Honda India Power Products Limited (HONDAPOWER)
₹1,834.60 +0.43% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Honda India's revenue was ₹189 Cr (+22.1% year on year, -28.6% on the previous quarter), and net profit ₹11.1 Cr (+23.3% year on year); the operating margin was 7.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹189 | +22.1% | -28.6% |
| Operating profit | ₹14.4 | +80.4% | -51.9% |
| Net profit | ₹11.1 | +23.3% | -58.9% |
| EPS (₹) | 10.94 | +17.0% | -58.8% |
| Operating margin | 7.6% | — | — |
HONDAPOWER delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 53.44% of the HONDAPOWER shares traded on NSE were taken to delivery, against the stock's own 20-session average of 57.52%. That is close to its usual level. Turnover was only ₹62 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 57.9% · 60.7% · 51.2% · 58.3% · 53.4%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Honda India Power Products Limited has submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate issued by Registrar and Share Transfer Agent MAS Services Limited confirms that all securities received for dematerialisation between July 1, 2026, and September 30, 2026, were processed, confirmed, or rejected within 15 days. Additionally, the physical security certificates received were verified, mutilated, and cancelled as per standard depository regulations. This is a recurring administrative compliance filing with no impact on business operations.
- Compliance certificate covers the quarter ended September 30, 2026
- Processing and confirmation of dematerialisation requests completed within the mandated 15 days
- Period covered extends from 01/07/2026 to 30/09/2026
- Certified by Registrar and Share Transfer Agent MAS Services Limited on October 06, 2026
Honda India Power Products received an Income Tax assessment order for Assessment Year 2023-24 with expenditure disallowances resulting in a tax demand (including interest) of ₹29.82 crore. This demand represents approximately 45.2% of its TTM net profit of ₹66 crore. The company stated that similar issues for previous years have already been ruled in its favour by higher courts. Honda India Power plans to challenge the order by filing an appeal before the Income Tax Appellate Tribunal (ITAT).
- Received tax assessment order u/s 143(3) r.w.s. 144C(13) read with 144B for AY 2023-24
- Total tax demand including interest stands at ₹29.82 Crores
- Demand equals ~45.2% of FY TTM PAT (₹66 Cr)
- Communication received on September 09, 2026 at 08:47 AM
- Company to appeal before the Income Tax Appellate Tribunal (ITAT)
Honda India Power Products Limited has appointed Mr. Hideki Sawauchi as Senior Advisor - Purchasing, categorized as Senior Management Personnel (SMP), effective August 31, 2026. Mr. Sawauchi brings 28 years of experience in procurement, strategic sourcing, supplier development, and cost optimization. The appointment follows standard company policy applicable to Japanese expatriates. This is a routine executive personnel appointment with no immediate financial impact.
- Appointment of Mr. Hideki Sawauchi as Senior Advisor - Purchasing (SMP) effective August 31, 2026
- Candidate brings 28 years of professional experience in purchasing and supply chain operations
- Term of appointment governed by the company's policy applicable to Japanese expatriates
Honda India Power Products Limited has submitted voting results and the scrutinizer's report for its 41st Annual General Meeting held on August 26, 2026. All proposed ordinary resolutions were approved by shareholders with the requisite majority. Key approvals include the declaration of a final dividend of ₹23 per equity share (230% of face value ₹10) for FY26, the appointment of Mr. Sameer Jain as Whole Time Director, and related party transactions with Honda Motor Co. Ltd., Japan, and American Honda Motor Co. Inc. for FY27 and FY28.
- Final dividend approved at ₹23 per equity share (230%) on face value of ₹10 for FY26
- Dividend resolution passed with 99.9998% votes in favour (8,683,538 votes)
- Appointment of Mr. Sameer Jain as Whole Time Director approved with 99.8751% votes in favour
- Related party transactions with Honda Motor Co. Ltd., Japan, and American Honda Motor Co. Inc. approved for FY27 and FY28
Honda India Power Products Limited announced that its members have approved the appointment of Mr. Sameer Jain as Whole Time Director. The appointment is effective for a 5-year tenure starting September 01, 2026, through August 31, 2031. Mr. Jain brings nearly 30 years of professional experience across corporate finance, budgeting, pricing strategy, and treasury operations. This represents a planned leadership addition to the company's executive board.
