Hero Honda Motors Limited
NSE Symbol HEROHONDA
Hero Honda has declared its FY2011 and Q4 FY 11 results – which are analyzed below:
Net Sales for FY 2011 is Rs.19245.03 Cr – up by 22.13% from FY 2010 and up by 56.22% from FY 2009. The same for Q4 FY 11 was Rs.5350.94 cr – up by 4.55% from Q3 (Previous Qtr)FY 11 and up by 30.75% from corresponding qtr (Q4 FY 10).
Total Expenditure for FY 11 has also risen to Rs.17186.54 Cr – up by 29.37% from FY 10 and up By 59.31% from FY 09. The same for Q4 FY 11 is Rs.4798.39% - up by 3.39% from Q3FY11; and up by 38.71% from Q4 FY 10. There is a huge increase in Raw material Cost, and also in depreciation in FY 11.
Consequently, despite best ever sales, Profit from Operations has come down to Rs.2214.61 cr – down by 14.01% from FY 10 ; and UP by 41.16% from FY 09. The same for Q4 FY 11 is Rs.592.54 Cr – up by 13.81% from Q3 FY 11 and Down by 10.64% from Q4 FY 10.
There is an expenditure under Exceptional items in Q3 of FY 11 – of Rs.79.84 Cr. But, Other Income has gone up to Rs.268.14 cr in FY 10 – from Rs.235.63 cr in FY 10 and Rs.180.92 cr in FY 09.
Because of these - Profit before tax is Rs.2404.76 Cr – down by 15.08% from FY 10 and up by 34.99% from FY 09. The Q4 FY 11 PBT is Rs.658.78 cr – up by 29.67% from Q3 FY 11 and Down by 10.62% from Q4 FY 10.
Consolidated Net Profit is Rs.1927.90 Cr – down by 13.62% from FY 10; but up by 50.41% from FY 09. The Net Profit for Q4 FY 11 is Rs.501.61 cr – up by 16.93% from Q3 FY 11 but down by 16.23% from Q4 FY 10.
Consequently, the Basic EPS (before EI) for FY 11 comes to Rs.100.53 on a Face value of Rs.2, which is a great achievement – but nevertheless, slightly lower than the Rs.111.77 clocked in FY 10, but much higher than the Rs.64.19 clocked in FY 09. The same for Q4 FY 11 is Rs.25.12 – against Rs.21.48 in Q3 FY 11 and Rs.29.99 In Q4 FY 10.
Its Rs.2 share is selling at Ras.1742 currently on an EPS Base of Rs.100.53.The PE Ratio is 17.53.
Its rival Bajaj Auto had achieved Basic EPS (in Rs.) of Rs.119.4 in FY 11; Rs.110.4 in FY 10 and Rs.37 in FY 09. This is on (consolidated) Net Sales of Rs.16028.70 cr in FY 11; Rs. 11543.16 cr in FY 10; and Rs.8446.03 in FY 09.We will need to watch how these 2 giants fare in Q1 FY 12 ending June 2011.
The Motor cycles segment of Auto sector is in fine shape as regards Sales are concerned. But, due to pressure on Raw Material cost, and not fully passing on the increased cost to customers – the margins are under slight pressure.
Hero Honda Motors has reported a 39.12 percent rise in sales for April at 517,099 units compared to 371,652 units during the like period of last year.
It sold 5,00,234 units in May 2011 against 4,35,933 units during the same month last year. This is the third consecutive month that the company’s monthly sales have crossed the five lakh mark. Thus, sales-wise, Hero Honda is recording new highs all the time. Whether the Auto Industry will pass on the additional raw material cost to customers is to be seen. The long term prospects of the Industry are however quite good.
RESULTS TABLE :
| FY11 | Q4FY11 | Q3FY11 | Q4FY10 | |||
| Net Sales | 1,924,503.00 | 1,575,818.00 | 1,231,912.00 | 535094 | 511819 | 409261 |
| Other Optg Income | 15,612.00 | 10,233.00 | 3,776.00 | 3999 | 4347 | 2971 |
| Increase in SIT / WIP | -2,406.00 | 595 | -1,821.00 | 174 | 7537 | -1098 |
| Raw Materials | 1,413,517.00 | 1,073,041.00 | 876,022.00 | 392513 | 373949 | 277941 |
| Employees Cost | 61,895.00 | 56,032.00 | 44,865.00 | 16804 | 15608 | 14597 |
| Depreciation | 40,238.00 | 19,147.00 | 18,066.00 | 23739 | 5596 | 4866 |
| Other Expenditure | 205,410.00 | 179,688.00 | 141,670.00 | 46609 | 61414 | 49618 |
| Total Expenditure | 1,718,654.00 | 1,328,503.00 | 1,078,802.00 | 479839 | 464104 | 345924 |
| Profit from Operations | 221,461.00 | 257,548.00 | 156,886.00 | 59254 | 52062 | 66308 |
| Other Income | 26,814.00 | 23,563.00 | 18,092.00 | 7434 | 6203 | 6949 |
| Profit before Int & EI | 248,275.00 | 281,111.00 | 174,978.00 | 66688 | 58265 | 73257 |
| Interest | -185 | -2,062.00 | -3,168.00 | 810 | -522 | -447 |
| Profit after Int BB EI | 248,460.00 | 283,173.00 | 178,146.00 | 65878 | 58787 | 73704 |
| Exceptional items | 7,984.00 | - | - | - | 7984 | - |
| Profit before tax | 240,476.00 | 283,173.00 | 178,146.00 | 65878 | 50803 | 73704 |
| Tax Expense | 47,686.00 | 59,990.00 | 49,970.00 | 15717 | 7903 | 13823 |
| Shares of Associates | 192,790.00 | 223,183.00 | 128,176.00 | |||
| Consolidated Net Profit | 192,790.00 | 223,183.00 | 128,176.00 | 50161 | 42900 | 59881 |
| Dividend (%) | - | 1500 | - | 1750 | - | 1500 |
| Face Value (in Rs.) | 2 | 2 | 2 | 2 | 2 | 2 |
| Paid-up Equity | 3,994.00 | 3,994.00 | 3,994.00 | 3994 | 3994 | 3994 |
| Reserves | 291,612.00 | 342,508.00 | 376,081.00 | - | - | - |
| Basic EPS before EI | 100.53 | 111.77 | 64.19 | 25.12 | 21.48 | 29.99 |
| Diluted EPS before EI | 100.53 | 111.77 | 64.19 | 25.12 | 21.48 | 29.99 |
| Basic EPS after EI | 96.54 | 111.77 | 64.19 | 25.12 | 21.48 | 29.99 |
| Diluted EPS after EI | 96.54 | 111.77 | 64.19 | 25.12 | 21.48 | 29.99 |
| Public holding (%) | 47.79 | 45.04 | 45.04 | 47.79 | 47.79 | 45.04 |
ANNOUNCEMENTS TO NSE
04-05-2011 Hero Honda Motors press release dated May 04, 2011, titled "HERO HONDA POSTS BEST-EVER ANNUAL REVENUES AND SALES IN FY 2011".
04-05-2011 Hero Honda Motors recommended a final dividend @ 1750% i.e. Rs.35/- per equity share of Rs.2/- each for the financial year 2010-11.
04-05-2011 Hero Honda standalone Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 1924503 lacs for year ending on 31-MAR-2011 against Rs. 1575818 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 192790 lacs for the year ending on 31-MAR-2011 against Rs. 223183 lacs for the year ending on 31-MAR-2010.
13-04-2011 Hero Honda Motors declared an Interim Dividend @ 3500% i.e. Rs.70/- per equity share of Rs.2/- each.
01-04-2011 pursuant to a share transfer agreement amongst the promoters of the Company, Honda Motor Co., Ltd., Japan ("Honda Motor") has transferred whole of its shareholding/voting rights in the Company to Hero Investments Private Limited, forming part of the Indian Promoter Group of the Company. Consequent to the same, Honda Motor ceases to be a promoter within the meaning of the term under all applicable securities laws including the Listing Agreements(s) with the stock exchanges.
02-02-2011 Hero Honda press release dated February 02, 2011, titled "HERO HONDA REPORTS TURNOVER OF RS. 5161.66 CRORE FOR Q3' IN FY'11".
24-01-2011 Hero Honda Motors Ltd. and Honda Motor Co., Japan on January 22, 2011 executed final binding licensing agreements with respect to existing Products and new products following the MoU of December 16, 2010, which had been approved by their respective Boards of Directors.
16-12-2010 Hero Honda press release dated December 16, 2010, titled "Honda & Hero Honda sign MoU for New Licensing Arrangement".
29-10-2010 "HERO HONDA RECORDS BEST-EVER QUARTERLY SALES & TURNOVER IN Q2'11."
29-10-2010 Hero Honda Motors standalone Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 451129 lacs for quarter ending on 30-SEP-2010 against Rs. 404010 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 50560 lacs for the quarter ending on 30-SEP-2010 against Rs. 59714 lacs for the quarter ending on 30-SEP-2009.
29-07-2010 Hero Honda Motors press release dated July 29, 2010 , titled " Hero Honda registers highest - ever quarterly sales of 1.2 mn, reports 5th consecutive quarter of million-plus unit sales".
29-07-2010 Hero Honda Motors standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 426461 lacs for quarter ending on 30-JUN-2010 against Rs. 381105 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 49169 lacs for the quarter ending on 30-JUN-2010 against Rs. 50011 lacs for the quarter ending on 30-JUN-2009.
14-07-2010 the Indian Promoter Group of the Company, comprising of Hero Investments Private Limited ("HIPL"), Bahadur Chand Investment Private Limited ("BCIPL") and Hero Cycles Limited ("Hero Cycles") which together owned 26% of the paid up share capital of the Company have, pursuant to a family arrangement, realigned their shareholding in the Company. In view of the same, Hero Cycles had transferred its holding in the Company to HIPL. Consequently, the Indian Promoter Group of the Company now comprises of HIPL and BCIPL, owned and controlled entirely by the Munjal Family headed by Shri Brijmohan Lall Munjal, Chairman of the Company.
19-04-2010 "Hero Honda posts record Annual Revenues and Bottom Line for Fiscal 2010".
19-04-2010 Hero Honda (1) Considered and recommended a final dividend @ 1500% i.e. Rs.30/- per equity share of Rs.2/- each for the financial year 2009-10.
19-04-2010 Hero Honda standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 409261 lacs for quarter ending on 31-MAR-2010 against Rs. 341184 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 59881 lacs for the quarter ending on 31-MAR-2010 against Rs. 40217 lacs for the quarter ending on 31-MAR-2009.
19-04-2010 standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 1575818 lacs for year ending on 31-MAR-2010 against Rs. 1231912 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 223183 lacs for the year ending on 31-MAR-2010 against Rs. 128176 lacs for the year ending on 31-MAR-2009.
30-03-2010 Hero Honda (a) Considered and declared a Silver Jubilee Special Dividend @ 4000% i.e. Rs. 80/- per equity share of Rs.2/- each. (b) Considered and decided to fix April 15, 2010 as Record Date for ascertaining the entitlement of members for payment of aforesaid Silver Jubilee Special Dividend in pursuance to the provisions of Section 154 of the Companies Act, 1956.
* * * E N D * * *
No comments:
Post a Comment