HONDAPOWER
Honda India share price & financials
- Price
- ₹2,185.5
- Market cap
- ₹2.0k Cr
- Sector
- Capital Goods
What Honda India does
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
Quarterly results
Q1 FY27: revenue up 21.9%, net profit up 22.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 177 | 204 | 269 | 155 | 176 −1% | 270 +32% | 265 −1% | 189 +22% |
| EBITDA | 7 | 21 | 43 | 8 | 11 +57% | 32 +52% | 30 −30% | 14 +75% |
| Net profit | 9 | 19 | 36 | 9 | 11 +22% | 17 −11% | 27 −25% | 11 +22% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −32.0% 1Y
1Y: ₹2,872.1 on 10 Sept 2025 → ₹1,953. High ₹2,906.1 (17 Sept 2025), low ₹1,847.2 (30 Mar 2026).
Financials, as filed
Revenue fell 11.4% a year over 3 years, FY23 to FY26. Operating margin narrowed to 9.4%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.2k Cr | ₹989 Cr | ₹794 Cr | ₹866 Cr |
| Operating profit | ₹135 Cr | ₹98 Cr | ₹87 Cr | ₹81 Cr |
| Operating margin | 10.8% | 9.9% | 11.0% | 9.4% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹21 Cr | ₹20 Cr | ₹21 Cr | ₹24 Cr |
| Net profit | ₹85 Cr | ₹92 Cr | ₹80 Cr | ₹64 Cr |
| Net margin | 6.8% | 9.3% | 10.1% | 7.4% |
| Cash from operations | ₹157 Cr | ₹106 Cr | ₹22 Cr | ₹-11 Cr |
| Free cash flow | ₹129 Cr | ₹83 Cr | ₹-18 Cr | ₹-63 Cr |
| ROCE | 19.0% | 15.0% | 13.0% | 12.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr |
| Reserves | ₹595 Cr | ₹660 Cr | ₹727 Cr | ₹802 Cr | ₹750 Cr | ₹793 Cr |
| Borrowings | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr |
| Other liabilities | ₹187 Cr | ₹194 Cr | ₹196 Cr | ₹184 Cr | ₹191 Cr | ₹238 Cr |
| Total liabilities | ₹794 Cr | ₹865 Cr | ₹934 Cr | ₹997 Cr | ₹952 Cr | ₹1.0k Cr |
| Fixed assets | ₹91 Cr | ₹87 Cr | ₹91 Cr | ₹98 Cr | ₹107 Cr | ₹132 Cr |
| Capital work in progress | ₹2 Cr | ₹13 Cr | ₹9 Cr | ₹7 Cr | ₹19 Cr | ₹44 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹700 Cr | ₹765 Cr | ₹833 Cr | ₹892 Cr | ₹826 Cr | ₹867 Cr |
| Total assets | ₹794 Cr | ₹865 Cr | ₹934 Cr | ₹997 Cr | ₹952 Cr | ₹1.0k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −0.18 pp while the public added +0.14 pp. The shareholder count grew 7% to 25,099.
- Promoters
- 66.7%
- FIIs
- 1.0%
- DIIs
- 18.3%
- Public
- 14.1%
Since Jun 2025
- FIIs −0.18 pp
- Public +0.14 pp
- DIIs +0.04 pp
How it drifted, 12 quarters
Over this window DIIs went from 14.7% to 18.3% — +3.5 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 66.7%, FIIs 1.8%, DIIs 14.7%, Public 16.8%.Dec '23: Promoters 66.7%, FIIs 1.6%, DIIs 14.8%, Public 16.9%.Mar '24: Promoters 66.7%, FIIs 1.4%, DIIs 15.3%, Public 16.6%.Jun '24: Promoters 66.7%, FIIs 1.4%, DIIs 16.9%, Public 15.0%.Sep '24: Promoters 66.7%, FIIs 1.4%, DIIs 17.9%, Public 14.0%.Dec '24: Promoters 66.7%, FIIs 1.4%, DIIs 18.2%, Public 13.8%.Mar '25: Promoters 66.7%, FIIs 1.4%, DIIs 18.2%, Public 13.8%.Jun '25: Promoters 66.7%, FIIs 1.2%, DIIs 18.2%, Public 13.9%.Sep '25: Promoters 66.7%, FIIs 1.1%, DIIs 18.2%, Public 14.0%.Dec '25: Promoters 66.7%, FIIs 1.1%, DIIs 18.2%, Public 14.0%.Mar '26: Promoters 66.7%, FIIs 1.1%, DIIs 18.3%, Public 14.0%.Jun '26: Promoters 66.7%, FIIs 1.0%, DIIs 18.3%, Public 14.1%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Honda India above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Honda Motor Co. Ltd | 66.67% | unchanged |
| Nippon Life India Trustee Ltd. Mutual fund | 8.86% | unchanged |
| Tata Mutual Fund Mutual fund | 5.14% | unchanged |
| Quant Mutual Fund 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 Aug 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹181 Cr
- 1 schemes
- Biggest holder
- Nippon India Small Cap Fund
- ₹181 Cr · 0.2% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹181 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 Aug 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- +66%
- vs est. average cost
- Held by funds
- ₹181 Cr
- 1 schemes · ≈ 9.9% of the company
Shares held by these funds +6%
Aug '23 8.99 L shares Jul '26
What the price assumes
Growth trapTo justify its price of ₹1953, this stock must grow earnings at 23% every year for 7 years. Our analysis caps realistic growth at ~-9%. At that growth it is worth ₹344 — downside of 82%.
- Growth the price implies
- 23.4% 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
- -82% downside if it only repeats history
Learn to analyse Honda India
Guides on how to read this kind of business and the numbers that matter.