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Compare Force Motors with Hero Motocorp - Equitymaster

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FORCE MOTORS vs HERO MOTOCORP - Comparison Results

FORCE MOTORS    Change

Force Motors Ltd. (erstwhile Bajaj Tempo), promoted by the Firodia Group manufactures 3-wheelers (passenger and goods versions), Utlity Vehicles (UV), Light Commercial Vehicles (LCV) and Heavy Commercial Vehicles (HCV). The company is also engaged i... More

HERO MOTOCORP 
   Change

Hero Motocorp (HMC; erstwhile Hero Honda Motors) is the largest manufacturer of motorcycles in the world. The company was earlier a joint venture promoted by Hero Cycles (P) Limited and Honda Motor Company with each partner holding 26% stake. HMC is ... More

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Current Valuations

    FORCE MOTORS HERO MOTOCORP FORCE MOTORS/
HERO MOTOCORP
 
P/E (TTM) x 20.7 17.7 116.9% View Chart
P/BV x 2.2 5.5 40.4% View Chart
Dividend Yield % 0.4 2.9 13.9%  

Financials

 FORCE MOTORS   HERO MOTOCORP
EQUITY SHARE DATA
    FORCE MOTORS
Mar-16
HERO MOTOCORP
Mar-18
FORCE MOTORS/
HERO MOTOCORP
5-Yr Chart
Click to enlarge
High Rs3,7854,200 90.1%   
Low Rs1,3833,180 43.5%   
Sales per share (Unadj.) Rs2,321.81,625.4 142.8%  
Earnings per share (Unadj.) Rs136.2186.4 73.1%  
Cash flow per share (Unadj.) Rs206.0215.2 95.7%  
Dividends per share (Unadj.) Rs10.0095.00 10.5%  
Dividend yield (eoy) %0.42.6 15.0%  
Book value per share (Unadj.) Rs1,124.8599.5 187.6%  
Shares outstanding (eoy) m13.18199.69 6.6%   
Bonus/Rights/Conversions ---  
Price / Sales ratio x1.12.3 49.0%   
Avg P/E ratio x19.019.8 95.8%  
P/CF ratio (eoy) x12.517.1 73.2%  
Price / Book Value ratio x2.36.2 37.3%  
Dividend payout %7.351.0 14.4%   
Avg Mkt Cap Rs m34,057736,856 4.6%   
No. of employees `000NA8.1 0.0%   
Total wages/salary Rs m3,03715,837 19.2%   
Avg. sales/employee Rs ThNM40,241.0-  
Avg. wages/employee Rs ThNM1,963.4-  
Avg. net profit/employee Rs ThNM4,614.6-  
INCOME DATA
Net Sales Rs m30,601324,584 9.4%  
Other income Rs m7145,232 13.7%   
Total revenues Rs m31,316329,815 9.5%   
Gross profit Rs m2,74453,251 5.2%  
Depreciation Rs m9195,750 16.0%   
Interest Rs m43308 14.0%   
Profit before tax Rs m2,49652,424 4.8%   
Minority Interest Rs m-1497 -0.2%   
Prior Period Items Rs m00-   
Extraordinary Inc (Exp) Rs m00-   
Tax Rs m70015,699 4.5%   
Profit after tax Rs m1,79637,222 4.8%  
Gross profit margin %9.016.4 54.7%  
Effective tax rate %28.029.9 93.6%   
Net profit margin %5.911.5 51.2%  
BALANCE SHEET DATA
Current assets Rs m12,17890,022 13.5%   
Current liabilities Rs m7,16744,814 16.0%   
Net working cap to sales %16.413.9 117.6%  
Current ratio x1.72.0 84.6%  
Inventory Days Days6511 603.2%  
Debtors Days Days1816 111.8%  
Net fixed assets Rs m9,97953,164 18.8%   
Share capital Rs m132399 33.0%   
"Free" reserves Rs m14,690119,315 12.3%   
Net worth Rs m14,824119,715 12.4%   
Long term debt Rs m261,496 1.8%   
Total assets Rs m22,973173,967 13.2%  
Interest coverage x58.8171.2 34.3%   
Debt to equity ratio x00 14.2%  
Sales to assets ratio x1.31.9 71.4%   
Return on assets %8.021.6 37.1%  
Return on equity %12.131.1 39.0%  
Return on capital %17.143.9 38.9%  
Exports to sales %1.60-   
Imports to sales %32.70-   
Exports (fob) Rs m499NA-   
Imports (cif) Rs m10,014NA-   
Fx inflow Rs m4997,376 6.8%   
Fx outflow Rs m10,06912,633 79.7%   
Net fx Rs m-9,570-5,257 182.0%   
CASH FLOW
From Operations Rs m2,63540,172 6.6%  
From Investments Rs m-2,100-18,582 11.3%  
From Financial Activity Rs m-392-21,025 1.9%  
Net Cashflow Rs m143566 25.3%  

Share Holding

Indian Promoters % 59.4 52.2 113.8%  
Foreign collaborators % 0.0 0.0 -  
Indian inst/Mut Fund % 0.7 8.5 8.2%  
FIIs % 5.8 30.6 19.0%  
ADR/GDR % 0.0 0.0 -  
Free float % 34.1 8.8 387.5%  
Shareholders   18,200 75,661 24.1%  
Pledged promoter(s) holding % 0.0 0.0 -  
NM: Not Meaningful
Source: Company Annual Reports, Regulatory Filings, Equitymaster

Compare FORCE MOTORS With:   MARUTI SUZUKI  ATUL AUTO  SML ISUZU  ASHOK LEYLAND  TVS MOTORS  

Compare FORCE MOTORS With:   DONGFENG MOTOR (China)  HYUNDAI (S. Korea)  SAIC MOTOR (China)  FORD (US)  



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