HEROMOTOCO

Adds details from paragraph 3 onwards

May 22 (Reuters) - Indian automaker Eicher Motors EICH.NS beat quarterly profit estimates on Friday, as last year's tax cuts boosted demand for its high-margin 350-cc motorcycles.

The Royal Enfield Himalayan 450 adventure bike manufacturer posted a near 12% rise in consolidated net profit to 15.2 billion rupees ($158.85 million) for the March quarter from a year ago.

Analysts had estimated a quarterly profit of 14.87 billion rupees, according to data compiled by LSEG.

India's top premium motorcycle maker was the biggest beneficiary of the September tax cuts that lowered duties from 28% to 18% on the 350-cc category, which occupies a large chunk of the company's portfolio.

Its total revenue jumped 16% to 60.80 billion rupees, beating analysts' average estimate of 59.98 billion rupees.

After posting higher quarterly profits, peers Bajaj Auto BAJA.NS, TVS Motor TVSM.NS and Hero MotoCorp HROM.NS are relying on a premium product mix, export expansion and cost controls to cushion higher shipping expenses and commodity prices stemming from the closure of the Strait of Hormuz.

(Reporting by Kashish Tandon and Urvi Dugar in Bengaluru; Editing by Harikrishnan Nair and Shreya Biswas)

((Kashish.Tandon@thomsonreuters.com; 8800437922;))

May 14 -

• INDIA'S APRIL TOTAL DOMESTIC PASSENGER VEHICLE SALES UP 25.4% Y/Y -INDUSTRY BODY

• INDIA'S APRIL TOTAL DOMESTIC PASSENGER VEHICLE SALES AT 437,312 UNITS - INDUSTRY BODY

• INDIA'S APRIL TOTAL TWO-WHEELER SALES UP 28.4% Y/Y AT 18,72,691 UNITS - INDUSTRY BODY

• INDIA AUTO INDUSTRY BODY SIAM SAYS THOUGH THERE ARE CONCERNS OF HIGH COMMODITY PRICES DISRUPTIONS IN WEST ASIA, INDUSTRY WITNESSING GOOD DEMAND

Source text: [ID:]

** Shares of two-wheeler maker Hero MotoCorp HROM.NS up 4.4% for the week so far, on course for its best showing in a month

** The Splendor motorcycle maker posts a quarterly profit beat, on steady domestic demand and consumption tax cuts

** Multiple brokerages expect HROM to get market share in high-growth segments such as scooters and electric vehicles and see scope for valuation re-rating

** The average rating of 33 analysts tracking HROM is "buy"; median price target is 6,000 rupees, according to data compiled by LSEG

** Stock down 7.8% in 2026 so far, lagging the 3% drop in auto index .NIFTYAUTO, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

May 7 (Reuters) - ** Hero MotoCorp HROM.NS, India's top two-wheeler maker, beat quarterly profit estimates on Tuesday, driven by strong domestic demand

** Shares rise 2.8% to 5,319.50 rupees, extending gains from Wednesday

EV DRIVES OUTLOOK

** Morgan Stanley ("Overweight," PT: 6,537 rupees) highlights potential market share gains in high-growth segments such as scooters and EVs, with product launches and capacity expansion supporting growth

** J.P. Morgan ("Overweight," PT: 6,430 rupees) says improving demand, stronger positioning in EVs and exports, and scope for valuation re-rating underpin a constructive view

** Macquarie ("Outperform," PT: 6,408 rupees) points to solid growth visibility driven by premiumisation, export expansion and ramp-up in scooters and EVs

** Nomura ("Neutral," PT: 5,783 rupees) notes steady earnings delivery and continued progress in exports and scooters, with expectations of margin support over time from cost pass-throughs and EV incentives

(Reporting by Kashish Tandon in Bengaluru)

((kashish.tandon@thomsonreuters.com; Mobile: +91 8800437922))

