Honda India Power Products Limited , a key player in the power products business, has released its financial results for the second quarter and first half of the fiscal year 2025-26, revealing a decline in both revenue and profitability.

Q2 FY26 Performance

The company reported a decrease in its financial metrics for the quarter ended September 30, 2025:

Honda India Power Products experienced a 10.7% year-over-year decline in revenue from operations, dropping from ₹84.70 crore in Q2 FY25 to ₹75.65 crore in Q2 FY26. Profit after tax saw a more significant decrease of 24.5%, falling from ₹14.80 crore to ₹11.17 crore.

H1 FY26 Results

For the first half of FY26, the company reported:

The company's performance over the six-month period showed a 16.5% decline in both revenue and profit after tax compared to the same period in the previous fiscal year.

Corporate Governance

The Board of Directors of Honda India Power Products Limited approved these unaudited financial results in their meeting held on November 13, 2025.

Business Segment

Honda India Power Products Limited continues to operate in the power products business as a single segment.

The financial results indicate challenges in the operating environment. Investors and stakeholders may want to monitor the company's future performance and any strategic initiatives it may undertake to address the decline in revenue and profitability.

Honda India Power Products Limited (HIPL) has announced significant strategic moves aimed at expanding its business operations and enhancing corporate governance. The company received shareholder approval for key initiatives during its 40th Annual General Meeting (AGM) held on September 25, 2025.

Business Expansion into Electric Motors

HIPL has secured member approval to alter its Memorandum of Association (MOA), subject to the Registrar of Companies' approval. This amendment paves the way for the company to venture into the design, development, and manufacturing of electric motor units, branded as 'eGX'.

The rationale behind this expansion is rooted in evolving industry trends and a growing emphasis on sustainability. HIPL aims to cater to applications where conventional engine-powered machinery faces challenges, particularly in noise and emission-sensitive environments such as educational institutions, hospitals, indoor facilities, and residential construction zones.

New Product Line: eGX Electric Motors

The introduction of the 'eGX' line of electric motors represents a strategic pivot for HIPL, aligning with the global shift towards cleaner and quieter power solutions. This move is expected to position the company competitively in the market for environmentally friendly power products.

Appointment of New Secretarial Auditor

In addition to its business expansion plans, HIPL has taken steps to strengthen its corporate governance framework. Shareholders approved the appointment of M/s TVA & Co. LLP as the company's Secretarial Auditor for a term of five consecutive financial years, from FY 2025-26 to FY 2029-30.

TVA & Co. LLP is described as a firm of Company Secretaries providing legal and secretarial services. The firm is peer-reviewed (Peer Review No.: 6544/2025) and is eligible for appointment as per SEBI Listing Regulations.

Other Key Decisions

The AGM also saw the approval of several other important matters:

1. Adoption of audited financial statements for the year ended March 31, 2025
2. Declaration of final dividend on equity shares for FY 2024-25
3. Re-appointment of Mr. Shigeki Iwama as a director
4. Ratification of remuneration for Cost Auditors
5. Approval for payment of royalty to Honda Motor Co. Ltd., Japan for FY 2026-27
6. Approval of related party transactions with Honda Motor Co. Ltd., Japan for FY 2026-27

Looking Ahead

These developments signal HIPL's intent to diversify its product portfolio and adapt to changing market demands while maintaining strong corporate governance practices. The expansion into electric motors, in particular, could open up new growth avenues for the company in the evolving power products landscape.