HMHero MotoCorp500182Quarterly results

Board approves Q2 FY'27 results; up to Rs. 300 Crore investment in wholly-owned overseas subsidiary

Q2 FY'27 results approved: consolidated revenue Rs. 14,971 Crore (up 23% YoY), PAT Rs. 1,861 Crore (up 41%).

By ScoutQuest · Wed 28 Oct 2026, 7:47 PM IST · 3 min read

Consolidated Revenue (Q2 FY'27)

Rs. 14,971 Crore (up 23% YoY)

Consolidated PAT (Q2 FY'27)

Rs. 1,861 Crore (up 41%)

Additional Investment Approved

Up to INR 300 Crore in HMCL Netherlands B.V.

Quarter and half-year results

• The Board approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with the limited review report.
• Consolidated revenue for the quarter was Rs. 14,971 Crore, compared with Rs. 12,218 Crore in Q2 FY'26, a growth of 23%.
• Consolidated PAT stood at Rs. 1,861 Crore, a 41% growth year-on-year.
• For H1 FY'27, consolidated revenue was Rs. 28,097 Crore and PAT Rs. 3,278 Crore, growth of 28% and 8% over H1 FY'26.
• The results include a Rs. 397 Crore gain from the equity consolidation of an associate company, following its capital raise through a Qualified Institutional Placement and Private Placement.

Standalone performance

• The Company sold 18.68 lakh motorcycles and scooters during the quarter, a growth of 10%.
• Revenue from operations was Rs. 14,687 Crore, up 21% over the corresponding quarter of the previous year.
• EBITDA was Rs. 1,968 Crore, up 8%, with EBITDA margin steady at 13.4%.
• PAT grew 5% year-on-year to Rs. 1,456 Crore.
• H1 FY'27: revenue from operations Rs. 27,686 Crore (up 28%), EBITDA Rs. 3,694 Crore (up 15%) at a margin of 13.3%, and PAT Rs. 2,911 Crore (up 16%).

Investment in overseas subsidiaries

• The Board approved an additional investment of up to INR 300 Crore in HMCL Netherlands B.V., a wholly-owned subsidiary of the Company, in one or more tranches.
• The purpose stated is further investment in its subsidiary companies, namely HMCL Colombia S.A.S and Hero MotoCorp Do Brasil Ltda.
• This is in the nature of funding routed through the Netherlands entity into the step-down subsidiaries in Colombia and Brazil.

Business highlights shared in the release

• The scooter portfolio grew 47% to 2.40 lakh units; ICE scooters Destini and Xoom grew 50% year-on-year with dispatches of 1.37 lakh units.
• VIDA recorded 76% year-on-year retail growth, reaching 66,531 units.
• The Parts, Accessories and Merchandising (PAM) business grew 27% year-on-year, with revenue of Rs. 1,941 Crore.
• Domestic ICE scooter dispatches grew 35% year-on-year, with market share expansion of 1% year-on-year to 7.3%.
• 100cc motorcycles market share expanded by 5% year-on-year to 84.4%.
• The global business entered Germany, its 54th global market, and launched the XPulse 200 4V and XPulse 200 4V Pro in Bangladesh.
• The Company said it announced a cumulative investment of over Rs. 3,200 Crore in Andhra Pradesh and laid the foundation stone of its second Global Parts Centre (GPC) in Tirupati.

Other disclosures in the release

• Anuj Dua was appointed Chief Business Officer - Premium Segment effective August 3, 2026; Srihari Mulgund was appointed Chief Strategy Officer effective August 17, 2026; and Suresh Kumar P was appointed Chief Digital & Information Officer (CDIO) effective August 31, 2026.
• The Harley-Davidson Business recorded 30% sequential growth and a 19% year-on-year increase in H1, and the Company said it surpassed 50,000 Harley-Davidson X440 and X440T riders on Indian roads in September 2026.

What a retail reader can take away: the update combines a quarterly result update with a Board approval to put more money into the overseas step-down subsidiaries. The investment amount, the revenue and profit figures, and the growth rates above are the numbers to track against future updates.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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