Hero MotoCorp Limited CC-May26.pdf · 2026-05-06
I just needed the clarifications. Firstly, on the gross margin side. In the last quarter, you did mention that 40 to 50 bps impact was expected in Q4. However, we see a sequential significant impact of over 100 bps in the gross margin. This is in spite of your earlier commentary that the ₹2,000 per unit commodity hike was adjusted with a similar price hike. So just wanted to understand if I'm missing something over here because there seems to be a disconnect. And in the near term also, you did mention that further commodity impact may be witnessed. So if any clarity could also be given there? And third, like the ₹2,000 per unit commodity price hike, if you could directionally help us understand how -- like what was this aluminium, steel or rubber prices, anything on direction basis could be shared would be really helpful?
And sir, from this ₹2,000, any directional breakup could be shared, aluminum, steel, rubber like which is the most significant, if anything could be shared?