Hero MotoCorp shares fell over 4% during Wednesday's trading session on the National Stock Exchange (NSE) after its August dispatch data showed motorcycle and export volumes declining year-on-year, even as strong scooter sales kept overall dispatches positive.

The stock was trading at Rs 5,318 on the NSE at 9:48 am, down Rs 237, or 4.28%, from its previous close of Rs 5,555.

Wednesday’s decline extended Hero MotoCorp’s one-week loss to 4.64%, compared with a 1.97% fall in the benchmark index. About 2.39 lakh shares changed hands, while the company’s market capitalisation stood at Rs 1,06,805.36 crore.

The performance, however, was mixed across categories. Motorcycle dispatches declined 1.5% year-on-year to 4,93,851 units from 5,01,523 units. Exports fell 24.6% to 26,093 units from 34,588 units a year earlier.

Domestic dispatches increased 4.5% to 5,42,305 units from 5,19,139 units. Scooter volumes surged 42.8% to 74,547 units from 52,204 units, providing the biggest support to overall growth.

Hero MotoCorp dispatched 5,68,398 motorcycles and scooters in August 2026, up 2.6% from 5,53,727 units in the corresponding month last year.

For the first five months of FY27, total dispatches rose 17.2% to 27,79,127 units from 23,70,552 units in the year-ago period. Domestic volumes increased to 26,15,815 units from 22,34,193 units, while exports grew to 1,63,312 units from 1,36,359 units.

The company said retail momentum remained strong, with VAHAN registrations growing 19% year-on-year. Its domestic internal-combustion-engine business recorded dispatches of 5,16,747 units and VAHAN retail growth of 18%, supported by demand ahead of the festive season.

Hero MotoCorp’s electric-mobility business, VIDA, dispatched 25,558 units during August and recorded 38% growth in VAHAN retail registrations. The company also expanded its electric-scooter portfolio with the launch of the VIDA VX2 Go in a 3.1 kWh fixed-battery variant.

Q1 Results

On August 6, Hero MotoCorp reported a 36% year-on-year increase in revenue from operations to Rs 12,999 crore in Q1FY27, compared with Rs 9,579 crore in the corresponding quarter last year.

EBITDA stood at Rs 1,727 crore, while the margin came in at 13.3%, slightly above Bloomberg’s estimate of 13%. The company sold 16.77 lakh motorcycles and scooters during the quarter, up 23% year-on-year, reflecting sustained demand across markets.

Chief executive Harshavardhan Chitale said Hero MotoCorp began FY27 with strong momentum, supported by broad-based growth across its commuter, premium, electric-mobility and international businesses.

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