Hero MotoCorp (HEROMOTOCO) Q4 25/26 earnings summary

Executive summary

• Achieved record revenue and profit after tax for Q4 and FY 2026, marking 25 years of global two-wheeler leadership.

• Sold 64.69 lakh two-wheelers in FY26, up 10% year-over-year; Q4 volume grew 24% year-over-year to 17.14 lakh units.

• Significant market share gains in scooters, EVs, global business, and premium motorcycles, with retail sales outpacing dispatches.

• Nine impactful launches and multiple refreshes in ICE and EV portfolios, supported by high-impact marketing campaigns.

• Expanded global footprint to 52 countries and strengthened electric mobility business with VIDA and strategic investments.

Financial highlights

• FY 2026 standalone revenue at INR 46,830 crores (+15%), Q4 revenue at INR 12,797 crores (+29%); standalone PAT at INR 5,268 crores (+14%), Q4 PAT at INR 1,401 crores (+30%).

• Standalone EBITDA for FY26: INR 6,871 crores (+17%), Q4 EBITDA: INR 1,856 crores (+31%).

• Consolidated revenue for FY26: INR 47,411 crores (+16%); consolidated PAT: INR 5,776 crores (+32%).

• Final dividend of INR 75/share, total FY 2026 dividend at INR 185/share (9,250% payout), maintaining 70%+ payout.

• Cash flow from operations at INR 9,395 crores for FY 2026, up 80% year-over-year; standalone net cash from operations at INR 8,314.92 crores.

Outlook and guidance

• Industry expected to grow at high single digits in FY 2027, with scooters outpacing motorcycles.

• Company aims to outgrow industry in both motorcycles and scooters, with multiple new launches planned.

• Medium-term margin guidance maintained at 14%-16%, with short-term margin pressure from commodity costs.

• Management expects continued growth, supported by positive consumer sentiment, government policies, and momentum in premium and electric vehicle segments.

• First half of FY 2027 expected to see stronger growth due to base effect.