Hero Motocorp
Hero Motocorp Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Hero MotoCorp expects 8% to 10% growth in the 2-wheeler industry volumes during the second half of FY'26. Hero MotoCorp expects robust growth in the second half of FY'26, with 2-wheeler industry growth estimated at 8% to 10%, and the company poised to outperform and gain market share.
From Hero Motocorp's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Hero MotoCorp expects 8% to 10% growth in the 2-wheeler industry volumes during the second half of FY'26.
- The full-year growth is anticipated to be around 5% to 6%, with a tapering after the festive spike.
- Entry-level (100cc) and scooter segments are expected to lead growth, driven by new customer additions post-GST cut and rural market revival.
- Replacement cycles are picking up, accelerating volume growth.
- Premium product contribution is strong, aiding growth, especially in global markets.
- The electric vehicle (EV) portfolio (Vida) continues rapid expansion, with market share doubling and strong product pipeline fueling growth.
- Global business is expanding aggressively, with a 77% dispatch growth and entry into Europe and the UK.
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Profitability & Margins
See what Hero Motocorp said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Hero MotoCorp is focused on continued investment in product and brand building across ICE, EV, and global markets.
- There is ongoing investment behind the EV business, including significant spending for vehicle engineering and brand development.
- The company emphasizes innovative offerings like Battery-as-a-Service to democratize electric vehicle access.
- Price interventions, cost optimization (such as the LEAP program), and leveraging the Production-Linked Incentive (PLI) scheme are part of strategic investments aimed at improving gross margins and profitability.
- New product launches across segments (e.g., HF Deluxe Pro, Glamour X, Destini, Xoom 125, EVOOTER VX2) are backed by capital investments to expand capacity and market share.
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Fundraising & Capital Structure
See what Hero Motocorp said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The transcript does not explicitly mention the current or expected order book or pending orders for Hero MotoCorp.
- However, it does highlight strong demand indicators such as a robust festive season with nearly 1 million unit sales on VAHAN.
- The company reports sustained post-festive demand with the lowest inventory and receivables in recent years, indicating efficient order fulfillment.
- Market share gains and segment expansions suggest a healthy order pipeline.
- The EV business (Vida) shows robust growth with a significant market share in multiple towns.
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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 Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Hero Motocorp Q2 FY26 results?
Hero MotoCorp expects 8% to 10% growth in the 2-wheeler industry volumes during the second half of FY'26. Hero MotoCorp expects robust growth in the second half of FY'26, with 2-wheeler industry growth estimated at 8% to 10%, and the company poised to outperform and gain market share.
What is Hero Motocorp share price analysis?
Hero Motocorp currently shows a neutral. 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?
Hero MotoCorp is focused on continued investment in product and brand building across ICE, EV, and global markets.
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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.