** Shares of Hero MotoCorp up 1.91% to 5,206.5 rupees

** Splendor motorcycle maker posts profit beat; Q4 profit up 30% to 14.01 billion rupees ($147.5 million) YoY

** Q4 revenue rises 29% to 127.96 billion rupees

** Earnings benefit from tax cut on motorcycles with engines up to 350cc capacities, as well as expansion, exports and rising premium motorcycle sales amid improving rural demand

** Co's premium Harley Davidson portfolio posts 26% growth in dispatches YoY

** Stock rated "Buy" on average by 33 analysts; median PT at 6,227.5 rupees, as per data compiled by LSEG

** YTD, stock down 9.8%

($1 = 94.9600 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

((Mridula.Kumar@thomsonreuters.com;))

Rewrites throughout with industry executive's comments, background

By Kashish Tandon

BENGALURU, May 5 (Reuters) - India's auto dealerships are bracing for potential ripple effects from the ongoing Middle East conflict on fuel prices and supply chains, a senior industry official said on Tuesday, after retail vehicle sales hit a record for April.

Disruptions linked to the conflict have been limited so far in the world's third-largest car market, but could start affecting auto part supplies over the coming months if the instability persists, Sai Giridhar, vice president of the Federation of Automobile Dealers Associations, said in an interview.

"There have been some instances of supply getting disrupted, particularly in parts shipments coming from Europe, mainly in the after-market and service side," Giridhar said.

While the impact is not broad‑based, the repercussions could last for a few months even if the conflict were to end, he said.

The comments reflect wider concerns about a prolonged Iran war and the consequent energy shock hitting growth and raising inflation in the world's most populous country. Industry leader Maruti Suzuki MRTI.NS has warned it could raise prices as the war pushes up commodity costs.

India's auto sector has been in a good spot over the last few months, as last September's tax cuts have made cars more affordable, with easier financing conditions and strong demand from towns and rural areas.

However, margins are likely to come under pressure, analysts have said, as rising steel, aluminium and freight costs tied to the war hit the bottomline.

For now, a potential sharp rise in fuel prices remains a key risk for consumer sentiment, Giridhar said.

Indian state refiners have raised prices of liquefied petroleum gas for industrial customers and jet fuel sold to foreign carriers, but prices of gasoline, diesel and cooking gas have not been raised for domestic customers.

Overall retail vehicle sales in April rose 12.9% year-over-year to a record high of 2.6 million units for that month, data released by the auto body showed.

Car sales in rural India jumped 20.4%, nearly three times the urban growth of 7.1%, driven in part by a revival in small-car sales.

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala and Dhanya Skariachan)

((Kashish.Tandon@thomsonreuters.com; 8800437922;))

Adds details throughout

May 4 (Reuters) - India's Ather Energy ATHR.NS posted a significantly narrower quarterly loss on Monday, supported by strong demand for its e-scooters, particularly its best-selling "Rizta" model.

The Bengaluru-based EV maker reported a loss of 1 billion rupees ($10.54 million) for the quarter ended March 31, down from a loss of 2.34 billion rupees last year.

Here are a few key details:

• The company's sales momentum remained strong, with fourth-quarter volumes surging 76% to a record 83,418 units. This pushed revenue up 73.8% to 11.75 billion rupees.

• Ather has been expanding its presence in northern and central India, banking on the Rizta, a family-focused scooter, to capture a larger share of the market.

• Although an early entrant in India's electric two-wheeler market, launching its 450 series of scooters in 2018, Ather faced intense competition from larger rivals such as TVS Motor TVSM.NS and Bajaj Auto BAJA.NS, which benefit from stronger financial resources and wider distribution networks.

• The company also highlighted challenges, noting that the past fiscal year was affected by multiple supply chain crises. It also expects commodity prices to remain volatile and elevated in the near term due to ongoing geopolitical uncertainties.

• Hero MotoCorp HROM.NS, India's largest two-wheeler maker, continues to hold a 30.14% stake in Ather Energy.

