Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, please find attached the transcript of the earnings conference call held on May 6, 2026, for the quarter and financial year ended March 31, 2026.
HEROMOTOCO · price
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Hero MotoCorp reported its highest ever quarterly revenue of ₹12,797 crore in Q4 FY26, up 29% YoY, with EBITDA of ₹1,856 crore and PAT of ₹1,401 crore. Full year FY26 revenue stood at ₹46,830 crore (15% growth) with PAT at ₹5,268 crore. The company declared its highest ever dividend of ₹185 per share. Key growth drivers include 48% YoY growth in scooters, 2.5x growth in EV scooter volumes, and 41% growth in global business. Management committed ₹1,500 crore capex for FY27 focused on capacity expansion in scooters and EVs. While commodity headwinds have emerged (high single-digit cost increase vs 2% price hike taken), management expects transitional margin impact but maintains medium-term EBITDA margin guidance of 14-16%. EV business losses per unit are declining quarter-on-quarter with PLI now covering 60% of EV portfolio.
Strong operational performance with margin expansion demonstrates effective cost management, though near-term commodity inflation creates temporary headwinds. Management's confidence in maintaining margin guidance and robust cash generation (₹9,395 crore operating cash flow, up 80% YoY) should support shareholder returns despite short-term margin pressure.