Honda India Power Products Announces Q3FY26 Results with 32% Revenue Growth
Honda India Power Products Limited delivered strong Q3FY26 performance with revenue growing 32.43% to Rs. 27,040 lakhs despite exceptional items of Rs. 1,184 lakhs related to new Labour Codes. The company showed exceptional international growth of 160.81% and maintained steady domestic performance, while the Board approved interim dividend and key leadership decisions.

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Honda India Power Products Limited has delivered a strong financial performance in Q3FY26, demonstrating significant growth across key revenue metrics while navigating regulatory changes in the labour landscape. The company announced its quarterly results for the quarter ended December 31, 2025 under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Financial Performance Overview
The company's financial results for Q3FY26 showcase robust operational performance with notable improvements in revenue generation:
| Metric: | Q3FY26 | Q3FY25 | Growth (%) |
|---|---|---|---|
| Revenue from Operations: | Rs. 27,040 lakhs | Rs. 20,418 lakhs | +32.43% |
| Total Income: | Rs. 27,878 lakhs | Rs. 21,458 lakhs | +29.91% |
| Profit Before Tax: | Rs. 3,457 lakhs | Rs. 2,574 lakhs | +34.31% |
| Net Profit: | Rs. 1,667 lakhs | Rs. 1,909 lakhs | -12.68% |
| Basic EPS: | Rs. 16.43 | Rs. 18.82 | -12.70% |
For the nine-month period ended December 31, 2025, the company maintained steady growth momentum:
| Parameter: | 9M FY26 | 9M FY25 | Change (%) |
|---|---|---|---|
| Revenue from Operations: | Rs. 60,092 lakhs | Rs. 52,555 lakhs | +14.34% |
| Total Income: | Rs. 62,870 lakhs | Rs. 55,657 lakhs | +12.96% |
| Net Profit: | Rs. 3,732 lakhs | Rs. 4,378 lakhs | -14.75% |
| Basic EPS: | Rs. 36.79 | Rs. 43.16 | -14.76% |
Exceptional Items Impact
The company recorded exceptional items of Rs. 1,184 lakhs during Q3FY26, primarily attributed to the implementation of new Labour Codes notified by the Government of India on November 21, 2025. This one-time impact includes:
| Component: | Amount (Rs. lakhs) |
|---|---|
| Gratuity provisions: | 807 |
| Long-term compensated absences: | 377 |
| Total Exceptional Items: | 1,184 |
The company has classified this as a regulatory-driven, non-recurring impact under exceptional items, reflecting the consolidation of 29 existing labour laws into four new Labour Codes.
Board Decisions and Corporate Actions
The Board of Directors approved several key corporate decisions during their meeting held on February 13, 2026:
| Decision: | Details |
|---|---|
| Interim Dividend: | Rs. 3.50 per equity share (35% of face value) |
| Record Date: | February 19, 2026 |
| Payment Date: | March 12, 2026 |
| CMD Reappointment: | Mr. Shigeki Iwama for one year from April 1, 2026 |
| Postal Ballot: | Notice approved for corporate governance matters |
| Scrutinizer Appointment: | Ms. Saryu Munjal for postal ballot process |
Segment Performance and Geographic Distribution
The company operates in the power products segment and demonstrated strong performance across both domestic and international markets during Q3FY26:
| Market: | Q3FY26 Revenue | Q3FY25 Revenue | Growth |
|---|---|---|---|
| India: | Rs. 18,169 lakhs | Rs. 16,927 lakhs | +7.34% |
| Outside India: | Rs. 8,539 lakhs | Rs. 3,274 lakhs | +160.81% |
The international business showed exceptional growth, contributing significantly to the overall revenue increase. For the nine-month period, international revenue reached Rs. 11,941 lakhs compared to Rs. 6,244 lakhs in the previous year, representing a growth of 91.24%.
Leadership and Governance
Mr. Shigeki Iwama's reappointment as CMD, President and CEO reflects the board's confidence in his leadership. His expertise spans sales and marketing, export business, business planning, and product planning across power products, automobile, and motorcycle operations. The company confirmed that he is not debarred from holding directorial positions by any regulatory authority.
The financial results received an unmodified review report from statutory auditors B S R & Co. LLP, confirming compliance with Indian Accounting Standards and regulatory requirements. The Board meeting commenced at 10:30 A.M. and concluded at 11:19 A.M., with all decisions taken pursuant to applicable provisions of SEBI (LODR) Regulations, 2015.
Historical Stock Returns for Honda India Power Products
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.54% | -1.81% | -6.80% | -27.70% | -1.66% | +102.03% |


































