Hyundai Motor India Q4 Revenue Rises 5.4% Despite Margin Pressure

Hyundai Motor India Ltd reported a 5.4% year-on-year increase in consolidated revenue from operations to ₹18,916.2 crore for the quarter ended March 31. This growth was driven by GST-led demand, new product launches, higher exports, and record quarterly domestic sales. However, the company's EBITDA margin narrowed to 10.4% from 14.1% a year ago, reflecting increased operating costs.

Key Highlights

• Hyundai Motor India Q4 revenue rose 5.4 percent to ₹18,916 crore year on year
• EBITDA margin narrowed to 10.4 percent from 14.1 percent in the previous year
• Domestic wholesale volumes grew 8.7 percent and exports rose 9.4 percent in Q4FY26
• Company plans two new model launches and capacity expansion to 1.14 million units by 2030

Quarterly Financial Performance

Profit after tax for the quarter declined 22.2% year-on-year to ₹1,255.6 crore, compared to ₹1,614.3 crore in the same period last year. EBITDA, excluding other income, fell 22.4% to ₹1,966 crore. Sequentially, revenue rose 5.2% from ₹17,973.5 crore in the previous quarter. PAT increased 1.7% from ₹1,234.4 crore, while EBITDA declined 2.6% from ₹2,018.3 crore and margin contracted from 11.2%.

Domestic wholesale volumes grew 8.7% year-on-year in Q4FY26, supported by GST 2.0 reforms and agile product interventions. The New Venue, produced at Hyundai’s Pune plant, remained a key growth driver and achieved a 5-star Bharat NCAP rating. Rural penetration reached a record 25% in Q4FY26, and CNG vehicles contributed 18% of quarterly sales, the highest ever, due to increased adoption and entry into the commercial mobility segment.

Annual Results and Strategic Outlook

For FY26, Hyundai Motor India’s consolidated revenue from operations rose 2.3% to ₹70,763.3 crore, up from ₹69,192.9 crore in FY25. EBITDA declined 4% to ₹8,598.5 crore, and EBITDA margin narrowed to 12.2% from 12.9%. Consolidated profit after tax fell 3.7% to ₹5,431.5 crore. Export volume for the year grew 16.4%, reinforcing Hyundai’s role as an export hub for emerging markets. The board recommended a dividend of ₹21 per share, pending shareholder approval.

Managing Director and CEO Tarun Garg stated that Hyundai expects domestic volume growth of 8-10% in FY27, supported by new product launches and network expansion. Export volume growth is also projected at 8-10%, driven by market diversification and product-led opportunities. In April, domestic volumes grew 17% year-on-year, indicating a strong start to FY27.

Capacity Expansion and Future Plans

Hyundai plans to launch two new models in FY27, including a mid-SUV and its first localised dedicated EV in the compact SUV segment. The company will expand its Pune facility by 70,000 units after Phase-II, raising total capacity to 1.14 million units by 2030. Hyundai has set a capex of ₹7,500 crore for FY27 and guided for EBITDA margins in the 11-14% range, aiming for margin expansion from current levels.