Hyundai Motor India LimitedQuarterly Results & Financial Update
Hyundai Motor India Limited: Quarterly consolidated results and company financials – revenue ₹20,696.06 Cr, PAT ₹1,196.16 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Hyundai Motor India Quarterly quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Hyundai Motor India Limited reported consolidated revenue from operations of INR 20,696.06 crore for the quarter ended September 30, 2026, marking an 18.53% increase year-on-year from INR 17,460.82 crore and a 26.70% rise sequentially from INR 16,334.63 crore.
Consolidated profit after tax (PAT) for Q2 FY27 stood at INR 1,196.16 crore, reflecting a 23.92% decline year-on-year compared to INR 1,572.26 crore, though it improved by 34.61% quarter-on-quarter from INR 888.62 crore.
Total sales volumes reached a record 219,072 units during the quarter, representing growth of 14.7% year-on-year and 23.0% quarter-on-quarter, driven by strong momentum in both domestic and export channels.
Domestic volume grew 18.8% year-on-year to 165,772 units, supported by record rural market penetration of 26.6% and peak quarterly CNG contribution of 19.1%.
Exports grew 3.7% year-on-year and 37.7% sequentially to 53,300 units (inclusive of CBU and CKD), demonstrating resilience despite ongoing geopolitical challenges in overseas markets.
Profitability was weighed down by elevated raw material and commodity costs, which exerted pressure on margins compared to the same period in the previous year.
Operating leverage, favourable product and pricing mix, and ongoing internal cost-reduction initiatives helped improve EBITDA margin sequentially to 9.5% from 9.3% in Q1 FY27, compared to 13.9% in Q2 FY26.
01 · Business model
What does Hyundai Motor India do?
Hyundai Motor India Limited manufactures and sells motor vehicles, engines, transmissions, and related parts, alongside after-sales operations, engineering, and broking services.
The company's primary revenue engine is passenger vehicle sales across domestic and export markets, with a diversified portfolio spanning SUVs, hatchbacks, and sedans.
Distribution is supported by extensive sales and service outlets across India, backed by manufacturing facilities located in Tamil Nadu and Maharashtra.
The operating model relies heavily on localization, product mix optimization, and continuous introduction of new vehicle architectures to sustain market share in competitive automotive segments.
02 · Historical context
What shaped the business before this quarter
By Q2 FY27, the company achieved 4 million cumulative passenger vehicle exports from India, cementing its position in overseas markets.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarterly | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹20,696.06 Cr | ₹17,460.82 Cr | ₹16,334.63 Cr |
| Total income | ₹20,920.02 Cr | ₹17,692.03 Cr | ₹16,609.00 Cr |
| Profit before tax | ₹1,617.83 Cr | ₹2,125.96 Cr | ₹1,201.65 Cr |
| Profit after tax | ₹1,196.16 Cr | ₹1,572.26 Cr | ₹888.62 Cr |
| EPS | ₹14.72 | ₹19.35 | ₹10.94 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Total sales reached an all-time high of 219,072 units in Q2 FY27, up 14.7% YoY and 23.0% QoQ.
Domestic sales expanded 18.8% YoY to 165,772 units, underpinned by all-time high rural penetration of 26.6%.
CNG vehicle contribution reached a record 19.1% of quarterly volumes, while EV mix stood at 2%.
Exports rebounded sequentially by 37.7% to 53,300 units, overcoming geopolitical headwinds.
What drove margins
Elevated raw material costs increased material cost pressure, weighing on operating margins year-on-year.
Domestic discounts moderated by 8.2% YoY to INR 23,000 per car, while average selling prices (ASP) improved 2% YoY to INR 8.07 lakh per car.
Localization levels improved from 82% to 84% YoY, supporting cost competitiveness and supply chain de-risking.
05 · Demand, customers & order book
Where demand is coming from
The sales network expanded to 1,546 outlets and service outlets increased to 1,697 by the end of Q2 FY27.
06 · Segments, products & geography
Which parts of the business are doing the work
Geography and market mix
Domestic sales accounted for 72.9% of total revenue in Q2 FY27, while exports contributed 27.1%.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The newly established Pune facility crossed 100,000 units in production within 8 months of starting operations.
Projects, capex and execution
Capital expenditure continued toward new platform introductions and manufacturing readiness for upcoming launches.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The introduction of the BAYON marked the commencement of a new product cycle featuring intelligent utility vehicle tech and Level 2 Pro ADAS.
09 · Reported developments
What changed operationally
Quarterly revenue surpassed the INR 20,000 crore milestone for the first time since inception.
10 · Pressure points & risks
What is not going smoothly
Under the Environment Protection (End-of-Life Vehicles) Rules, 2025, the company has an obligation to scrap end-for-life vehicles, though no provision has been recognized due to lack of a notified pricing mechanism for EPR certificates.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash generated from operating activities for the six months ended September 30, 2026, was INR 12,968.81 million on a standalone basis.
Capital allocation & funding
Standalone non-current borrowings stood at INR 4,261.95 million and current borrowings at INR 1,103.03 million as of September 30, 2026.
12 · Management guidance & targets
What management is targeting from here
Management expects H2 FY27 to be a period of accelerated momentum, driven by the rollout of the BAYON and preparations for launching a dedicated mass-market EV in Q4 FY27.
13 · Beyond the numbers
What changed beyond the numbers
Reported update
Technology integration
The company introduced its first-ever Gen AI voice assistant alongside Level 2 Pro ADAS features in its newer vehicle lineups.
14 · Previous-quarter changes
What changed since the previous quarter
Total sales volume rebounded by 23% sequentially in Q2 FY27 compared to Q1 FY27.
15 · Key Q&A
The quarter, answered directly
What does Hyundai Motor India do?
Hyundai Motor India Limited manufactures and sells motor vehicles, engines, transmissions, and related parts, alongside after-sales operations, engineering, and broking services.
What is the clearest takeaway from Quarterly?
Hyundai Motor India Limited reported consolidated revenue from operations of INR 20,696.06 crore for the quarter ended September 30, 2026, marking an 18.53% increase year-on-year from INR 17,460.82 crore and a 26.70% rise sequentially from INR 16,334.63 crore.
What drove revenue or demand?
Total sales reached an all-time high of 219,072 units in Q2 FY27, up 14.7% YoY and 23.0% QoQ.
What mattered most for margins or profitability?
Elevated raw material costs increased material cost pressure, weighing on operating margins year-on-year.
What changed operationally beyond the headline numbers?
The newly established Pune facility crossed 100,000 units in production within 8 months of starting operations.
What is management guiding or targeting from here?
Management expects H2 FY27 to be a period of accelerated momentum, driven by the rollout of the BAYON and preparations for launching a dedicated mass-market EV in Q4 FY27.
16 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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17 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Mass-market EV launch: Progress on the scheduled launch of the dedicated mass-market electric vehicle in Q4 FY27.
- 02
EPR framework updates: Regulatory developments regarding the pricing mechanism and operational guidelines for End-of-Life Vehicle EPR certificates.
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