Interim report
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it Hero Hero MotoCorp Ltd. Regd. Office: The Grand Plaza, Plot No.2, Nelson Mandela Road, Vasant Kunj - Phase -II, New Delhi - 110070, India Tel. +91-11-46044220, Fax +91-11-46044399 1 Email: corporate.communicationfteromotocorp.com 1 www.heromotocorp.com CIN: L35911 DL1904PLC017354 August 6, 2026 Asst. Vice President, Listing Deptt., National Stock Exchange of India Ltd. Exchange Plaza, Plot C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 Scrip Code: HEROMOTOCO The Secretary, BSE Limited 25th Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Scrip Code: 500182 Subject: Compliance under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Re.: Outcome of Board Meeting held on August 06, 2026 Dear Sir / Madam, Please note that the following matters were considered and approved at the Board Meeting held today i.e. August 6, 2026: 1. The unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. A copy of the said results along with the limited review report, is enclosed. A press release issued in this regard, is also enclosed. 2. Setting-up of a company under Section 8 of the Companies Act, 2013, to undertake Corporate Social Responsibility initiatives. Relevant disclosure under Listing Regulations is enclosed as Annexure-A. The meeting of the Board of Directors commenced at 03:00 p.m. and concluded at 07:45 p.m. Kindly take the aforesaid information on your records. Thanking you, For Hero MotoCorp Limited, Prabhat Singh Company Secretary & Compliance Officer Encl.: As above
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Deloitte Haskins & Sells LLP Chartered Accountants 7th Floor Building 10 Tower B DLF Cyber City Complex DLF City Phase II Gurugram-122 002 Haryana, India Tel: +91 124 679 2000 Fax: +91 124 679 2012 INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS TO THE BOARD OF DIRECTORS OF HERO MOTOCORP LIMITED 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of Hero MotoCorp Limited ("the Company"), for the quarter ended June 30, 2026 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Fir tration No. 117366W/W-100018) skin .® Place: New Delhi Date: August 06, 2026 snared A untants t1 clt Vijay Agarwal Partner (Membership No. 094468) UDIN: 2.‘o s.Cy 1 2.1 asc rKuN 62_18, Regd. Office: One International Center, Tower 3, 31st floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737
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Ii. HERO MOTOCORP LIMITED Statement of Standalone Un-audited Financial Results for the quarter ended June 30, 2026 Particulars Quarter ended Year ended June 30, 2026 March 31, 2026 June 30, 2025 March 31, 2026 Un-audited Un-audited Un-audited refer note 9 Audited 1 No. of Two wheelers sold (In Lakhs) 16.77 17.14 13.67 64.69 2 Income (a) Revenue from operations (b) Other income 12,998.82 440.89 12,796.53 208.63 9,578.86 303.67 46,830.14 1,041.01 Total income 13,439.71 13,005.16 9,882.53 47,871.15 3 Expenses [a] Cost of raw materials consumed [b] Purchase of stock-in-trade [c] Changes in inventories of finished goods, stock-in-trade and work-in-progress [d] Employee benefits expense [e] Finance costs [f] Depreciation and amortisation expense [g] Other expenses 9,222.18 222.32 (154.78) 699.11 6.28 205.31 1,283.43 8,349.31 212.37 203.88 681.39 5.54 203.86 1,494.02 6,295.15 147.55 (52.32) 626.01 5.61 192.77 1,180.76 30,844.41 796.53 (78.01) 2,710.50 22.76 798.00 5,685.95 Total expenses 11,483.85 11,150.37 8,395.53 40,780.14 4 Profit before exceptional item and tax (2-3) 1,955.86 1,854.79 1,487.00 7,091.01 5 Exceptional item Expenses towards -New Labour Code (Refer note 8) - - - 119.00 6 Profit before tax (4-5) 1,955.86 1,854.79 1,487.00 6,972.01 7 Tax expense Current tax Deferred tax charge/(credit) 475.37 26.01 466.59 (12.93) 336.32 24.98 1,630.25 73.55 Total tax expense 501.38 453.66 361.30 1,703.80 8 Profit after tax (6-7) 1,454.48 1,401.13 1,125.70 5,268.21 9 Other comprehensive income /(loss) Items that will not be reclassified subsequently to profit or loss: [a] Re-measurement of defined benefit plans [b] Income tax