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Honda India Power Products Limited (HONDAPOWER) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of Honda India Power Products Limited ₹1,077, price ₹1,875, upside -42.6%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Industrials · IN · ISIN INE634A01018

HI Broad data Sep 27, 2026

Honda India Power Products Limited

HONDAPOWER · NSE

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value ₹1,077 · Strongly overvalued (−42.6%)
!Quality 54/100
!Weak Growth (revenue 5y −1.3 %/yr)
!Thin margins · 7.4% net margin (TTM)
!negative free cash flow
!6.7% dividend yield · Pays more than it earns
!Mixed vs. peers (6/12)
!Narrow moat 37/100
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Price vs Fair Value

₹4,154 ₹980.98 Fair Value ₹1,077 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range ₹980.98 – ₹4,154 · fair‑value band ₹769.80 – ₹1,346 · the ₹1,875 price screens above the ₹1,077 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Honda India Power Products Limited engages in the manufacture, marketing, and sale of portable generators, water pumps, general purpose engines, lawn mowers, brush cutters, hand tools, portable gensets, tillers, and marine engines in India and internationally. It also markets fishery products comprising long tail outboard motors.

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Honda India Power Products Limited engages in the manufacture, marketing, and sale of portable generators, water pumps, general purpose engines, lawn mowers, brush cutters, hand tools, portable gensets, tillers, and marine engines in India and internationally. It also markets fishery products comprising long tail outboard motors. In addition, it provides agriculture products, including reapers, HTP sprayers, and power weeder; and ploughs, manure spreaders, seeders, and harrows, as well as other machineries for soil preparation, planting, and fertilizing, harvesting, and threshing; and power weeder. In addition, the company offers light construction products, such as concrete cutter and vibrator, plate and reversible plate compactor, power trowel, and welder. Further, it provides generator synchronization and AMF panel, power generators, motor generator sets, engines, turbines, pumps, compressors, taps, valves, and chargeover and remote switches. The company was formerly known as Honda Siel Power Products Limited and changed its name to Honda India Power Products Limited in July 2020. Honda India Power Products Limited was incorporated in 1985 and is headquartered in Gautam Buddha Nagar, India. Honda India Power Products Limited is a subsidiary of Honda Motor Co., Ltd.

Stock analysis

Honda India Power Products Limited (HONDAPOWER) currently trades at ₹1,875, while our model-based Fair Value estimate is ₹1,077, 42.6% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Dividend Discount group reads highest at a median of ₹1,274 per share, and 0 of the 17 models we run sit above the ₹1,875 price.

Bear case: the Economic Profit group reads lowest at ₹370.37, and 17 of the 17 models stay below the price. Evidence for this calculation is high.

Scenario range: ₹769.80 (bear) to ₹1,346 (bull), the price of ₹1,875 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 54/100 (solid quality), in the Industrials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Honda India Power Products Limited reported revenue of ₹8.7B in FY2026 versus ₹11.4B in FY2022, a compound −6.6%/yr. Reported net income was ₹642M in FY2026, compounding −3.6%/yr from FY2022.

Key figures

Market cap ₹22.3B (≈ $233M) · P/E ratio 29.6 · P/S ratio 2.20 · EPS (TTM) ₹63.26 · Dividend yield 6.7% · Net margin 7.4% · Return on equity 7.7% · Return on assets (EBIT) 11.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 32% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at −43%, HONDAPOWER screens cheaper than that median.

