• Management targets a medium-term EBITDA margin range of 14% to 16%, acknowledging that Q1 FY27's gross margin contracted by 300 basis points due to commodity inflation. • For Q2 FY27, management expects a marginal uptick in input cost inflation, which they plan to neutralize through improved product mix, optimized discretionary spending, and accelerated cost-saving programs. • The company plans to triple its EV capacity within FY27, increasing from 15,000 units per month to 30,000 per month by August 2026, and targeting 45,000 per month before the end of the fiscal year. • Hero MotoCorp expects FY27 to be the first full year of PLI accruals for its EV portfolio, with 60% currently certified and 100% expected to be compliant by December 2026, providing a strong structural tailwind. • The company anticipates positive growth for the overall two-wheeler industry in H2 FY27, despite a higher base, with full-year industry growth approaching double digits.

#WatchOutFor

1,192 likes·61 comments