Hero MotoCorp Ltd — Q4FY26 earnings call summary

Filed 11 May 2026 · Official transcript

FY27 capex ₹1,500 Cr focused on scooters, EV capacity doubling, and global parts center
Industry volume growth guidance high single-digit for FY27; scooters expected to grow faster than motorcycles
Commodity cost inflation causing short-term margin pressure; calibrated price hikes (~2%) and cost savings underway
FY26 revenue ₹46,830 Cr +15% y-y; EBITDA ₹6,871 Cr +17% y-y; PAT ₹5,268 Cr +14% y-y; EBITDA margin 14.7% including EV investments
Exports grew 41% y-y; focus on Latin America, Africa, and SAARC markets with expansion plans
Q4FY26 revenue ₹12,797 Cr +29% y-y; EBITDA ₹1,856 Cr +31% y-y; PAT ₹1,401 Cr +30% y-y
EV business losses per unit declining; PLI covers ~13% of revenue aiding path to EV profitability
Dealer inventory reduced to ~5 weeks; EV scooter inventory low