- Appointment of Mr. Sameer Jain as Whole Time Director approved on August 26, 2026
- Term of appointment fixed for 5 years from September 01, 2026, to August 31, 2031
- Mr. Jain holds nearly 30 years (three decades) of experience across finance and strategic planning
- No inter-se relationship with any existing directors of the company
Honda India Power Products Limited concluded its 41st Annual General Meeting on August 26, 2026, attended by 71 members via video conferencing. Key ordinary business included the adoption of FY26 financial statements and the declaration of a final dividend of ₹23 per equity share (230% on ₹10 face value). Special business items placed for voting included the appointment of Mr. Sameer Jain as Whole Time Director along with multiple related party transactions (including royalty payments) with Honda Motor Co. Ltd., Japan and American Honda Motor Co. Inc. for FY27 and FY28. Detailed e-voting scrutinizer results will be submitted separately.
- Conducted 41st AGM on August 26, 2026 with 71 members attending via video conferencing
- Declared final dividend of ₹23 per equity share (230% on face value of ₹10) for FY26
- Voted on appointment of Mr. Sameer Jain as Whole Time Director and re-appointment of retiring director Mr. Akihiro Sakurai
- Tabled related party transactions and royalty approvals with Honda Motor Co. Ltd., Japan and American Honda Motor Co. Inc. for FY27 and FY28
Honda India Power Products has announced the schedule for its 41st Annual General Meeting (AGM) and final dividend for FY 2025-26. The company recommended a final dividend of Rs 23 per share (230% of face value), with the record date fixed for August 19, 2026. Payment is scheduled for September 17, 2026, provided shareholder approval is obtained at the AGM on August 26, 2026. Notably, the company emphasized that dividends will be withheld for shareholders who have not updated their PAN, KYC, and bank details as per SEBI mandates.
- Final dividend recommended at Rs 23 per equity share of Rs 10 face value (230%).
- Record date for dividend eligibility and e-voting cut-off is August 19, 2026.
- 41st Annual General Meeting (AGM) to be held on August 26, 2026, via video conferencing.
- Final dividend payment date scheduled for September 17, 2026.
- Mandatory electronic payment requirement as per SEBI circular dated February 6, 2026.
Honda India Power Products Limited has announced August 19, 2026, as the record date for determining shareholder eligibility for its upcoming dividend. The company will also observe a book closure period from August 20 to August 26, 2026. This follows a fiscal year (FY26) where the company reported a net profit of ₹64 crore on revenue of ₹866 crore. The announcement is a routine administrative step following the conclusion of the financial year.
- Record date for dividend payment fixed for August 19, 2026
- Book closure period scheduled from August 20, 2026, to August 26, 2026
- Company reported TTM PAT of ₹64 crore against a market cap of ₹2,142 crore
- TTM Revenue stands at ₹866 crore with an operating profit margin of 9.4%
Honda India Power Products has scheduled its 41st Annual General Meeting (AGM) for August 26, 2026. The company has proposed a final dividend of ₹23 per equity share for FY 2025-26, representing a payout ratio of approximately 36% based on the FY26 EPS of ₹63.33. Additionally, the board has proposed the appointment of Mr. Sameer Jain as Whole Time Director for a five-year term starting September 1, 2026. The record date for the dividend is fixed for August 19, 2026.
- Final dividend of ₹23 per equity share (230% of face value) proposed for FY 2025-26.
- Record date for dividend eligibility set for August 19, 2026.
- Appointment of Mr. Sameer Jain as Whole Time Director for a 5-year tenure with a basic salary of ₹7,50,000 per month.
- FY26 annual revenue reported at ₹866 Cr with a PAT of ₹64 Cr.
- Register of Members and Share Transfer books to remain closed from August 20 to August 26, 2026.
Honda India Power Products Limited has announced the retirement of Ms. Shankaran Radhika, who served as the General Manager - Finance & Accounts and was classified as Senior Management Personnel (SMP). Her retirement is effective from the close of business hours on July 31, 2026. This is a routine administrative change in the company's management structure. No successor has been named in this specific filing.
- Ms. Shankaran Radhika to retire as General Manager - Finance & Accounts on July 31, 2026
- Cessation of Senior Management Personnel (SMP) status effective August 01, 2026
- The company reported TTM revenue of Rs 866 Cr and TTM PAT of Rs 64 Cr as of the latest period
- Promoter holding remains stable at 66.67% as of March 2026
Honda India Power Products Limited has announced a transition in its top leadership following a board meeting on July 30, 2026. Mr. Sameer Jain, a finance professional with nearly 30 years of experience, will take over as Chief Financial Officer effective October 1, 2026. He succeeds Mr. Vinay Mittal, who is set to retire from the CFO position on September 30, 2026, and will resign as a Whole Time Director earlier on September 1, 2026. The board also approved the unaudited financial results for the quarter ended June 30, 2026.
