| Revenue growth | 36% YoY growth in operations. |
|---|---|
| Margins | EBITDA margin at 13.3%; aim to neutralize inflation via mix/LEAP. |
| Order book | Nil channel inventory for VIDA; supply retailed immediately. |
| Demand visibility | Strong retail growth; July retail up 28% YoY. |
| Management confidence | High; citing market share gains in scooters and premium segments. |
Growth
Revenue grew 36% YoY, outstripping 23% volume growth. ICE business grew 21% while EV (VIDA) volumes surged 151% YoY.
Outlook
Medium-term EBITDA margin target set at 14%-16%. EV capacity tripling to 45,000 units/month by FY27 end.
Risks
Gross margins contracted 300 bps QoQ due to 4.5% commodity inflation and geopolitical conflicts in West Asia.
Last quarter's promises, checked
Delivered
- Guided capacity expansion → delivered EV volumes up 151% (= BEAT)
- Guided scooter share gains → delivered ICE scooters up 87% (= BEAT)
- Guided export expansion → delivered exports up 60% (= BEAT)
Partly delivered
- Guided inflation mitigation → delivered 4.5% price hike vs 300bps margin drop (= PARTIAL)
Missed
- Guided 14%-16% margin maintenance → delivered 13.3% (= MISS)
Earnings Call Transcript filed with BSE, NSE: HEROMOTOCO. Summary written with AI assistance from the document.
Hero MotoCorp Ltd: key numbers
- Share price
- ₹5,004.00
- Market cap
- ₹1,00,151 Cr
- Revenue (annual)
- ₹47,411 Cr
- Net profit (annual)
- ₹5,742 Cr
- P/E (TTM)
- 18.4×Sector 32.1×
- Promoter holding
- 34.73%+0.00% QoQ
- FII holding
- 31.09%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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- Value
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