Hero MotoCorp Limited (NSE:HEROMOTOCO)

Hero MotoCorp Cash Flow Statement

Financials in millions INR. Fiscal year is April - March.

Operating Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Net Income	60,012	57,417	43,785	37,448	28,100	23,169
Depreciation & Amortization	7,043	6,686	6,577	6,277	6,301	6,398
Other Amortization	1,864	1,864	1,669	1,297	672.8	497.5
Loss (Gain) From Sale of Assets	77.6	128.1	19	-7	-7.3	96.1
Loss (Gain) From Sale of Investments	-7,583	-6,465	-4,148	-5,042	-3,003	-3,329
Loss (Gain) on Equity Investments	-2,267	-3,846	1,611	1,203	-31.1	1,991
Stock-Based Compensation	172.4	176.4	156.6	237.4	160.4	100
Provision & Write-off of Bad Debts	-	-	-	-	103.3	7.4
Other Operating Activities	-2,009	3,438	-4,269	-2,254	44.6	-1,207
Change in Accounts Receivable	9,836	10,268	-7,595	695.9	-5,713	1,155
Change in Inventory	-4,467	-6,368	-2,574	4.9	-2,840	3,169
Change in Accounts Payable	19,331	19,766	767.5	8,627	4,171	-9,211
Change in Other Net Operating Assets	-2,403	80.9	6,975	743.7	-1,820	-1,797
Operating Cash Flow	79,607	83,146	42,974	49,231	26,138	21,037
Operating Cash Flow Growth	57.26%	93.48%	-12.71%	88.35%	24.25%	-48.82%

Investing Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Capital Expenditures	-13,263	-11,001	-8,566	-7,879	-6,043	-5,697
Sale of Property, Plant & Equipment	48	120.8	224.4	107	428.8	108.2
Investment in Securities	-26,090	-38,306	-12,863	-15,110	-596.4	1,824
Other Investing Activities	3,274	4,409	4,171	4,603	1,997	1,545
Investing Cash Flow	-36,031	-44,778	-17,034	-18,279	-4,213	-2,220

Financing Activities

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Short-Term Debt Issued	-	417.9	933.3	702.9	-	204.6
Total Debt Issued	1,323	417.9	933.3	702.9	-	204.6
Short-Term Debt Repaid	-	-	-	-	-241.6	-
Long-Term Debt Repaid	-	-541.9	-551.6	-314.1	-231	-395.9
Lease Payments	-502.7	-541.9	-551.6	-113.2	-70.2	-305.8
Total Debt Repaid	-420.2	-541.9	-551.6	-314.1	-472.6	-395.9
Net Debt Issued (Repaid)	902.6	-124	381.7	388.8	-472.6	-191.3
Issuance of Common Stock	13.9	24.6	69.2	104.1	32.4	50.4
Common Dividends Paid	-36,986	-35,011	-27,998	-26,987	-19,983	-18,981
Other Financing Activities	-268.9	-226.6	-606.5	-672.1	-1,049	-631.2
Financing Cash Flow	-36,338	-35,337	-28,154	-27,166	-21,472	-19,753

Net Cash Flow

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Net Cash Flow	7,238	3,032	-2,214	3,786	452.8	-936

Free Cash Flow

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Free Cash Flow	66,344	72,145	34,408	41,352	20,096	15,340
Free Cash Flow Growth	59.27%	109.68%	-16.79%	105.77%	31.00%	-56.54%
Free Cash Flow Margin	12.39%	15.22%	8.41%	10.94%	5.88%	5.19%
Free Cash Flow Per Share	331.27	360.27	171.85	206.53	100.47	76.76
Levered Free Cash Flow	59,844	62,689	26,037	38,367	18,519	11,834
Unlevered Free Cash Flow	60,234	63,053	26,368	38,742	19,062	12,018
Free Cash Flow After Leases	65,841	71,603	33,856	41,239	20,026	15,035

Additional Metrics

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Cash Interest Paid	825	782.7	706.5	763.7	1,049	528.5
Cash Income Tax Paid	18,288	11,668	15,652	13,292	8,566	7,852
Change in Working Capital	22,296	23,747	-2,427	10,072	-6,202	-6,685

Data Source: S&P Global Market Intelligence Last updated: Oct 28, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Oct 29, 2026

Data Sources Report a data error