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Hero MotoCorp (HEROMOTOCO) investor relations material
Hero MotoCorp Q1 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved a sequential increase in Vahan market share to 30.9% in Q1 FY26, with strong performance in entry-level, scooters, and EV segments.
Standalone Q1 FY26 revenue at Rs. 9,579 crore, PAT at Rs. 1,126 crore, with 13.67 lakh units sold; consolidated PAT at Rs. 1,706 crore, including a one-time gain of Rs. 722 crore from associate dilution.
EBITDA margin for standalone at 14.4% and consolidated at 14.5%, both stable year-over-year.
EV business reached a record 7% quarterly market share, rising to over 10% in July, driven by VIDA VX2 and Battery as a Service model.
Global business dispatches grew 27% year-over-year, outperforming industry trends in key international markets.
Financial highlights
Quarterly revenue stood at Rs. 9,579 crores; EBITDA at Rs. 1,382 crores; PAT at Rs. 1,126 crores.
Consolidated PAT for the quarter was Rs. 1,706 crores, including a one-time gain of Rs. 722 crores from dilution in associate investments.
Standalone EBITDA at Rs. 1,382 crore (14.4% margin); consolidated EBITDA at Rs. 1,413 crore (14.5% margin).
Average selling price increased 6% year-over-year due to mix and price, but declined sequentially due to seasonality.
Earnings per share (EPS) for the quarter: standalone Rs. 56.28, consolidated Rs. 85.26.
Outlook and guidance
Industry growth forecast for FY26 remains at 6–7%, with Q1 retail industry growth at 3–3.5%; festive season and new launches expected to restore momentum.
EBITDA margin guidance maintained at 14–16%, expected to operate at the lower end in the short term.
Ongoing product launches in 125cc, premium, and EV segments to drive future growth.
Management confident of sustaining and driving growth, supported by strong product pipeline and favorable customer sentiment.
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