Hero MotoCorp

Hero MotoCorp reported a strong Q4 FY26 with record revenue of INR 12,797 croreCurrent reported value: INR 12,797 crore. No comparable prior figure is available in the source record. (+29Current 29 crore vs previous available quarter 21 crore.% YoY), EBITDA of INR 1,856 croreCurrent ₹1,856 crore vs previous available quarter ₹1,810 crore. (+31% YoY), and PAT of INR 1,401 croreCurrent reported value: INR 1,401 crore. No comparable prior figure is available in the source record. (+30Current reported value: 30. No comparable prior figure is available in the source record.% YoY). Growth was driven by market share gains in scooters (+48%Current 48%. Reported change: +48% YoY. YoY), EVs (2.5xCurrent 2.5x. Reported change: +150% YoY. volume growth), and exports (+41%Current 41%. Reported change: +41% YoY. YoY). The ICE business EBITDA margin expanded 100bps YoY to 17%, while overall margin (including EV investments) improved 30bps to 14.5%. Management guided for high single-digit industry growth in FY27 and expects to outgrow the market, supported by capacity expansion (INR 1,500 crore CapEx) and new launches. However, near-term margin headwinds from commodity inflation (aluminum, steel, rubber) and wage costs are expected to be transitory, with calibrated price hikes and cost savings as mitigants. Key risk: commodity cost escalation may pressure margins if price hikes cannot fully offset rising input costs.