Honda India Power Products Ltd
HONDAPOWERHonda India Power Products Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
Biggest watch item: the P/E sits at the 79th percentile of its own range — the multiple has already done part of the work.
The price is in a downtrend (37 weeks in) while the P/E sits at the 79th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −25.0% year on year, and 50% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Honda India Power Products Ltd trades at ₹2,124, in a downtrend and 37 weeks into that stage. That is −7.8% against its own 200-day average. It sits at 20% of a 52-week range of ₹1,931 to ₹2,908. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).
Today the stock is in a downtrend — week 37 of stage 4, confirmed. At ₹2,124 it trades −7.8% versus its 200-day average and sits at 20% of its 52-week range (₹1,931–₹2,908).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +84% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-19) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 79th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Honda India Power Products Ltd trades at 29.5× P/E, at the pricey end of its own range (79th percentile). Its long-run median P/E is 24.9×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 29.5× is at the pricey end of its own range (79th percentile), against a long-run median of 24.9× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved −19.6% against a −29.0% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +11.5%/yr price move, ~+8.1%/yr came from earnings growth and ~+3.4 pp from the multiple (expanding); over 10y, of the +5.9%/yr price move, ~+3.1%/yr came from earnings growth and ~+2.8 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Honda India Power Products Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE slipping at 11.0% — the per-curve reads carry the story. The read is built from 8 quarters across 4 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +8.9% | −11.5% | −1.6% | +2.5% |
| Profit | −20.0% | −9.0% | +5.5% | +2.7% |
| EPS | −19.6% | −8.9% | +5.7% | +2.8% |
| Share price | −29.0% | −0.7% | +11.5% | +5.9% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
39.4/100 — rank 15 of 19 in Capital Goods - Electric General · 77% evidence confidence
Honda India Power Products Ltd scores 39.4 out of 100 against the 19 companies it is compared with in Capital Goods - Electric General, ranking 15. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 12.3 + 12.4 + 7.6 + 7.1 = 39.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Honda India Power Products Ltd reported ₹265 Cr of revenue in the Mar 26 quarter, −1.5% year on year. Over 10 years it has compounded at 2.5% a year. The last full year, FY26, came in at ₹865 Cr. The last four reported quarters add to ₹866 Cr.
Honda India Power Products Ltd reported ₹265 Cr of revenue in the Mar 26 quarter, −1.5% year on year. Over 10 years it has compounded at 2.5% a year. The last full year, FY26, came in at ₹865 Cr. The last four reported quarters add to ₹866 Cr.
FY26 revenue came in at ₹865 Cr (+8.9% on the year), capping 10 years at 2.5% compound. The latest quarter (Mar 26) printed ₹265 Cr, −1.5% year on year.
Pace check: the last four quarters averaged +9.5% growth against the decade's 2.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +9.1% over the last 4 quarters against −6.4%/yr over the last 8 — accelerating; TTM profit −20.0% vs −16.6%/yr — rolling over.
→ Revenue slipped — did margins hold as it scaled? Next: 11.0% this quarter (−5.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Honda India Power Products Ltd's operating margin is 11.0% in the Mar 26 quarter, −5.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 8.0% to 14.0%. The current quarter sits inside that band.
Honda India Power Products Ltd's operating margin is 11.0% in the Mar 26 quarter, −5.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 8.0% to 14.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 11.0%, −5.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 8.0%–14.0%.
🚨 Why the margin moved: operating margin went −4.8 pp year on year while gross margin went −4.2 pp — the loss came mostly from the gross line: input costs and pricing.
→ Margins slipped — did that reach the bottom line? Next: profit −25.0% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Honda India Power Products Ltd earned ₹27.0 Cr of net profit in the Mar 26 quarter, −25.0% year on year. Full-year FY26 profit was ₹64.0 Cr. The 10-year compound rate is 2.7%. That is 10.2% of the quarter's revenue. The same quarter a year earlier earned ₹36.0 Cr.
Honda India Power Products Ltd earned ₹27.0 Cr of net profit in the Mar 26 quarter, −25.0% year on year. Full-year FY26 profit was ₹64.0 Cr. The 10-year compound rate is 2.7%. That is 10.2% of the quarter's revenue. The same quarter a year earlier earned ₹36.0 Cr.
Mar 26 profit was ₹27.0 Cr, −25.0% year on year. On the full year, FY26 printed ₹64.0 Cr (−20.0%), and the 10-year compound rate is 2.7%.
🚨 Why profit moved: revenue contributed −1.5% and the margin −5.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit −14.3% vs revenue +9.5%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit rose — but did the cash follow? Next: 50% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 50% of Honda India Power Products Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−11.0 Cr of operating cash against ₹64.0 Cr of profit. After ₹83.0 Cr of capital spending, ₹−94.0 Cr was left as free cash.