($1 = 94.8737 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru; Editing by Sherry Jacob-Phillips)

((mridula.kumar@thomsonreuters.com))

May 1 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• HERO MOTOCORP - APRIL 2026 DISPATCHES RISE TO 566,086 UNITS FROM 305,406 UNITS YEAR AGO

Source text: ID:nBSE67bfpS

Further company coverage: HROM.NS

((Reuters.Briefs@thomsonreuters.com;))

April 14 (Reuters) - India's auto industry body on Tuesday flagged concerns on the possible adverse impact of the Middle East war on automotive production, input and fuel prices, and freight rates.

Here are some key details:

• The West Asia conflict is expected to pose short-term challenges for the auto industry, Shailesh Chandra, president of Society of Indian Automobile Manufacturers (SIAM), said.

• Uncertainties arising from the West Asia conflict, particularly prices of crude oil and commodities, higher exchange rates and disruptions in shipping routes, remain a concern for the auto sector, the industry body said.

• In the near term, the conflict may weigh on export volumes, and the evolving situation reinforces the need for calibrated supply chains and diversification of energy inputs, analysts at Antique Stock Broking said.

• In the entry-level segment in April so far, buyer enquiries are strong, but converting them to sales is taking longer, the SIAM president said.

• Car sales by manufacturers to dealers in the world's third-largest car market rose 7.9% to 4.6 million units in the financial year 2026, industry data showed, compared to the previous fiscal year's 2%, as consumer sentiment improved due to tax cuts.

• In September 2025, India slashed taxes on larger SUVs to 40% as an additional levy was dropped and on small cars and two-wheelers to 18% from 28%, helping support demand across segments.

• Total domestic two-wheeler sales in the financial year 2026 rose 10.7% on-year compared to 9.1% growth last year, the industry data showed.

(Reporting by Aditi Shah and Anuran Sadhu; Editing by Harikrishnan Nair)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))

Updates with comment from Roop polymers in paragraph 15, updates dateline

By Aditi Shah and Arpan Chaturvedi

MANESAR, India, April 11 (Reuters) - India's auto-making state of Haryana ordered a 35% hike in minimum wages on Friday, after factory workers boycotted work and staged protests this week over rising living costs as a result of the U.S.-Israeli war on Iran.

Haryana's government said it was raising the minimum wage for unskilled workers to $165 per month, from roughly $120, effective April 1, a move that helps workers but will raise cost pressures for India's auto industry at a time of rising input prices and supply chain disruptions.

The decision comes a day after clashes between the police and workers in Manesar, located 30 miles (48.28 km) south of New Delhi and home to companies like Maruti Suzuki MRTI.NS, as well as hundreds of ancillary units that feed into it.

"We urge the workers to ... peacefully carry on their work," Ajay Kumar, a state official, said in a video address on Friday.

Factory workers have been hit hard as prices at eateries have surged due to disrupted supplies of gas in recent weeks, prompting some to return to their villages.

India is the world's second-largest liquefied petroleum gas (LPG) importer and is battling its worst gas crisis in decades, with the government cutting supplies for industries to shield households from any shortage of cooking gas.

The government's move will increase costs for India's car industry, already dealing with higher raw material prices stemming from the Iran war. While the likes of Tata Motors TAMO.NS and Mahindra MAHM.NS have raised car prices, Maruti has warned of a similar move.

HEAVY RELIANCE ON GAS

India's heavy reliance on gas across the economy - businesses of all sizes, households, agriculture, public transport - makes its factories as well as lower-income earners among the most vulnerable in Asia.

Akash Kumar, 25, who works at Munjal Showa MNJL.NS, a supplier to motorbike maker Hero MotoCorp HROM.NS, said street vendors were charging him double the price for a meal of bread, curry and yogurt.

Friday's decision, he said, will bring some relief. "Whatever we get, we have to be happy," he said, adding that workers have resumed duties after being told about the pay hike.

Industrial unrest in Manesar affected various auto suppliers this week, according to Reuters' interviews with more than 30 workers. Workers said they were demanding pay rises to sustain their livelihoods as food was becoming expensive and gas supplies were erratic.

The federal government maintains there is no shortage of cooking gas for households and it is increasing availability of smaller cylinders for daily-wage earners and migrants.

