Hero MotoCorp Q1 FY27 Earnings Call Transcript Released
Hero MotoCorp's Q1 FY27 earnings call transcript reveals 14% industry volume growth, with Hero's dispatches up 23% and revenue up 36%. EV volumes surged 151%, and flex-fuel variants saw strong initial sales. The company reported Q1 revenue of ₹12,999 crore and PAT of ₹1,454 crore. Medium-term EBITDA margin target remains 14-16%.
The announcement provides detailed financial performance for the quarter, strategic updates on product launches, capacity expansions, and future outlook, which are crucial for investors and stakeholders in assessing the company's performance and future trajectory.
The company reported strong growth in volumes and revenue, significant market share gains in key segments like EV and scooters, and positive initial traction for new product launches like flex-fuel variants. Management expressed confidence in future growth prospects.
Hero MotoCorp Limited has released the transcript of its earnings conference call held on August 7, 2026, for the quarter ended June 30, 2026. The call featured key management personnel including Mr. Harshavardhan Chitale (CEO), Mr. Vivek Anand (CFO), and other business unit heads.
During the call, management highlighted strong growth in the two-wheeler industry, with volumes growing 14% year-on-year in Q1 FY27, driven by both ICE (11% growth) and EV (67% growth). Hero MotoCorp's dispatches grew by 23% year-on-year, and revenue increased by 36%, attributed to improved price realization and a favorable mix shift towards EV, premium, and scooters. The company gained 30 basis points in wholesale market share overall.
Significant focus was placed on the EV segment, with wholesale growth of 151% and market share gains of over 400 basis points. Capacity expansion for EVs is on track, aiming to triple capacity to 45,000 units per month by the end of the financial year. New EV products, including the VIDA VX2 Plus with an 187 km range and the VX2 Go, were launched.
The company also introduced flex-fuel variants of its Splendor and HF models, designed to operate with ethanol blends from 20% to 85%, seeing strong initial traction with nearly 5,000 units sold within two weeks of dispatch. Capacity expansions were also made in ICE models like Splendor and Destini.
Financially, for Q1 FY27, Hero MotoCorp reported revenue from operations of ₹12,999 crore, EBITDA of ₹1,727 crore, and profit after tax of ₹1,454 crore. Despite commodity cost pressures impacting gross margins, the company focused on cost rationalization and judicious pricing actions to manage EBITDA margins. The company reiterated its medium-term EBITDA margin target of 14% to 16%.
Management expressed confidence in future growth, supported by new product launches, capacity expansions, and strategic initiatives in premiumization, EVs, and global business. The company also noted strong retail finance penetration, reaching close to 65% in the previous month.
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Hero MotoCorp Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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