The shares of Hyundai Motor India Ltd. jumped as high as 5.73% in trade on Thursday, after the automaker posted record sales in the second quarter of fiscal year 2027.
The stock rose to a high of Rs 1,973.50 apiece before paring gains and trading 3.9% higher at Rs 1,939.9 as of 10:02 a.m. on the NSE. This compares to a 0.28% advance in the Nifty index.
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Hyundai Motor India Q2 Results: Record Sales, But Profitability Takes A Hit
Hyundai Motor India reported revenue of Rs 20,696 crore for the September quarter, up 18.5% year-on-year. Standalone net profit declined 23.9% to Rs 1,196 crore, while EBITDA fell 18.7% to Rs 1,974 crore.
The EBITDA margin contracted to 9.5% from 13.9% a year earlier, as higher commodity costs weighed on operating profitability.
Total quarterly sales reached a record 219,072 units, up 15% year-on-year and 23% sequentially. Domestic volumes rose 19% year-on-year, rural penetration reached a record 26.6%, and CNG contribution hit 19.1%. Exports grew 4% year-on-year and 38% sequentially.
Electric vehicles and new models could help sustain the momentum, but the central challenge remains converting higher sales into stronger earnings.
Brokerage Takes
Morgan Stanley Sees A Sharp H2 Recovery
Morgan Stanley has maintained its Overweight rating with a target price of Rs 2,438. It expects a sharp recovery in second-half FY27 margins, volumes and market share, supported by what it describes as a strong product cycle led by the Bayon and a new electric SUV.
Elara Capital Bets On Market-Share Recovery
Elara Capital has retained its Buy rating but reduced its target price to Rs 2,400 from Rs 2,509. It expects the Bayon launch, a dedicated mass-market EV planned for Q4 FY27, improving capacity utilisation and cost efficiencies to support a recovery.
The brokerage expects EBITDA growth of around 34% year-on-year in H2 FY27, aided by a low base. It also expects second-half margins to move above 12%, consistent with management's full-year margin guidance of around 11%.
Emkay Cuts Target, But Retains Buy
Emkay has retained its Buy rating while cutting its target price by around 12% to Rs 2,300 from Rs 2,600. It expects the Bayon and upcoming electric SUV to strengthen Hyundai's portfolio, with higher-margin exports, Tamil Nadu incentives, price increases and cost reductions helping offset commodity pressures.
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