Hero MotoCorp Income Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Revenue	444,028	409,234	377,886	341,584	295,513	309,592
Revenue Growth (YoY)	9.45%	8.30%	10.63%	15.59%	-4.55%	5.83%
Cost of Revenue	294,845	271,102	256,817	240,987	210,674	218,786
Gross Profit	149,183	138,132	121,070	100,597	84,839	90,806
Selling, General & Admin	41,533	40,092	36,032	31,836	27,845	25,924
Other Operating Expenses	41,592	38,162	31,608	27,301	22,319	23,840
Operating Expenses	91,511	86,500	75,213	66,111	57,059	56,915
Operating Income	57,672	51,632	45,856	34,486	27,781	33,891
Interest Expense	-588.7	-530.4	-600.6	-868.5	-294.2	-272.9
Interest & Investment Income	4,686	4,686	3,199	2,631	1,907	1,018
Earnings From Equity Investments	5,079	-1,611	-1,203	31.1	-1,991	-465.6
Currency Exchange Gain (Loss)	-378	-378	167.5	-473	181.4	3.6
Other Non Operating Income (Expenses)	605.9	-176.1	-163.1	-180.3	-236.8	-191.2
EBT Excluding Unusual Items	67,077	53,623	47,257	35,626	27,348	33,983
Merger & Restructuring Charges	-	-	-1,600	-	-	-
Gain (Loss) on Sale of Investments	5,732	5,732	5,238	3,003	3,329	4,548
Gain (Loss) on Sale of Assets	-19	-19	7	7.3	-96.1	-37.8
Other Unusual Items	-1,190	-	-	-	-	-
Pretax Income	71,600	59,336	50,902	38,636	30,581	38,493
Income Tax Expense	16,894	15,578	13,480	10,637	7,291	9,133
Earnings From Continuing Operations	54,705	43,758	37,422	27,999	23,291	29,361
Minority Interest in Earnings	-274.7	26.7	26.7	100.6	-121.7	-183
Net Income	54,431	43,785	37,448	28,100	23,169	29,178
Net Income to Common	54,431	43,785	37,448	28,100	23,169	29,178
Net Income Growth	31.09%	16.92%	33.27%	21.28%	-20.59%	-19.80%
Shares Outstanding (Basic)	200	200	200	200	200	200
Shares Outstanding (Diluted)	200	200	200	200	200	200
Shares Change (YoY)	-0.07%	-0.00%	0.10%	0.08%	0.04%	0.03%
EPS (Basic)	272.11	218.96	187.36	140.62	115.96	146.07
EPS (Diluted)	271.92	218.69	187.04	140.49	115.93	146.04
EPS Growth	31.17%	16.92%	33.13%	21.19%	-20.62%	-19.82%
Free Cash Flow	-	34,408	41,352	20,096	15,340	35,294
Free Cash Flow Per Share	-	171.85	206.53	100.47	76.76	176.66
Dividend Per Share	175.000	165.000	115.000	100.000	95.000	90.000
Dividend Growth	25.00%	43.48%	15.00%	5.26%	5.56%	-
Gross Margin	33.60%	33.75%	32.04%	29.45%	28.71%	29.33%
Operating Margin	12.99%	12.62%	12.13%	10.10%	9.40%	10.95%
Profit Margin	12.26%	10.70%	9.91%	8.23%	7.84%	9.43%
Free Cash Flow Margin	-	8.41%	10.94%	5.88%	5.19%	11.40%
EBITDA	63,955	57,768	51,797	40,404	33,836	40,110
EBITDA Margin	14.40%	14.12%	13.71%	11.83%	11.45%	12.96%
D&A For EBITDA	6,283	6,136	5,941	5,918	6,055	6,220
EBIT	57,672	51,632	45,856	34,486	27,781	33,891
EBIT Margin	12.99%	12.62%	12.13%	10.10%	9.40%	10.95%
Effective Tax Rate	23.60%	26.25%	26.48%	27.53%	23.84%	23.72%
Revenue as Reported	455,251	419,675	386,432	347,274	301,063	315,171
Advertising Expenses	-	12,929	10,895	8,918	7,505	6,060

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.