effect (5.37) 1.35 1.14 (0.28) (4.42) 1.11 (21.36) 5.38 Total Other comprehensive income /(loss), net of tax (4.02) 0.86 (3.31) (15.98) 10 Total comprehensive income, net of tax (8+9) 1,450.46 1,401.99 1,122.39 5,252.23 11 Paid-up equity share capital Face value of the share (In Rupees) 40.02 2.00 40.02 2.00 40.00 2.00 40.02 2.00 12 Other equity 21,538.07 13 Earnings per equity share on profit after tax (face value Rs. 2/- each) [In Rupees]* Basic 72.69 70.04 56.28 263.34 Diluted 72.63 69.96 56.22 263.07 * Basic and Diluted earnings per share (EPS) for all periods except year ended March 31, 2026 are not annualised. Hero MotoCorp Ltd. Regd. Office: The Grand Plaza, Plot No.2, Nelson Mandela Road, Vasant Kunj - Phase -II, New Delhi - 110070, India Tel. +91-11-46044220, Fax +91-11-46044399 I Email: corporate.communication@heromotocorp.com I www.heromotocorp.com I CIN: L35911 DL1984PLC017354
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Hero 1 The above un-audited standalone financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of Companies Act, 2013, read together with the Companies (Indian Accounting Standard) Rules, 2015 (as amended). 2 The above un-audited standalone financial results for the quarter ended June 30, 2026 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meetings held on August 06, 2026. 3 On May 05, 2026, the Board of Directors had considered and approved final dividend 3750% i.e. Rs.75 per equity share (face value of Rs.2 per equity share) for the financial year 2025-26. This dividend together with interim dividend g5500% i.e. Rs.1 10 per equity share, takes the aggregate total dividend for the financial year 2025-26 to Rs.185 per equity share i.e. 9250% has been approved by the shareholders in the Annual General Meeting held on Auaust 05. 2026. 4 During the quarter ended June 30, 2026, 3,161 equity shares of Rs. 2 each were issued and allotted under the Employee Incentive Scheme - 2014. 5 During the year ended March 31, 2026, the Company made the following investment: Rs. In crores Name of the Company Nature Quarter ended June 30, 2026 Year ended March 31, 2026 Euler Motors Private Limited Associate - 720.00 Total 720.00 6 Based on the guiding principles given in Ind AS-108 on 'Operating Segments', the Company's business activity fall within a single operating segment, namely automotive segment. 7 The Ministry of Environment, Forest and Climate Change issued the Environment Protection (End-of-Life Vehicles) Rules, 2025 (ELV rules), effective from April 01, 2025. In accordance with ELV rules, Extended Producer Responsibility (EPR) obligations are imposed on producers ("vehicle manufacturers") for the scrapping of End-of-Life Vehicles. The obligations require acquiring EPR certificates from registered Vehicle Scrapping Facilities via a Centralised Online Portal (Portal), which is partially operational. However, the pricing mechanism for EPR certificates, and measurement framework for determining financial obligations are not yet made available. Further, the Ministry of Environment, Forest and Climate Change notified the Battery Waste Management Rules, 2022 on February 24, 2025 (as amended from time to time), applicable to producers (manufacturers and importers included), dealers, consumers, and entities involved in the collection, segregation, transportation, refurbishment, and recycling of all types of waste batteries. As a producer of batteries, the Company is subject to these obligations, however, sufficient guidance on waste collection mechanisms and associated costs are not yet made available. Consequently, the Company is currently unable to reliably estimate a range of possible outcomes and the financial implications of the above rules and will be evaluated once the implementation framework for determining the reliable estimate is established. 