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Hyundai Motor India Q2 FY27 results: net profit down 23.9% to ₹1,196 crore, revenue up 18.5%
Hyundai Motor India Ltd reported consolidated revenue of ₹20,696 crore in Q2 FY27, up 18.5% from Q2 FY26, while net profit fell 23.9% to ₹1,196 crore and EBITDA margin declined to 9.5%. Against Q1 FY27, revenue rose 26.7% and net profit rose 34.6%, but the year-on-year margin remained below the previous year.
Key points
- Consolidated Q2 FY27 revenue was ₹20,696 crore, up 18.5% from Q2 FY26 and 26.7% from Q1 FY27.
- EBITDA was ₹1,974 crore, down 18.7% from Q2 FY26 but up 30.6% from Q1 FY27; EBITDA margin was 9.5% against 13.9% and 9.3%, respectively.
- Net profit was ₹1,196 crore, down 23.9% from Q2 FY26 and up 34.6% from Q1 FY27; basic EPS was ₹14.72.
- H1 FY27 revenue was ₹37,030.69 crore, up 9.3% from H1 FY26, while net profit fell 29.1% to ₹2,084.78 crore.
- Management maintained 8-10% domestic sales growth guidance for FY27 and an 11% EBITDA margin target, while targeting double-digit export growth.
How did Hyundai Motor India perform in Q2 FY27?
Hyundai Motor India reported consolidated revenue of ₹20,696 crore for Q2 FY27, compared with ₹17,461 crore in Q2 FY26 and ₹16,335 crore in Q1 FY27. Total income was ₹20,920.01 crore, up 18.2% from Q2 FY26 and 26.0% from Q1 FY27. EBITDA was ₹1,974 crore, down 18.7% from Q2 FY26 but up 30.6% from Q1 FY27.
The consolidated EBITDA margin was 9.5% in Q2 FY27, compared with 13.9% in Q2 FY26 and 9.3% in Q1 FY27. Profit before tax was ₹1,618 crore, down 23.9% from Q2 FY26 and up 34.6% from Q1 FY27. Net profit was ₹1,196 crore, against ₹1,572 crore and ₹888.62 crore, respectively.
Basic EPS was ₹14.72 in Q2 FY27, compared with ₹19.35 in Q2 FY26 and ₹10.94 in Q1 FY27. On a standalone basis, revenue was ₹20,191.02 crore and profit after tax was ₹1,188.56 crore. The company’s filing also presented standalone and consolidated results for the quarter and half year ended 30 September 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 20,696 | 16,335 | 17,461 | +18.5% | +26.7% |
| Other income | 223.96 | 274.37 | 231.21 | −3.1% | −18.4% |
| Total expenses | 19,302 | 15,407 | 15,566 | +24.0% | +25.3% |
| EBITDA | 1,974 | 1,512 | 2,429 | −18.7% | +30.6% |
| EBITDA margin | 9.5% | 9.3% | 13.9% | −4.4 pp | +0.2 pp |
| Profit before tax | 1,618 | 1,202 | 2,126 | −23.9% | +34.6% |
| Tax | 421.67 | 313.03 | 553.71 | −23.8% | +34.7% |
| Net profit | 1,196 | 888.62 | 1,572 | −23.9% | +34.6% |
| EPS (₹) | 14.72 | 10.94 | 19.35 | −23.9% | +34.6% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Hyundai Motor India's costs and profit?
Cost of materials rose 29.1% from Q2 FY26 to ₹15,731 crore, compared with revenue growth of 18.5%. Total expenses increased 24.0% to ₹19,302 crore, including higher employee cost of ₹752.26 crore, finance costs of ₹25.24 crore, depreciation of ₹555.37 crore and other expenses of ₹2,689 crore.
Other income fell 3.1% from Q2 FY26 to ₹223.96 crore, while tax expense fell 23.8% to ₹421.67 crore. There was no exceptional item in either Q2 FY27 or Q2 FY26. The filing showed discounted domestic sales and improved average selling price, with domestic discounts down 8.2% and average selling price up 2% year on year.
Against Q1 FY27, cost of materials rose 32.3% to ₹15,731 crore and other expenses rose 22.3% to ₹2,689 crore. Other income fell 18.4% to ₹223.96 crore, while tax rose 34.7% to ₹421.67 crore. EBITDA nevertheless rose 30.6% to ₹1,974 crore, with margin increasing 0.2 percentage points to 9.5%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 15,731 | 12,183 | +3,548 | +29.1% |
| Employee cost | 752.26 | 618.14 | +134.12 | +21.7% |
| Finance costs | 25.24 | 16.66 | +8.58 | +51.5% |
| Depreciation | 555.37 | 517.51 | +37.86 | +7.3% |
| Other expenses | 2,689 | 2,160 | +528.55 | +24.5% |
| Total expenses | 19,302 | 15,566 | +3,736 | +24.0% |
| Other income | 223.96 | 231.21 | −7.25 | −3.1% |
| Tax | 421.67 | 553.71 | −132.04 | −23.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹37,030.69 crore, up 9.3% from ₹33,873.70 crore in H1 FY26. Total income was ₹37,529.02 crore, up 9.4%, while profit before tax fell 29.0% to ₹2,819.49 crore from ₹3,973.16 crore.
