Hero MotoCorp Q4 FY26: Profit jumps 30%, ₹185 dividend

Record quarter as volumes accelerate

Hero MotoCorp reported a sharp jump in profitability and revenue for the quarter ended March 2026, helped by higher two-wheeler volumes. In an exchange filing, the company said both profit and revenue were at a record high for the quarter. The country’s largest two-wheeler manufacturer posted a standalone profit after tax of ₹1,401 crore, up 30% year-on-year (YoY). Revenue from operations rose 29% YoY to ₹12,797 crore.

The company also used the results announcement to declare a final dividend and share corporate approvals related to board positions. The results come at a time when investors have been tracking demand recovery, model mix, and margin stability in the two-wheeler segment.

Q4 FY26 profit rises to ₹1,401 crore

For Q4 FY26, Hero MotoCorp’s standalone net profit came in at ₹1,401 crore. In the year-ago quarter, the company had reported ₹1,081 crore. The company attributed the improvement to a “handsome jump in volumes” during the quarter.

The quarter’s performance is notable because it combines higher earnings with higher scale. The profit growth broadly tracked the operating profit expansion reported for the period.

Revenue climbs to ₹12,797 crore, a quarterly high

Revenue from operations in Q4 FY26 rose to ₹12,797 crore from ₹9,939 crore in Q4 FY25. The company characterised the quarter’s revenue outcome as a record.

For investors, the revenue figure is an important read-through for demand, pricing, and the effect of product and geographic mix. The company’s quarterly revenue growth was accompanied by a step-up in volumes in both motorcycles and scooters.

EBITDA up 31% as margin improves

EBITDA for the March 2026 quarter increased to ₹1,857 crore, compared with ₹1,416 crore a year earlier. The EBITDA margin was 14.5% versus 14.2% in the same quarter last year.

The improvement in margin, even as the company scaled up dispatches, indicates a better operating outcome versus the year-ago quarter. The company also reported that FY26 margin performance benefited from product mix and cost efficiencies.

Volume growth: 17.14 lakh units in Q4 FY26

Hero MotoCorp said two-wheeler volumes, including motorcycles and scooters, rose 24% YoY to 17.14 lakh units in Q4 FY26. Volumes were 13.81 lakh units in the year-ago quarter.

Volumes are a key operating metric for the company because they influence dealer throughput, capacity utilisation, and operating leverage. The YoY rise in dispatches aligned with the strong topline and profitability growth reported for the quarter.

FY26 snapshot: revenue ₹46,830 crore and PAT ₹5,268 crore

For the full year, Hero MotoCorp reported revenue from operations of ₹46,830 crore and profit after tax of ₹5,268 crore. The company’s operating margin for FY26 stood at 14.7%.

It said the operating margin reflected an improvement of 30 basis points YoY, driven by a favourable product mix and cost efficiencies. The company also disclosed that revenue from its parts, accessories and merchandising (PAM) business for the year came in at ₹6,147 crore.

Dividend announced: ₹75 final, ₹185 total for FY26

Alongside the results, Hero MotoCorp declared a final dividend of ₹75 per equity share. The company also disclosed that including the interim dividend of ₹110 per share, the total dividend for FY26 amounts to ₹185 per equity share.

It added that the total dividend represents a payout of 9,250%. The record date for determining shareholder eligibility for the final dividend payout is July 24, as per the exchange filing.

Board and leadership decisions disclosed in the filing

The company approved the re-appointment of Pawan Munjal as whole-time director designated as the executive chairman for an additional term of five years with effect from October 1, 2026. It also approved the reappointment of Suman Kant Munjal as director.

The filing also noted the re-appointment process is subject to member approval at the company’s ensuing 43rd annual general meeting.

Stock market reaction: Hero shares end higher

Hero MotoCorp shares ended the day up 0.84% at ₹5,109. Over the same session, the NSE Nifty 50 declined 0.36%, as cited in the report.

While the move was modest, the relative outperformance against the benchmark on the day of the results highlights that the market took note of the record quarter and the dividend announcement.

Key numbers at a glance

Full-year FY26 and dividend summary

Why these results matter for two-wheeler watchers

Hero MotoCorp’s Q4 FY26 update puts focus on three measurable drivers: higher dispatches, improved margins, and shareholder payouts. The 24% rise in quarterly volumes provides context for the 29% revenue growth and the 31% increase in EBITDA. The FY26 operating margin of 14.7%, up 30 basis points YoY, adds a full-year confirmation of margin stability.

The dividend outcome is also a key takeaway. With a final dividend of ₹75 per share and total FY26 dividend of ₹185 per share, the company has signalled confidence in cash generation, while clearly specifying a July 24 record date for shareholder eligibility.

Conclusion

Hero MotoCorp delivered a record March-quarter performance in FY26, with profit after tax rising to ₹1,401 crore and revenue from operations reaching ₹12,797 crore, supported by higher volumes and improved margins. For the full year, it reported ₹46,830 crore in revenue and ₹5,268 crore in PAT, alongside a 14.7% operating margin. The next key dates for investors are the July 24 record date for the final dividend and the approvals due at the forthcoming annual general meeting, as outlined in the exchange filing.