8 On November 21 , 2025, the Government of India notified the four Labour codes - The code on Wages, 2019, The Industrial Relations code, The code on Social Security, 2020, and The Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing Labour Laws. Based on the rules and FAQs issued by the ministry of labour and employment and best available information, the Company has estimated the financial implications thereof and has made an additional provision of Rs.1 19 crores in the year ended March 31 , 2026. Considering the materiality, regulatory driven and non - recurring nature of the impact, the company has presented such incremental impact under "Exceptional item". 9 The figures for the quarter ended March 31, 2026 are the balancing figures between the audited figures for the year ended March 31, 2026 and published results figures upto nine months ended December 31, 2025 which were subjected to limited review. Previous period/year figures have been regrouped/ reclassified wherever necessary. 10 The above standalone financial results of the Company are available on the Company's website www.heromotocorp.com and also on www.bseindia.com and www.nseindia.com. For and on behalf of the Board of Directors \ V New Delhi August 06, 2026 DR. PAWAN MUNJAL Executive Chairman DIN : 00004223 Hero MotoCorp Ltd. Regd. Office: The Grand Plaza, Plot No.2, Nelson Mandela Road, Vasant Kunj - Phase -II, New Delhi - 110070, India Tel. +91-11-46044220, Fax +91-11-46044399 I Email: corporate.communication@heromotocorp.com I www.heromotocorp.com I CIN: L35911 DL1984PLC017354
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Deloitte Haskins & Sells LLP Chartered Accountants 7th Floor Building 10 Tower B DLF Cyber City Complex DLF City Phase II Gurugram-122 002 Haryana, India Tel: +91 124 679 20O0 Fax: +91 124 679 2012 INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS TO THE BOARD OF DIRECTORS OF HERO MOTOCORP LIMITED 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Hero MotoCorp Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net profit/(loss) after tax and total comprehensive income/(loss) of its associates for the quarter ended June 30, 2026 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. 4. The Statement includes the results of the following entities: Hero MotoCorp Limited - the Parent Subsidiaries a. HMC MM Auto Limited b. HMCL Americas Inc c. HMCL Netherlands B.V. d. HMCL Colombia S.A.S e. HMCL Niloy Bangladesh Limited f. Hero Tech Center Germany GmbH g. Hero MotoCorp Do Brasil LTDA Associates a. Hero FinCorp Limited (Consolidated) b. Ather Energy Limited (Consolidated) c. Euler Motors Private Limited (Consolidated) 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the co the review reports of the other auditors and joint auditor referred to in paragraph 6 below, ,e .skins Chartered Accountants 0 0 co Regd. Office: One nation Pe.- ter, Tower 3, 31st floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737
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Charts o Slp;in: Accoun ta ts ti Deloitte Haskins & Sells LLP 6. nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 7. a) We did not review the interim financial information of five subsidiaries included in the consolidated unaudited financial results, whose interim financial information reflect total revenues of Rs. 643.02 crores for the quarter ended June 30, 2026, total net profit after tax of Rs. 13.27 crores for the quarter ended June 30, 2026, total comprehensive Income of Rs. 13.27 for the quarter ended June 30, 2026, as considered in the Statement. The consolidated unaudited financial results also includes the Group's share of loss after tax of Rs. 42.38 crores for the quarter ended June 30, 2026, and total comprehensive loss of Rs. 42.38 crores for quarter ended June 30, 2026, as considered in the Statement, in respect of one associate, whose consolidated interim financial information have been reviewed by other auditor. These interim financial information of subsidiaries and associate have been reviewed by other auditors whose reports have been furnished to us by the Management, and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associate, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. b) The consolidated unaudited financial results also includes the Group's share of profit after tax of Rs. 12.40 crores for the quarter ended June 30, 2026, and total comprehensive income of Rs. 2.37 crores for the quarter ended June 30, 2026, in respect of one associate, as considered in the Statement. These interim financial results of the associate have been jointly reviewed by us along with a joint auditor whose reports have been furnished to us by the Management, and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included respect of this associate, is based solely on the reports of the joint auditor and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of this matter. 