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Hero MotoCorp Results: Latest Quarterly Results & Analysis

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Hero MotoCorp Ltd. 14 Nov 2025 11:49 AM
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Q2FY26 Quarterly Result Announced for Hero MotoCorp Ltd.

2/3 Wheelers company Hero MotoCorp announced Q2FY26 results

  • Volume: 16.91 lakh units of motorcycles and scooters sold in Q2FY26 (vs 15.20 lakh units Q2FY25)
  • Revenue from operations: Rs 12,126 crore, a growth of 16% over the corresponding quarter in the previous fiscal.
  • Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for Q2FY26 stands at Rs 1,823 crore, a growth of 20%.
  • Net Profit After Tax (PAT) at Rs 1,393 crore, a growth of 16% over the previous year.

Vivek Anand, Chief Financial Officer (CFO), Hero MotoCorp, said: “The change in the GST regime has fundamentally simplified India's indirect tax structure and demonstrably improved consumer sentiment. The industry witnessed direct benefits of this policy reform, reflected in strong market performance.

In Q2FY’26, the auto industry returned to broad based growth, further supported by positive festive sentiment. Hero MotoCorp witnessed strong momentum, aided by the success of our new launches, expanding product portfolio, and customer-centric marketing campaigns. Furthermore, our Emerging Mobility business—VIDA—returned growth ahead of the industry average, and the Company outperformed the markets in global business.

We expect the momentum in growth to continue, supported by benefits flowing in from the GST reforms, healthy macro economic parameters, and a robust product portfolio. We remain committed to sustained growth and will continue to invest strategically in technology, global markets, and product innovation to build long-term value for our shareholders.”

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2/3 Wheelers company Hero MotoCorp announced Q1FY26 results

  • Revenue and PAT were Rs 9,728 crore and Rs 1,706 crore (previous Rs 1,032 crore), respectively.
  • Consolidated profit for the quarter includes onetime gain of Rs 722 crore on account of dilution of the Company’s share of investment in associates consequent to Public Issue and Private Placement.
  • Hero MotoCorp strengthened its product positioning through portfolio enrichments. In the 125 cc scooter segment, the charge was led by the Destini 125 and Xoom 125. In the 100cc motorcycle segment, Hero MotoCorp expanded the HF Deluxe Portfolio with the launch of the HF Deluxe Pro.

Vivek Anand, Chief Financial Officer, said: “Our profitability and margins remained resilient, supported by strong demand for our entry & deluxe motorcycles and 125 cc scooter segments. We are witnessing good traction in our electric mobility business (VIDA), and global operations also remained ahead of industry, reflecting the strength of our brand in international markets.

With favourable customer sentiment, upcoming festive season and a robust pipeline of new product launches, we are confident of sustaining and driving growth in the coming quarters.”

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2/3 Wheelers company Hero MotoCorp announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue from Operations stood at Rs 9,939 crore, compared to Rs 9,519 crore in Q4FY24, registering a growth of 4%.
  • EBITDA for Q4FY25 stands at Rs 1,416 crore, growth of 4%.
  • Profit before tax (PBT) at Rs 1,442 crore, growth of 7%.
  • Net Profit for the quarter was Rs 1,081 crore, reflecting a growth of 6% over the Rs 1,016 crore reported in Q4FY24.
  • Volume – 13.81 lakh units of motorcycles and scooters sold in Q4FY25.

FY25 Financial Highlights:

  • Revenue from operations – Rs 40,756 crore, a growth of 9% over FY24.
  • EBITDAfor FY25 stands at Rs 5,868 crore, growth of 12%.
  • Profit Before Tax (PBT) at Rs 6,128 crore, growth of 17%.
  • Net Profit After Tax (PAT) – Rs 4,610 crore, growth of 16%.
  • Volume – 58.99 lakh units of motorcycles and scooters sold in FY25.

Pawan Munjal, Executive Chairman, Hero MotoCorp, said: “The Pahalgam attack and the recent developments along our borders serve as a powerful reminder of the ongoing threats our nation faces. As we unite to confront terrorism and uphold the values of humanity, we are guided by the strong leadership of our Hon’ble Prime Minister, Shri Narendra Modi.

Moments like these highlight the true essence of leadership — it’s not just about running organizations, but about shaping how we respond, how we support, and how we lead with empathy and resolve.

As leaders in Indian and global industry, it is our duty to stand with our people, our communities, and above all, with the brave men and women of our Armed Forces who protect us from those who seek to harm our nation.”

Vikram S Kasbekar, Executive Director & Acting Chief Executive Officer, said: “We achieved highest ever revenue and profit in the year, reinforcing our position as the market leader for the 24th consecutive year, closing both CY24 and FY25 at the top.

Our success during the year was underpinned by robust growth across the premium, scooter, and EV segments, fueled by several new product launches. Export volumes outpaced industry trends, and we further expanded our premium retail footprint across India while entering new global markets.

We are observing strong retail traction, especially in our new premium and scooter offerings. Continued consolidation in the core segment, growth in the 125cc category, and the upcoming EV launch position us well for sustained momentum”

Vivek Anand, Chief Financial Officer, said: “Hero MotoCorp delivered strong financial performance during the year, driven by disciplined fiscal management and focused strategic execution.

Looking ahead, we remain optimistic about the near to mid term outlook, key macroeconomic indicators, including revised income tax slabs, repo rate cuts, a strengthening rural economy, and a favorable monsoon forecast, are expected to support industry growth.”

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2/3 Wheelers company Hero MotoCorp announced Q3FY25 results

  • Volume: 14.64 lakh units of motorcycles and scooters sold in Q3FY25 (vs 14.60 lakh units Q3FY24).
  • Revenue from operations: Rs.10,211 crore (vs Rs 9,724 crore), reflecting a growth of 5%. over Q3FY24.
  • Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for Q3FY25 stands at Rs 1,476 crore, a growth of 8%.
  • Net Profit After Tax (PAT): at Rs 1,203 crore a growth of 12%.

Vivek Anand, Chief Financial Officer (CFO), Hero MotoCorp, said: “The performance in this quarter and fiscal year, reflects the successful execution of our strategic priorities. Demonstrating strong year-to-date results in both top-line and bottom-line growth, we have achieved the highest-ever nine-month revenue and profits.

“As we move into the next fiscal year, the products launched at Bharat Mobility will further strengthen our presence in the premium and scooter segments.

“The Union Budget 2025's emphasis on tax relief for the middle class, along with continued investment in infrastructure and support for the agricultural sector, is expected to boost consumer confidence and drive demand growth in the auto industry.”

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2/3 Wheelers company Hero MotoCorp announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Volume – 15.20 lakh units of motorcycles and scooters sold in Q2FY25 (vs 14.16 lakh units Q2FY24).
  • Revenue from operations- Rs 10,463 crore, a growth of 11% over the corresponding quarter in the previous fiscal.
  • Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for Q2FY25 stands at Rs 1,516 crore, a growth of 14%.
  • Net Profit After Tax (PAT) at Rs 1,204 crore a growth of 14%.

H1FY25 Financial Highlights:

  • Volume – 30.55 lakh units of motorcycles and scooters sold in H1FY25 (vs 27.69 lakh units Q2FY24).
  • Revenue from operations- Rs 20,607 crore, a growth of 13% over the corresponding period in the previous fiscal.
  • Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for H1FY25 stands at Rs 2,976 crore, a growth of 17%.
  • Net Profit After Tax (PAT) at Rs 2,326 crore a growth of 24%.

Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said: “We have continued our exceptional performance in Q2FY25, once again creating a new high in both topline and bottomline. Our strong focus on cash management has resulted in us delivering strong cash flow, strengthening our financial position even further.

While our existing line up of strong brands continue to deliver in Entry and Deluxe segment , our journey to build a powerful portfolio in premium segment is progressing with pace. As unveiled in EICMA, we will see 3 more models in this segment in next 6 months ? Xpulse 210 , Xtreme 250R and Karizma XMR 250 . Apart from portfolio, we will continue to expand Premia stores targeting to cross 100 by the end of the current fiscal year. Our strong financials will allow us to now aggressively invest behind brand building.

We are also planning a slew of launches in scooter segment, covering both ICE and EV. We will have 3 models coming in ICE scooters by March 2025, containing many first in class and best in class features. Our VIDA market shares continue to move up, and we will be expanding the portfolio to cover all price segments soon.

The recently concluded festive season saw us clocking our highest ever retails at 16 lakhs units, backed by higher demand from rural sector. We believe that the strong monsoon will help the momentum in the Industry going forward. The fundamentals look good for Indian economy in general and 2 wheeler industry in particular”

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Automobile company Hero MotoCorp announced Q1FY25 results:

  • Volume - 15.35 lakh units of motorcycles and scooters sold in Q1 FY’25 (Vs 13.53 lakh units Q1 FY’24)
  • Revenue from operations - Rs 10,144 crore (highest ever quarterly Revenue), a growth of 16% over the corresponding quarter in the previous fiscal 
  • Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for Q1 FY’25 stands at Rs 1,460 crore, a growth of 21%
  • Profit before tax (PBT) - at Rs 1,494 crore, a growth of 36%
  • Net Profit After Tax (PAT) - at Rs 1,123 crore a growth of 36%. Highest ever quarterly underlying profit, adjusted for exceptional items.  

