr668 Cr485 Cr
Total assets534 Cr597 Cr655 Cr715 Cr791 Cr861 Cr930 Cr992 Cr1,048 Cr1,032 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 activity40 Cr55 Cr21 Cr-18 Cr152 Cr37 Cr157 Cr106 Cr22 Cr-11 Cr
Cash from investing-13 Cr-65 Cr-13 Cr47 Cr-92 Cr16 Cr-150 Cr-99 Cr-70 Cr172 Cr
Cash from financing-8 Cr-9 Cr-11 Cr-13 Cr-14 Cr-11 Cr-16 Cr-18 Cr-28 Cr-126 Cr
Net cash flow19 Cr-20 Cr-3 Cr17 Cr46 Cr42 Cr-7 Cr-9 Cr-75 Cr36 Cr
Free cash flow (OCF − Capex)24 Cr39 Cr2 Cr-40 Cr137 Cr20 Cr128 Cr82 Cr-19 Cr-63 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %20.9%19.9%16.1%15.9%11.0%15.0%15.7%15.3%12.5%10.7%
ROE %13.7%12.9%10.5%11.7%8.0%11.1%11.5%11.4%9.3%8.0%
Debtor days13302821322721195466
Inventory days11987921471189993104118128
Days payable70826961846653738191
Cash conversion cycle6235521086660614991103
OCF / EBITDA %41.6%54.1%22.8%-19.0%210.0%36.1%116.5%106.7%25.2%-13.1%
OCF / EBITDA % (3 years)——40.1%20.4%60.5%64.0%111.7%89.2%88.6%43.6%
Debt / equity——0.0027———————
Current ratio3.083.513.573.863.273.293.924.304.453.36
Net debt / EBITDA-0.43-0.21-0.20-0.37-1.11-1.19-0.85-1.07-0.35-0.81