8. Certain of these subsidiaries are located outside India whose financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors under generally accepted auditing standards applicable in their respective countries. The Parent's management has converted the interim financial information of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Parent's management. Our opinion in so far as it relates to the balances and affairs of such subsidiaries located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Parent and reviewed by us. Our conclusion on the Statement is not modified in respect of this matter. For DELOITTE HASKINS & SELLS LLP Chartered Accountants Firm's Registration No. 117366W/W-100018) rst, ay Agarwal Partner (Membership No. 094468) UDIN: 2_6 Cs erq P3f_ Place: New Delhi Date: August 06, 2026
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It Hero HERO MOTOCORP LIMITED Statement of Consolidated Un-audited Financial Results for the quarter ended June 30, 2026 (Rupees in crore unless otherwise stated) Particulars Quarter ended Year ended June 30, 2026 March 31, 2026 June 30, 2025 March 31, 2026 Un-audited Un-audited refer note 9 Un-audited Audited 1 Income (a) Revenue from operations 13,126.35 12,978.28 9,727.75 47,411.24 (b) Other income 459.74 210.04 309.94 1,058.13 Total income 13,586.09 13,188.32 10,037.69 48,469.37 2 Expenses [a] Cost of raw materials consumed 9,314.79 8,512.82 6,352.94 31,186.16 [b] Purchase of stock -in-trade 222.32 212.37 147.55 796.53 [c] Changes in inventories of finished goods, stock -in-trade and work -in-progress (261.49) 111.11 (52.65) (303.32) [d] Employee benefits expense 758.44 701.31 649.07 2,829.47 [e] Finance costs 21.41 18.72 20.66 78.27 [1] Depreciation and amortisation expense 219.83 220.50 205.61 854.99 [g] Other expenses 1,346.18 1,518.70 1,217.94 5,857.27 Total expenses 11,621.48 11,295.53 8,541.12 41,299.37 3 Profit before share of profit/(loss) of associates, exceptional item and tax (1-2) 1,964.61 1,892.79 1,496.57 7,170.00 4 Profit/(loss) from associates Share in net profit/(loss) of associates (Refer note 10) (43.89) (52.27) 629.44 384.58 5 Profit before exceptional item and tax (3+4) 1,920.72 1,840.52 2,126.01 7,554.58 6 Exceptional item Expenses towards -New Labour Code (Refer note 8) - 119.00 7 Profit before tax (5-6) 1,920.72 1,840.52 2,126.01 7,435.58 8 Tax expense Current tax 462.72 468.18 338.62 1,638.11 Deferred tax charge/(credit) 40.07 (101.58) 81.74 21.77 Total tax expense 502.79 366.60 420.36 1,659.88 9 Profit after tax (7-8) 1,417.93 1,473.92 1,705.65 5,775.70 10 Other comprehensive income /(loss) i. Items that will not be reclassified subsequently to profit or loss: [a] Re-measurement of defined benefit plans (5.38) 1.30 (4.42) (21.42) [bj Income tax effect 1.35 (0.28) 1.11 5.38 [c] Share of Other comprehensive income of associates ii. Items that will be reclassified subsequently to profit or loss: 0.67 0.19 0.46 (0.08) [a] Exchange differences in translating the financial information of foreign operations 8.95 27.39 5.17 55.04 [b] Income tax effect (2.25) (6.89) (1.30) (13.85) [c] Share of Other comprehensive income of associates (10.70) 36.98 (12.54) 31.54 Total Other comprehensive income/(loss), net of tax (7.36) 58.69 (11.52) 56.61 11 (Total comprehensive income, net of tax (9+10) 1,410.57 1,532.611 1,694.13 5,832.31 12 Net Profit/(loss) attributable to a) Owners of the Company 1,412.36 1,460.00 1,705.29 5,741.73 b) Non-controlling interest 5.57 13.92 0.36 33.97 13 Other comprehensive income/(loss) attributable