Hero MotoCorp clocks record Q2 FY26 revenue and profit

Hero MotoCorp Ltd. announced its Q2 FY26 earnings, reporting its highest-ever quarterly revenue of ₹12,126 crores, a 16% year-on-year growth. EBITDA reached a record ₹1,823 crores, up 20%, with PAT increasing by 16% to ₹1,393 crores. For the first half of FY26, revenue was ₹21,705 crores, growing 5.3%, EBITDA ₹3,205 crores (up 7.7%), and PAT ₹2,519 crores (up 8%). The company’s ICE business EBITDA margin improved to 17.7%, a 121 bps year-on-year increase, attributed to lower material costs, cost efficiencies, and mix improvement.

The strong performance was bolstered by a significant market share gain, expanding 3.7% year-on-year to 31.6% in October. This growth was spurred by timely GST reductions ahead of the festive season, leading to nearly 1 million retail sales by October 25. New product introductions, including the HF Deluxe Pro and Glamour X, contributed to segment expansion across Entry, Deluxe, Premium, Scooters, and EVs. The EV business achieved its highest-ever quarterly market share of 11.7%, driven by the success of Vida VX2.

Hero MotoCorp anticipates continued momentum, projecting the two-wheeler industry to grow 8% to 10% in the second half of FY26. The company also announced the appointment of Harshavardhan Chitale as the new chief executive officer, effective January 2026.