Mr. Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said, “We continue to be on the profitable growth journey, crossing Rs 10,000 crore revenue for the first time ever, accompanied by highest ever underlying PAT. As we surge forward, we are investing behind long term capability building to ensure sustained delivery of growth in future.

We are seeing a sharp recovery in market share in 125 cc segment charged by the new model Xtreme 125 cc, while we continue to maintain formidable market share in entry and deluxe 100/110 cc segment of over 70% powered by our brands like Splendor, Passion, and HF deluxe. Our focus moving forward will be, building our brands in premium segment on the back of launches done in last few quarters, to win in this segment. We will be launching new models in scooters as well in next 2 qtrs, to re?energise this portfolio.

We have seen now our EV brand Vida starting to increase its presence and market share, and we will be expanding portfolio into affordable segment within this fiscal.

The overall economic indicators in India are promising, and the inclusive policies as well as capital allocation to infra and rural sector announced in union budget is expected to bolster demand. With inflationary pressures easing, consumer spending power is set to rise, further driving momentum as we gear up for a big festive season ahead.

“Overall, we are optimistic about the demand trajectory for the coming quarters Our product launches and strategic initiatives are well?aligned to capitalize on this positive market environment, ensuring continued growth and value creation for all our stakeholders” 

Result PDF

Automobiles manufacturing company Hero MotoCorp announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Volume – 13.92 lakh units of motorcycles and scooters sold in Q4FY24 (Vs 12.70 lakh units Q4FY23)
  • Revenue from operations – Rs.9,519 crore, a growth of 15% over the corresponding quarter in the previous fiscal
  • Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for Q4FY24 stands at Rs 1,359 crore, growth of 25%
  • Profit before tax (PBT) at Rs 1,350 crore, growth of 18%
  • Net Profit After Tax (PAT) – Rs.1,016 crore, growth of 18%

FY24 Financial Highlights:

  • Volume – 56.21 lakh units of motorcycles and scooters sold in FY24 (Vs 53.29 lakh units FY’23)
  • Revenue from operations – Rs 37,456 crore, a growth of 11% over the previous year
  • Earnings before Interest, Tax, Depreciation, & Amortization (EBITDA) for FY24 stands at Rs 5,256 crore, growth of 32%
  • Profit Before Tax (PBT) before exceptional item at Rs 5,418 crore, growth of 40%
  • Net Profit After Tax (PAT) – Rs 3,968 crore, growth of 36%
  • The company declared a final dividend of Rs 40/- per share. This dividend together with interim & special dividend, marking the centennial year of Chairman Emeritus Dr Brijmohan Lall Munjal, of Rs 100 per equity share, takes the aggregate total dividend for FY24 to Rs 140 per equity share i.e. 7000%.

Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said, “The financial year 2024 has been a remarkable period for Hero MotoCorp. During the year, our focus on product launches, network upgrade and customer satisfaction drove us to new heights. From the highest number of product launches, to the expansion of new format retail outlets and upgrade at super speed, to a digital-first approach in premium, we set the building blocks in place for accelerated growth in future. Our fiscal prudence and strategic actions ensured that our financial performance has been robust, resulting in highest ever annual revenue and Profits.

Moving forward, we expect the macro-economic factors to aid the industry’s growth. With commodity prices remaining stable, expectations of normal monsoons, and government spending expected to increase, we see multiple tailwinds for the sector over the upcoming quarters. We will be driving market share gains on the back of our launches in premium and 125 cc segment done in FY 24. Further, we are going to boost scooter portfolio by launching Xoom 125 cc and Xoom 160 cc in first half of the fiscal. Coming year willsee ustaking big strides in EV, through product launches in mid and affordable segment. Overall, we see a very positive outlook for upcoming years.”

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Hero MotoCorp announced Q3FY24 & 9MFY24 results:

Q3FY24 Highlights:

  • Volume – 14.60 lakh units of motorcycles and scooters sold in Q3FY24
  • Revenue from operations – Rs 9,724 crore, (vs Rs 8,031 crore)
  • Earnings Before Interest, Tax, Depreciation, & Amortization for the Quarter stood at Rs 1,362 crore, growth of 47%
  • Net Profit After Tax (PAT) - Rs 1,073 crore, growth of 51%

9MFY24 Highlights:

  • Volume – 42.29 lakh units of motorcycles and scooters sold in nine monthsFY24
  • Revenue from operations – Rs 27,936 crore, (vs Rs 25,499 crore)
  • Earnings Before Interest, Tax, Depreciation, & Amortization for the nine months stood at Rs 3,897 crore, growth of 34%
  • Net Profit After Tax (PAT) - Rs 2,952 crore, growth of 44%

Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said, “The government's emphasis on infrastructure development, while ensuring fiscal prudence in its recent interim budget, has created a conducive business and economic environment, which would facilitate higher growth and job creation.