FY26: operating cash of ₹−11.0 Cr against reported profit of ₹64.0 Cr, leaving free cash of ₹−94.0 Cr after ₹83.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 50% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 50%: the cash cycle stretched 37 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 37 days — the next section's job is to find where the cash is stuck.
→ So follow the cash to where it goes. Next: the 98-day cycle, in money terms.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Honda India Power Products Ltd's cash conversion cycle runs 98 days in FY26, up from 61 days in FY21. Capital spending ran ₹140 Cr over the last 3 years. At FY26 sales of ₹865 Cr each day of that cycle holds about ₹2.4 Cr, so roughly ₹232 Cr sits inside the business at any moment.
FY26: debtors at 66 days, inventory at 109 days — roughly 3.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 98 days, looser than FY21's 61.
The full loop: cash goes out to suppliers and production on day 0; stock waits 109 days to sell; customers pay about 66 days after that; and suppliers themselves are paid at 78 days — netting out to the 98-day cycle.
In money terms: at FY26 sales of ₹865 Cr, each day of the cycle holds about ₹2.4 Cr — so the 98-day loop keeps roughly ₹232 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹140 Cr over the last 3 fiscal years against ₹65.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹43.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 11% and the ROIC − WACC spread is −3.6 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Honda India Power Products Ltd earns a ROCE of 11% in FY26. That is up from a trough of 11% in FY21. Return on invested capital clears the cost of that capital by −3.6 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 7.4% net margin on 0.84× asset turns.
FY26 ROCE is 11%, recovered from a FY21 trough of 11% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 7.4% net margin × 0.84× asset turns × 1.29× balance-sheet leverage ≈ 8.0% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 8.4% − 12.0% = a −3.6 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.00.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Honda India Power Products Ltd carries total debt of ₹1.0 Cr against shareholder equity of ₹803 Cr as of Mar 26, a debt-to-equity of 0.00 — effectively unlevered. On the annual view that ratio went from 0.00 in FY22 to 0.00 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹1.0 Cr against shareholder equity of ₹803 Cr — a debt-to-equity of 0.00. On the annual view, debt-to-equity went from 0.00 (FY22) to 0.00 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Domestic institutions added 1.3 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 1.3 points of Honda India Power Products Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 18.3% of the company. Foreign institutions moved −0.4 points over the same window, to 1.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +1.3 points over 8 quarters to 18.3%; Foreign institutions: −0.4 points over 8 quarters to 1.0%; Promoters: +0.0 points over 8 quarters to 66.7%.
Why the register moved: domestic institutions drove it (+1.3 points) — steady accumulation by institutions reading the same numbers this page reads.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Honda India Power Products Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Honda India Power Products Ltd this page | 29.5× | ₹2,118 Cr | Mixed | |||
| Siemens Ltd | 46.8× | ₹1.3L Cr | Mixed | |||
| V-Guard Industries Ltd | 39.5× | ₹12,705 Cr | Turning around | |||
| Spectrum Electrical Industries Ltd | 80.7× | ₹3,585 Cr | No read | |||
| Ravindra Energy Ltd | 42.2× | ₹3,404 Cr | No read | |||
| Insolation Energy Ltd | 13.9× | ₹2,783 Cr | Improving | |||
| Insolation Energy Ltd | 12.4× | ₹2,482 Cr | — | — | — | — |
| Rishabh Instruments Ltd | 29.5× | ₹2,406 Cr | Improving | |||
| Modern Insulators Ltd | 29.1× | ₹2,324 Cr | Consistent | |||
| Exicom Tele-Systems Ltd | — | ₹2,229 Cr | No read | |||
| Servotech Renewable Power System Ltd | 57.7× | ₹2,160 Cr | Mixed | |||
| HPL Electric & Power Ltd | 22.6× | ₹2,144 Cr | Mixed | |||
| Alpex Solar Ltd | 10.6× | ₹2,136 Cr | No read | |||
| IKIO Technologies Ltd | 38.2× | ₹1,583 Cr | Turning around | |||
| Igarashi Motors India Ltd | 118.0× | ₹1,436 Cr | Mixed | |||
| Modern Insulators Ltd | 16.7× | ₹1,122 Cr | Improving | |||
| Modern Insulators Ltd | 17.5× | ₹1,122 Cr | Improving | |||
| Salzer Electronics Ltd | 19.2× | ₹1,018 Cr | Mixed | |||
| Swelect Energy Systems Ltd | 19.6× | ₹930 Cr | Turning around | |||
| Modison Ltd | 11.4× | ₹897 Cr | Improving | |||
| Kirloskar Electric Company Ltd | 95.1× | ₹829 Cr | Turning around | |||
| Focus Lighting & Fixtures Ltd | 96.1× | ₹487 Cr | Turning around |
Frequently asked questions
What is Honda India Power Products Ltd's share price today?
