A median of estimates from 5 brokerages suggests a 6% year-on-year fall in income, whereas web revenue is seen declining by about 5% in comparison with the identical interval final yr.
Brokerages count on volumes to have declined round 11–12% YoY to 1.37 million models, impacted by manufacturing challenges in April and continued demand weak spot within the entry-level 110cc bike section. Whereas realizations are anticipated to rise 7–10% YoY—pushed by a richer product combine, worth hikes, and better contribution from spare components and exports—it’s unlikely to offset the quantity hit.
Kotak Institutional Equities expects income to drop 2% YoY, aided by a 7% improve in common promoting worth (ASP). It sees EBITDA margin contracting 30 bps YoY to 14.1%, with the underside line falling accordingly.
Motilal Oswal forecasts a steeper 60 bps margin decline to 13.8%, citing a better EV combine and weak ICE (inside combustion engine) gross sales. It expects PAT to fall about 7% YoY.
Nuvama echoes the volume-led income decline and provides that product launch bills and decrease scale may even weigh on working margins. It notes that demand commentary can be key.Phillip Capital sees a 1% sequential decline in quantity, harm by a 36% QoQ drop in exports. Whereas ASP is predicted to extend marginally QoQ to Rs 73,071, commodity prices and rising EV contribution are anticipated to squeeze the EBITDA margin by 26 bps to 14%. PAT might even see a marginal 2% QoQ development, it notes.YES Securities estimates a 2% YoY income decline to ~Rs 9,940 crore, with margins falling 40 bps YoY to 14%. Adjusted PAT is seen at Rs 1,070 crore, down 4.7% YoY.
Hero is predicted to report its Q1FY26 earnings later this week. All eyes can be on the administration’s demand outlook—significantly within the rural and entry-level segments—in addition to any updates on its EV roadmap.
(Disclaimer: Suggestions, solutions, views and opinions given by the specialists are their very own. These don’t symbolize the views of the Financial Instances)
