The shares of the company gained around 4% to Rs 5,368 apiece on the NSE on Thursday morning. After releasing its results in the post-market hours on Tuesday, the stock has gained more than 5% so far.
Hero MotoCorp reported a 30% jump in net profit to Rs 1,401 crore for the fourth quarter of FY26, from Rs 1,081 crore reported in the corresponding quarter of the previous financial year. Its revenue from operations, meanwhile, rose 29% to Rs 12,797 crore during the quarter under review, from Rs 9,939 crore in the year-ago period.
EBITDA gained over 31% year-on-year (YoY) to Rs 1,856 crore in the fourth quarter of the financial year ended March 31, 2026. Along with the Q4 results, the company announced a final dividend of Rs 75 per equity share with a face value of Rs 2 each, subject to shareholders’ approval. Including the interim dividend of Rs 110 per share already paid, the total dividend for FY26 stands at Rs 185 per share.
Jefferies on Hero MotoCorp shares
Jefferies upgraded Hero MotoCorp shares from ‘Underperform’ to ‘Hold’, while maintaining its target price at Rs 5,000 apiece. This implies a downside potential of more than 3% from the stock’s previous closing price of Rs 5,170 apiece on the NSE.
The international brokerage said that the company’s EBITDA and profit recorded sharp gains, in line with its estimates. It added that two-wheeler demand is holding up well, and it expects 8% industry volume CAGR over FY26-29.
“Hero continues to face an adverse demand profile shift, but has regained some market share in 110-125 cc bikes and ICE scooters in the second half of FY26; its EV franchise is improving too. Post the recent stock fall, its 17x FY27E PE is reasonable and a 4% dividend yield is attractive,” it further said.
Goldman Sachs on Hero MotoCorp shares
Goldman Sachs maintained its ‘Sell’ rating on Hero MotoCorp shares, with a target price of Rs 4,300 apiece. This implies a downside potential of nearly 17% from the stock’s previous closing price.
The brokerage said the two-wheeler major’s quarterly performance was broadly in line with estimates, with average selling prices improving sequentially on the back of a richer product mix and price hikes. It highlighted commodity inflation and supply chain stability as key factors to watch, along with the company’s market share outlook for FY27 and export trends.
Motilal Oswal on Hero MotoCorp shares
Motilal Oswal said that the company’s net profit was in line with its estimates, and margins remained stable despite the ramp-up in the EV business.
“We expect Hero MotoCorp to benefit from a gradual rural recovery, given its strong brand equity in the economy and executive segments. Its focus on ramping up presence in scooters, both ICE and EV, and exports is likely to help drive volume growth,” it said.
The domestic brokerage maintained its ‘Buy’ rating on the stock, with a target price of Rs 6,248 apiece, implying an upside potential of 21% from the stock’s previous closing price.
JM Financial on Hero MotoCorp
JM Financial maintained its ‘Buy’ rating on Hero MotoCorp shares, but reduced its target price to Rs 6,180 apiece. The latest target price implies an upside potential of more than 19% from the stock’s previous closing price.
“Management expects the domestic two-wheeler industry to grow at a high single-digit rate in FY27, supported by sustained demand momentum. We build in 10% YoY volume growth for Hero MotoCorp in FY27, with potential upside risk, aided by strong growth in the scooter segment, with expanding capacity across both ICE and EV portfolios, and new product launches. Margin guidance has been maintained at 14-16%. We factor in near-term cost inflation, estimating EBITDA margin at 14% versus 14.1% earlier for FY27E,” the domestic brokerage said.
Hero MotoCorp share price
Hero MotoCorp shares have gained more than 4% in one week and over 5% in one month. The stock, however, has declined nearly 9% in 2026 so far. Shares of the company have surged more than 37% in one year.
In the longer term, Hero MotoCorp shares have jumped 109% in three years and 86% in five years. The company currently has a market capitalisation of nearly Rs 1.07 lakh crore.
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