Hero MotoCorp Q2 Results: Profit surges 41% YoY to Rs 1,861 crore, revenue jumps 23%

Hero MotoCorp on Wednesday reported a 41% year-on-year (YoY) growth in consolidated profit after tax (PAT) at Rs 1,861 crore for the second quarter of FY27 (Q2FY27), compared with Rs 1,309 crore in the corresponding quarter of the previous fiscal (Q2FY26).

Consolidated revenue rose 23% YoY to Rs 14,971 crore in Q2 FY27 from Rs 12,218 crore in Q2 FY26, the company said in its earnings announcement.

On a standalone basis, revenue from operations grew 21% YoY to Rs 14,687 crore during the quarter.


Despite commodity-related headwinds, the company maintained its EBITDA margin at 13.4%. Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 1,968 crore, up 8% from the year-ago period.

Standalone PAT increased 5% YoY to Rs 1,456 crore.

Scooters, 100cc motorcycles drive volume growth

Hero MotoCorp's scooter portfolio continued to contribute to growth during the quarter, with volumes rising 47% YoYto 2.40 lakh units.

Within the portfolio, internal combustion engine (ICE) scooters gained market share, supported by the Destini and Xoom series. The two series recorded 50% YoY growth, with dispatches of 1.37 lakh units during the quarter.

Domestic ICE scooter dispatches grew 35% YoY, helping the company expand its market share by one percentage point to 7.3%.

The combined ICE and electric scooter portfolio accounted for 13% of Hero MotoCorp's volume mix in Q2 FY27, compared with 10% in the year-ago quarter.

The company also reported an improvement in its market share in the 100cc motorcycle segment, which expanded 5% YoY to 84.4%. Growth in the segment was supported by more than 20% growth in the Splendor portfolio.

VIDA records 76% growth in retail sales

Hero MotoCorp's electric mobility brand VIDA continued to expand, recording 76% YoY growth in retail sales to 66,531 units during the quarter.

The company expanded its electric scooter range with the launch of the VIDA VX2 Plus with a 4.4 kWh battery and the VIDA VX2 Go with a 3.1 kWh battery.

VIDA also made its global debut in Nepal, marking its entry into its first international market. The launch portfolio included the VIDA VX2 electric scooters in Plus and Go variants, along with the VIDA DIRT.E K3 youth off-road model.

Hero MotoCorp also launched the Glamour X with Integrated Anti-lock Braking System (ABS), which the company described as the first motorcycle in the 125cc segment to feature single-channel ABS paired with an Integrated Braking System (IBS).

Global expansion and investment plans

Hero MotoCorp expanded its global footprint during Q2 FY27 with its entry into Germany, taking its presence to 54 international markets. The company also launched the XPulse 200 4V and XPulse 200 4V Pro in Bangladesh.

In India, the company announced cumulative investments of more than Rs 3,200 crore in Andhra Pradesh and laid the foundation stone for its second Global Parts Centre in Tirupati.

The company continued to strengthen its premium motorcycle business, appointing Anuj Dua as Chief Business Officer for the premium segment.

Its Harley-Davidson business recorded 30% sequential growth and 19% YoY growth in the first half of the fiscal year, according to the company. Hero MotoCorp also expanded its Harley-Davidson retail network to offer globally sourced completely built-up (CBU) models alongside the locally manufactured X440 and X440 T.

In September 2026, the company crossed the milestone of 50,000 Harley-Davidson X440 and X440 T motorcycles on Indian roads.

Separately, Hero MotoCorp approved an additional investment of up to Rs 300 crore in HMCL Netherlands B.V., its wholly owned subsidiary. The investment will be made in one or more tranches to fund further investments in its subsidiaries, HMCL Colombia S.A.S. and Hero MotoCorp Do Brasil Ltda.

Management commentary

Commenting on the performance, Harshavardhan Chitale, chief executive officer of Hero MotoCorp, said scooters were a key growth contributor during the quarter, supported by momentum across both the ICE and VIDA electric portfolios.

The company's 100cc motorcycle segment also continued to contribute to overall growth, he said, adding that the focus remained on sustaining momentum, driving profitable growth and building a more diversified business.

“We delivered a strong performance this quarter, with scooters emerging as a key growth contributor, supported by healthy momentum across both, ICE and VIDA electric portfolio,” Chitale said.

He added that the performance reflected the company's product offerings and its ability to respond to changing customer preferences across segments.

Hero MotoCorp shares

Ahead of the results announcement, Hero MotoCorp shares ended Wednesday's trading session on the NSE at Rs 5,322.50, up nearly 2% from the previous close of Rs 5,218.50.

Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here