Hero MotoCorp Ltd — Q1FY27 earnings call summary

Filed 11 August 2026 · Official transcript

EV capacity tripled to 30,000 units/month; target 45,000 by FY end
Q1 FY27 revenue 129.99bn INR (+36% y-y), EBITDA 17.27bn INR, PAT 14.54bn INR
Multiple analyst queries on EV profitability and capacity ramp-up; management expects EBITDA loss per EV unit to improve from 50k to 40k INR this quarter
EBITDA margin contracted 120 bps q-q to 13.3% due to 4.5% commodity inflation impact
Volume grew 23% y-y; ICE volumes +21%, EV volumes +151%
Premium motorcycle launches planned starting this festive season; new CTO and CBO appointed
Mix shift to premium, EV, scooters, global business contributed 8% mix benefit
VIDA EV volumes reached 57,000 units in Q1; PLI benefits to reach 100% by Dec 2026