to a) Owners of the Company (10.39) 51.33 (11.34) 43.90 b) Non-controlling interest 3.02 7.36 (0.18) 12.71 14 Total comprehensive income/(loss) attributable to a) Owners of the Company 1,401.97 1,511.33 1,693.95 5,785.63 b) Non-controlling interest 8.59 21.28 0.18 46.68 15 Paid -up equity share capital 40.02 40.02 40.00 40.02 Face value of the share (In Rupees ) 2.00 2.00 2.00 2.00 16 Other equity 21,571.17 17 Earning per equity share on profit after tax (face value Rs. 2/- each) [In Rupees]' Basic 70.59 72.98 85.26 287.01 Diluted 70.53 72.91 85.17 286.72 Basic and Diluted earnings per share (EPS) for all periods except year ended March 31, 2026 are not annualised. \i 7 Hero MotoCorp Ltd. Regd. Office: The Grand Plaza, Plot No.2, Nelson Mandela Road, Vasant Kunj - Phase -II, New Delhi - 110070, India Tel. +91-11-46044220, Fax +91-11-46044399 I Email: corporate.communication@heromotocorp.com I www.heromotocorp.com I CIN: L35911 DL1984PLC017354
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Hero 1 The above un-audited consolidated financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of Companies Act, 2013, read together with the Companies (Indian Accounting Standard) Rules, 2015 (as amended). 2 The above un-audited consolidated financial results for the quarter ended June 30, 2026 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meetings held on August 06, 2026. 3 On May 05, 2026, the Board of Directors had considered and approved final dividend :CI' 3750% i.e. Rs.75 per equity share (face value of Rs.2 per equity share) for the financial year 2025-26. This dividend together with interim dividend (4,5500% i.e. Rs.1 10 per equity share, takes the aggregate total dividend for the financial year 2025-26 to Rs.185 per equity share i.e. 9250%, has been approved by the shareholders in the Annual General Meeting held on August 05, 2026. 4 During the quarter ended June 30, 2026 , 3,161 equity shares of Rs. 2 each were issued and allotted under the Employee Incentive Scheme - 2014. 5 Particulars of subsidiaries and associates in the group as on June 30, 2026: a) Subsidiaries (held directly) - HMCL Netherlands B.V., HMC MM Auto Limited, HMCL Americas Inc., Hero Tech Center Germany GmbH b) Subsidiaries (held indirectly) - HMCL Colombia S.A.S., Hero MotoCorp Do Brasil LTDA, HMCL Niloy Bangladesh Limited (subsidiaries of HMCL Netherlands B.V.) c) Associates - Hero FinCorp Limited (Consolidated), Ather Energy Limited (Consolidated) and Euler Motors Private Limited (Consolidated). 6 During the year ended March 31, 2026, the Company made the following investment: Rs. in crores Name of the Company Nature Quarter ended June 30, 2026 Year ended March 31, 2026 Euler Motors Private Limited Associate - 720.00 Total - 720.00 7 The Ministry of Environment, Forest and Climate Change issued the Environment Protection (End-of-Life Vehicles) Rules, 2025 (ELV rules), effective from April 01, 2025. In accordance with ELV rules, Extended Producer Responsibility (EPR) obligations are imposed on producers ("vehicle manufacturers") for the scrapping of End-of-Life Vehicles. The obligations require acquiring EPR certificates from registered Vehicle Scrapping Facilities via a Centralised Online Portal (Portal), which is partially operational. However, the pricing mechanism for EPR certificates, and measurement framework for determining financial obligations are not yet made available. Further, the Ministry of Environment, Forest and Climate Change notified the Battery Waste Management Rules, 2022 on February 24, 2025 (as amended from time to time), applicable to producers (manufacturers and importers included), dealers, consumers, and entities involved in the collection, segregation, transportation, refurbishment, and recycling of all types of waste batteries. As a producer of batteries, the group is subject to these obligations, however, sufficient guidance on waste collection mechanisms and associated costs are not yet made available. Consequently, the group is currently unable to reliably estimate a range of possible outcomes and the financial implications of the above rules and will be evaluated once the implementation framework for determining the reliable estimate is established. 8 On November 21, 2025, the Government of India notified the four Labour codes - The code on Wages, 2019, The Industrial Relations code, The code on Social Security, 2020, and The Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing Labour Laws. Based on the rules and FAQs issued by the ministry of labour and employment and best available information, the Group has estimated the financial implications thereof and has made an additional provision of Rs.l 19 crores in the year ended March 31 , 2026. Considering the materiality, regulatory driven and non - recurring nature of the impact, the Group has presented such incremental impact under "Exceptional item". 9 The figures for the quarter ended March 31, 2026 are the balancing figures between the audited figures for the year ended March 31, 2026 and published results figures upto nine months ended December 31, 2025 which were subjected to limited review. Previous period/year figures have been regrouped/ reclassified wherever necessary. 10 During the quarter ended June 30, 2025 and year ended March 31, 2026, share in net profit/ (loss) of associates included gain of Rs. 735.81 crores on dilution of the Company's share of investment in associates on account of Public Issue and Private Placement. 11 Based on the guiding principles given in Ind AS-108 on 'Operating Segments', the Group's business activity fall within a single operating segment, namely automotive segment. 12 The above consolidated financial results of the Group are available on the Company's website www.heromotocorp.com and also on www.bseindia.com and www.nseindia.com. For and on behalf of the Board of. Directors New Delhi August 06, 2026 DR. PAWAN MUNJAL Executive Chairman DIN : 00004223 Hero Mot I Corp Ltd. Regd. Office: The Grand Plaza, Plot No.2, Nelson Mandela Road, Vasant Kunj - Phase -II, New Delhi - 110070, India Tel. +91-11-46044220, Fax +91-11-46044399 I Email: corporate.communication@heromotocorp.com I www.heromotocorp.com I CIN: L35911 DL1984PLC017354
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i ; Hero Press Release New Delhi, August 6, 2026 HERO MOTOCORP ACCELERATES INTO FY'27 WITH 36% REVENUE GROWTH & 29% PROFIT AFTER TAX GROWTH Q1 FY’27 REVENUE OF RS. 12,999 CRORE PROFIT AFTER TAX (PAT) OF RS.1,454 CRORE Highlights for Q1 FY’27 (Apr’26‐Jun’26) Standalone Highlights for Q1 FY’27 (Apr’26‐Jun’26) Consolidated Volume – 16.77 lakh units of motorcycles and scooters sold in Q1 FY’27 (vs 13.67 lakh units Q1 FY’26); 23% strong growth. Revenue from operations – Rs.12,999 Crore (vs Rs. 9,579 Crore), growth of 36% over the corresponding quarter in the previous fiscal. Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for Q1 FY’27 stands at Rs.1,727 Crore (vs Rs. 1,382 Crore previous year), growth of 25%. Net Profit After Tax (PAT) – Rs.1,454 Crore, growth of 29%. Revenue from operations - Rs.13,126 Crore (vs Rs.9,728 Crore), growth of 35% over the corresponding quarter in the previous fiscal. Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for Q1 FY’27 stands at Rs.1,7 46 Crore, (vs Rs. 1,413 Crore), growth of 24% Profit before tax (PBT) - Rs.1,921 Crore. Net Profit After Tax (PAT) – Rs.1,418 Crore. Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, today announced its financial results for the first quarter (April –June 2026) of FY'27, delivering st rong performance across its premium, scooter, electric mobility, global business and commuter segments. The Company delivered robust financial performance with revenue growth of 36% and volume growth of 23%, reflecting sustained momentum across its key business segments. Revenue from Operations for the quarter stood at Rs. 12,999 Crore, against Rs. 9,579 Crore in the corresponding quarter of the previous ye ar. EBITDA stood at Rs. 1,727 Crore and EBITDA margin was to 13.3%, Profit After Tax stood at Rs. 1,454 Crore, reflecting a growth of 29% over Rs. 1,126 Crore reported in the corresponding quarter of the previous fiscal.
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i ; Hero Press Release Consolidated Revenue for the quarter stood at Rs.13,126 Crore, representing a 35% year-on-year growth, while Profit After Tax (PAT) was Rs.1,418 Crore against Rs. 1,706 Crore in the previous year. The previous year PAT included a onetime gain of Rs.722 Crore on account of dilution of the Company’s share of investment in associates consequent to Public Issue and Private Placement. During the quarter, the Company sold 16.77 lakh motorcycles and scooters, registering a robust 23% year-on-year growth over the correspondin g quarter of the previous year, underscoring sustained consumer demand across markets. Revenue from the Company's Parts, Accessories, and Merchandising (PAM) business stood at Rs. 1,689 Crore - a growth of 30% over previous year. Commenting on the performance, Harshavardhan Chitale, Chief Executive Officer, Hero MotoCorp said, "We have commenced FY'27 with strong momentum, delivering br oad-based growth across our premium, electric mobility , commuter segments and global business. This performance reflects the strength and diversity of our portfolio, disciplined execution across the organisation , and our relentless focus on delivering superior value to our customers." He furthe r added, "Our growth strategy is centere d on building a future -ready mobility company by accelerating premiumisa tion, scaling our electric mobility business, expanding our global footprint while retaining our leadership in the commuter segment. Supported by continued investments in technology, innovation, manufacturing, and enhanced customer experience, we remain well positioned to deliver sustainable & profitable growth." As part of its commitment to sustainable innovation, the Company introduced flex -fuel variants of the iconic Splendor+ and HF Deluxe. The launch reinforces Hero MotoCorp's commitment to cleaner mobility while supporting the Government of India's vision of Atmanirbhar Bharat, Viksit Bharat and long-term energy security, while advancing the transition towards a more sustainable future. VIDA, Hero MotoCorp’s Emerging Mobility Business, continued its strong growth trajectory during Q1 FY’27, recording 151% year -on-year growth . An expanding portfolio and growing retail footprint further strengthened VIDA’s presence in the electric two-wheeler segment. The Company’s Global Business sustained its strong growth momentum during Q1 FY’27, registering an impressive 63% year -on-year growth. The performance was driven by sustained demand for an expanding premium product portfolio and strengthening its presence across international markets. The Harley-Davidson Business also delivered exceptional 105% year-on-year growth in Q1 FY’27 over the same period last year. The Company continued to strengthen the Harley-Davidson retail ecosystem, expanding the network to 21 full-line dealerships nationwide. These dealerships offer a premium portfolio comprising globally sourced Completely Built Unit (CBU) models along with locally manufactured X440 and X440 T, further enhancing accessibility for customers across India.
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i ; Hero Press Release Highlights | Q1 FY’27 (April 2026 – June 2026) Business • Growth was broad -based across the Entry, Deluxe, Premium and Scooter segments, spanning both ICE and electric portfolios . S cooter dispatches more than doubled to 1,93,058 units during the quarter. • Expanded channel presence with 70 new touchpoints, including new Premia outlets in Tamil Nadu and Assam, taking the total Premia network to 132 outlets across the country. Product • Unveiled the first flex -fuel motorcycle range – Splendor+ and HF Deluxe, accelerating the Company’s vision towards sustainable and clean mobility. • Expanded the ICE portfolio with Passion+ Disc, Super Splendor XTEC 2.0. • Awarded ‘Adventure Bike of the Year – XPulse 210’ and ‘Bike of the Year – Xtreme 250R’ at Bike India Awards 2026. Electric Mobility • Commenced retail of DIRT.E K3 off-road range in select markets, expanding VIDA’s portfolio beyond the urban commuter segment. • Deepened consumer engagement through Kolkata Knight Riders (KKR) partnership and “Ride Jitna, Pay Utna” Battery -as-a-Service campaign, featuring KKR players, to drive awareness and adoption of electric mobility. • VIDA received recognition and created milestones: - “Breakthrough Marketing Campaign of the Year” by Shri Nitin Gadkari, Hon’ble Minister of Road Transport & Highways at the Times Drive Auto Summit and Awards 2026 for its partnership with the KKR. - Global Most Trusted Brand at the Global Brand & Leadership Conclave at the House of Lords, British Parliament, London. - Entered the Asia Book of Records by creating the largest brand logo , marking the launch of the new VIDA Evooter VX2 Plus 4.4 kWh. Global Business • Sustained growth momentum across key international markets, while strengthening its presence in South America with a strategic re-entry into Ecuador. • Expanded its global premium portfolio in the United Kingdom with the launch of XPulse 200 4V and XPulse 200 Pro , strengthening presence in the adventure motorcycle segment. Leadership Appointment • Mr. Sachin Agrawal assumed charge as Chief Technology Officer (CTO), with effect from 21 May 2026. Sports • Hero MotoSports Team Rally celebrated a decade of global rally-raid racing and renewed its partnership with Amaury Sport Organisation (ASO), organisers of the Dakar Rally, for another five years. • Launched ‘India’s Next Dakar Hero’ (INDH) – a talent identification and development programme, to nurture young Indian off -road racing tal ent, with 18-year-old Shlok Ghorpade signed as its first recruit.
