Hero MotoCorp marks down Zero Motorcycles stake 92% after dilution to 0.8%
Hero MotoCorp's carrying value in US-based Zero Motorcycles fell 92% to ₹19 crore in FY26 after its stake was diluted from 6.9% to 0.8%, triggering a ₹222 crore fair value loss. The setback contrasts sharply with its 30% Ather Energy stake, now valued at over ₹13,000 crore against ₹1,700 crore invested.
Hero MotoCorp marked down its Zero Motorcycles stake 92% to ₹19 crore after dilution to 0.8%, its first EV-investment setback, contrasting with its lucrative 30% Ather Energy stake now worth over ₹13,000 crore.
Why this matters
The Zero Motorcycles writedown adds to Hero MotoCorp's mixed startup portfolio, following its ₹325-crore FY26 loss on Ather, Euler and Hero FinCorp bets, even as Ather's valuation soars.
Retail-company signals are accelerating, up 790300% QoQ.
Also reported by
- Mint — Same time