This small-cap stock manufactures grass cutting machine!

For the latest September quarter, the company’s net profit jumped YoY by 262 per cent.

On November 18, the shares of Honda India Power Products Ltd hit a new 52-week high. The stock surged 11 per cent and closed at Rs 2393.

On November 8, the company announced its September Quarterly Results. For Q2FY23, on a YoY basis, its revenue grew by 70 per cent and came in at Rs 394 crore. While, for the same quarter, its net profit jumped by 262 per cent YoY and stood at Rs 42 crore. 

Honda India Power Products Ltd is involved in the business of manufacturing and marketing portable generators, water pumps, tillers, and general-purpose engines. The company is a subsidiary of Honda Motor Co, Japan and was incorporated on 19th September 1985. 

They have over 30 years of experience and are the market leaders in the power product industry in the Indian domestic market. The company is also engaged in the marketing of lawnmowers, brush cutters, and long-tailed boat engines. 

“HONDA” is the brand name under which the company sells all its products. The company exports its products to 35 countries and has a network of 600 dealers. 

About the shareholding pattern, 66.67 per cent of the company’s stake is owned by the promoters, 0.59 per cent by FIIs, 13.43 per cent by DIIs, and the rest 19.32 per cent by non-institutional investors. 

The company has a market capitalisation of Rs 2467 crore and is currently trading at a PE multiple of 28.6x. The stock has a 52-week high and low of Rs 2454.95 and Rs 1116, respectively.