Honda India share price & results
- Jun 2026
- Sept 2026
Exclusive Indian licensee manufacturing Honda-branded power products for domestic sale and export.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 189 | +21.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 8.0 | +3.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 11.0 | +22.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 8.79 | −0.8 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -7.28 | −5.0 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 11.80 | +28.7 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −33.2% 1Y
1Y: ₹2,676.2 on 24 Oct 2025 → ₹1,787.4. High ₹2,679.1 (27 Oct 2025), low ₹1,749.7 (22 Oct 2026).
- Previous close
- ₹1,786.8
- Market cap
- ₹1.8k Cr
- 52-week range
- ₹1,749.7 – ₹2,679.1
- One year
- −33.28%
- Price to earnings (TTM to Jun 2026)
- 24.74×
- Return on equity (TTM to Jun 2026)
- 8.79%
Overview
- Symbol
- NSE:HONDAPOWER
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Honda India does
Based on the company's own presentations, annual report and earnings calls.
Honda India Power Products Limited manufactures and sells HONDA-branded power products under an exclusive Technical Collaboration, Trademark and Distributorship Agreement with its Japanese parent, Honda Motor Co. Ltd. It runs its manufacturing works at Kasna, Greater Noida (Uttar Pradesh), pays Honda Motor Japan a royalty on ex-factory sales for the licensed technology and trademarks, and pays an export commission for using Honda's global sales and distribution channel on exports outside Japan. The company has recently widened its range beyond core Honda-branded power equipment by launching battery-operated handheld power equipment (DCHH) and a new power-products category under its own 'HI+' brand.
Segments
- Power Products
- Manufacturing location
- Kasna, Greater Noida Industrial Development Area, Uttar Pradesh
- Technology/brand licensor
- Honda Motor Co., Ltd., Japan (exclusive Technical Collaboration, Trademark and Distributorship Agreements)
- Sales channels
- Domestic sale of Honda-branded products plus exports routed through Honda's global sales and distribution network
- Product range breadth
- Broad range of power products spanning multiple customer segments, including newly added DCHH battery-operated handheld equipment and HI+ branded category
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +22% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 177 | 204 | 269 | 155 | 176 | 270 | 265 | 189 |
| Expenses | 170 | 183 | 225 | 146 | 164 | 238 | 235 | 175 |
| Operating profit | 7 | 21 | 43 | 8 | 11 | 32 | 30 | 14 |
| Operating margin | 4.0% | 10.0% | 16.0% | 5.0% | 6.0% | 12.0% | 11.0% | 8.0% |
| Other income | 10 | 10 | 11 | 10 | 9 | -3 | 11 | 7 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 7 |
| Profit before tax | 11 | 26 | 49 | 13 | 15 | 23 | 35 | 15 |
| Tax rate | 26.0% | 26.0% | 26.0% | 26.0% | 26.0% | 27.0% | 23.0% | 26.0% |
| Net profit | 9 | 19 | 36 | 9 | 11 | 17 | 27 | 11 |
| EPS (₹ per share) | 8.42 | 18.82 | 35.65 | 9.35 | 11.01 | 16.43 | 26.54 | 10.94 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 1,246 | 989 | 794 | 866 |
| Expenses | 1,111 | 890 | 706 | 783 |
| Operating profit | 135 | 98 | 87 | 81 |
| Other income | 2 | 46 | 42 | 27 |
| Interest | 0 | 0 | 0 | 0 |
| Depreciation | 21 | 20 | 21 | 24 |
| Profit before tax | 116 | 124 | 108 | 86 |
| Net profit | 85 | 92 | 80 | 64 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 10 | 10 | 10 | 10 | 10 | 10 |
| Reserves | 660 | 727 | 802 | 853 | 750 | 793 |
| Borrowings | 1 | 1 | 0 | 0 | 0 | 1 |
| Other liabilities | 194 | 196 | 184 | 194 | 191 | 238 |
| Total liabilities | 865 | 934 | 997 | 1,058 | 952 | 1,042 |
| Fixed assets | 87 | 91 | 98 | 107 | 107 | 132 |
| Capital work in progress | 13 | 9 | 7 | 8 | 19 | 44 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 765 | 833 | 892 | 943 | 826 | 867 |
| Total assets | 865 | 934 | 997 | 1,058 | 952 | 1,042 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 152 | 37 | 157 | 106 | 22 | -11 |
| Cash from investing | -92 | 16 | -148 | -97 | -69 | 173 |
| Cash from financing | -14 | -11 | -16 | -18 | -28 | -126 |
| Net cash flow | 46 | 42 | -7 | -9 | -75 | 36 |
| Free cash flow | 138 | 21 | 129 | 83 | -18 | -63 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 32 | 28 | 21 | 19 | 54 | 66 |
| Inventory days | 98 | 90 | 83 | 89 | 106 | 116 |
| Days payable | 69 | 59 | 46 | 61 | 67 | 78 |
| Cash conversion cycle | 61 | 58 | 58 | 47 | 93 | 105 |
| Working capital days | 110 | 51 | 27 | 20 | 46 | 198 |
| Return on capital employed | 11.0% | 16.0% | 19.0% | 15.0% | 13.0% | 12.0% |
| Dividend payout | 21.0% | 20.0% | 20.0% | 19.0% | 27.0% | 36.0% |
What the price assumes
Growth trapTo justify its price of ₹1787, this stock must grow earnings at 22% every year for 7 years. Our analysis caps realistic growth at ~-9%. At that growth it is worth ₹344 — downside of 81%.
- Growth the price implies
- 21.7% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -9.0% a year
- net profit, FY23–FY26 · EPS -8.9%
- The gap
- 0.3 pp
- -81% downside if it only repeats history
Ownership
Who owns it
Promoters hold 66.67% as of Sept 2026; institutions cut 0.04 pts since Jun 2026.
- Promoters 66.67%
- Foreign institutions 0.94%
- Domestic institutions 18.27%
- Public 14.11%
Who is on the register
Named in the Sep 2026 filing
Every holder of Honda India above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 66.67% | unchanged | |
| Mutual fund | 8.86% | unchanged |
| Mutual fund | 5.14% | unchanged |
| Mutual fund | 4.26% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in HONDAPOWER
Filings to Sep 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹168 Cr
- 1 schemes
- Biggest holder
- Nippon India Small Cap Fund
- ₹168 Cr · 0.2% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹168 Cr | held | Mar '16 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- +36%
- vs est. average cost
- Held by funds
- ₹168 Cr
- 1 schemes · ≈ 8.9% of the company
Shares held by these funds +6%
Oct '23 8.99 L shares Sep '26
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