Key Financial Results - Standalone (Quarter ended June 30, 2026)

Performance Metrics:

  • Two-wheelers sold: 16.77 lakh units (23% YoY growth from 13.67 lakh units)
  • Revenue from operations: ₹12,998.82 crore (36% YoY growth from ₹9,578.86 crore)
  • Other income: ₹440.89 crore
  • Total income: ₹13,439.71 crore

Expense Breakdown:

  • Cost of raw materials consumed: ₹9,222.18 crore
  • Purchase of stock-in-trade: ₹222.32 crore
  • Changes in inventories: (₹154.78) crore
  • Employee benefits expense: ₹699.11 crore
  • Finance costs: ₹6.28 crore
  • Depreciation and amortization: ₹205.31 crore
  • Other expenses: ₹1,283.43 crore
  • Total expenses: ₹11,483.85 crore

Profitability:

  • Profit before exceptional item and tax: ₹1,955.86 crore
  • Exceptional item: None in current quarter (₹119.00 crore in FY26 for New Labour Code)
  • Profit before tax: ₹1,955.86 crore
  • Tax expense: ₹501.38 crore (Current tax: ₹475.37 crore, Deferred tax: ₹26.01 crore)
  • Profit after tax: ₹1,454.48 crore (29% YoY growth from ₹1,125.70 crore)
  • Other comprehensive loss: (₹4.02) crore
  • Total comprehensive income: ₹1,450.46 crore

Per Share Data:

  • Basic EPS: ₹72.69 (face value ₹2 each)
  • Diluted EPS: ₹72.63
  • Paid-up equity share capital: ₹40.02 crore

Key Financial Results - Consolidated (Quarter ended June 30, 2026)

Performance Metrics:

  • Revenue from operations: ₹13,126.35 crore (35% YoY growth from ₹9,727.75 crore)
  • Other income: ₹459.74 crore
  • Total income: ₹13,586.09 crore

Expense Breakdown:

  • Total expenses: ₹11,621.48 crore
  • Profit before share of associates: ₹1,964.61 crore
  • Share in net loss of associates: (₹43.89) crore
  • Profit before exceptional item and tax: ₹1,920.72 crore
  • Profit before tax: ₹1,920.72 crore
  • Tax expense: ₹502.79 crore
  • Profit after tax: ₹1,417.93 crore
  • Total comprehensive income: ₹1,410.57 crore

Attribution:

  • Net profit attributable to owners: ₹1,412.36 crore
  • Net profit attributable to non-controlling interest: ₹5.57 crore

Per Share Data:

  • Basic EPS: ₹70.59 (face value ₹2 each)
  • Diluted EPS: ₹70.53

Corporate Actions and Updates

Dividend Information:

  • Final dividend of 3750% (₹75 per equity share) approved on May 05, 2026 for FY25-26
  • Interim dividend of 5500% (₹110 per equity share) already paid
  • Aggregate total dividend for FY25-26: ₹185 per equity share (9250%)
  • Shareholders approved dividends in AGM held on August 05, 2026

Share Issuance:

  • 3,161 equity shares of ₹2 each issued and allotted under Employee Incentive Scheme 2014 during quarter

Investment Activity:

  • Investment in Euler Motors Private Limited (Associate) during FY26: ₹720.00 crore
  • No investments in current quarter

New Subsidiary Formation:

  • Board approved setting up company under Section 8 of Companies Act, 2013 for CSR initiatives
  • Proposed to be wholly-owned subsidiary of Hero MotoCorp Limited
  • Initial subscription money: ₹1 crore
  • Requires Central Government/Ministry of Corporate Affairs approval
  • Country of incorporation: India
  • Industry: Non-profit organisation

Regulatory and Compliance Matters

Environment Protection Rules:

  • Environment Protection (End-of-Life Vehicles) Rules, 2025 effective from April 01, 2025
  • Extended Producer Responsibility obligations imposed on vehicle manufacturers
  • Centralized Online Portal partially operational, but pricing mechanism and measurement framework not available
  • Company unable to reliably estimate financial implications

Battery Waste Management Rules:

  • Notified on February 24, 2025, applicable to producers including manufacturers
  • Sufficient guidance on waste collection mechanisms and associated costs not yet available
  • Company unable to reliably estimate range of possible outcomes

Labour Code Implementation:

  • Government notified four Labour Codes on November 21, 2025 consolidating 29 existing laws
  • Company made additional provision of ₹119 crores in FY26 for financial implications
  • Presented as exceptional item due to materiality, regulatory-driven and non-recurring nature

Operational Highlights from Press Release

Business Performance:

  • Volume growth of 23% YoY to 16.77 lakh units
  • PAM business revenue: ₹1,689 crore (30% growth)
  • VIDA electric business: 151% YoY growth
  • Global business: 63% YoY growth
  • Harley-Davidson business: 105% YoY growth
  • Expanded to 21 Harley-Davidson dealerships nationwide

Product Initiatives:

  • Introduced flex-fuel variants of Splendor+ and HF Deluxe
  • Expanded ICE portfolio with Passion+ Disc, Super Splendor XTEC 2.0
  • Commenced retail of DIRT.E K3 off-road range
  • Awards: XPulse 210 (Adventure Bike of the Year), Xtreme 250R (Bike of the Year)

Management Commentary:

  • CEO Harshavardhan Chitale cited strong momentum across premium, electric, commuter segments and global business
  • Growth strategy focused on premiumisation, electric mobility scaling, global expansion
  • Continued investments in technology, innovation, manufacturing, and customer experience

Governance and Approval Process

Meeting Details:

  • Board Meeting held on August 06, 2026 from 03:00 p.m. to 07:45 p.m.
  • Financial results reviewed by Audit Committee and approved by Board of Directors
  • Results submitted to NSE (Scrip Code: HEROMOTOCO) and BSE (Scrip Code: 500182)

Auditor Review:

  • Deloitte Haskins & Sells LLP conducted limited review of interim financial results
  • Review performed under SRE 2410 standards
  • No material misstatements identified in standalone or consolidated results
  • Subsidiaries and associates reviewed by other auditors as specified

Additional Information

Segment Reporting:

  • Single operating segment: automotive segment

Previous Period Figures:

  • Figures for quarter ended March 31, 2026 are balancing figures between audited FY26 and published nine-month results
  • Previous period figures regrouped/reclassified where necessary

Availability: