“Revenue down 5.5%, but PAT jumps 65%—what’s fueling Hero’s surprise?”

Financial Performance Standalone net profit rose marginally to ₹1,126 crore, up 0.3 % YoY and beating street estimates of ₹1,036 crore. Consolidated net profit after tax surged 65.3 % to ₹1,706 crore, driven by a one-time gain of ₹722 crore from the Ather Energy IPO. Revenue from operations declined 5.5 % YoY to ₹9,579 crore, missing expectations (vs ₹10,143 crore last year). EBITDA stood at ₹1,382 crore, down 5.3 % YoY; EBITDA margin remained flat at 14.4 %. Operational Metrics Sold 13.67 lakh motorcycles and scooters during Q1 FY26. Scooter portfolio growth led by Destini 125 and Xoom 125; launched HF Deluxe Pro in the 100cc segment. Electric mobility (VIDA) business expanded with a Battery-as-a-Service model, EVOOTER VX2 launch, and IPL-season promotions. International expansion included four new product launches in Sri Lanka and an expanded Hero Premia retail network. Strategic Commentary CFO highlighted resilient demand ahead of the festive season, backed by strong entry-level and deluxe segments and a robust new-launch pipeline. Management reiterated focus on electric mobility growth and premiumisation to drive sustainable long-term expansion. Market Reaction & Analyst View Shares settled 1.56 % lower at ₹4,476, underperforming the 0.31 % decline in the Nifty 50; investors weighed flat margins against revenue headwinds. Among 42 analysts tracking the stock: 23 maintain a Buy rating, 12 a Hold, and 7 a Sell, reflecting cautious optimism. Major Support & Resistance to watch for investor.. Support at 4200 & 4000 Resistance at 4600