Hero MotoCorp quarterly results and financials

Hero MotoCorp (HEROMOTOCO)₹5,411−1.23%(9 Nov 2026 close)2/3 Wheelers

Key facts

In the Sep 2026 quarter (consolidated), Hero MotoCorp reported sales of ₹15,014 Cr, up 22.6% from Sep 2025, and net profit of ₹1,859 Cr, up 40.7% year on year. For the year to Mar 2026, sales were ₹47,537 Cr and net profit ₹5,776 Cr.

Sales (Sep 2026): ₹15,014 Cr
Net profit (Sep 2026): ₹1,859 Cr
Sales (FY Mar 2026): ₹47,537 Cr
Net profit (FY Mar 2026): ₹5,776 Cr
EPS (Sep 2026): ₹92.72
Borrowings (Mar 2026): ₹776 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

Hero MotoCorp quarterly results

₹ crore unless stated; each column is a quarter.

Hero MotoCorp Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	9,804	9,646	10,230	10,504	10,278	9,997	9,756	12,245	12,525	13,012	13,150	15,014
Expenses	8,378	8,264	8,767	9,003	8,809	8,498	8,286	10,419	10,697	11,079	11,379	12,930
Operating Profit	1,382	1,317	1,402	1,446	1,411	1,438	1,410	1,762	1,749	1,865	1,697	1,991
OPM %	14.1%	14.1%	14.1%	14.1%	14.1%	14.1%	15.1%	14.1%	14.1%	14.1%	13.1%	13.0%
Other Income	288	177	225	239	306	345	939	240	179	210	459	619
Interest	23.02	8.01	19.01	18.02	17.02	17.01	21.03	19.02	20.03	19.03	21.02	23.02
Depreciation	194	198	205	206	210	204	206	211	220	221	221	232
Profit before tax	1,458	1,293	1,408	1,465	1,498	1,568	2,127	1,780	1,693	1,844	1,923	2,364
Tax %	24.9%	26.9%	27.0%	26.9%	25.9%	24.9%	19.9%	26.0%	25.0%	20.0%	25.9%	20.9%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	−90.10	0.00	0.00	0.00
Net Profit	1,090	942	1,031	1,065	1,109	1,169	1,705	1,322	1,274	1,474	1,419	1,859
EPS (Rs)	54.56	46.65	52.22	53.05	55.27	57.91	85.08	65.24	63.23	72.78	70.36	92.72

Hero MotoCorp profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Hero MotoCorp Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	28,532	28,662	32,535	34,038	29,317	31,026	29,641	34,252	37,903	41,034	47,537	53,701
Expenses	23,933	23,951	27,039	28,857	25,092	26,824	26,188	29,972	32,420	35,009	40,243	46,085
Operating Profit	4,415	4,575	5,320	5,014	4,059	4,047	3,249	4,090	5,226	5,778	7,039	7,301
OPM %	16.1%	16.1%	16.1%	15.1%	14.1%	13.0%	11.1%	12.1%	14.1%	14.1%	15.1%	13.6%
Other Income	421	829	564	741	1,433	552	545	566	688	1,040	1,309	1,467
Interest	15.01	27.05	31.02	37.03	47.03	46.09	53.10	105	76.06	71.05	78.11	83.10
Depreciation	444	503	576	625	848	717	692	699	759	826	857	893
Profit before tax	4,389	4,893	5,295	5,107	4,616	3,852	3,059	3,866	5,092	5,945	7,449	7,824
Tax %	29.0%	26.9%	29.9%	31.9%	20.9%	23.9%	23.9%	27.9%	25.9%	25.9%	22.0%	—
Exceptional items	127	94.12	146	94.04	615	125	73.11	82.04	−28.03	198	−3.01	−90.10
Net Profit	3,110	3,543	3,722	3,465	3,659	2,935	2,328	2,800	3,740	4,375	5,776	6,026
EPS (Rs)	156.98	179.17	185.74	172.13	181.80	145.69	115.66	140.29	186.81	218.34	286.19	299.09
Dividend payout %	46.0%	47.0%	51.0%	50.0%	49.0%	72.0%	82.0%	71.1%	75.0%	75.0%	64.0%	—

Hero MotoCorp balance sheet

₹ crore, at each year end.

Hero MotoCorp Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	39.89	39.88	39.87	39.93	39.91	39.86	39.88	39.90	39.90	39.89	39.86	39.86
Reserves	6,499	8,796	10,282	11,936	13,095	14,373	15,388	15,817	16,632	17,660	19,229	21,574
Borrowings	99.64	231	260	227	311	451	582	603	566	604	698	776
Other Liabilities	4,033	3,847	4,754	5,222	5,085	4,826	7,112	6,056	6,714	7,878	8,452	11,087
Total Liabilities	10,672	12,915	15,335	17,425	18,531	19,690	23,121	22,515	23,950	26,183	28,418	33,476
Fixed Assets	2,961	3,793	4,615	4,976	4,970	6,488	6,398	6,210	6,177	6,249	6,297	6,393
CWIP	717	652	580	354	572	390	494	516	453	483	486	764
Investments	3,118	4,499	6,065	7,673	6,108	8,351	10,577	10,534	10,886	12,741	14,375	19,270
Other Assets	3,875	3,972	4,076	4,421	6,881	4,461	5,652	5,257	6,434	6,709	7,259	7,049
Inventories	859	761	707	961	1,247	1,279	1,787	1,470	1,753	1,753	2,010	2,645
Trade receivables	1,367	1,278	1,548	1,421	2,735	1,508	2,266	2,153	2,708	2,623	3,371	2,334
Cash & equivalents	215	178	194	237	303	434	395	299	422	693	572	764
Total Assets	10,672	12,915	15,335	17,425	18,531	19,690	23,121	22,515	23,950	26,183	28,418	33,476

Hero MotoCorp cash flow

₹ crore, for each year.

Hero MotoCorp Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	2,180	3,712	3,997	4,008	1,030	5,500	4,102	2,098	2,607	4,909	4,288	8,290
Cash from investing activity	30.93	−2,297	−1,968	−1,856	1,296	−2,812	−2,285	−221	−420	−1,824	−1,700	−4,471
Cash from financing activity	−2,131	−1,477	−2,038	−2,102	−2,253	−2,602	−1,853	−1,975	−2,149	−2,717	−2,818	−3,537
Net cash flow	86.03	−52.97	−0.99	56.95	78.03	96.98	−31.01	−93.99	44.97	379	−221	303
Capex	1,233	1,639	1,238	824	980	1,289	581	570	604	788	857	1,100
Free cash flow	953	2,091	2,765	3,191	56.95	4,225	3,534	1,542	2,050	4,141	3,459	7,219
CFO / OP %	90.1%	109.1%	113.1%	104.1%	62.1%	149.1%	125.1%	89.1%	85.1%	119.1%	101.1%	134.1%

Hero MotoCorp ratios

Working-capital days and returns, by year.

Hero MotoCorp Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	18	16	20	16	29	19	27	27	29	25	30	18
Inventory days	15	13	13	15	18	23	29	25	26	24	26	30
Days payable	50	51	62	56	54	58	88	76	73	80	77	88
Cash conversion cycle	−15	−19	−28	−23	−4	−14	−31	−22	−16	−29	−19	−39
Working capital days	−15	−12	−17	−15	6	−10	−21	−14	−7	−17	−11	−31
ROCE %	49.9%	54.0%	47.9%	44.9%	38.9%	26.9%	23.9%	18.0%	22.9%	28.9%	29.9%	34.9%

Hero MotoCorp: frequently asked questions

What are the latest quarterly results of Hero MotoCorp?

For the Sep 2026 quarter, Hero MotoCorp reported sales of ₹15,014 Cr, up 22.6% year on year and net profit of ₹1,859 Cr, up 40.7% year on year. The operating margin was 13.0%.

What is the annual revenue of Hero MotoCorp?

Hero MotoCorp's sales for the year to Mar 2026 were ₹47,537 Cr; over the last twelve months they were ₹53,701 Cr.

What is the net profit of Hero MotoCorp?

Net profit for the year to Mar 2026 was ₹5,776 Cr, and ₹6,026 Cr over the last twelve months. Earnings per share over the same trailing period were ₹299.09.

How much debt does Hero MotoCorp have?

Hero MotoCorp reported borrowings of ₹776 Cr at Mar 2026, against cash and equivalents of ₹764 Cr.

What is the free cash flow of Hero MotoCorp?

Cash from operations was ₹8,290 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹7,219 Cr.

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