Hero Motocorp Q2 FY27 Results (NSE: HEROMOTOCO)

· Analysis by Alpha Inflection

Signal: Growth decelerated

Hero Motocorp Q2 FY27 key financials
MetricValueYoYQoQ
Revenue₹14,970.5 Cr+22.5%+14.0%
Net profit₹1,860.55 Cr+40.9%
EPS₹92.99+42.2%

P&L walk

Revenue increased to ₹14,970.50 crore, +22.5% YoY and +14.0% QoQ, but gross margin compressed to 28.8% from 33.9% as raw-material and inventory costs rose faster than revenue; PAT nevertheless grew 40.9% YoY because associate profit swung to ₹417.38 crore from a ₹98.03 crore loss.

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