Munjal Showa told Reuters its production was partially impacted this week.

At Roop Polymers, a supplier to Maruti and Honda 7267.T, notices on the factory-gate wall warned of disciplinary action against absent workers, and a company executive said "work was heavily disrupted inside" due to the protests.

In a statement on Saturday, Roop told Reuters that the impact of worker protests on production was "very minimal" and operations are now running normally.

Maruti, Honda and Hero did not respond to requests for comment.

While talks between Iran and the U.S. have raised hopes of de-escalation, auto industry executives said supply chains could take weeks to normalise, as a growing number of migrant workers head back home.

India has about 400 million local migrant workers heading to places such as Manesar to earn a minimum wage for an average 48 hours a week.

"Most employers are trying hard to hold on to the workforce that is running back by offering two meals a day or paying a small bonus," said Vinod Kumar, president of India SME Forum which represents thousands of small and medium-sized businesses.

The group is seeking government help to implement "emergency" measures and establish cluster-based common kitchens, as Kumar said "once labour leaves, it is very difficult to get them back."

(Reporting by Aditi Shah and Arpan Chaturvedi in Manesar, additional reporting by Dhwani Pandya in Mumbai, Saurabh Sharma in New Delhi and Sumit Khanna in Ahmedabad; Editing by Aditya Kalra, Miyoung Kim, Elaine Hardcastle and Alexander Smith)

((aditi.shah@tr.com; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))

By Aditi Shah and Arpan Chaturvedi

MANESAR, India, April 10 (Reuters) - India's auto-making state of Haryana ordered a 35% hike in minimum wages on Friday, after factory workers boycotted work and staged protests this week over rising living costs as a result of the U.S.-Israeli war on Iran.

Haryana's government said it was raising the minimum wage for unskilled workers to $165 per month, from roughly $120, effective April 1, a move that helps workers but will raise cost pressures for India's auto industry at a time of rising input prices and supply chain disruptions.

The decision comes a day after clashes between the police and workers in Manesar, located 30 miles (48.28 km) south of New Delhi and home to companies like Maruti Suzuki MRTI.NS, as well as hundreds of ancillary units that feed into it.

"We urge the workers to ... peacefully carry on their work," Ajay Kumar, a state official, said in a video address on Friday.

Factory workers have been hit hard as prices at eateries have surged due to disrupted supplies of gas in recent weeks, prompting some to return to their villages.

India is the world's second-largest liquefied petroleum gas (LPG) importer and is battling its worst gas crisis in decades, with the government cutting supplies for industries to shield households from any shortage of cooking gas.

The government's move will increase costs for India's car industry, already dealing with higher raw material prices stemming from the Iran war. While the likes of Tata Motors TAMO.NS and Mahindra MAHM.NS have raised car prices, Maruti has warned of a similar move.

HEAVY RELIANCE ON GAS

India's heavy reliance on gas across the economy - businesses of all sizes, households, agriculture, public transport - makes its factories as well as lower-income earners among the most vulnerable in Asia.

Akash Kumar, 25, who works at Munjal Showa MNJL.NS, a supplier to motorbike maker Hero MotoCorp HROM.NS, said street vendors were charging him double the price for a meal of bread, curry and yogurt.

Friday's decision, he said, will bring some relief. "Whatever we get, we have to be happy," he said, adding that workers have resumed duties after being told about the pay hike.

Industrial unrest in Manesar affected various auto suppliers this week, according to Reuters' interviews with more than 30 workers. Workers said they were demanding pay rises to sustain their livelihoods as food was becoming expensive and gas supplies were erratic.

The federal government maintains there is no shortage of cooking gas for households and it is increasing availability of smaller cylinders for daily-wage earners and migrants.

Munjal Showa told Reuters its production was partially impacted this week.

At Roop Polymers, a supplier to Maruti and Honda 7267.T, notices on the factory-gate wall warned of disciplinary action against absent workers, and a company executive said "work was heavily disrupted inside" due to the protests.