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l Hero CI 0 901171 Press Release • Hero MotoSports Team Rally welcomed Michael Docherty to its International Line-Up. • Hero MotoCorp's global ambassadors, Akshay Bhatia and Sahith Theegala, participated in the PGA Championship and the U.S. Open, respectively. Brand • Rolled out the refreshed Xoom brand campaign featuring brand ambassador Ishaan Khatter, strengthening its appeal among young urban riders. • Introduced cricket icon Abhishek Sharma for a high-decibel campaign for the Xtreme 125R , strengthening brand connect and engagement with young consumers. • Recognized as winner in ‘Best Use of AI' category at the 2026 ACKO TOTM Marketing Awards. CSR & Sustainability • Advanced community development and sustainable growth, positively impacting over 2,14,802 lives through focused CSR initiatives in road safety, inclusive sports, health, education, livelihoods and environmental stewardship. • Strengthened its commitment towards para sports through continued support to athletes, who secured 12 medals (6 Gold, 3 Silver, 2 Bronze) at the 8th Indian Open International Para Athletics Championships. • Ride Safe India’ was recognized as the ‘Best Road Safety Project of the Year’ at the 3rd Global CSR & ESG Awards 2026. • Awarded “Most Sustainable Company” in Automobile category at Business Today's India's Most Sustainable Companies 2026. • Neemrana Plant certified by Confederation of Indian Industry (CII) with GreenCo Platinum rating for 2026-2029. For more information on Hero MotoCorp: Press Contact: corporate.communication@heromotocorp.com
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it Hero Hero MotoCorp Ltd. Regd. Office: The Grand Plaza, Plot No.2, Nelson Mandela Road, Vasant Kunj - Phase -II, New Delhi - 110070, India Tel. +91-11-46044220, Fax +91-11-46044399 1 Email: corporate.communicationfteromotocorp.com 1 www.heromotocorp.com CIN: L35911 DL1904PLC017354 Annexure-A Sl. No. Particular Description 1 Name of the entity, date & country of incorporation, etc. Proposed Name: Hero MotoCorp Foundation - A Santosh Munjal Legacy. Country of incorporation: India. Date: Proposed to be incorporated. The name of the entity proposed to be incorporated is subject to the receipt of regulatory approvals. 2 Name of holding company of the incorporated company and relation with the listed entity Upon incorporation, the Company shall be a Wholly - owned subsidiary of Hero MotoCorp Limited (HMCL). 3 Industry to which the en tity being acquired belongs. Non-profit organisation. 4 Brief background about the entity incorporated in terms of products / line of business A company under Section 8 of the Companies Act, 2013 is proposed to be incorporated for Corporate Social Responsibility initiatives. 5 Brief details of any governmental or regulatory approvals required for the incorporation For incorporation of a company under Section 8 of the Companies Act, 2013, approval of the Central Government / Ministry of Corporate Affairs, is required. 6 Nature of consideration - whether cash consideration or share swap and details of the same Cash consideration. 7 Cost of subscription / price at which the shares are subscribed HMCL will infuse an initial subscription money of Rs. 1 crore. 8 Percentage of shareholding / control by the listed entity and / or number of shares allotted The proposed entity shall be a Wholly -owned subsidiary of HMCL.