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Balance Sheet Common Size

Particulars 17-18 16-17 Percentage of 17-18 Percentage of 16-17


ASSETS
Non Current assets
Property,plant and equipment 4,485.89 4,485.89 26.80 30.53
Capital work-in-progress 203.78 203.78 1.22 1.39
intangible assets 168.65 84.86 1.01 0.58
intangible assets under devlopment 114.61 194.33 0.68 1.32
Financial Assets
Investments 1,934.08 1,349.00 11.55 9.18
Loans 45.68 48.36 0.27 0.33
Income tax assets 379.26 331.94 2.27 2.26
Other non current assets 558.67 651.14 3.34 4.43
Total Non-current assets 7,890.62 7,241.08 47.14 49.28
Current Assets
Inventories 823.58 656.31 4.92 4.47
Investments 5,591.12 4,540.85 33.40 30.90
Trade Recievables 1,520.18 1,561.87 9.08 10.63
Cash and Cash equivalent 34.38 15.4 0.21 0.10
Bank Balances other than 106.96 121.33 0.64 0.83
Loans 27.56 24.18 0.16 0.16
Others 539.37 144.95 3.22 0.99
Other Current Assets 205.03 388.29 1.22 2.64

Total Current Assets 8,848.18 7,453.18 52.86 50.72

Total assets 16,738.80 14,694.26 100.00 100.00


EQUITY AND LIABLITIES
Equity share capital 39.94 39.94 0.24 0.27
Other equity 11,728.94 10,071.35 70.07 68.54
Total Equity 11,768.88 10,111.29 70.31 68.81
Non-current Liablities 0.094675
Provisions 114.94 75.3 0.69 0.51
Deffered tax liablities 511.66 414.34 3.06 2.82
Total non-current Liablities 626.6 489.64 3.74 3.33
Current Liablities
Financial Liablities
Trade Payables 3,318.81 3,247.27 19.83 22.10
Other Financial Liablities 202.14 352.77 1.21 2.40
Other current liablities 762.58 454.28 4.56 3.09
Provisions 59.79 39.01 0.36 0.27
Total Current Liablities 4,343.32 4,093.33 25.95 27.86
Total Equity and liablities 16,738.80 14,694.26 100.00 100.00
·        Sales Growth Year On Year
2017- 2016-
Particulars 2018(in 2017(in
crs) crs)
Revenue from operations 32,871.82 30,871.59

Dividend Per Share RS


FY 2017-18 95
FY 2016-17 85
Earning Per Share RS

2017-18 185.14
2016-17 169.12

EBITDA Margin RS
2017-18 16.38
2016-17 16.26

Ratios 17-18 16-17

Current Ratio 0.75 0.71

Acid Test Ratio 0.56 0.55


Return On Average Capital Employed
47.94 49.18
Return On Average Equity 33.8 35.65
Profit after Tax / Income from
Operations 11.47 11.85
Debt to Equity Ratio 0.053 0.049
Inventory Period (in days) 10.14 10.18
Inventory and Receivable Conversion
Period (in days) 24.65 26.97
Cash Cycle -18.76 -20.92
Hero MotoCorp LTD

Income statement common size

Particulars 17-18 16-17


Income
Revenue from operations 32871.82 30871.59
Other income 525.82 522.43
Total Income 33397.64 31394.02
Expenses
Cost of raw material consumed 21857.79 18974.11
Change in inventories of finished goods and work-in-progress -23.15 63.17
Excise duty on sale of goods 641.33 2371.13
-1729.8 Employee benefit expenses 1540.13 1396.01
-0.72953 Finance costs 6.25 6.05
Depreciation and amortisation expenses 555.6 492.73
Other expenses 3575.53 3432.36
Total expenses 28153.48 26735.56
Profit before tax 5244.16 4658.46
585.08 Tax expense
0.433714 Current tax 1446.95 1082.08
Deferred tax 99.85 199.26
Total tax expense 1546.8 1281.34
Profit for the year 3697.36 3377.12
Ot her comprehensive income