Roop, Maruti, Honda and Hero did not respond to requests for comment.

While talks between Iran and the U.S. have raised hopes of de-escalation, auto industry executives said supply chains could take weeks to normalise, as a growing number of migrant workers head back home.

India has about 400 million local migrant workers heading to places such as Manesar to earn a minimum wage for an average 48 hours a week.

"Most employers are trying hard to hold on to the workforce that is running back by offering two meals a day or paying a small bonus," said Vinod Kumar, president of India SME Forum which represents thousands of small and medium-sized businesses.

The group is seeking government help to implement "emergency" measures and establish cluster-based common kitchens, as Kumar said "once labour leaves, it is very difficult to get them back."

(Reporting by Aditi Shah and Arpan Chaturvedi in Manesar, additional reporting by Dhwani Pandya in Mumbai, Saurabh Sharma in New Delhi and Sumit Khanna in Ahmedabad; Editing by Aditya Kalra, Miyoung Kim and Elaine Hardcastle)

((aditi.shah@tr.com; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))

April 6 (Reuters) - India’s auto dealers warned of possible supply disruptions in the near term, from the West Asia conflict, even as Indian retail vehicle sales rose 25.28% in March, closing the financial year on a strong note on sustained momentum from tax cuts that improved affordability, the Federation of Automobile Dealers Associations (FADA) said on Monday.

Passenger vehicle sales rose 21.48% year-over-year in March, while two-wheeler sales rose 28.68% and commercial vehicle sales rose 15.12%, FADA said.

(Reporting by Meenakshi Maidas in Bengaluru)

((Meenakshi.Maidas@thomsonreuters.com; +91 8921483410;))

April 1 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• HERO MOTOCORP - HERO MOTOCORP RECORDS 24% DISPATCH GROWTH IN Q4 2026

• HERO MOTOCORP - MARCH TOTAL SALES 598,198 UNITS

Source text: ID:nBSE5m7lJS

Further company coverage: HROM.NS

((reuters.briefs@thomsonreuters.com;))

Repeats to additional subscribers, with no change to text

By Aditi Shah

NEW DELHI, March 26 (Reuters) - India has asked automakers and parts suppliers to tighten production schedules to conserve fuel amid fears of shortages caused by disrupted oil and gas imports from the Gulf due to the Iran war, a government memo seen by Reuters shows.

The heavy industries ministry has also urged companies to shift factory operations from oil-based fuels to electricity and to use recycled aluminium or alternative materials as shortages and costs rise, according to the March 25 advisory.

For India, one of the world's largest oil and gas importers, the advisory underscores the government's mounting concern over the conflict and its disruption to energy flows, supply chains and availability of raw materials.

India's ministry of heavy industries did not immediately respond to a request for comment.

The government has already prioritised use of gas for households over industries, which get only about 80% of their average needs.

Some parts suppliers to India's leading carmakers like Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS and Mahindra MAHM.NS are already reporting a shortage of gas to power operations at a time when vehicle sales are booming.

The ministry wants the sector to do more.

"Wherever technically feasible, a transition from oil-based fuels to electricity may be considered. Further, production schedules may be optimised to minimise idle and standby fuel consumption," the ministry said in its note.

The government wants companies to use recycled aluminium where possible and explore the use of alternative materials for packaging and other non-critical applications to reduce "demand pressure" amid shortages which are already affecting beer makers.

"I don't know how much we can change in the factory, but the takeaway is that this war is going to go on for a long time and we should be prepared," said an executive at an Indian carmaker.

(Reporting by Aditi Shah, Editing by William Maclean)

((aditi.shah@tr.com; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))

March 13 (Reuters) - India's domestic car dispatches to dealers rose for the fifth straight month in February, data from an industry body showed on Friday, helped by tax cuts that have lowered prices across most models.

"While the month of March has festive drivers... the recent conflict in West Asia remains a concern... could impact the manufacturing processes and exports," Rajesh Menon, Director General of Society of Indian Automobile Manufacturers (SIAM), said.

