Hero MotoCorp cash flow

Latest FY26

Cash from operations: ₹8,315cr+93.5% on FY25
Capital spending: ₹1,100cr+28.4% on FY25
Free cash flow: ₹7,215cr+109.7% on FY25
Cash from financing: −₹3,534cr−₹2,815 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	855	825	757	697
	—	78.3	70.7	76.4	105
	—	−293	−446	−301	−261
	—	−23.2	−22.9	−18.6	−2.3
	—	−533	−415	−403	−189
	—	17.6	15.7	23.7	16.0
	—	55.0	−18.8	1.9	−34.4
	—	0.0	161	120	−3.1
	—	−105	157	16.3	−109
	—	−637	−257	0.5	−284
	—	1,027	−759	69.6	−571
	—	19.2	274	165	−277
	—	−337	17.3	−210	4.0
	—	−0.0	6.0	7.1	3.0
	—	1,977	76.8	863	417
	—	21.6	19.0	8.4	4.2
	—	46.2	164	41.8	65.8
	—	81.6	62.1	−33.2	0.9
	—	181	161	98.0	20.8
Cash from operating activities
	7,588	7,051	6,095	5,210	3,861
	—	2,430	−232	1,042	−390
	—	9,481	5,863	6,252	3,470
	—	1,167	1,565	1,329	857
	—	8,315	4,297	4,923	2,614
Cash from investing activities
	—	1,100	857	788	604
	—	12.1	22.4	10.7	42.9
	—	52,584	50,498	46,178	44,433
	—	49,474	49,336	45,307	45,336
	—	720	124	639	963
	—	29.0	75.3	61.1	2.3
	—	293	446	301	277
	—	119	−104	98.0	−79.9
	—	−4,478	−1,703	−1,828	−421
Cash from financing activities
	—	2.5	6.9	10.4	3.2
	—	41.8	93.3	70.3	−24.2
	—	0.0	0.0	20.1	16.1
	—	54.2	55.2	11.3	7.0
	—	78.3	70.7	76.4	105
	—	3,507	2,800	2,702	1,998
	—	61.8	10.0	12.6	0.0
	—	−3,534	−2,815	−2,717	−2,147
	—	303	−221	379	45.3
	—	303	−221	379	45.3
	—	687	384	605	226
Reference items
	7,511	7,045	5,946	5,350	4,094
	14.0%	14.9%	14.5%	14.2%	12.0%
	7,215	7,215	3,441	4,135	2,010
	—	7,178	3,463	4,109	—
	₹360.55	₹360.55	₹171.95	₹206.66	₹100.43
	14.16×	—	—	—	—
	—	1.44×	0.98×	1.32×	0.93×
	—	1,167	1,565	1,329	857
	—	78.3	70.7	76.4	105

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

HEROMOTOCO₹5,105.00

Hero MotoCorp Ltd.

· Auto & Mobility

₹ CrorePeersBAJAJ-AUTO TVSMOTOR EICHERMOT BHARATFORG TIINDIA EXIDEIND HYUNDAI MRFMcap ₹1.02L Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	697.4	757.4	824.6	855.0	—
+ Finance Costs	104.9	76.4	70.7	78.3	—
+ Interest Income	-260.8	-301.3	-445.7	-293.4	—
+ Dividend Income	-2.3	-18.6	-22.9	-23.2	—
+ Fair Value (Gains) / Losses	-188.5	-403.0	-414.6	-533.0	—
+ Share-based Payments	16.0	23.7	15.7	17.6	—
+ Unrealised FX (Gain) / Loss	-34.4	1.9	-18.8	55.0	—
+ Undistributed Profits of Associates	-3.1	120.3	161.1	0.0	—
+ Other Reconciling Items	-108.7	16.3	156.6	-105.2	—
Changes in Working Capital
+ Inventories	-284.0	0.5	-257.4	-636.8	—
+ Trade Receivables — Current	-571.3	69.6	-759.5	1,026.8	—
+ Other Financial Assets — Current	-277.2	164.8	274.3	19.2	—
+ Other Current Assets	4.0	-210.2	17.3	-337.3	—
+ Other Non-current Assets	3.0	7.1	6.0	-0.0	—
+ Trade Payables — Current	417.1	862.7	76.8	1,976.6	—
+ Other Financial Liabilities — Current	4.2	8.4	19.0	21.6	—
+ Other Current Liabilities	65.8	41.8	164.3	46.2	—
+ Provisions — Current	0.9	-33.2	62.1	81.6	—
+ Provisions — Non-current	20.8	98.0	160.8	181.3	—
Cash from Operating Activities
Profit Before Tax (per I/S)	3,860.5	5,210.5	6,094.7	7,051.0	7,588.1
+ Total Adjustments (incl. Working Capital)	-390.1	1,041.8	-232.1	2,430.4	—
Cash from Operations (pre-tax)	3,470.4	6,252.2	5,862.5	9,481.4	—
+ Income Taxes Paid	856.6	1,329.2	1,565.2	1,166.8	—
Cash from Operating Activities	2,613.8	4,923.1	4,297.4	8,314.6	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	604.3	787.9	856.6	1,100.1	—
+ Disp of Fixed Assets	42.9	10.7	22.4	12.1	—
+ Acq of Investment Property	44,433.2	46,178.3	50,498.2	52,584.4	—
+ Disp of Investment Property	45,336.0	45,306.7	49,335.8	49,473.8	—
+ Acq of Subsidiaries / Businesses (net)	962.5	639.4	123.8	720.0	—
+ Dividends Received — Investing	2.3	61.1	75.3	29.0	—
+ Interest Received — Investing	277.3	301.3	445.7	293.4	—
+ Other Inflows / (Outflows) — Investing	-79.9	98.0	-103.9	118.5	—
Cash from Investing Activities	-421.3	-1,827.9	-1,703.4	-4,477.8	—
Cash from Financing Activities
+ Proceeds from Issue of Shares	3.2	10.4	6.9	2.5	—
+ Proceeds from Borrowings	-24.2	70.3	93.3	41.8	—
+ Repayment of Borrowings	16.1	20.1	0.0	0.0	—
+ Payment of Lease Liabilities	7.0	11.3	55.2	54.2	—
+ Interest Paid	104.9	76.4	70.7	78.3	—
+ Dividends Paid	1,998.3	2,702.1	2,799.8	3,507.3	—
+ Other Inflows / (Outflows) — Financing	0.0	12.6	10.0	61.8	—
Cash from Financing Activities	-2,147.2	-2,716.6	-2,815.4	-3,533.7	—
Net Changes in Cash (pre-FX)	45.3	378.6	-221.4	303.2	—
Net Changes in Cash	45.3	378.6	-221.4	303.2	—
Closing Cash	226.3	604.9	383.6	686.7	—
Reference Items
EBITDA	4,093.8	5,349.6	5,945.8	7,045.1	7,511.3
EBITDA Margin %	11.98	14.16	14.53	14.86	14.02
Free Cash Flow (CFO − Capex)	2,009.6	4,135.2	3,440.8	7,214.5	7,214.5
Free Cash Flow to Equity	—	4,109.0	3,463.4	7,178.0	—
Free Cash Flow per Basic Share	100.43	206.66	171.95	360.55	360.55
Price to Free Cash Flow	—	—	—	—	14.16
Cash Flow to Net Income	0.93	1.32	0.98	1.44	—
Cash Paid for Taxes	856.6	1,329.2	1,565.2	1,166.8	—
Cash Paid for Interest	104.9	76.4	70.7	78.3	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.