- Appointment of Mr. Sameer Jain as CFO effective October 01, 2026
- Retirement of current CFO Mr. Vinay Mittal on September 30, 2026
- Resignation of Mr. Vinay Mittal as Whole Time Director effective September 01, 2026
- New CFO Mr. Sameer Jain brings nearly 30 years of experience in business planning and treasury
- Board meeting concluded within 33 minutes (05:15 P.M. to 05:48 P.M.)
Honda India Power Products Limited has announced a planned leadership transition in its finance department. Mr. Vinay Mittal will resign as Whole Time Director on September 01, 2026, and retire as Chief Financial Officer (CFO) on September 30, 2026. The board has appointed Mr. Sameer Jain as the new CFO effective October 01, 2026. Mr. Jain brings nearly 30 years of experience and was previously recognized as 'Finance Leader of the Year - Auto 2023'.
- Mr. Vinay Mittal to step down as Whole Time Director effective September 01, 2026.
- Mr. Vinay Mittal to retire as CFO effective close of business hours on September 30, 2026.
- Mr. Sameer Jain appointed as CFO effective October 01, 2026.
- Incoming CFO Sameer Jain has nearly 30 years of experience in business planning, treasury, and tax compliance.
- The transition occurs as the company manages a TTM revenue of Rs 866 Cr and a 192% increase in CWIP for facility upgrades.
Honda India Power Products Limited has announced a planned leadership transition in its finance department. Mr. Sameer Jain will take over as Chief Financial Officer (CFO) effective October 01, 2026, succeeding Mr. Vinay Mittal, who will retire on September 30, 2026. Additionally, Mr. Mittal will step down from his position as Whole Time Director earlier on September 01, 2026. This change comes as the company manages a TTM revenue of ₹866 crore and maintains a debt-free balance sheet.
- Mr. Sameer Jain appointed as CFO effective October 01, 2026.
- Mr. Vinay Mittal to retire as CFO on September 30, 2026, and resign as Whole Time Director on September 01, 2026.
- Incoming CFO Sameer Jain brings nearly 30 years of experience and was named 'Finance Leader of the Year - Auto 2023'.
- The transition occurs while the company maintains a strong net worth of ₹803 crore and zero debt.
Honda India Power Products Limited has announced a planned leadership transition in its finance department. Mr. Sameer Jain, a seasoned professional with nearly 30 years of experience, will take over as Chief Financial Officer effective October 01, 2026. This follows the retirement of the current CFO, Mr. Vinay Mittal, who will step down from his CFO role on September 30, 2026, and resign as a Whole Time Director earlier on September 01, 2026. The transition comes as the company manages a TTM revenue of ₹866 Cr and a net worth of ₹803 Cr.
- Mr. Sameer Jain appointed as CFO effective October 01, 2026, bringing nearly 3 decades of experience.
- Current CFO Mr. Vinay Mittal to retire from the company on September 30, 2026.
- Mr. Vinay Mittal will resign from the position of Whole Time Director earlier on September 01, 2026.
- The incoming CFO was previously honored as 'Finance Leader of the Year - Auto 2023'.
- The company maintains a strong balance sheet with a Debt/Equity ratio of 0.00.
Honda India Power Products has approved its unaudited financial results for the quarter ended June 30, 2026. The company also announced a significant leadership transition: Mr. Sameer Jain will take over as Chief Financial Officer effective October 1, 2026. He succeeds Mr. Vinay Mittal, who is retiring from the CFO role on September 30, 2026, and will resign as a Whole Time Director on September 1, 2026. This transition occurs as the company manages a TTM revenue of Rs 866 Cr and a market cap of Rs 2,142 Cr.
- Appointment of Mr. Sameer Jain as CFO effective October 1, 2026, bringing nearly 30 years of experience.
- Retirement of current CFO Mr. Vinay Mittal effective close of business September 30, 2026.
- Resignation of Mr. Vinay Mittal from the position of Whole Time Director effective September 1, 2026.
- Board meeting concluded in 33 minutes, running from 5:15 P.M. to 5:48 P.M. on July 30, 2026.
- Company maintains a strong debt-free balance sheet with a net worth of Rs 803 Cr.
Financial Performance
Revenue Growth by Segment
The Company operates in a single segment: 'Power Products', which saw a revenue growth of 2.85% YoY to INR 33,052 lakhs for H1 FY26 compared to INR 32,137 lakhs in H1 FY25.
