Integrated Filing — IndAS



General information about company

Scrip Code 500182
NSE Symbol HEROMOTOCO
MSEI Symbol NOTLISTED
ISIN INE158A01026
Name of company HERO MOTOCORP LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 05-02-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 21-01-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Automotive segment
Start date and time of board meeting 05-02-2026   18:30:00
End date and time of board meeting 05-02-2026   20:45:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 12,32,838.00 34,03,361.00
Other income 29,587.00 83,238.00
Total income 12,62,425.00 34,86,599.00
2 Expenses
(a) Cost of materials consumed 8,22,413.00 22,49,510.00
(b) Purchases of stock-in-trade 24,603.00 58,416.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (15,710.00) (28,189.00)
(d) Employee benefit expense 70,497.00 2,02,911.00
(e) Finance costs 596.00 1,722.00
(f) Depreciation, depletion and amortisation expense 20,442.00 59,414.00
(f) Other Expenses
1 Other Expenses 1,50,030.00 4,19,193.00
Total other expenses 1,50,030.00 4,19,193.00
Total expenses 10,72,871.00 29,62,977.00
3 Total profit before exceptional items and tax 1,89,554.00 5,23,622.00
4 Exceptional items (11,900.00) (11,900.00)
5 Total profit before tax 1,77,654.00 5,11,722.00
6 Tax expense
7 Current tax 38,060.00 1,16,366.00
8 Deferred tax 4,739.00 8,648.00
9 Total tax expenses 42,799.00 1,25,014.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 1,34,855.00 3,86,708.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 1,34,855.00 3,86,708.00
17 Other comprehensive income net of taxes (1,022.00) (1,684.00)
18 Total Comprehensive Income for the period 1,33,833.00 3,85,024.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 4,002.00 4,002.00
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 67.4 193.3
Diluted earnings (loss) per share from continuing operations 67.35 193.11
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 67.4 193.3
Diluted earnings (loss) per share from continuing and discontinued operations 67.35 193.11
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. The above unaudited 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 unaudited standalone financial results for the quarter and nine months ended December 31, 2025 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meetings held on February 05, 2026.3. On February 05, 2026, the Board of Directors has considered and approved interim dividend @5500% i.e. Rs.110 per equity share (face value of Rs.2 per equity share) for the financial year 2025-26.4. During the quarter ended December 31, 2025, 13,752 equity shares and nine months ended December 31, 2025, 70,776 equity shares of Rs. 2 each were issued and allotted under the Employee Incentive Scheme – 2014.5. During the quarter and nine months ended December 31, 2025, the Company has made the following investment: Name of the Company- Euler Motors Private Limtied/ Nature- Associate/ Quarter ended December 31, 2025- '-'/ Nine months ended December 31, 2025- 510 Crore.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. During the year ended March 31, 2024, the Income Tax Authorities had disallowed certain expenses incurred in prior periods and made a demand of Rs.178 crores. The Company evaluated the demand and based on external legal advice, supporting documents for these expenses and other available information had filed an appeal with the Commissioner of Income Tax – Appeals in April 2024, and concluded that no provision is required for this demand as it is probable that the Company’s position will be accepted upon ultimate resolution. Further, there were investigations instituted against the Company and its Chairman by certain other government agencies in the past. During the previous period, certain investigations against the Company and its Chairman were concluded favorably. While uncertainty exists regarding the ultimate outcome of the other investigations, based on the developments in favour of the Company’s position and external legal advice, the Company after considering available information and facts, as of the date of approval of the financial results, has not identified any material adjustments, disclosures or any effect to financial results or financial information. 8. 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. Consequently, the Company is currently unable to reliably estimate a range of possible outcomes and will be evaluated once the implementation framework for determining the reliable estimate is established.9. On November 21 , 2025, the Government of India notified the four Labour codes - The code on Wages, 2019 , The Industrial Relations code, 2020, The code on Social Security, 2020, and The Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing Labour Laws. Based on the draft 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 119 crores in the quarter and nine months ended December 31 , 2025. Considering the materiality, regulatory driven and non - recurring nature of the impact, the company has presented such incremental impact under Exceptional item. The Company continues to monitor the finalisation of central/state rules and other developments pertaining to labour codes and would provide appropriate accounting effect on the basis of such developments, if any.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, DR. PAWAN MUNJAL, Executive Chairman, DIN : 00004223, New Delhi, February 05, 2026



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Re-measurement (losses) on defined benefit plans (1,365.00) (2,250.00)
Total Amount of items that will not be reclassified to profit and loss (1,365.00) (2,250.00)
2 Income tax relating to items that will not be reclassified to profit or loss (343.00) (566.00)
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income (1,022.00) (1,684.00)





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Unaudited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Deloitte Haskins & Sells LLP Yes 31-07-2027