Items that will not be reclassified subsequently to profit or loss


Re-measurement losses on defined benefit plans
1,050.27 Income tax effect -7.24 -21.53
0.231294 Income tax effect 2.53 7.45
Net other comprehensive income not to be reclassified to profit or loss -4.71 -14.08
Total comprehensive income for the year, net of income tax 3692.65 3363.04
Earnings per share (of ` 2 each) in `
(a) Basic 185.14 169.12
(b) Diluted 185.13 169.12
Industry Type

Hero MotoCorp Ltd is a player in automobile industry. Hero MotoCorp Ltd. is


the world's largest manufacturer of two – wheelers, based in India

Business Model

Hero sells two types of products that are motorcycle and scooters. In the
Entry segment, the Company volumes grew a robust 33%, further increasing
its market share by 5% to fortify its segment leadership with a total market
share of 60%. Volumes in the deluxe segment grew by 9% and the Company
continued to stand tall with a 69% market share in that segment. In the
Premium segment, however, the Company lost market share. To address the
situation in this segment, Company has planned new launches for the
coming year.

The Scooter business saw a volume growth of 12% and clocked 8.8 lakh units
for FY18
Changing regulations, the Company expects a transformation in the industry.
Hence, there was an immediate need to support and build a strong and
robust eco-system across the entire supply chain.
For HMCL, FY18 was a year of product launches, multiple initiatives, and
focus on digitalization for higher efficiencies and high energy marketing
campaigns, both in the traditional and digital space.

The Company’s products are available in over 37 countries across the globe.
With a plant each in Bangladesh and Colombia, the Company is steadily
strengthening its global presence. FY18 was a further step ahead in creating
what will be a true Indian MNC.

The industry grew at a healthy clip of 15%.In domestic market, a growth of


14% over last year of the company. Company posted record sales numbers
for the year and achieved the distinction of being the first global two-
wheeler Company to record 7.59 million unit sales in a year.
Automobile exports from India increased at a healthy rate of 16.12%. This
benefited the company because company export also increased.

Capital Structure
Debt is 5% (Rs 626.60 Crs) and equity is 95 % (Rs 11,768.88 Crs).
Long Term Liabilities without reserves is Rs 666.54 C.
Short Term Borrowings are Rs 202.14 (Crs) to support Funding.
Long-Term Assets amount to Rs. 7,890.62 (Crs) so there is A Risk in Balance
Sheet without Reserves.
Research and Development is Rs 114.61 (Crs) because this is a growing
automobile company

Working Capital and operating cycle


Inventories + Debtors – Creditors =
Year 2017 656.31+1,561.87-3,247.27 amounts to (-1029.09)
Year 2018 823.58+ 1,520.18- 3,318.81 amounts to (-975.05)

Creditors are increasing this means that company has the bargaining power
to maintain creditors and since its sales growth rate is 6.47% in two wheeler
industry as compared to other two wheeler company as mentioned in MDA

·        Company posted record sales numbers for the year and achieved the
distinction of being the first global two-wheeler Company to record 7.59
million unit sales in a year.
·         Company achieved 73.6 lakh two-wheeler despatches in domestic
market, a growth of 14% over last year.
·        Company continued to stand tall with a 60% market share in entry level
and 69% market share in deluxe segment.
Balance Sheet Percentage Change

Percentage of 17-18 Percentage of 16-17


ASSETS
98.43 98.34 Non Current assets
1.57 1.66 Property,plant and equipment 4485.89 4485.89
100.00 100.00 Capital work-in-progress 203.78 203.78
intangible assets 168.65 84.86
65.45 60.44 intangible assets under devlopment 114.61 194.33
-0.07 0.20 Financial Assets
1.92 7.55 Investments 1934.08 1349
4.61 4.45 Loans 45.68 48.36
0.02 0.02 Income tax assets 379.26 331.94
1.66 1.57 Other non current assets 558.67 651.14
10.71 10.93 Total Non-current assets 7890.62 7241.08
84.30 85.16 Current Assets
15.70 14.84 Inventories 823.58 656.31
Investments 5591.12 4540.85
4.33 3.45 Trade Recievables 1520.18 1561.87
0.30 0.63 Cash and Cash equivalent 34.38 15.4
4.63 4.08 Bank Balances other than 106.96 121.33
11.07 10.76 Loans 27.56 24.18
Others 539.37 144.95
Other Current Assets 205.03 388.29