Fair Value models

Bear ₹769.80 Fair Value ₹1,077 Bull ₹1,346
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income ₹602.72 ₹629.60 ₹680.64 76
Owner Earnings ₹375.71 ₹485.94 ₹621.44 75
EPV ₹339.08 ₹370.37 ₹395.77 70
All 17 models by family
DCF Models
Owner Earnings ₹375.71 ₹485.94 ₹621.44 75
Earnings-Based
Graham-Dodd ₹430.67 ₹1,273 ₹1,684 65
Lynch FV ₹267.33 ₹381.90 ₹496.47 61
PEG = 1.0 ₹267.33 ₹381.90 ₹496.47 57
EPV ₹339.08 ₹370.37 ₹395.77 70
Dividend Discount
Gordon GGM ₹866.10 ₹1,451 ₹1,883 68
DDM Multi-Stage ₹866.10 ₹1,274 ₹1,561 67
Multiples
P/E Multiple ₹997.51 ₹1,330 ₹1,663 63
P/S Multiple ₹807.51 ₹1,077 ₹1,346 58
P/B Multiple ₹807.51 ₹1,077 ₹1,346 55
EV/EBIT ₹813.41 ₹1,058 ₹1,303 63
EV/EBITDA ₹863.84 ₹1,126 ₹1,388 64
EV/Revenue ₹602.97 ₹827.83 ₹1,053 51
Asset-Based
NCAV (Graham) ₹396.02 ₹530.67 ₹792.04 51
Economic Profit
Residual Income ₹602.72 ₹629.60 ₹680.64 76
ROIC Compounder ₹339.08 ₹370.37 ₹395.77 70
Growth Earnings
Growth-Adj P/E ₹810.50 ₹1,158 ₹1,505 67

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Quality Score breakdown

Overall quality 54/100

Of which business quality 53 · Market factors (momentum, volatility) 34

Profitability 44
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 22/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+9.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.3%
Start year 2021 (pandemic). Over 10 years: +2.5% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.5%
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+6.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.7%
Dividend (yield on the price)6.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−0.7% vs 2.8%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.6% → 7%
Start year 2021 (pandemic)

HONDAPOWER screens overvalued: fair value 43% below the price. Compare with GE Vernova Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Industrial Machinery · 810 stocks

Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 54 · Above median
Fair Value upside −42.6% · Below median
Profitability
Return on equity (TTM) 7.7% · Above median
Return on assets 3.5% · Above median
Net margin (TTM) 7.4% · Above median
Operating margin (TTM) 9.0% · Above median
Growth and dividend
Revenue growth −1.5% · Below median
Dividend yield (TTM) 6.7% · Top 25%

Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 29.6× · Pricier than median
P/B 2.77× · Pricier than median
P/S (TTM) 2.58× · Pricier than median
EV/EBITDA 26.3× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 25
PAST (return on equity)31 · sector 28
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)100 · sector 25

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.

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Parker-Hannifin Corporation PH $970.37 $494.81 −49%
Emerson Electric Co EMR $158.23 $62.54 −60%
Illinois Tool Works Inc ITW $274.32 $153.33 −44%
Cummins Inc CMI $525.06 $359.11 −32%
AMETEK, Inc AME $250.74 $125.77 −50%
Rockwell Automation, Inc ROK $434.15 $139.31 −68%
Sandvik AB SAND kr 378.00 kr 193.59 −49%

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Cite: Fair Value Calculator (2026). "Honda India Power Products Limited Fair Value". https://www.fairvalue-calculator.com/stock/HONDAPOWER

