Hero MotoCorp Ltd.

NSE: HEROMOTOCO · 2/3 Wheelers

52W Range₹4,201 ₹6,389

Snapshot

Unlock Hero MotoCorp Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Hero MotoCorp Limited is a leading manufacturer of motorized two-wheelers, including motorcycles and scooters, along with spare parts and accessories. The company operates globally across Asia, Latin America, Africa, and the Middle East.

Business Model

The company generates revenue primarily through the sale of two-wheeler vehicles and associated spare parts. It leverages an extensive distribution network and is currently expanding into the electric mobility segment through strategic partnerships.

Growth Outlook

Growth is expected to be driven by the transition toward sustainable electric mobility, supported by a strategic partnership with Gogoro Inc. to enhance the company's electric vehicle ecosystem in India.

Key Risks

  • Commodity Price Volatility. Fluctuations in the prices of raw materials like steel, aluminium, and precious metals can significantly impact manufacturing margins.
  • Intense Market Competition. The two-wheeler segment in India faces aggressive competition from both established domestic players and new entrants in the electric vehicle space.
  • Regulatory and Environmental Shifts. Stricter emission norms and government policies regarding internal combustion engines may necessitate rapid and costly technological transitions.
  • Geopolitical and Currency Risks. As an exporter to emerging markets in Africa and Latin America, the company is exposed to currency fluctuations and regional political instability.

Price

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Key Metrics

REVENUE

₹47,411 Cr

TTM · consolidated

+15.9%YoY

NET PROFIT

₹5,776 Cr

TTM · consolidated

+32.0%YoY

EPS

₹287.01

TTM · consolidated

+31.1%YoY

RETURN ON EQUITY

29.1%

TTM · consolidated

+4.9 ppYoY

RETURN ON CAPITAL EMPLOYED

33.0%

TTM · consolidated

+1.5 ppYoY

P/E

17.1x

Q4 FY26 · consolidated

17.1 vs 28.3x5Y avg

EV/EBITDA

12.1x

Q4 FY26 · consolidated

12.1 vs 17.8x5Y avg

EBITDA MARGIN

17.1%

TTM · consolidated

+0.0 ppYoY

NET PROFIT MARGIN

11.4%

Q4 FY26 · consolidated

-0.3 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.00xYoY

Peers · 2/3 Wheelers

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Hero MotoCorp Ltd.HEROMOTOCO
1,05,87017.0712.0715.9%17.1%29.1%33.0%+10.7%
Eicher Motors Ltd.EICHERMOT
1,89,85236.8928.0224.0%31.1%24.8%26.6%+31.8%
TVS Motor Company Ltd.TVSMOTOR
1,65,19256.0923.4126.3%15.0%36.3%28.7%+23.0%
Ather Energy Ltd.ATHERENERG
28,945-147.34-864.62-1.5%-31.3%-15.4%+272.8%
Ola Electric Mobility Ltd.OLAELEC
10,3659.616.85-50.1%127.5%39.0%31.8%-5.7%
Zelio E-MobilityZELIO
73611.0%

As of Q4 FY26

Financials