Hero Motocorp
Hero Motocorp Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Industry expected to grow in high single digits in FY27 with broad-based growth across segments including rural and urban markets. Q3 FY26 reported PAT grew 12% YoY, normalized PAT grew 20% YoY.
From Hero Motocorp's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Industry expected to grow in high single digits in FY27 with broad-based growth across segments including rural and urban markets.
- Hero MotoCorp expects to outpace industry growth through new product launches and brand building.
- Strong momentum seen in Q3 and Q4 with continued double-digit industry growth.
- Volume growth led by scooters (both ICE and EV), premium motorcycles, and entry-level segments.
- Exports growing rapidly (~50% YTD) with plans to expand presence in global markets.
- First-time buyers increasing, constituting ~80% of customer base recently.
- Focus on capacity expansion planned for FY27 to meet demand, including EV battery supply.
- Highest ever quarterly revenue of INR 12,328 crore in Q3 with a 21% YoY revenue growth.
- EBITDA and PAT growing at 23% and 20% normalized YoY respectively.
- Company plans to address supply constraints for models like Xtreme 125R and to grow market share in underrepresented, high-growth categories.
Profitability & Margins
See what Hero Motocorp said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Capacity expansion is planned for FY27, aiming for a marked increase, particularly in EV production (Page 18).
- Focus on supply chain and capacity enhancements to support growth in high-demand models like Xtreme 125R and exports (Page 14).
- Continuous investment in building more EV models qualifying for production-linked incentive (PLI) to improve domestic value addition (Page 15).
- Expansion of premium store footprint to 106 stores, covering over 50% of the market (Page 18).
- Investments in global markets through capacity building and channel expansion in Latin America, Africa, Europe, and Philippines (Page 13).
- Efforts to strengthen supplier partnerships and co-development for capacity augmentation in fast-growing categories such as EVs and scooters (Page 15).
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Hero Motocorp said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
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 Q3 FY26 results?
Industry expected to grow in high single digits in FY27 with broad-based growth across segments including rural and urban markets. Q3 FY26 reported PAT grew 12% YoY, normalized PAT grew 20% YoY.
What is Hero Motocorp share price analysis?
Hero Motocorp currently shows a neutral. The stock trades at a P/E of 20.9 with a market cap of ₹115,882 Cr. Investors should review the full earnings analysis for detailed insights.
Is Hero Motocorp planning capital expenditure?
Capacity expansion is planned for FY27, aiming for a marked increase, particularly in EV production (Page 18).
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.