Net profit for the first half was ₹2,084.78 crore, down 29.1% from ₹2,941.49 crore in H1 FY26. Basic EPS was ₹25.66, compared with ₹36.20. The filing reported H1 FY27 revenue of ₹370,307 million, EBITDA of ₹23,737 million and net profit of ₹20,848 million.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 37,031 | 33,874 | +9.3% |
| Profit before tax | 2,819 | 3,973 | −29.0% |
| Net profit | 2,085 | 2,941 | −29.1% |
| EPS (₹) | 25.66 | 36.20 | −29.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹35,811.01 crore, compared with ₹34,404.26 crore at 31 March 2026. Total equity was ₹20,374.66 crore, while borrowings fell to ₹536.5 crore from ₹996.5 crore and cash declined to ₹4,132.21 crore from ₹8,711.67 crore. Inventories were ₹4,733.19 crore, trade receivables ₹3,414.56 crore and trade payables ₹7,794.67 crore.
H1 FY27 operating cash flow was ₹1,389.96 crore, compared with ₹2,299.86 crore in H1 FY26. Investing cash flow was negative ₹3,744.63 crore against ₹151.68 crore, financing cash flow was negative ₹2,198.43 crore against negative ₹1,726.27 crore, and capital expenditure was ₹2,380.5 crore compared with ₹2,599.98 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 35,811 | 34,404 |
| Total equity | 20,375 | 20,015 |
| Borrowings | 536.50 | 996.50 |
| Cash and equivalents | 4,132 | 8,712 |
| Inventories | 4,733 | 3,594 |
| Trade receivables | 3,415 | 2,194 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 1,390 | 2,300 |
| Cash from investing | −3,745 | 151.68 |
| Cash from financing | −2,198 | −1,726 |
| Capital expenditure | 2,380 | 2,600 |
Source: Company's results filing (XBRL).
How has Hyundai Motor India done over the last 8 quarters?
Revenue reached its highest level of the listed series in Q2 FY27 at ₹20,696.06 crore, above ₹18,916.15 crore in Q4 FY26 and ₹16,412.88 crore in Q1 FY26. Net profit peaked at ₹1,614.35 crore in Q4 FY25, while the latest figure was ₹1,196.16 crore in Q2 FY27.
The EBITDA margin peaked at 14.1% in Q4 FY25 and fell to 10.4% in Q4 FY26 and 9.3% in Q1 FY27 before rising to 9.5% in Q2 FY27. Revenue declined from ₹18,916.15 crore in Q4 FY26 to ₹16,334.63 crore in Q1 FY27, then rose to ₹20,696.06 crore in the latest quarter.
What else did the company announce?
On 28 October 2026, the board approved the un-audited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, along with the limited review report. The same-day investor presentation was filed under the company’s investor communications, and the company also provided a link to the earnings call audio recording. The available same-day filings do not state a dividend, fund raise or appointment.
What did Hyundai Motor India's management say?
Management maintained domestic sales growth guidance of 8-10% for FY27, citing festive demand, the Pune third shift and two new models. It said exports were now targeted for double-digit year-on-year growth in FY27 and high-double-digit growth in H2, while also identifying geopolitical conflict and shipping disruption in the Middle East and Red Sea as export risks.
How did Hyundai Motor India shares react?
After the filing appeared, Hyundai Motor India’s shares fell 3.0% within five minutes, 2.2% within 15 minutes and 2.2% within 30 minutes. The stock closed the reaction day up 0.3% from its pre-results close, and by the next day’s close it was up 3.4% from that pre-results close; by five sessions, it was up 10.9%.
On the reaction day, the industry median was up 0.8%, while Hyundai Motor India underperformed it by 0.5 percentage points. By the next day’s close, the stock was 2.7 percentage points above the industry median, and by five sessions it was 6.6 percentage points above the median. Earlier result-day moves were 2.4%, negative 0.5%, negative 0.3%, 0.2%, negative 1.2% and negative 0.1%.
| After the filing | Stock | Passenger Cars & Utility Vehicles median |
|---|---|---|
| 5 minutes | −3.0% | |
| 15 minutes | −2.2% | |
| 30 minutes | −2.2% | |
| Reaction day | +0.3% | +0.8% |
| Next day | +3.4% | +0.7% |
| 5 days | +10.9% | +4.3% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 30 July 2026 | +2.4% |
| 8 May 2026 | −0.5% |
| 30 July 2025 | −0.3% |
| 16 May 2025 | +0.2% |
| 28 January 2025 | −1.2% |
| 12 November 2024 | −0.1% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Hyundai Motor India's revenue in Q2 FY27?
Revenue from operations was ₹20,696 crore, up 18.5% from ₹17,461 crore in Q2 FY26 (consolidated).
Did Hyundai Motor India make a profit in Q2 FY27?
Yes. Net profit was ₹1,196 crore, against a net profit of ₹1,572 crore in Q2 FY26.
What was Hyundai Motor India's EPS in Q2 FY27?
Basic earnings per share were ₹14.72, against ₹19.35 in Q2 FY26.
How did Hyundai Motor India shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.3% from the previous close; the median Passenger Cars & Utility Vehicles stock moved +0.8%.
When did Hyundai Motor India announce its Q2 FY27 results?
On 28 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Un-Audited Financial Results Of The Company (Standalone And Consolidated) For The Quarter And Half Year Ended September 30,2026 (BSE, 21 October 2026) · PDF
- Outcome of Board Meeting (NSE, 28 October 2026) · PDF
- The earnings call (28 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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