-0.02 -0.07 Total Current Assets 8848.18 7453.18


0.01 0.02
-0.01 -0.04 Total assets 16738.8 14694.26
11.06 10.71 EQUITY AND LIABLITIES
Equity share capital 39.94 39.94
0.55 0.54 Other equity 11728.94 10071.35
0.55 0.54 Total Equity 11768.88 10111.29
Non-current Liablities
Provisions 114.94 75.3
Deffered tax liablities 511.66 414.34
Total non-current Liablities 626.6 489.64
Current Liablities
Financial Liablities
Trade Payables 3318.81 3247.27
Other Financial Liablities 202.14 352.77
Other current liablities 762.58 454.28
Provisions 59.79 39.01
Total Current Liablities 4343.32 4093.33
Total Equity and liablities 16738.8 14694.26
3,465.46 0% 29%
288.34 0% -29%
118.89 99% -29%
194.33 -41% 0%

1,111.91 43% 21%


26.7 -6% 81%
331.94 14% 0%
884.07 -14% -26%
6,421.64 9% 13%

672.98 25% -2%


3,469.11 23% 31%
1,282.80 -3% 22%
26.95 123% -43%
104.41 -12% 16%
23.12 14% 5%
22.28 272% 551%
549.57 -47% -29%

6,151.22 19% 21%

12,572.86 14% 17%

39.94 0% 0%
8,794.47 16% 15%
8,834.41 16% 14%

67.6 53% 11%


414.34 23% 0%
290.13 28% 69%

2,650.56 2% 23%
265.7 -43% 33%
502.4 68% -10%
265.7 53% -85%
502.40 6% 715%
12,572.86 14% 17%
Profit and loss percentage change

Particulars 17-18 16-17 15-16

Income
Revenue from operations 32871.82 30871.59 30700.88
Other income 525.82 522.43 422.43
Total Income 33397.64 31394.02 31123.31
Expenses
Cost of raw material consumed 21857.79 18974.11 19321.72
Change in inventories of finished goods and work-in-progress -23.15 63.17 -11.88
Excise duty on sale of goods 641.33 2371.13 2258.18
Employee benefit expenses 1540.13 1396.01 1315.93
Finance costs 6.25 6.05 4.89
Depreciation and amortisation expenses 555.6 492.73 437.64
Other expenses 3575.53 3432.36 3361.96
Total expenses 28153.48 26735.56 26688.44
Profit before tax 5244.16 4658.46 4434.87
Tax expense
Current tax 1446.95 1082.08 960.88
Deferred tax 99.85 199.26 313.8
Total tax expense 1546.8 1281.34 1274.68
Profit for the year 3697.36 3377.12 3160.19
Ot her comprehensive income

Re-measurement losses on defined benefit plans


Income tax effect -7.24 -21.53 -3.63
Income tax effect 2.53 7.45 1.26
Net other comprehensive income not to be reclassified to profit or los -4.71 -14.08 -2.37
Total comprehensive income for the year, net of income tax 3692.65 3363.04 3157.82
Earnings per share (of ` 2 each) in `
(a) Basic 185.14 169.12 158.26
(b) Diluted 185.13 169.12 158.26
Percenatge Percentage
change 17-18 change 16-17

6% 1%
1% 24%
6% 1%

15% -2%
-137% -632%
-73% 5%
10% 6%
3% 24%
13% 13%
4% 2%
5% 0%
13% 5%

34% 13%
-50% -37%
21% 1%
9% 7%

-66% 493%
-66% 491%
-67% 494%
10% 6%

9% 7%
9% 7%