Here are some key details:

• Passenger vehicle dispatches jumped 10.6% to 417,705 units in February, compared with 377,689 units a year earlier.

• Tax reductions continue to fuel growth, extending momentum for fifth consecutive month.

• In September 2025, India slashed taxes on larger SUVs to 40% as an additional levy was dropped and on small cars and two-wheelers to 18% from 28%, helping support demand across segments.

• Vehicle sales picked up during the ongoing wedding season, supported by strong bookings, inventory build-up and new model launches.

• Domestic demand is expected to remain strong, though exports could soften on reduced shipments to Africa and the Middle East, analysts added.

• SIAM warns the ongoing Middle East crisis could hit production and exports if supply chains are disrupted.

• A shortage of gas - crucial for paint shops and component manufacturing - may affect production, analysts said, though they expect only near-term impact on Indian manufacturers due to inventory buffers.

• Domestic demand to stay robust but exports could weaken due to reduced shipments to Africa and the Middle East- Axis Capital

• India, the world's third-biggest car market, has an auto industry that accounts for 7.1% of its GDP.

• Tax cut-driven growth is likely to sustain for several quarters, a dealer's body said last week.

(Reporting by Meenakshi Maidas and Urvi Dugar in Bengaluru)

((Meenakshi.Maidas@thomsonreuters.com; +91 8921483410;))

March 12 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• TAX DEMAND REDUCED FROM 1.78 BILLION RUPEES TO 270 MILLION RUPEES

Source text: ID:nBSE3qrSYs

Further company coverage: HROM.NS

((Reuters.Briefs@thomsonreuters.com;;))

March 5 (Reuters) - India’s retail vehicle sales rose 25.6% in February on strong demand for two-wheelers and passenger vehicles, as the momentum from tax-cut measures persisted, the Federation of Automobile Dealers Associations (FADA) said on Thursday.

(Reporting by Meenakshi Maidas in Bengaluru)

((Meenakshi.Maidas@thomsonreuters.com; +91 8921483410;))

Feb 13 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S JAN TOTAL DOMESTIC PASSENGER VEHICLE SALES 4,49,616 UNITS

• SIAM - INDIA'S JAN 2-WHEELER SALES 19,25,603 UNITS

• SIAM - INDIA'S JAN 3-WHEELER SALES 75,725 UNITS

• SIAM: NEW BUDGET INITIATIVES, POLICY TAILWINDS EXPECTED TO DELIVER LONG-TERM BENEFITS, SUPPORT GROWTH IN MEDIUM TERM

((Reuters.Briefs@thomsonreuters.com;;))

** Shares of Hero MotoCorp HROM.NS down 1% at 5788.50 rupees so far on the day

** Analysts on avg expect India's top two-wheeler maker by sales to report a 14.5% y/y increase in Q3 profit to 13.78 billion rupees ($152.69 million) -- data compiled by LSEG

** Co beat Q2 profit estimates on the back of demand fueled by domestic tax cuts as well as strong exports

** Stock rated "hold" on avg by 33 analysts, median PT: 6300 rupees; rival TVS Motor TVSM.NS rated "buy" on avg, median PT: 4200 rupees -- LSEG data

** HROM gained about 39% in 2025 and is up 1.4% YTD, while TVSM rose 57% last year and has traded largely flat this year

($1 = 90.2510 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))

Jan 20 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• GETS TAX DEMAND OF 49.7 MILLION RUPEES WITH PENALTY AND INTEREST

Source text: ID:nBSE24y14f

Further company coverage: HROM.NS

((Reuters.Briefs@thomsonreuters.com;;))

Jan 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,99,216 UNITS

• SIAM - LOOKING AHEAD, INDUSTRY EXPECTS POSITIVE MOMENTUM TO CONTINUE WELL INTO 2026

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC DOMESTIC 3-WHEELER SALES 61,924 UNITS

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC DOMESTIC 2-WHEELER SALES 15,41,036 UNITS