Honda India Power Products Ltd trades at ₹2,124, −29.0% over the past year. The company is valued at ₹2,118 Cr. The stock sits at 20% of its 52-week range of ₹1,931–₹2,908, −7.8% versus its 200-day average. On the tape, the price is in a downtrend, 37 weeks in. — as of 24 July 2026.
What were Honda India Power Products Ltd's latest quarterly results?
Honda India Power Products Ltd reported revenue of ₹265 Cr and net profit of ₹27.0 Cr for the Mar 26 quarter. Revenue fell 1.5% and profit fell 25.0% year on year. Earnings per share were ₹26.54. The operating margin was 11.0%, 5.0 pp lower than a year earlier. — as of 24 July 2026.
What is Honda India Power Products Ltd's revenue?
Honda India Power Products Ltd reported revenue of ₹265 Cr in the Mar 26 quarter, −1.5% year on year. For the full FY26 fiscal year, revenue was ₹865 Cr (+8.9%). Over the last 10 years revenue compounded at 2.5% a year. — as of 24 July 2026.
What is Honda India Power Products Ltd's profit?
Honda India Power Products Ltd earned ₹27.0 Cr of net profit in the Mar 26 quarter, −25.0% year on year. Full-year FY26 profit was ₹64.0 Cr. The operating margin ran 11.0% in the latest quarter. — as of 24 July 2026.
What is Honda India Power Products Ltd's market cap?
Honda India Power Products Ltd's market capitalisation is ₹2,118 Cr at a share price of ₹2,124. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Honda India Power Products Ltd's P/E ratio?
Honda India Power Products Ltd trades at a P/E of 29.5×, at the 79th percentile of its own 10-year range, against a long-run median of 24.9×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Honda India Power Products Ltd pay a dividend?
Yes — Honda India Power Products Ltd's dividend payout was 42% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Honda India Power Products Ltd overvalued?
On its own history, Honda India Power Products Ltd looks expensive against its own history: its P/E of 29.5× sits at the 79th percentile of its 10-year range (long-run median 24.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Honda India Power Products Ltd growing?
Not right now — Honda India Power Products Ltd's latest numbers are shrinking: latest-quarter revenue −1.5% year on year, profit −25.0%, and the margin −5.0 pp at 11.0%. The 10-year compound rates are 2.5% (revenue) and 2.7% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.
How is Honda India Power Products Ltd performing?
Honda India Power Products Ltd is in a downtrend, 37 weeks in. Its latest quarter's revenue fell 1.5% and profit fell 25.0% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Honda India Power Products Ltd in?
Mixed — no clean majority across the growth curves, ROCE slipping at 11.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +9.1% latest, profit growth −20.0% latest, eps growth −19.6% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Honda India Power Products Ltd in an uptrend?
No — the price is in a downtrend (week 37 of stage 4), trading −7.8% versus its 200-day average and at 20% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Honda India Power Products Ltd beating the market?
Not lately — on a trailing-13-week view Honda India Power Products Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-06-19), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +84% against the NIFTY 500's +274% — behind the index over the full window. — as of 24 July 2026.
Will Honda India Power Products Ltd's share price go up?
This page publishes no price forecast for Honda India Power Products Ltd. What it measures instead: the share price is ₹2,124, the price is in a downtrend 37 weeks in. Its P/E of 29.5× sits at the 79th percentile of its own 10-year range. — as of 24 July 2026.
Who owns Honda India Power Products Ltd?
Promoters hold 66.7% of Honda India Power Products Ltd, foreign institutions 1.0%, domestic institutions 18.3% and the public 14.1% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 1.3 points over 8 quarters. — as of 24 July 2026.
Does Honda India Power Products Ltd have too much debt?
No — Honda India Power Products Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill 88×. FY26 borrowings were ₹1.0 Cr against equity of ₹803 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Honda India Power Products Ltd's capex?
Honda India Power Products Ltd spent ₹140 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹83.0 Cr, with ₹43.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Honda India Power Products Ltd's cash flow?
Honda India Power Products Ltd generated ₹−11.0 Cr of operating cash flow in FY26 and ₹−94.0 Cr of free cash flow after ₹83.0 Cr of capital spending. Reported profit that year was ₹64.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Honda India Power Products Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 50% of Honda India Power Products Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−11.0 Cr against reported profit of ₹64.0 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.
Where is Honda India Power Products Ltd in its business cycle?
Honda India Power Products Ltd's FY26 operating margin was 9.0%, against a 13-year band of 8.0%–14.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 11.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Honda India Power Products Ltd story?
Biggest watch item: the P/E sits at the 79th percentile of its own range — the multiple has already done part of the work. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Honda India Power Products Ltd a stock worth studying right now?
This is not investment advice. The machine read: Honda India Power Products Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.