Hero MotoCorp has fixed Friday, July 24, 2026, as the record date to determine shareholder eligibility for a final dividend of ₹75 per equity share. The payout, recommended by the Board for the financial year 2025-26, is subject to shareholder approval at the upcoming Annual General Meeting. If approved, the dividend will be paid by September 04, 2026.

The 43rd Annual General Meeting (AGM) of the company is scheduled to be held on Wednesday, August 05, 2026, at 11:30 A.M. IST through Video Conference (VC) and Other Audio Visual Means (OAVM). The facility is being provided by National Securities Depository Limited (NSDL). Members participating through the VC/OAVM facility will be counted for the purpose of reckoning the quorum under Section 103 of the Companies Act, 2013.

The Board of Directors at its meeting held on May 05, 2026, recommended the final dividend of ₹75 per equity share of face value ₹2 each. The company has stated that all dividend payments will be remitted only through electronic mode, following amendments to the Listing Regulations effective from November 19, 2025, which discontinued the use of payable-at-par warrants or cheques.

Shareholders are required to ensure their email IDs, mobile numbers, signature specimens, and bank account details are updated with their respective Depository Participants or the Registrar and Share Transfer Agent to receive electronic credit. Failure to update these details will result in non-remittance of the dividend. Additionally, members must update their KYC details with the company or RTA before the record date to facilitate the payment.

The Notice of AGM and the Annual Report for FY 2025-26 will be sent via email to members whose email addresses are registered with the company or depositories as on Friday, July 03, 2026. Physical copies will be sent only upon request. The documents will also be available on the company’s website and the websites of the stock exchanges.

Key AGM and Dividend Details

Hero MotoCorp has received an Outperform rating from global brokerage CLSA, which has set a target price of ₹5,728 for the stock. The brokerage's assessment reflects a constructive view on the two-wheeler major, underpinned by several fundamental and valuation-based arguments.

El Niño Concerns Seen as Overstated

CLSA notes that market apprehensions surrounding the impact of El Niño on Hero MotoCorp's business have been exaggerated. The brokerage believes these concerns do not adequately reflect the company's demonstrated resilience and its consistent ability to deliver positive volume growth even in challenging operating environments.

Strong Operational Track Record

A key pillar of CLSA's positive stance is Hero MotoCorp's established history of maintaining robust financial performance. The company has sustained EBITDA margins in excess of 14%, which the brokerage views as a testament to its operational efficiency and pricing discipline. The following table summarises the key parameters highlighted in CLSA's assessment:

Volume Growth Outlook for FY27–28

CLSA expects Hero MotoCorp to deliver a 5% volume CAGR over FY27–28. This growth is anticipated to be supported by two primary catalysts:

• GST rate cuts, which could improve affordability and stimulate demand in the mass-market two-wheeler segment
• New scooter launches, which are expected to broaden the company's product portfolio and capture incremental market share

Valuation Perspective

The brokerage highlights that the current valuation of Hero MotoCorp's stock appears to price in an overly pessimistic outlook on both volume growth and margin sustainability. CLSA's Outperform rating and target price of ₹5,728 reflect its view that the market has not fully accounted for the company's growth potential and operational strengths, making the risk-reward profile attractive at prevailing levels.