NSE: HEROMOTOCO · BSE: 500182 · ISIN INE158A01026
Hero MotoCorp Limited stock analysis
Hero MotoCorp Limited ranks #150 in the TickerSutra evidence-ranked universe with a score of 71/100 and 95% data confidence. The latest captured fundamentals show ROCE of 35.2%, quarterly sales growth of 34.9% and quarterly profit growth of -17.2%.Watchlist candidate
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 35.2%
- Low debt/equity of 0.04×
- Strong CFO/EBITDA of 1.18×
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- No calculated threshold risk in the current snapshot.
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹29,551cr | ₹3,256cr | ₹2,329cr | 11.0% |
| 2023 | ₹34,158cr | ₹4,099cr | ₹2,800cr | 12.0% |
| 2024 | ₹37,789cr | ₹5,235cr | ₹3,742cr | 14.0% |
| 2025 | ₹40,923cr | ₹5,789cr | ₹4,376cr | 14.0% |
| 2026 | ₹47,411cr | ₹7,059cr | ₹5,776cr | 15.0% |
| TTM | ₹50,810cr | ₹7,090cr | ₹5,488cr | 14.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the schedule of investor conference.
RoutineHero MotoCorp Ltd - 500182 - Announcement under Regulation 30 (LODR)-Credit RatingBSE · 18 Sept 2026Pursuant to Regulation 30 of the SEBI Listing Regulations, please find attached the disclosure document informing that the Company has been assigned an ESG Score of "74" by Niche Ninety ....
RoutineHero MotoCorp Ltd - 500182 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationBSE · 10 Sept 2026Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the schedule of investor conference.
MANAGEMENT COMMENTARY
Signals from filed documents
And you will see that going forward increasing as we have just now introduced 2 very exciting new products, and later on, Kausalya can speak more about that. And we've also done the first leg of our capacity expansion, which comes on stream, has already come on stream on August 1st. So both these new launches as well as additional capacity will see a further boost to our EV sales going forward.
ICE overall grew 21% year -on-year with 18% growth in domestic volumes and 63% growth in global business. Within ICE - scooters, we gained market share by 2.3%. So 230 basis point market share gain was in scooters alone.
Export Indicators ✦ Exports crossed 5 million units ✦ Growth remained robust ✦ Geographic diversification supported momentum ✦ International recovery improved visibility What This Means for Us Hero MotoCorp's Global Business has maintained strong momentum, driven by a strengthened product portfolio and an expanded distribution and service network. Going forward, growth will be supported by further portfolio enhanceme
So we've launched some products and some of the products have already started to be profitable, right. So as we scale up our capacity and as we scale up, we will continue to get operating leverage that will help improve our profitability. We are working on BOM cost reduction.
Targeted interventions such as supplier and design workshops, teardown-led cost benchmarking, strategic sourcing with proprietary partners, supplier consolidation and logistics network optimisation—enhanced cost competitiveness. These efforts also contributed to EBITDA margin expansion, particularly in the premium and scooter segments. Future-ready Partner Ecosystem We conducted high-impact idea-generation workshops
However, our focus would be to mitigate that through volume and focus on absolute EBITDA growth and not just EBITDA percent. So in the midterm, we are confident of going back to it, but not in the short term. Just to add, I think clearly, when we look ahead to the current quarter, which is quarter 2 financial year '27, we expect a ma rginal uptick in input cost inflation, right .
We are aiming for that kind of growth going forward. And our volume expansion is planned keeping in view growth in exports as well. And also, you're right, with the price realization and the FX gain that it provides, we did see benefit of that also in last quarter.
At Hero MotoCorp, we are highly cognisant of the structural shifts driving the two-wheeler industry toward premiumisation, scooterisation, and electrification. Capitalising on our 25 consecutive years of global market leadership, we have actively enhanced our positioning across these emerging segments by launching highly differentiated products within our premium motorcycle, scooter, and EV portfolios. To support thi
And finally, we took judicious price actions across select models, balancing margin protection with market momentum. As a direct result of these initiatives, even with a gross margin contraction of 300 basis points quarter-on-quarter, our overall EBITDA margin decline was lower at 120 basis points sequentially, landing at 13.3%, thanks to the disciplined cost management as reflected in a 14% sequential reduction in o
The conflict in West Asia triggered inflationary spikes across oil and gas, freight, foreign exchange and core raw materials, including steel, aluminum and precious metals. Because of this, our gross margin for the quarter came down under pressure, contracting 300 basis points quarter -on-quarter, primaril y due to an approximate 4.5% net commodity inflation impact. Recognizing these headwinds risk early, we moved qu
What is particularly encouraging is that our revenue growth outpaced volume growth significantly, coming in at 36% year-on-year. This top line expansion was driven by premiumization across our portfolio, driven by a shift in mix towards EV, scooters and premium variants, contributing a mix benefit of 8% with the rest coming from calibrated price increase. Notably, this includes strong growth in our parts business of
✦ Erosion of customer and public trust. ✦ Exposure to legal and regulatory risks stemming from biased or unfair AI practices. ✦ Operational inefficiencies and competitive disadvantage.
MANAGEMENT PROMISE LEDGER
Quantified statements on the clock
“Our primary focus will remain on driving EBITDA growth while progressing towards our medium-term EBITDA margin target range of 14% to 16%. Going forward, our journey of investment behind growth will continue, both in terms of capacity expansion and brand building to support our premium, scooters, EV and global business portfolio. Thank you once again for your time and continued support.”
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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