Hero MotoCorp Limited
NSE Symbol HEROMOTOCO
HERO
MOTOCORP (HERO HONDA) has produced Excellent performance
in Q3 FY 12 ending Dec,2011.
Net
Sales stands at Rs.5983.55 in Q3 FY 12 –
compared to Rs.5784.32 cr in Q2 FY 12, the previous qtr (up by 3.44%); and Rs.5118.19
cr in Q3 FY 11, the corresponding Qtr (Up by 16.91%).
Profit
from Operations stands at Rs.644.34 cr in Q3 FY 12 –
compared to Rs.640.22 cr in Q2 FY 12 (Up by 0.64%) and Rs.520.62 cr in Q3 FY 11 (Up by 23.76%).
Profit
before tax stands at Rs.723.80 cr in Q3 FY 12 –
compared to Rs.724.46 cr in Q2 FY 12 (down by -0.09%); and Rs.508.03 cr in Q3
FY 11 (Up by 42.47%).
Tax
expense stands at Rs.110.77 cr in Q3 FY 12;
compared to Rs.120.84 cr in Q2 FY 12 (down by -8.33%) and Rs.79.03 cr in Q3 FY
11 (up by 40.16%).
Net
Profit stands at Rs.613.03 cr in Q# FY 12 –
compared to Rs.603.62 Cr in Q2 FY 12 (Up by 1.56%); and Rs.429 Cr in Q3 FY 11
(Up by an impressive 42.9%).
On a Face Value of
Rs.2, the Basic EPS stands
at Rs.30.7 in Q3 FY 12; Rs.30.23 in Q2 FY 12; and Rs.27.94 for Q1 FY12.
The annual EPS will
be around Rs.119.57.
The current Market Price is
Rs.1884; while the 52
week high price is Rs.2249.70 and the 52 week low price is Rs.1375.75.
The Price Earning Ratio works out to 15.76.
SALES
PERFORMANCE
The
Q3 of FY’12 (October – December’11) reported the most successful quarter for
Hero MotoCorp with sales of 15,89,276 units, up by 11.3% over the corresponding
quarter in FY’11, when the company had sold 14,28,030 units.
The
cumulative sales of Hero MotoCorp in the period April-December 2011, has now
risen to 46,63,168 units, a 18.1% growth over the corresponding period
last year (April-December’10) when the company had sold 39,47,713 units.
Compare the above Financial Performance of Hero Motocorp –
with the following details of Bajaj Auto :
BAL Net Profit stands
at Rs.795.19 Cr in Q3 FY 12; compared to Rs.725.80 cr in Q2 FY 12 (Up by 9.56%);
and Rs.667.11 Cr in Q3 FY 11 (Up by 19.2%).
BAL : On a Face value o Rs.10, the Basic
EPS stands at Rs.27.5 in Q3 FY 11; Rs.25.1 in Q2
FY 11; and Rs.24.6 in Q1 FY 12; The EPS
for Q3 FY 11 was Rs.23.1.
The
annual EPS is likely to be around Rs.104.7.
BAL : Current Market
Price is Rs.1465.55, while the 52
week high price is Rs.1823.55 and the 52 week low price is Rs.1165.65.
BAL : On this Basis, the Price Earning
Ratio is 14.
We
find, Bajaj Auto has crossed Hero in Net profit. But annual EPS at 104.7 is less than Hero at Rs.119.57 because of
higher Equity. PE Ratio of Bajaj Auto stands at 14 against 15.76 of Hero Motocorp.
Overall
– Both are evenly Matched and are Great Buys for medium to long term Investors.
RESULTS TABLE
hero
motocorp
|
31-Dec-11
|
30-Sep-11
|
%DIF1
|
31-Dec-10
|
%DIF2
|
Net Sales
|
598355
|
578432
|
3.44
|
511819
|
16.91
|
Other Operating Income
|
4790
|
4500
|
6.44
|
4347
|
10.19
|
Increase in SIT/WIP
|
-5864
|
-4023
|
45.76
|
7537
|
-177.8
|
Raw Materials
|
445344
|
426397
|
4.44
|
373949
|
19.09
|
Employees Cost
|
19932
|
17937
|
11.12
|
15608
|
27.7
|
Depreciation
|
29865
|
27849
|
7.24
|
5596
|
433.68
|
Other Expenditure
|
49434
|
50750
|
-2.59
|
61414
|
-19.51
|
Total Expenditure
|
538711
|
518910
|
3.82
|
464104
|
16.08
|
Profit from Operations
|
64434
|
64022
|
0.64
|
52062
|
23.76
|
Other Income
|
7628
|
7975
|
-4.35
|
6203
|
22.97
|
Interest
|
-318
|
-449
|
-29.18
|
-522
|
-39.08
|
Profit before tax
|
72380
|
72446
|
-0.09
|
50803
|
42.47
|
Tax expense
|
11077
|
12084
|
-8.33
|
7903
|
40.16
|
Net Profit
|
61303
|
60362
|
1.56
|
42900
|
42.9
|
Face Value (In Rs
|
2
|
2
|
0
|
2
|
0
|
Paid Up Equity
|
3994
|
3994
|
0
|
3994
|
0
|
Basic EPS
|
30.7
|
30.23
|
1.55
|
21.48
|
42.92
|
Public holding (%)
|
47.79
|
47.79
|
0
|
47.79
|
0
|
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* E N
D * * *
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