Honda India Power Products Limited Reports 8.7% Revenue Growth in FY 2026
Honda India Power Products Limited (NSE: HONDAPOWER, BSE: 522064)
Introduction
On 26 May 2026, Honda India Power Products Limited (formerly Honda Siel Power Products Limited) filed a board‑meeting outcome with the BSE and NSE, disclosing audited financial results for the quarter and full year ended 31 March 2026, and announcing senior‑management appointments and dividend recommendation.
Board Meeting Highlights
| Item | Details |
|---|---|
| Meeting time | 06:00 PM – 06:37 PM (26 May 2026) |
| Key approvals | • Audited Q4 & FY 2026 results (Annexure A) <br>• Unmodified audit opinion from B S R & Co. LLP (Annexure B) |
| Management changes | • Mr. Sameer Jain appointed Chief Corporate Officer (effective 01 July 2026) <br>• Mr. Sameer Jain (DIN 11737255) appointed Whole‑Time Director (effective 01 Sept 2026), replacing Mr. Vinay Mittal (DIN 05242535) who retires 30 Sept 2026 (subject to AGM approval) |
| Dividend | Board recommends a dividend of ₹ 1.00 per share (≈ J % of face value) for FY 2026, pending AGM approval. |
Financial Performance (INR lakhs)
Income Statement – Highlights
| Metric | Q1 2026 (Mar 31) | FY 2026 (Mar 31) |
|---|---|---|
| Revenue from operations | 26,453 | 86,545 |
| Total income | 27,411 | 90,281 |
| Profit before tax | 3,325 | 9,568 |
| Profit for the period | 2,692 | 6,424 |
| Basic EPS (₹) | 26.54 | 63.33 |
| Diluted EPS (₹) | 26.54 | 63.33 |
| Dividend per share (proposed) | — | ₹ 1.00 |
Note: Exceptional items of ₹ 185 lakhs (quarter) and ₹ ‑999 lakhs (FY) relate to statutory impact of the new Labour Codes (gratuity ₹ 702 lakhs + long‑term compensated absences ₹ 297 lakhs).
Balance Sheet – Key Positions
| Item | 31 Mar 2026 | 31 Mar 2025 |
|---|---|---|
| Total assets | 1,03,182 | 1,04,750 |
| Non‑current assets | 26,656 | 23,149 |
| Current assets | 76,526 | 81,601 |
| Total equity | 80,337 | 86,353 |
| Total liabilities | 22,845 | 18,397 |
| Cash & cash equivalents | 6,633 | 3,065 |
Cash Flow Summary (INR lakhs)
| Category | FY 2026 | FY 2025 |
|---|---|---|
| Operating activities (net) | ‑1,067 | 2,209 |
| Investing activities (net) | +17,241 | ‑6,980 |
| Financing activities (net) | ‑12,639 | ‑2,845 |
| Net change in cash | +3,535 | ‑7,616 |
| Closing cash & equivalents | 6,633 | 3,065 |
Regulatory & Compliance Notes
- Labour Code Impact – The Government’s consolidation of 29 labour laws into four Labour Codes (effective Nov 2025) generated a one‑time statutory expense of ₹ 999 lakhs (FY) recorded under “Exceptional Items”. The company continues to monitor subsequent rule‑making.
- Audit – Statutory auditors issued an unmodified opinion on FY 2026 results, confirming compliance with Indian Accounting Standards (Ind AS).
- Segment Reporting – The business operates in a single segment (“Power Products”) as per Ind AS‑108; no unallocated corporate income/expenses are present.
Investor Takeaways
- Revenue Growth – FY 2026 revenue rose ≈ 8.7 % YoY to ₹ 86,545 lakhs, driven by higher domestic and export sales.
- Profitability – Net profit declined ≈ 19 % YoY to ₹ 6,424 lakhs, mainly due to the statutory labour‑code expense and higher finance costs.
- Liquidity – Cash balances more than doubled, supported by strong investing cash inflows (fixed‑deposit maturities).
- Capital Structure – Equity fell modestly (≈ 7 % YoY) as a portion of retained earnings was used for dividend payout and working‑capital adjustments.
- Management Continuity – Appointment of Mr. Sameer Jain to senior corporate roles signals continuity in corporate governance ahead of the upcoming AGM.
Prepared on the basis of the board‑meeting filing dated 26 May 2026. All figures are presented in INR lakhs unless otherwise noted.
Original Source Document
View the original exchange filing or announcement.
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