• SIAM - WHILE REMAINING WATCHFUL OF GEOPOLITICAL DEVELOPMENTS, INDUSTRY EXPECTS FY2025–26 TO CLOSE ON POSITIVE GROWTH TRAJECTORY

Source text: [ID:]

Further company coverage: ASOK.NS

((Reuters.Briefs@thomsonreuters.com;;))

Jan 8 (Reuters) - Valeo SE VLOF.PA:

• VALEO AND HERO MOTOCORP ANNOUNCE PARTNERSHIP

Source text: https://tinyurl.com/zh45b2x4

Further company coverage: VLOF.PA

(Gdansk Newsroom)

((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))

Jan 6 (Reuters) - INDIA AUTODEALERS BODY FADA:

• DEC’25 AUTO RETAIL AT 20,28,821 UNITS

• DEALER SENTIMENT REMAINS FIRMLY POSITIVE, WITH OUR SURVEY INDICATING 70.48% EXPECTING GROWTH

• OVER NEXT 3 MONTHS, RETAIL OUTLOOK REMAINS DECISIVELY UPBEAT

• DEC’25 AUTO RETAIL UP 14.63% YOY

((Reuters.Briefs@thomsonreuters.com;))

Jan 1 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• REPORTS 40% Y/Y GROWTH IN DECEMBER DISPATCHES

Source text: ID:nBSE1dlv6F

Further company coverage: HROM.NS

((Reuters.Briefs@thomsonreuters.com;;))

** Two-wheeler maker Hero MotoCorp's HROM.NS shares rise as much as 2.37% to 6,016 rupees, a 14-month high

** Stock advances after Macquarie upgrades it to "outperform" from "neutral," citing a likely uptick in both motorcycles and scooters driven by GST cuts and new launches

** Macquarie also lifts its price target to 6,793 rupees from 6,094, implying a 16.7% upside

** Brokerage says Hero's ICE motorcycle market share is stabilising while new scooters are gaining strong traction

** The upgrade follows J.P. Morgan's move on Wednesday to raise the stock to "overweight" from "neutral", flagging stabilising market share, an improving earnings outlook, tax cuts and rising EV penetration

** J.P. Morgan also increases its target to 6,850 rupees from 5,640 rupees

** Hero MotoCorp is up 3.5% in two sessions and has gained 9.1% in five sessions after a September-quarter profit beat

** The stock is up 41.2% in 2025, outperforming the auto index's .NIFTYAUTO 20.6% rise

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

** India's Hero Motocorp HERO.NS rises 3.55% to 5,735 rupees

** Analysts praise Q2 margin expansion but some voice caution on sustainability of results

** EBITDA margin grew 55 basis points y/y to 15%

** Motilal Oswal says, it expects co to deliver a volume CAGR of ~6% over FY26-28, driven by new launches and a ramp-up in exports

** Nirmal Bang says HERO outperformed industry during the festive season, gaining 40 bps market share

** Adds, sustained volume growth, rising premium mix and expanding EV portfolio to strengthen co's leadership in two-wheelers

** However, Antique Stock Broking says stock's recent rally has priced in near-term optimism

** Brokerage says awaiting clearer evidence of sustained EV profitability before upgrading stock to 'accumulate' from 'hold'

** Ambit says recent uptick in first-time buyers, market share gains in EV segment and export momentum may not be sustainable

** HERO rated 'hold' on avg by 31 analysts; median PT at 5,823.5 rupees- data compiled by LSEG

** YTD, stock up ~38%

(Reporting by Ananta Agarwal in Bengaluru)

((Ananta.Agarwal@thomsonreuters.com))

Nov 13 (Reuters) - Hero MotoCorp HROM.NS, India's top two-wheeler maker by sales, reported a better-than-expected quarterly profit on Thursday, on the back of demand fueled by domestic tax cuts as well as strong exports.

The maker of the Splendor motorcycle posted a 15.7% rise in quarterly profit to 13.93 billion rupees ($158.5 million) in the July-September quarter, topping analysts' estimates of 13.78 billion rupees, according to data compiled by LSEG.

