Hero MotoCorp Ltd — Q2FY27 earnings call summary

Filed 03 November 2026 · Official transcript

Mid to high single-digit industry growth expected in H2 FY27; margin guidance stable
VIDA EV capacity doubled to 30,000 units/month, targeting 45,000 by Q4 FY27
Capex on track at INR1,500 Cr for FY27; parts business growing 27% y-y
Q2 FY27 revenue grew 21% y-y to INR14,687 Cr; consolidated revenue up 23% y-y to INR14,971 Cr
Global business faced logistic challenges but retail grew 19%; recovery expected in Q3
Wholesale volume up 10.5% y-y; EV volume surged 98%, ICE grew 8.4%
Scooter portfolio grew 34% q-o-q; ICE scooter capacity doubled to 80,000 units/month
Multiple analyst queries on exports, EV capacity, and premium segment growth addressed