Hero MotoCorp Q4 Results 2026 LIVE: Net profit up 30% to ₹1,401 cr, beats estimates, declares final dividend of ₹75

Along with the financial results, Hero MotoCorp also announced a final dividend of ₹75 per equity share for FY26, subject to the approval of shareholders at the ensuing 43rd Annual General Meeting (AGM).

The company said the dividend payment will be completed within 30 days from the date of declaration at the 43rd AGM.

Including the interim dividend of ₹110 per share already paid during the year, the total dividend for FY2025–26 stands at ₹185 per equity share, representing a payout of 9,250%.

The company announced its March-quarter results today after market hours, reporting a net profit of ₹1,401 crore, ahead of analysts’ estimates.

It had posted a net profit of ₹1,169 crore in the corresponding quarter last year, reflecting a year-on-year growth of 30%.

Revenue from operations stood at ₹12,797 crore, up 29% from ₹9,939 crore in the year-ago quarter, driven by strong domestic sales along with healthy export growth.

The consolidated revenue for the year stood at ₹47,411 crore, representing a 16% year-on-year growth, while net profit was ₹5,776 crore, up 32% over the previous year.

The company's performance was anchored by consistent gains in the core ICE business as its market share across key segments.

Growth was broad-based across 100cc - 125cc, scooters and premium motorcycle segments, powered by a series of well-received product refreshes and the Company's highest-ever festive season.

Brokerage firm Axis Securities expects Hero MotoCorp to report a healthy set of numbers for the March quarter, supported by strong domestic demand, improved exports and a better product mix.

The brokerage projects revenue from operations to increase 25.4% year-on-year to ₹12,462 crore in Q4FY26 from ₹9,939 crore reported in Q4FY25. On a sequential basis, revenue is expected to rise 1.1%.

Net profit after tax is also expected to post a strong growth of 33.1% year-on-year at ₹1,438 crore, as against ₹1,081 crore in Q4FY25, while earnings per share are projected at ₹72.

Axis Securities said the expected improvement in Hero MotoCorp’s March quarter performance is likely to be driven by robust volume growth, healthy export traction and improved product realisations.

In Q3, the company reported a 15% increase in consolidated profit after tax at ₹1,275 crore, aided by robust sales across domestic and export markets. It posted its highest-ever quarterly revenue of ₹12,487 crore in the third quarter, compared with ₹10,260 crore in the year-ago period.

The company sold 16.97 lakh units of motorcycles and scooters in Q3, as against 14.64 lakh units in the same period of the previous fiscal, marking a growth of 16%.

Hero MotoCorp's PAT is estimated to grow by 32.5% YoY due to higher other income, said PL Capital as it sees a 32.5% increase YoY to ₹1432 crore.

PL Capital estimates volume/realization CAGR of 6.4%/4.5% over FY25-28E, translating into revenue/EBITDA/PAT CAGR of 11.3%/11.8%/10.9%. It has an ‘Accumulate’ rating with TP of INR6,000 (previous INR6,300) valuing the stock at P/E of 18x (previous 20x) FY28E EPS and value its stake in Hero Fincorp at INR47 and in Ather Energy at INR300.

PL Capital said that entry-level motorcycle industry has seen revival with HMCL gaining market share, although the premium portfolio hasn’t yet reaped the benefits of GST2.0 rate rationalization. Retail market share saw a surge during Sep-Oct’25 festivities. Since then, it has seen a dip on YoY basis, but has been recovering along with YoY reduction in inventory. Below-normal monsoons can dampen rural sentiments and impact its motorcycle sales. Scooters and overall exports keep surging, albeit on a lower base.

Despite price hikes, Motilal Oswal expects input cost inflation, especially at 4Q end, to dent margins. Accordingly, the brokerage has factored in margins to decline 40bp QoQ to 14.3%. Overall, PAT is expected to grow 26% YoY in 4Q, largely led by healthy volume growth.

Hero MotoCorp has declared 44 dividends since July 17, 2001. In the past 12 months, Hero MotoCorp has declared an equity dividend amounting to ₹175 per share, shows Trendlyne data. At the current share price of ₹5109, Hero MotoCorp's dividend yield is 3.43%.

Hero MotoCorp has taken two rounds of price hikes – avg of ₹300/unit in Jan and avg of ₹700/unit in Feb to pass on input costs. This is apart from the ~ ₹10k price hike taken in Dec’25.

Hero MotoCorp shares end 1.25% higher at ₹5,130 apiece ahead of the March quarter results announcement. The two-wheeler major is set to announce a robust set of numbers, as per brokerage estimates. Revenue and PAT could grow in double digits on a YoY basis.

EBITDA margins are expected to increase by ~53 bps YoY and 9 bps QoQ, supported by a richer product mix and ongoing cost control efforts, partly offset by higher raw material costs, said Axis Securities.

In the electric two-wheeler segment, retail sales surged 62.1 per cent year-on-year to around 148,000 units. TVS Motor led the segment with a market share of 25.3 per cent, followed by Bajaj Auto and Ather Energy. Hero MotoCorp and Ola Electric were ranked fourth and fifth respectively.

Axis Securities said that revenue is expected to increase by ~25.4% YoY, driven by a 24% growth in volumes, supported by strong domestic demand, higher exports and an improved product mix.

KIE expects EBITDA margin to increase by 20 bps yoy to 14.4% due to operating leverage benefits partly offset by commodity headwinds. Meanwhile, EBITDA could grow 26.1% as per its estimates.

Kotak Institutional Equities said that it expects revenues to increase by 24% YoY in 4QFY26, led by (1) 24% YoY increase in volumes driven by strong retail momentum and (2) flat yoy growth in ASPs.

EBITDA margins are expected to improve 20 YoY (-30bps QoQ) due to positive operating leverage offset by commodity inflation and EV losses, said Ambit Capital. It pegs Q4FY26 margins at 14.4%. As for PAT, it sees a 26.9% YoY growth to ₹1372.2 crore.

Shares of Hero MotoCorp traded on a flattish note ahead of the Q4 results announcement. The stock opened at ₹5,077.10 and touched a high and low of ₹5,088 and ₹5,018, respectively. It had closed at ₹5,066.80 in the last session.

Ambit Capital said that Hero MotoCorp's volume grew 24.2% YoY and 1% QoQ), tracking continued GST momentum and export market expansion. Meanwhile, realizations are expected

to improve 1.8% YoY (0.8% QoQ) tracking stable mix. Against this backdrop, it sees a revenue growth of 26.4% YoY and 1.9% QoQ.

Hero MotoCorp said that a meeting of the Board of Directors is scheduled to be held on Tuesday, May 5, 2026, inter alia, to consider and approve the audited Standalone and Consolidated Financial Results for the quarter and financial year ended March 31, 2026.

It added that the Board may also consider declaration of final dividend, if any, for the financial year 2025-26.