Hero MotoCorp Q2 FY27 Earnings Call Transcript Released
Hero MotoCorp reported strong Q2 FY27 results with revenue up 21% to ₹14,687 crore and PAT at ₹1,456 crore. The company gained market share in ICE portfolios and saw robust EV growth (VIDA retail up 105%). Management is investing ₹700 crore in a new Parts Center and aims for 14-16% EBITDA margins.
The announcement details strong financial performance, strategic growth initiatives, and significant investments, which are material to investors and the company's future prospects.
The company reported strong financial results, revenue growth, market share gains, and positive developments in its EV business, indicating a favorable outlook.
Hero MotoCorp Limited has released the transcript of its earnings conference call held on October 29, 2026, for the quarter ended September 30, 2026. The call featured insights from CEO Harshavardhan Chitale and CFO Vivek Anand, alongside other key management personnel.
During the call, management highlighted strong performance in the two-wheeler industry, with VAHAN retail growing over 27% in Q2 FY27. Hero MotoCorp itself saw robust retail growth of over 20% year-on-year in H1 FY27, with ICE retails outperforming industry growth at 24% year-on-year in Q2. The company gained market share in its ICE portfolio every month of the last quarter.
Key growth drivers included a strong performance in the scooter portfolio, with ICE scooter dispatches growing 34% year-on-year in Q2 and market share crossing 10% in key southern markets. The 100cc motorcycle category also showed healthy growth. Hero MotoCorp's EV portfolio, VIDA, saw retail growth of 105% year-on-year, with market share gaining 170 basis points in H1 FY27. Capacity for VIDA has been expanded to 30,000 units per month, with plans to reach 80,000 units per month by Q2 FY28.
The Parts business recorded a revenue growth of 27% year-on-year, driven by EV and Harley-Davidson portfolios, prompting an investment of over ₹700 crore in a new Global Parts Center 2.0.
Financially, for Q2 FY27, revenue from operations stood at ₹14,687 crore, up 21% year-on-year. EBITDA grew 8% year-on-year to ₹1,968 crore, and profit after tax was ₹1,456 crore, up 5% year-on-year. Consolidated revenue increased by 23% year-on-year to ₹14,971 crore, with PAT growing 41% year-on-year to ₹1,861 crore. Notably, the VIDA business turned gross margin positive in the quarter.
Management expressed confidence in continued growth, supported by strategic initiatives, capacity expansions, and new product launches, including refreshes for Xtreme 160R and Xtreme 250R. They anticipate mid to high single-digit growth for the industry in H2 FY27 and aim to achieve EBITDA margins of 14% to 16% in the medium term.
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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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