Hero MotoCorp’s September-quarter revenue rose 21% as scooter volumes surged, strengthening its push into electric scooters and premium motorcycles while commodity inflation continued to pressure margins.
For the quarter ended Sept. 30, 2026, standalone revenue from operations reached ₹14,687.43 crore and profit after tax rose 5% to ₹1,456.22 crore. Total two-wheeler sales volume increased 10.5% to 1.868 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 8% to ₹1,968 crore, with a 13.4% margin.
Scooter dispatches, including internal-combustion engine (ICE) and electric models, climbed 47.3% to 240,000 units. Motorcycle dispatches rose 6.5% to 1.628 million. Hero’s domestic ICE scooter market share reached 7.3%, up from 6.2% a year earlier, while VIDA recorded 66,531 retail sales.
On Hero’s investor call, Chief Executive Harshavardhan Chitale said the company had launched the Xtreme 160R and Xtreme 250R in October. He expects three to four additional premium-segment launches during the rest of FY27.
Hero said VIDA’s monthly production capacity reached 30,000 units in September. The company targets 45,000 units a month in Q4 FY27 and more than 80,000 by Q2 FY28. It also aims to increase total annual production capacity from 8.63 million units in FY26 to 9.2 million by March 2027.
Chitale said Hero expects exports to return to double-digit growth in Q3 and Q4 FY27. He pointed to port and customs-clearance problems in Colombia and weaker demand in Bangladesh as recent constraints.
Chief Financial Officer Vivek Anand cited inflation in steel, aluminum, plastic, rubber and freight, compounded by currency depreciation. Hero plans to respond with cost savings, operating leverage, selected price increases and improvements in VIDA’s unit economics.
The company’s consolidated results filing showed revenue up 23% and profit after tax up 41%, including a ₹397 crore gain related to an associate’s capital raise.