Geographic Revenue Split
Not disclosed in percentage; however, the company is a net foreign exchange earner with INR 16,095 lakhs in export earnings (approx. 48% of H1 revenue) and has a strong domestic presence in Eastern, Central, and Southern India.
Profitability Margins
Net Profit Margin for FY25 was 10.06%, up from 9.32% in FY24. However, PBT for H1 FY26 declined 16.36% YoY to INR 2,786 lakhs due to a 21.65% increase in raw material costs.
EBITDA Margin
Estimated at 6.3% for H1 FY26, reflecting core profitability after adjusting for INR 1,837 lakhs in interest income and INR 1,124 lakhs in depreciation.
Capital Expenditure
Historical capex for H1 FY26 included INR 2,218 lakhs in PPE payments; Capital Work-in-Progress increased 192% to INR 1,865 lakhs for future capacity/upgrades.
Credit Rating & Borrowing
Not disclosed in available documents; finance costs are minimal at INR 7 lakhs, suggesting low leverage.
Operational Drivers
Raw Materials
Engine components, casting materials, and E10/E20 gasoline-compliant parts; cost of materials consumed represents 60.3% of total revenue.
Import Sources
Japan (via Honda Motor Co. Ltd. technical expertise) and domestic Indian suppliers.
Capacity Expansion
CWIP increased by 192% to INR 1,865 lakhs as of September 2025, focused on upgrading manufacturing facilities for E20 gasoline compliance and new engine models like the GX200.
Raw Material Costs
INR 19,926 lakhs in H1 FY26, a 21.65% increase YoY, squeezing PBT margins from 10.3% to 8.4%.
Manufacturing Efficiency
Introduction of the GX200 engine with rpm reduction for higher torque and process efficiency improvements via global Honda standards.
Strategic Growth
Expected Growth Rate
10%
Growth Strategy
Expansion of the water pump portfolio with the new 4-inch model, rollout of E20 gasoline-compliant gensets to meet new regulations, and increasing penetration in the construction segment through portable machinery.
Products & Services
Water pumps (1.5 to 4-inch), Brush cutters, Engines (GX200), and Portable Generators.
Brand Portfolio
Honda.
New Products/Services
4-inch outlet water pump (launched Aug 2024), GX200 high-torque engine, and E10/E20 gasoline-compliant gensets.
Market Expansion
Targeting construction segment mechanization and multi-channel structures with specialized OEM partners.
Market Share & Ranking
Market leader in the water pump segment, specifically the 2-inch category with 60k+ units sold.
Strategic Alliances
Technical collaboration and on-the-job training with Honda Motor Co. Ltd., Japan.
External Factors
Industry Trends
Shift towards electrification and E20 gasoline; 2-inch water pump segment growing with 60k+ unit milestone; construction mechanization increasing.
Competitive Landscape
Competing with diesel water pump manufacturers; successfully converting users to 4-stroke petrol/kerosene models.
Competitive Moat
Strong brand equity of 'Honda', access to superior Japanese technology, and a dominant 60k+ unit volume in the 2-inch pump segment.
Macro Economic Sensitivity
Sensitive to government agricultural spending and infrastructure growth; PBT fell 10% in FY25 partly due to slow fund releases.
Consumer Behavior
Farmers shifting from bulky diesel pumps to portable 4-inch outlet water pumps for better usability.
Geopolitical Risks
Export compliance with USA regulations (EPA/CARB) makes the company sensitive to US trade and environmental policy changes.
Regulatory & Governance
Industry Regulations
Transition to E20 gasoline norms and compliance with international EPA/CARB/CPSC/ANSI standards for exports.
Environmental Compliance
Investment in E20 gasoline technology and 300 kw solar plant; compliance with G300 regulations for USA.
Taxation Policy Impact
Effective tax rate based on H1 FY26: INR 1,272 lakhs paid on PBT of INR 2,786 lakhs (approx 45% including interest/refunds).
Legal Contingencies
Notice issued by authority with no material financial impact; no major pending litigation mentioned.
Risk Analysis
Key Uncertainties
Volatility in raw material costs (up 21.65% YoY) and delays in government agricultural subsidies (impacts demand).
Geographic Concentration Risk
Strong presence in Eastern, Central, and Southern India; significant export exposure to the USA.
Third Party Dependencies
High dependency on Honda Motor Co. Ltd., Japan for technology absorption and manufacturing quality standards.
Technology Obsolescence Risk
Risk of transition to full electrification; company is mitigating by integrating electrification technologies into power units.
Credit & Counterparty Risk
Trade receivables reduced by 47% to INR 6,232 lakhs, indicating high-quality receivables and efficient collection.
