Hero MotoCorp Ltd — earnings calls

Hero MotoCorp reported Q1 FY27 revenue from operations of Rs 12,999 crore, EBITDA of Rs 1,727 crore and PAT of Rs 1,454 crore, with total volume growth of 23% year-on-year driven by 21% growth in ICE and 151% growth in EV. Management attributed gross margin contraction of 300 basis points quarter-on-quarter to commodity cost inflation linked to the West Asia conflict, while EBITDA margin declined by a smaller 120 basis points sequentially to 13.3% due to cost mitigation actions. The company also detailed capacity expansions in EV, Splendor, Destini and Xoom, new product launches including VIDA VX2 variants and flex-fuel motorcycles, and leadership changes including a new Chief Business Officer for the Premium segment.

Hero MotoCorp reported record Q4 and full-year FY26 revenue, EBITDA and PAT, with quarterly revenue up 29% year-on-year to Rs 12,797 crores and EBITDA up 31% to Rs 1,856 crores. Management highlighted growth in scooters, EVs, global business and the Harley-Davidson range, alongside a reduction in channel inventory. The company also flagged commodity cost inflation starting in March that it expects to partially offset through price increases and cost savings.