HEROMOTOCO Financial Statements

Hero MotoCorp Profit & Loss Statement

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth 5.83 (9.90) 13.40 0.54
Op profit growth 0.95 (24) 16.40 4.05
EBIT growth (0.10) (25) 14.70 4.41
Net profit growth (20) (2.20) 3.80 14.10
Profitability ratios (%)        
OPM 13.20 13.90 16.40 16
EBIT margin 12.70 13.50 16.20 16.10
Net profit margin 9.42 12.40 11.50 12.50
RoCE 24.30 27.60 43.80 44.70
RoNW 4.89 6.90 8.35 9.36
RoA 4.50 6.37 7.72 8.72
Per share ratios ()        
EPS 147 183 186 178
Dividend per share 105 90 95 85
Cash EPS 110 140 158 154
Book value per share 772 721 599 517
Valuation ratios        
P/E 19.80 8.70 19 18.20
P/CEPS 26.40 11.40 22.50 20.90
P/B 3.78 2.21 5.91 6.24
EV/EBIDTA 12.50 6.65 12.10 12.60
Payout (%)        
Dividend payout 47.90 35.70 51 30.60
Tax payout (23) (24) (30) (29)
Liquidity ratios        
Debtor days 22.30 18.30 16.70 18.10
Inventory days 18.10 14 9.40 9.38
Creditor days (58) (49) (47) (48)
Leverage ratios        
Interest coverage (85) (85) (171) (168)
Net debt / equity 0.01 -- -- 0.01
Net debt / op. profit 0.05 -- -- 0.01
Cost breakup ()        
Material costs (70) (68) (67) (67)
Employee costs (6.30) (6.50) (4.90) (5)
Other costs (10) (12) (11) (12)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Revenue 30,959 29,254 32,458 28,610
yoy growth (%) 5.83 (9.90) 13.40 0.54
Raw materials (21,744) (19,831) (21,886) (19,116)
As % of sales 70.20 67.80 67.40 66.80
Employee costs (1,951) (1,889) (1,584) (1,432)
As % of sales 6.30 6.46 4.88 5.01
Other costs (3,165) (3,473) (3,664) (3,486)
As % of sales 10.20 11.90 11.30 12.20
Operating profit 4,100 4,061 5,325 4,576
OPM 13.20 13.90 16.40 16
Depreciation (715) (846) (575) (502)
Interest expense (46) (47) (31) (27)
Other income 558 731 523 522
Profit before tax 3,896 3,899 5,242 4,568
Taxes (913) (952) (1,570) (1,339)
Tax rate (23) (24) (30) (29)
Minorities and other (18) (21) (1.80) 38
Adj. profit 2,964 2,926 3,671 3,267
Exceptional items -- 677 -- --
Net profit 2,918 3,638 3,720 3,584
yoy growth (%) (20) (2.20) 3.80 14.10
NPM 9.42 12.40 11.50 12.50
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Profit before tax 3,896 3,899 5,242 4,568
Depreciation (715) (846) (575) (502)
Tax paid (913) (952) (1,570) (1,339)
Working capital 824 678 (338) --
Other operating items -- -- -- --
Operating cashflow 3,091 2,780 2,759 2,727
Capital expenditure 7,911 6,131 2,143 --
Free cash flow 11,003 8,911 4,902 2,727
Equity raised 19,440 18,527 18,902 18,065
Investments 6,476 5,240 3,168 --
Debt financing/disposal 868 553 429 385
Dividends paid 1,398 1,298 1,897 1,098
Other items -- -- -- --
Net in cash 39,185 34,529 29,299 22,276
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 40 40 40 39.90
Preference capital -- -- -- --
Reserves 15,376 14,366 13,080 11,932
Net worth 15,416 14,406 13,120 11,971
Minority interest
Debt 584 453 312 228
Deferred tax liabilities (net) 662 631 712 639
Total liabilities 16,805 15,631 14,260 12,931
Fixed assets 6,876 6,864 5,525 5,316
Intangible assets
Investments 10,582 8,359 6,114 7,669
Deferred tax asset (net) 209 158 99.50 57
Net working capital (1,257) (186) 2,218 (349)
Inventories 1,789 1,282 1,250 963
Inventory Days 21.10 16 -- 10.80
Sundry debtors 2,275 1,512 2,745 1,427
Debtor days 26.80 18.90 -- 16
Other current assets 1,179 1,222 2,567 1,784
Sundry creditors (5,318) (3,264) (3,541) (3,446)
Creditor days 62.70 40.70 -- 38.80
Other current liabilities (1,181) (937) (802) (1,076)
Cash 396 435 304 238
Total assets 16,805 15,631 14,260 12,931
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Particulars ( Rupees In Crores.) Mar-2022 Dec-2021 Sep-2021 Jun-2021 Mar-2021
Gross Sales 7,497 8,013 8,539 5,503 8,690
Excise Duty -- -- -- -- --
Net Sales 7,497 8,013 8,539 5,503 8,690
Other Operating Income -- -- -- -- --
Other Income 131 140 158 145 106
Total Income 7,628 8,153 8,697 5,648 8,796
Total Expenditure ** 6,661 7,030 7,516 5,119 7,463
PBIDT 967 1,123 1,181 530 1,333
Interest 13 12.70 14 13.50 12.60
PBDT 954 1,110 1,167 516 1,320
Depreciation 168 174 174 173 174
Minority Interest Before NP -- -- -- -- --
Tax 215 213 258 119 319
Deferred Tax (50) 18.30 (13) (32) (58)
Reported Profit After Tax 621 704 748 256 885
Minority Interest After NP 9.22 0.50 2.07 0.38 4.34
Net Profit after Minority Interest 611 704 746 256 881
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 611 704 746 256 881
EPS (Unit Curr.) 30.60 35.20 37.30 12.80 44.10
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- 3,000 -- -- --
Equity 40 40 40 40 40
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 12.90 14 13.80 9.62 15.30
PBDTM(%) 12.70 13.90 13.70 9.38 15.20
PATM(%) 8.28 8.79 8.76 4.66 10.20
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