News ArticleHero MotoCorp Posts 21% Revenue Growth and Market Share Gains in Q2 FY 2026-27
Company’s revenue rises to ₹14,687 crore led by volume increase and product mix improvements amid expanding EV and scooter sales
Hero MotoCorp Limited reported a 21% increase in revenue from operations to ₹14,687 crore in Q2 FY 2026-27, driven by 10% volume growth, improved product mix, and pricing actions. The company expanded market share in key segments including 100cc and 125cc motorcycles, and scooters, with an 11% increase in half-year revenue supporting sustained growth across domestic and global markets.
Hero MotoCorp Limited
Investor Presentation
Hero MotoCorp Limited announced a 21% increase in its revenue from operations to ₹14,687 crore for the quarter ending September 2026, driven by a 10% increase in volumes along with product mix enhancement and pricing actions. The company also reported expansion in market share in several motorcycle and scooter segments, supported by strong growth in parts and accessories business.
For Q2 FY 2026-27, Hero MotoCorp recorded a profit after tax (PAT) of ₹1,456 crore, a 5% increase compared to the same period last year, and an EBITDA of ₹1,968 crore with a margin of 13.4%. The EBITDA margin was impacted by commodity cost pressures but partially offset by cost efficiencies and operating leverage.
The company showed improved market share in the 100cc motorcycle segment rising to 85.0%, a gain from 81.1% the previous year, and in the 125cc motorcycle segment moving to 17.7%. Scooters, including EVs, also grew with market share increasing to 7.1%, supported by new product launches and marketing campaigns.
Hero MotoCorp’s electric vehicle (EV) portfolio expanded, with VIDA EV retail sales doubling in the half year, and the company advanced its charging infrastructure with over 6,000 points. The parts, accessories, and merchandise division reported revenue growth of 28.3% reaching ₹3,630 crore in the half year.
Globally, the company strengthened market presence with new model launches such as Xpulse 200 in Bangladesh and Xoom 125 in Europe, contributing to an 8.6% increase in dispatch volumes in international markets for the half year.
Production capacity is being expanded from 8.63 million units in FY26 to 9.2 million units by March 2027, including dedicated premium lines and increased EV capacity to meet rising demand.
Highlights
- Q2 FY 2026-27 revenue from operations increased by 21% to ₹14,687 crore.
- Profit after tax for Q2 rose 5% to ₹1,456 crore; EBITDA at ₹1,968 crore with 13.4% margin.
- 100cc motorcycle market share increased to 85.0%, 125cc segment gained to 17.7%.
- Scooter market share grew to 7.1%, boosted by new models and marketing efforts.
- Electric vehicle retail sales doubled in first half of FY27 with expanding charging network.
- Parts and accessories revenue grew by 28.3% to ₹3,630 crore in H1 FY27; new 'Xclusive Parts' premium range launched.
Key Data Snapshot
What happened
- Hero MotoCorp’s revenue grew by 21% in Q2 FY 2026-27 to ₹14,687 crore, fueled by 10% volume growth, pricing actions, and product mix improvements.
- Profit after tax rose 5% to ₹1,456 crore, and EBITDA stood at ₹1,968 crore with a margin of 13.4%.
- Company expanded market share in key motorcycle segments: 85.0% in 100cc and 17.7% in 125cc categories during H1 FY27.
- Scooter market share improved to 7.1%, supported by electric and internal combustion engine (ICE) models.
- Parts and accessories business revenue increased by 28.3% to ₹3,630 crore in H1 FY27, including launch of premium 'Xclusive Parts' range.
- Electric vehicle sales increased substantially with VIDA EV retailed units doubling in the first half of FY27, supported by expanded charging infrastructure.
Key details
- Q2 FY 2026-27 revenue from operations stood at ₹14,687 crore, up 21% year-on-year.
- Q2 FY 2026-27 profit after tax was ₹1,456 crore, an increase of 5% compared with previous year.
- EBITDA for Q2 was ₹1,968 crore, representing 13.4% margin, affected by commodity costs but aided by cost controls.
- Market share in the 100cc motorcycle segment rose to 85.0% in H1 FY27, up 3.9 percentage points year-over-year.
- Scooter segment market share increased to 7.1%, up 1.6 percentage points year-over-year, propelled by marketing and new products.
- Electric vehicle market share reached 11.0% in H1 FY27, reflecting growth of 1.7 percentage points from last year.
- Production capacity is planned to expand from 8.63 million units in FY26 to 9.2 million units by March 2027, including capacity for premium and EV products.
Strategic context
- Hero MotoCorp leverages innovation, marketing campaigns, and expanded capacity to sustain leadership in motorcycles, scooters, and EV segments.
- Focus on premiumization includes dedicated production lines, product feature enhancements, and extended dealer network for premium models.
- Growth in non-product revenue streams, including parts, accessories, merchandise, and EV charging subscription models, supports diversification.
- Company is advancing EV leadership with new product launches under VIDA brand and ramping up battery and charging services.
- Global business expansion includes market share gains in Colombia, Bangladesh, Europe, and Sri Lanka with new product introductions.
Next milestones
- Completion of capacity expansion to 9.2 million units by March 2027 to meet increasing demand.
- Continued ramp-up of premium and EV production lines to support portfolio growth.
- Broaden distribution of 'Xclusive Parts' premium range and strengthening parts and accessories sales channels.
- Scaling VIDA EV sales and charging network, targeting strengthened EV market presence.
- Ongoing launches and marketing activities in global markets including Europe and South Asia to capture market opportunities.
Highlights
- Q2 FY 2026-27 revenue from operations increased by 21% to ₹14,687 crore.
- Profit after tax for Q2 rose 5% to ₹1,456 crore; EBITDA at ₹1,968 crore with 13.4% margin.
- 100cc motorcycle market share increased to 85.0%, 125cc segment gained to 17.7%.
- Scooter market share grew to 7.1%, boosted by new models and marketing efforts.
- Electric vehicle retail sales doubled in first half of FY27 with expanding charging network.
- Parts and accessories revenue grew by 28.3% to ₹3,630 crore in H1 FY27; new 'Xclusive Parts' premium range launched.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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