Hyundai Motor India's shares edged up 0.3% to ₹1,866.90 after the automaker reported Q2 FY27 revenue of ₹20,696 crore—a 18.5% YoY rise. EBITDA slipped 19% to ₹1,975 crore, below the ₹2,028 consensus, and net profit slid 24% to ₹1,196 crore.
Commodity costs surged by 250 basis points quarter‑on‑quarter, yet a modest 0.4% price hike in September 2026 and tighter operating leverage helped EBITDA margin inch up 29 basis points to 9.5%—still 22 bps below estimates.
Total volumes climbed 14.7% YoY to 2.19 lakh units, yet the automaker still trails peers. Management remains confident in hitting its 8–10% domestic sales growth guidance for FY27 and aims for high‑double‑digit export growth in the second half, eyeing 30% exports by the end of the decade.
Nomura, maintaining a Buy rating, cites a new product cycle that could drive double‑digit volume growth over the next two years. It values the stock at roughly 17× FY29 EPS, projecting a 31% CAGR in EPS through FY27–29, and sees the upcoming mass‑market EV as a key catalyst.
CLSA, meanwhile, keeps an Outperform rating with a ₹2,300 target and logs the 9.5% EBITDA margin as a 29‑basis‑point sequential gain. It expects a flat commodity basket in H2 FY27, better export conditions, and margin normalisation from 10.5% to 14% by FY29, aligning with its 11% FY27 guidance.