Hero Motocorp
Hero Motocorp Q1 FY27 earnings call: Revenue & Margins
Q1 FY27 earnings call: what management guided on revenue, margins and order book.
What the Q1 FY27 call signalled
1 of 3 strong
The short version
Hero MotoCorp expects continued strong volume growth, driven by EV, scooters, premium variants, and global business. Hero MotoCorp expects continued volume growth, driven by premium, scooter, EV, and global business segments.
From Hero Motocorp's Q1 FY27 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Hero MotoCorp expects continued strong volume growth, driven by EV, scooters, premium variants, and global business.
- Q1 FY27 volume grew 23% YoY with revenue growth of 36%, indicating premiumization and calibrated price increases.
- Industry 2-wheeler growth projected near double digits for full year FY27, with continued positive momentum in H2.
- EV business (VIDA) saw 151% YoY growth, with plans to expand capacity from 15,000 to 45,000 units monthly in FY27.
- Premium motorcycle segment will see multiple new model launches in next 12 months, though some flagship models post-festive.
- Parts and accessories business growing strongly (30%+ YoY), with further expansion planned via capacity doubling (GPC 2.0).
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Profitability & Margins
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Capital Expenditure Plans
- Announced GPC 2.0 investment with a CapEx of INR 750 crores to more than double parts business capacity.
- Tripling EV capacity in FY27: increased monthly EV capacity from 15,000 to nearly 30,000 units as of August 2026; targeting 45,000 per month by end of FY27.
- Increased ICE capacity: added 2,000 per day capacity for Splendor (~50,000 per month), doubled capacity for Destini, and a 50% capacity increase for Xoom scooters.
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Fundraising & Capital Structure
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Order Book & Pipeline
- VIDA (EV segment) has almost nil channel inventory, with only 2 to 3 days of stock depending on the region, indicating very low pending orders.
- Current supply and shipping of VIDA products are immediately retailed, showing strong pent-up demand.
- Capacity expansion includes adding 10,000 more units for VIDA in August, expected to be absorbed immediately due to strong demand.
- ICE scooters, such as Xoom and Destini variants, have channel stock levels around half of the typical average, indicating relatively low inventory and expected demand absorption.
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Hero Motocorp — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹13.0K Cr, net profit ₹1.5K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Hero Motocorp's management said in earlier quarters
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Frequently Asked Questions
What were Hero Motocorp Q1 FY27 results?
Hero MotoCorp expects continued strong volume growth, driven by EV, scooters, premium variants, and global business. Hero MotoCorp expects continued volume growth, driven by premium, scooter, EV, and global business segments.
What is Hero Motocorp share price analysis?
Hero Motocorp currently shows a below-average growth signal. The stock trades at a P/E of 18.9 with a market cap of ₹104,574 Cr. Investors should review the full earnings analysis for detailed insights.
Is Hero Motocorp planning capital expenditure?
Announced GPC 2.0 investment with a CapEx of INR 750 crores to more than double parts business capacity.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.