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Hero MotoCorp reported strong Q1 FY27 results with 36% revenue growth to INR12,999 Cr and 23% volume growth. EBITDA reached INR1,727 Cr (13.3% margin) despite commodity inflation, mitigated by product mix and cost efficiency. EV wholesale volumes surged 151% and capacity is tripling to 45,000 units/month by year-end. ICE scooters gained 2.3% market share. New flex-fuel models and EV variants launched. Management is confident on sustained demand, targeting 14-16% EBITDA margins mid-term. Exports grew over 60%. Electric motorcycles are slated for launch next year. Sentiment: Confident on strategic growth areas and market momentum.