Frequently asked questions

Is Honda India Power Products Limited (HONDAPOWER) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹1,077 versus a price of ₹1,875, about −43% upside (overvalued).
What is the fair value of HONDAPOWER?
Our model-based fair value for Honda India Power Products Limited is ₹1,077 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹1,875.
What is the quality score of HONDAPOWER?
Honda India Power Products Limited has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Honda India Power Products Limited (HONDAPOWER)?
Our model-based price target is the fair value of ₹1,077 (as of Sep 27, 2026) from 17 valuation models. Cautious scenario ₹769.80, optimistic scenario ₹1,346. It is a calculation from audited fundamentals, not an analyst target.
What is the Honda India Power Products Limited stock forecast for 2026?
Our models put fair value at ₹1,077, about −43% upside versus a price of ₹1,875 (overvalued). Cautious scenario ₹769.80, optimistic scenario ₹1,346. The calculation is refreshed regularly with new filings.
What is the revenue of Honda India Power Products Limited (HONDAPOWER)?
Honda India Power Products Limited reported trailing-twelve-month revenue of about ₹8.7B (latest available figure, as of Sep 27, 2026).
Does Honda India Power Products Limited pay a dividend?
Honda India Power Products Limited currently shows a dividend yield of about 6.67% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of Honda India Power Products Limited (HONDAPOWER)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Honda India Power Products Limited it is ₹1,077 per share (as of Sep 27, 2026), against a price of ₹1,875. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Honda India Power Products Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, HONDAPOWER trades above its calculated fair value: price ₹1,875, fair value ₹1,077, a gap of about −43% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of HONDAPOWER?
No. The price is what the market pays today (₹1,875); the fair value is what the company's own numbers justify (₹1,077). For Honda India Power Products Limited the two are ₹797.82 per share apart. That gap is exactly why we show both numbers side by side.
How much is Honda India Power Products Limited worth?
The market values Honda India Power Products Limited at about ₹22.3B (market capitalisation, as of Sep 27, 2026). Per share that is ₹1,875; our models calculate a fair value of ₹1,077 per share.
What do the bullish and bearish scenarios say about HONDAPOWER?
Our models span a range for Honda India Power Products Limited: cautious scenario ₹769.80, base ₹1,077, optimistic ₹1,346 per share (as of Sep 27, 2026, price ₹1,875). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HONDAPOWER?
Honda India Power Products Limited trades at a price-to-earnings ratio of 29.6 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,077 is built from several models across several years. Other multiples: P/B 2.8, P/S 2.6, EV/EBITDA 26.3.
How solid is the balance sheet of Honda India Power Products Limited (HONDAPOWER)?
Balance-sheet figures for Honda India Power Products Limited (as of Sep 27, 2026): return on equity 7.7%. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is HONDAPOWER from its 52-week high?
Honda India Power Products Limited trades at ₹1,875, about 32% below its 52-week high of ₹2,751 and 1% above the low of ₹1,847 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,077 is for.
Which stocks are comparable to Honda India Power Products Limited?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Honda India Power Products Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹1,875, calculated fair value ₹1,077 (−43%), Quality Score 54/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of HONDAPOWER calculated?
We run Honda India Power Products Limited through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹1,077, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. Honda India Power Products Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Honda India Power Products Limited (HONDAPOWER)?
The closing price on Sep 30, 2026 was ₹1,875. Our model-based fair value is ₹1,077, about −43% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Honda India Power Products Limited right now?
The price sits above even our optimistic bull case (₹1,346). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Honda India Power Products Limited (HONDAPOWER) come from?
Earnings per share at Honda India Power Products Limited grew +5.6 % a year from 2015 to 2026. Broken into its drivers: revenue per share +3.1 %, EBIT margin +4.1 %, tax rate +1.5 %, residual (interest, one-offs) −3.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Honda India Power Products Limited

How large is the market capitalisation of Honda India Power Products Limited (HONDAPOWER)?
The market capitalisation of Honda India Power Products Limited is ₹22.3B (≈ $233M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Honda India Power Products Limited (HONDAPOWER)?
The price-to-sales ratio of Honda India Power Products Limited is 2.20 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Honda India Power Products Limited (HONDAPOWER)?
Earnings per share at Honda India Power Products Limited are ₹63.26 (price ÷ EPS = P/E 29.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Honda India Power Products Limited (HONDAPOWER)?
The dividend yield of Honda India Power Products Limited is 6.7% (payout 198%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Honda India Power Products Limited (HONDAPOWER)?
The net margin of Honda India Power Products Limited is 7.4% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Honda India Power Products Limited (HONDAPOWER)?
The return on equity (ROE) of Honda India Power Products Limited is 7.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Honda India Power Products Limited (HONDAPOWER)?
On an EBIT basis the return on assets of Honda India Power Products Limited is 11.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Honda India Power Products Limited (HONDAPOWER)?
The operating margin of Honda India Power Products Limited is 9.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Honda India Power Products Limited (HONDAPOWER)?
Revenue at Honda India Power Products Limited is growing −1.5% versus a year earlier (3y avg −11.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Honda India Power Products Limited (HONDAPOWER)?
Earnings per share at Honda India Power Products Limited are growing −25.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Honda India Power Products Limited (HONDAPOWER) generate?
The free cash flow of Honda India Power Products Limited is −₹221M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Honda India Power Products Limited (HONDAPOWER) hold?
Honda India Power Products Limited holds more cash than debt, ₹784M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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