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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.
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Q1 25/26 earnings summary7 Aug, 2025

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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Frequently asked questions

Hero MotoCorp Limited is an India-based manufacturer of motorcycles and scooters. The company produces a wide range of two-wheelers for domestic and international markets and operates manufacturing facilities and a vast dealer network. Hero MotoCorp Limited is headquartered in New Delhi, India, and its shares are listed on the NSE.

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