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Revenue
₹18,916.2 Cr
verified against source
Revenue YoY
5.4%
reported change
EBITDA
₹1,966 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Hyundai Motor India reported Q4 FY26 revenue of ₹18,916 crore, up 5.4% YoY, driven by record domestic volumes (166,578 units, +8.5% YoY) and export growth of 9.4%. However, EBITDA margin contracted 370 bps YoY to 10.4% due to elevated commodity costs, capacity addition expenses, and unfavorable mix. PAT fell 22% to ₹1,256 crore. Management guided for FY27 domestic and export volume growth of 8-10% each, supported by two new SUV launches (one EV, one ICE) and a record capex of ₹7,500 crore. Margins are expected to remain within the 11-14% range, aided by price hikes, cost optimization, and improved Chennai plant utilization. Key risk: sustained geopolitical disruptions in the Middle East could pressure export volumes.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects domestic sales to grow 8-10% year-on-year, outpacing industry growth of 4-6%.
- Despite geopolitical uncertainties, export volumes are guided to grow 8-10% in FY27.
- Management reiterated its margin guidance of 11-14% for FY27, supported by volume growth, price hikes, and cost optimization.
- Record capital expenditure planned, with 45-50% for new products and ~30% for plant expansion and upgrades.
Risks flagged
- Export volumes to the Middle East have been impacted by the ongoing war, and further escalation could hinder export growth targets.
- Elevated commodity prices caused a 120 bps sequential margin impact in Q4, and near-term headwinds are expected to persist.
- The upcoming dedicated EV may have lower margins than ICE models, and its success in a high-volume segment is unproven.
- The Pune plant is currently operating at two shifts; adding a third shift or ramping up volumes may be needed to absorb fixed costs.
Key quotes
- We are very confident that we will be able to outpace the industry in this fiscal and gain market share.
- The upcoming EV will mark our entry into a new segment while the ICE SUV will further reinforce our position in the mid SUV category.
- We have been taking some calibrated price increases... broadly this should take care of the whole profitability.
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