Press Release

it Hero October 28, 2026 Asst. Vice President, Listing Deptt., The Secretary, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Plot C-1, Block G, 25th Floor, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (E), Dalal Street, Mumbai - 400 051 Mumbai - 400 001 Scrip Code: HEROMOTOCO Scrip Code: 500182 Subject: Compliance under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Re.: Outcome of Board of Directors Meeting held on October 28, 2026 Dear Sir / Madam, Please note that the following matters were considered and approved at the Board of Directors meeting held today i.e. October 28, 2026: 1. The unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. A copy of the said results along with the limited review report, is enclosed. A press release issued in this regard, is also enclosed- Annexure-1. 2. Additional investment of up to INR 300 Crore (Rupees Three Hundred Crore) in HMCL Netherlands B.V., a wholly-owned subsidiary of the Company, in one or more tranches, for the purpose of further investment in its subsidiary companies viz. HMCL Colombia S.A.S and Hero MotoCorp Do Brasil Ltda. The relevant details of the above said investment as required under Regulation 30 of the Listing Regulations are attached herewith as Annexure-2. The meeting of the Board of Directors commenced at 02:30 p.m. and concluded at 5:30 p.m. Kindly take the aforesaid information on your records. Thanking you, For Hero MotoCorp Limited, Prabhat Singh Company Secretary & Compliance Officer Encl.: As above Hero MotoCorp Ltd. Regd. Office: The Grand Plaza, Plot No.2, Nelson Mandela Road, Vasant Kunj - Phase -II, New Delhi - 110070, India Tel. +91-11-46044220, Fax +91-11-46044399 1 Email: corporate.communicationfteromotocorp.com 1 www.heromotocorp.com CIN: L35911 DL1904PLC017354 it Hero Press Release New Delhi, October 28, 2026 HERO MOTOCORP ACHIEVES CONSOLIDATED Q2 FY’27 REVENUE OF Rs. 14,971 CRORES; POSTS PROFIT AFTER TAX (PAT) OF Rs. 1,861 CRORES COMPANY CONTINUES STRONG FINANCIAL MOMENTUM, DELIVERING ROBUST CONSOLIDATED REVENUE GROWTH OF 23% FOR THE QUARTER AND 28% IN H1 FY’27 Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today announced its financial results for the second quarter (July–September 2026) and half year (April–September 2026) of FY’27, delivering strong performance across all its segments including premium, scooter, electric mobility, global business and commuter. On standalone basis, the Company witnessed volume growth of 10% in Q2 FY’27, and a sequential growth of 11% over Q1 FY’27. Driven by these factors, the company delivered robust financial performance, recording a 23% growth in consolidated revenue in Q2 FY’27. Consolidated Financial Highlights:  Quarterly Performance: Revenue grew 23% YoY to Rs. 14,971 Crore from Rs. 12,218 Crore in Q2 FY’26. PAT stood at Rs. 1,861 Crore, reflecting a 41% YoY growth.  H1 FY'27 Performance: The Company reported Revenue and PAT of Rs. 28,097 Crore and Rs. 3,278 Crore, respectively (growth of 28% and 8% over H1 FY'26).  Results for the quarter and half-year include a Rs. 397 Crore gain from the equity consolidation of an associate company, following its capital raise via a Qualified Institutional Placement and Private Placement. Standalone Financial Highlights:  During the quarter, the Company sold 18.68 lakh motorcycles and scooters, registering a robust 10% growth - reflecting sustained consumer demand across markets and segments. The strong retail momentum led to a consistent improvement in ICE Vahan share in each of the three months of the quarter.  Quarterly Performance: Revenue from operations for the quarter stood at Rs. 14,687 Crore, reflecting a strong 21% growth over the corresponding quarter of the previous year. Despite commodity headwinds, EBITDA margins held steady at 13.4%, translating to an EBITDA of Rs. 1,968 Crore and a growth of 8% over previous year. PAT grew by 5% YoY to Rs. 1,456 Crore.  