With global forays and a push into electric mobility, Hero is positioning for sustained growth in overseas markets and emerging segments.

Hero has partnered with distributors in Europe to expand its overseas shipments. In October, it partnered with UK-based distributor MotoGB and French distributor GD France after announcing it will begin to sell its products in Italy and Spain.

Sales for the three months ended September 30 rose 11.25% to 1.69 million vehicles, driven by a 77% rise in exports.

Domestic sales were also boosted by lower tax on motorcycles of engine capacities up to 350cc which are the bulk of Hero's sales.

September's domestic sales climbed about 25% from the previous month to 647,582 units, buoyed by festive-season demand and strong momentum in the entry-level, deluxe and scooter categories.

The two-wheeler maker's revenue rose about 16% to 121.26 billion rupees, while its total expenses increased about 15%.

Hero's earnings before interest, taxes, depreciation and amortisation margin grew by 55 basis points year-on-year to 15% during the quarter.

Analysts anticipated the margin to improve, mainly by stronger operating leverage, though partly offset by higher launch-related costs following the introduction of three new models in the reported quarter.

Rivals Bajaj Auto BAJA.NS and TVS Motor TVSM.NS also posted an export-driven profit rise in the reported quarter.

($1 = 87.8950 Indian rupees)

(Reporting by Urvi Dugar and Anuran Sadhu in Bengaluru; Editing by Krishna Chandra Eluri)

((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))

Nov 6 (Reuters) - India's Amara Raja Energy and Mobility AMAR.NS reported a bigger-than-expected rise in second-quarter profit on Thursday, driven by increased demand from automotive manufacturers following India's tax reforms.

The company, which makes Amaron-branded car batteries, reported profit rose 25.6% to 3.02 billion rupees ($34.36 million) in the quarter ended September.

Analysts, on average, expected 2.12 billion rupees, according to data compiled by LSEG.

India announced tax cuts on hundreds of consumer items in September, ranging from soaps to small cars to spur domestic demand. As a result, Indian dealers' passenger vehicles and two-wheeler sales to customers recorded upbeat growth towards the end of the quarter.

Analysts noted that battery demand from original equipment manufacturers (OEMs) had risen following recent reductions in consumption tax.

Amara Raja, which counts top automakers, including Bajaj Auto BAJA.NS, Hero MotoCorp HROM.NS, Maruti Suzuki MRTI.NS as its clients, derives around 70% of its revenue from the automotive battery business.

The Hyderabad-based company's revenue from operations climbed 8% to 33.88 billion rupees.

The company, which also makes industrial batteries for sectors such as telecommunications and railways, said cost of materials consumed grew 11.8% in the quarter, pushing total expenses up by 10.5% to 31.29 billion rupees.

Analysts also noted that the company was affected by higher power costs.

Rival Exide Industries EXID.NS is yet to report its quarterly results.

($1 = 87.8950 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Janane Venkatraman)

((Meenakshi.Maidas@thomsonreuters.com; +91 8921483410;))

** Hero MotoCorp HROM.NS falls 3.2% to 5,365 rupees; top pct loser on Nifty auto index .NIFTYAUTO, which is down 0.5%

** Two-wheeler maker's total October sales down 6.4% y/y due to 8% y/y drop in domestic sales; exports up ~43% y/y

** Rival Bajaj Auto BAJA.NS logs 4% y/y rise in October 2-wheeler sales

** Morgan Stanley says its volume estimates for Hero MotoCorp imply 16% y/y growth for rest of FY26

** HROM and BAJA both rated "hold" on average, per data compiled by LSEG

** YTD, HROM up ~33%

(Reporting by Yagnoseni Das in Bengaluru)

((Yagnoseni.Das@thomsonreuters.com;))

Oct 13 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• ANNOUNCES ENTRY INTO ITALY

• PELPI INTERNATIONAL TO MANAGE HERO MOTOCORP DISTRIBUTION IN ITALY

Source text: ID:nBSE1xNzrl

Further company coverage: HROM.NS

((Reuters.Briefs@thomsonreuters.com;))