Hero MotoCorp Limited has designated Mr. Manish Srivastava, Chief Quality Officer (CQO), as senior management personnel effective April 1, 2026. The company made this disclosure to stock exchanges on March 19, 2026, in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Management Appointment Details

The designation represents an elevation of Mr. Srivastava's role within the organizational hierarchy. The company submitted the required disclosure documentation to both the National Stock Exchange of India Limited and BSE Limited, fulfilling its regulatory obligations under the listing regulations.

Professional Background

Mr. Srivastava brings extensive industry expertise to his elevated role. His professional credentials include:

• Over three decades of experience in automobile and engineering sectors
• More than ten years of association with Hero MotoCorp
• Engineering graduate from National Institute of Technology, Durgapur
• Previous role as National Head – Service at Hero MotoCorp
• Current designation as Chief Quality Officer since September 2023

Regulatory Compliance

The disclosure was filed by Company Secretary and Compliance Officer Prabhat Singh, who digitally signed the documents on March 19, 2026. The submission ensures compliance with SEBI regulations requiring companies to disclose changes in senior management personnel to maintain transparency with stakeholders and regulatory authorities.

Hero MotoCorp has received a positive assessment from Macquarie, with the global brokerage maintaining its Outperform rating and setting a target price of Rs 6,674. The recommendation comes amid favorable market dynamics in the automotive sector that are expected to benefit the two-wheeler manufacturer.

Market Dynamics Supporting Growth

The automotive sector is witnessing distinct trends across different segments. In the passenger vehicle space, SUV-led growth continues to drive overall market expansion, while traditional car segments are experiencing relatively weaker performance. This shift in consumer preference towards SUVs reflects changing market dynamics and consumer behavior patterns.

Two-Wheeler Segment Recovery

The two-wheeler industry is experiencing broad-based demand recovery, which bodes well for Hero MotoCorp's business prospects. Notably, scooters are outperforming motorcycles in the current market environment, indicating a shift in consumer preferences within the two-wheeler segment.

Sector Momentum

The combination of SUV-led passenger vehicle growth and the recovering two-wheeler demand creates a supportive environment for automotive manufacturers. The broad-based nature of the two-wheeler demand recovery, coupled with scooters' superior performance, contributes to the overall positive sector momentum that Macquarie expects to benefit Hero MotoCorp.

Macquarie's Outperform rating and Rs 6,674 target price reflect confidence in Hero MotoCorp's ability to capitalize on these favorable market conditions and the ongoing recovery in the two-wheeler segment.