H1 FY'27 Performance: Revenue from operations stood at Rs. 27,686 Crore (up 28% YoY). EBITDA grew to Rs. 3,694 Crore (up 15% YoY), delivering an EBIDTA margin of 13.3%. PAT grew by healthy 16% YoY to Rs. 2,911 Crore.  The Parts, Accessories, and Merchandising (PAM) business grew by 27% YOY, recording a revenue of Rs. 1,941 Crore. it Hero Press Release Commenting on the performance, Harshavardhan Chitale, Chief Executive Officer, Hero MotoCorp said, “We delivered a strong performance this quarter, with scooters emerging as a key growth contributor, supported by healthy momentum across both, ICE and VIDA electric portfolio. This reflects the strength of our product offerings and our ability to respond to evolving customer aspirations across segments. Our 100cc motorcycle segment also continued to contribute to overall growth, underscoring the resilience of our portfolio. Going forward, our focus remains on sustaining this positive momentum, driving profitable growth and building a more diversified and future-ready business.” The Company’s Scooter portfolio grew by healthy 47% to 2.40 lakh units. ICE scooters continued to gain market share led by Destini and Xoom series, which grew by 50% year-on-year with dispatches of 1.37 lakh units during the quarter. VIDA continued its strong growth trajectory recording 76% year-on-year retail growth, reaching 66,531 units during the quarter. The Company’s Global Business expanded its footprint during Q2 FY’27 with its entry into Germany, its 54th global market, and also launched XPulse 200 4V and XPulse 200 4V Pro in Bangladesh. Sharpening its focus on premiumization, as a core pillar of growth, the Company appointed Anuj Dua as Chief Business Officer – Premium Segment. The Harley-Davidson Business delivered strong results, recording 30% sequential growth and 19% YoY increase in H1. The Company also continued to strengthen the Harley-Davidson retail ecosystem, expanding the network to offer globally sourced CBU models alongside locally manufactured X440 and X440 T. Additionally, in September 2026, the Company achieved a significant milestone, surpassing 50,000 Harley-Davidson X440 and X440T models riders on Indian roads. Highlights | Q2 FY’27 (July 2026 – September 2026) Business -  Consistent improvement in ICE Vahan share in each of the three months Growth + of the quarter Expansion  Domestic ICE Scooters dispatches grew by 35% YoY, leading to market share expansion of 1% YoY to 7.3%  Scooters portfolio – ICE + EV – contributed 13% of volume mix in Q2 – FY27, vs. 10% in Q2 – FY26  100cc motorcycles market share expanded by 5% YoY to 84.4%, led by more than 20% growth in Splendor portfolio  Announced a cumulative investment of over Rs 3,200 Crore in Andhra Pradesh and laid the foundation stone of its second Global Parts Centre (GPC) in Tirupati.  Marked VIDA’s global debut with entry into Nepal, its first international market introducing the VIDA VX2 EVOOTER (Plus and Go) and the VIDA DIRT.E K3 youth off-roader. Product  Launched the new VIDA EVOOTER VX2 Plus 4.4 kWh and VIDA VX2 Go in the 3.1 kWh variant - expanding the EVOOTER range and offering customers an accessible entry point into premium electric mobility.  Launched the Glamour X with Integrated-ABS, the first motorcycle in the 125cc segment to feature Single-Channel ABS paired with an Integrated Braking System (IBS)  Launched XPulse 200 4V and XPulse 200 4V Pro in Bangladesh marking a significant milestone in Hero MotoCorp’s 12-year journey in the country it Hero Press Release Highlights | Q2 FY’27 (July 2026 – September 2026) Leadership  Mr. Anuj Dua appointed as Chief Business Officer – Premium Segment Appointments effective August 3, 2026 to drive the next phase of growth in premium mobility.  Mr. Srihari Mulgund appointed as Chief Strategy Officer effective August 17, 2026 to lead the Company’s strategic agenda and supporting the next phas [Showing first 8,000 characters — download PDF for full document]