Honda India

NSE: HONDAPOWER · Industrial Products

52W Range₹1,817 ₹3,216

Snapshot

Unlock Honda India's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Honda India Power Products Limited manufactures and markets a diverse range of power equipment, including portable generators, water pumps, general-purpose engines, and agricultural machinery. The company operates as a subsidiary of Honda Motor Co., Ltd. and serves both domestic Indian and international markets.

Business Model

The company generates revenue through the manufacturing and sale of power products, leveraging the Honda brand's reputation for engineering excellence. It distributes these products through an extensive network to cater to agricultural, industrial, and residential power needs.

  • Incorporation Year:1985

Growth Outlook

Growth is expected to be driven by the increasing mechanisation of the Indian agricultural sector and sustained demand for reliable portable power solutions. The company continues to leverage its export capabilities to reach markets in the United States and Europe.

Key Risks

  • Input Cost Volatility. Fluctuations in the prices of raw materials like steel and aluminium can significantly impact manufacturing margins.
  • Foreign Exchange Risk. As an exporter to international markets, the company is exposed to currency volatility that may affect profitability.
  • Competitive Intensity. The power products market faces stiff competition from both domestic players and low-cost international imports.
  • Regulatory and Environmental Standards. Stricter emission norms for engines and power equipment may necessitate continuous investment in research and development.

Price

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Key Metrics

REVENUE

₹865 Cr

TTM · standalone

+9.0%YoY

NET PROFIT

₹64 Cr

TTM · standalone

-19.6%YoY

EPS

₹63.33

TTM · standalone

-19.6%YoY

RETURN ON EQUITY

7.6%

TTM · standalone

-2.1 ppYoY

RETURN ON CAPITAL EMPLOYED

10.1%

TTM · standalone

-3.0 ppYoY

P/E

33.4x

Q4 FY26 · standalone

33.4 vs 27.9x5Y avg

EV/EBITDA

17.4x

Q4 FY26 · standalone

17.4 vs 16.2x5Y avg

EBITDA MARGIN

13.8%

TTM · standalone

-2.6 ppYoY

NET PROFIT MARGIN

10.2%

Q4 FY26 · standalone

-3.3 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · standalone

+0.00xYoY

Peers · Industrial Products

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Honda IndiaHONDAPOWER
2,06933.3617.449.0%13.8%7.6%10.1%-29.5%
Jash EngineeringJASH
2,15443.7027.270.1%16.7%16.6%20.9%-9.4%
HMT LimitedHMT
2,044-14.17-10.5%-62.7%8.5%3.8%-1.3%
Windsor MachinesWINDMACHIN
1,958-851.8177.8854.7%6.2%-0.4%1.3%-15.3%
HLE Glascoat LimitedHLEGLAS
1,94544.4617.6159.3%11.5%15.6%18.5%+4.9%
Pennar IndustriePENIND
1,94213.506.5438.4%11.1%16.4%29.1%-29.3%

As of Q4 FY26

Financials