Our recent launches in premium segment have met with early success, and we are ramping up capacity of our upper premium models. At the Hero World event in the month of January, we unveiled 2 more premium motorcycles? the Xtreme 125 R, and Mavrick 440. We will keep fortifying our premium portfolio backed by strong brand building and best in class ‘phygital’ customer experience. Moving forward, our Margin shape will allow us to fuel our growth even more.

We have now expanded our EV presence to 100 cities in the country and we are rapidly building the charging infrastructure in collaboration with Ather. In coming fiscal, we will be launching new products in mid and affordable segment as well. We believe we are well placed to accelerate growth and increase our market shares as we move forward.”

 

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Automobile company Hero MotoCorp announced Q2FY24 & H1FY24 results:

  • Q2FY24:
    • Hero MotoCorp reported revenue of Rs 9,445 crore in Q2FY24, reflecting a 4.1% growth vs Q2FY23.
    • EBITDA for Q2FY24 stood at Rs 1,328 crore, with a growth of 28%.
    • Profit before tax (PBT) before exceptional items was Rs 1,397 crore, reflecting a growth of 45%.
    • Net profit after tax (PAT) for Q2FY24 was Rs 1,054 crore, showing a growth of 47%.
  • H1FY24:
    • For H1FY24, the company reported a volume of 27.69 lakh units of motorcycles and scooters sold, and revenue from operations stood at Rs 18,213 crore.
    • EBITDA for H1FY24 was Rs 2,535 crore, reflecting a growth of 28%.
    • PBT before exceptional items for H1FY24 was Rs 2,652 crore, with a growth of 48%.
    • PAT for H1FY24 stood at Rs 1,879 crore, reflecting a growth of 40%.

Niranjan Gupta, Chief Executive Officer, Hero MotoCorp, said, “Supported by its relatively stronger macro?economic fundamentals, India has continued to outperform most of the large global economies. A healthy festive demand across most categories specifically in the auto sector has demonstrated the underlying propensity of the robustness of the market. The consumer confidence is coming back, which augurs well for the growth momentum moving forward.

Our results for the second quarter, as well as the first half of the fiscal, reflect our continued financial discipline and prudent capital allocation even as we ensure the premiumisation of our portfolio. The premium range of products which have been launched across all key models have been received by the customers very well. Our strong margin shape will help us even more in deploying the necessary fuel behind growth priorities.

The global macro headwinds may keep the playfield a bit uncertain, and navigating the same over the next few quarters will be important. However, the medium-term outlook for India in general and the auto industry in particular appears quite encouraging.

Win in Premium Journey’ remains Hero MotoCorp’s constant focus and it is encouraging to see the strong customer response to the newly launched Harley-Davidson X440, Karizma XMR, and Xtreme 160R 4V. In line with its focus on the premium segment, the Company began customer deliveries of Karizma XMR and Harley-Davidson X440 during the quarter."

 

 

Result PDF

2/3 Wheelers company Hero MotoCorp announced Q1FY24 results:

  • Revenue from Operations for Q1FY24 stood at Rs 8,767 crore, (vs Rs 8,393 crore) and Total Income of Rs 8,989 crore (vs Rs 8,446 crore).
  • EBITDA margin for Q1FY24 stood at 13.8%, reflecting an improvement of 250 bps. The underlying EBITDA margin for ICE Business stands at 14.5%, excluding the impact of EV business.
  • Profit Before Tax and exceptional item for Q1FY24 was at Rs 1,255 crore, reflecting a growth of 52% over Rs 824 crore reported in Q1FY23.
  • Profit After Tax before exceptional item stands at Rs 945 crore, a growth of 51% over Q1FY23. PAT after the exceptional item of VRS, stands at Rs 825 crore.
  • Consolidated Revenue from operations stood at Rs 8,851 crore, a growth of 5% over Q1FY23, and PAT at Rs 701 crore, a growth of 20% over Q1FY23.
  • Volume of 13.53 lakh units of motorcycles and scooters sold in Q1FY24.

Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said, “Our underlying margins in ICE business have returned to pre-covid levels, providing us with the necessary fuel for growth as we move forward. The singular focus as we move ahead will be growth and market share. We have begun strengthening our presence in the premium segment and pre-booking number for Harley Davidson X440 is a good start. We will see more launches of new models in this segment over the next few quarters, as we intend to win big in the premium segment. Our EV presence is getting scaled up and we are on track to cover 100 cities by December this year.

The key economic indicators are trending in a positive direction, and a normal monsoon augurs well for demand, as we will soon enter the festive season. Reduced inflationary pressures moving forward, should result in more spending power in the hands of consumers. Overall, we see a positive scenario on the demand side, especially for the second half of this year and onwards”

 

 

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