Hyundai Motor India
Hyundai Motor India
Automobiles F&OKey Fundamentals
LargecapCars & Utility VehiclesAutomobilesTapetide Score
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Key Insights
Strengths
3- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 36.4%
- Company has been maintaining a healthy dividend payout of 26.5%
Weaknesses
2- Stock is trading at 8.83 times its book value
- The company has delivered a poor sales growth of 11.6% over past five years.
Growth Rate
AI Analysis — Bull vs Bear
Hyundai Motor India Ltd commands a market cap of ₹1,77,768 Cr with a PE of 36.3x and a 3-year ROE of 36%, reflecting strong profitability in a capital-light, near debt-free model. However, TTM profit has declined 10% and sales growth has moderated to 4% TTM, while the stock trades at 8.99x book value and has seen a 12% price decline over the past year.
- Near debt-free balance sheet provides significant financial flexibility and insulation from rising interest rate cycles
- Exceptional 3-year ROE of 36% and last-year ROE of 30% indicate highly efficient capital allocation relative to auto sector peers
- 5-year compounded profit growth of 24% demonstrates sustained earnings expansion over a meaningful period
- Consistent dividend payout ratio of 26.5% with a current yield of 0.95%, offering tangible cash returns to shareholders
- 5-year compounded sales growth of 12% reflects a solid medium-term revenue trajectory driven by SUV portfolio strength
- Market cap of ₹1,77,768 Cr positions the company as a large-cap with institutional liquidity and index inclusion benefits
- 3-year compounded sales growth of 5% and profit growth of 5% show the company maintained positive momentum even through a mixed macro environment
- Stock trades at 8.99x price-to-book, a steep premium that leaves limited margin of safety if growth disappoints
- TTM profit growth has turned negative at -10%, signaling margin pressure or rising input costs impacting near-term earnings
- PE ratio of 36.3x is elevated for an auto company with single-digit TTM sales growth of just 4%
- Stock price has declined 12% over the past 1 year, underperforming broader market indices and reflecting weakening sentiment
- TTM sales growth has decelerated sharply to 4% from the 5-year CAGR of 12%, suggesting a slowdown in volume or realization growth
- 5-year sales CAGR of approximately 11.6% is characterized as poor relative to the broader consumer discretionary and auto sector opportunity in India
- 52-week high and low data is unavailable, limiting technical visibility on support and resistance levels for risk assessment
- As a recently listed entity with limited public market track record beyond 1 year, longer-term stock CAGR data (3, 5, 10 years) is unavailable for historical return evaluation
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Price hike up to 1% in Sep Aug 19
Hyundai Motor India will raise prices up to 1% across its portfolio effective September 2026 to offset rising input costs, commodity prices, and operational expenses.
- Exports hit by vessel shortage Sep 3
August export volumes fell due to West Asia conflict and geopolitical tensions causing vessel availability issues, though management says underlying international demand remains unchanged.
- Operating margin compressed in FY26 Aug 22
Operating profitability moderated to 11.7% in FY26 from 12.6% in FY25 due to input cost pressures, as noted in the Crisil ratings reaffirmation.
- Emkay raises target to ₹2,600 Aug 26
Emkay Global upgraded its 12-month target to ₹2,600 (from ₹2,450) with a Buy rating and 16.8% implied upside, projecting volume/revenue/EPS CAGR of 11%/15%/16% over FY26-29E backed by 26 product actions including 7 new nameplates.
- Crisil reaffirms AAA/Stable rating Aug 22
Crisil reaffirmed its top-tier AAA/Stable ratings on ₹3,700 crore bank facilities, citing robust financials with ₹10,552 crore cash surplus as of March 2026 and FY27 revenue expected above ₹75,000 crore.
- Jio-bp EV charging partnership Aug 25
Partnership with Jio-bp adds over 7,000 charging points across 300+ cities, expanding Hyundai's EV charging network to 37,000+ points, with plans to grow proprietary DC fast-charging stations from 183 to 600 by 2030.
- Capacity expansion to 1.1M units Aug 26
Hyundai plans to expand production capacity to 1.1 million units per annum by FY31 from 909,000 in FY26, backed by ₹45,000 crore investment over five years in AI, automation, and EV localisation targeting 90% localisation.
- 30th AGM held on Aug 26 Aug 26
Hyundai Motor India held its 30th AGM on August 26, 2026, with shareholders approving FY26 financials, dividends, and director appointments via e-voting.
- Targets 20% women execs by 2030 Sep 7
HMIL targets 20% women in executive workforce by 2030, up from 8% currently, with 45% of 2026 young talent recruits being women and a 23% promotion rate for women in FY25-26.
- Analyst meet in Hong Kong Aug 31 Aug 25
Goldman Sachs-organized investor conference scheduled for August 31, 2026 in Hong Kong, covering publicly available information only.
TL;DR: Hyundai Motor India sits on strong financial footing with AAA-rated credit, ₹10,552 crore cash surplus, and a clear growth roadmap featuring 26 product actions and capacity expansion to 1.1M units by FY31. Key risks include margin compression from input costs (FY26 margins down to 11.7%) and near-term export disruptions from geopolitical tensions. The Emkay upgrade and aggressive EV infrastructure buildout signal improving sentiment. The trend is cautiously positive as the lean product phase ends and new launches starting with the Bayon-based SUV in September 2026 should help recover lost market share.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 16,624 | 18,660 | 16,875 | 17,671 | 17,344 | 17,260 | 16,648 | 17,940 | 16,413 | 17,461 | 17,973 | 18,916 | 16,335 |
| Expenses | 14,626 | 16,220 | 14,701 | 15,149 | 15,004 | 15,055 | 14,772 | 15,408 | 14,228 | 15,032 | 15,955 | 16,950 | 14,823 |
| Operating Profit | 1,997 | 2,440 | 2,173 | 2,522 | 2,340 | 2,205 | 1,876 | 2,533 | 2,185 | 2,429 | 2,018 | 1,966 | 1,512 |
| OPM % | 12% | 13% | 13% | 14% | 13% | 13% | 11% | 14% | 13% | 14% | 11% | 10% | 9% |
| Other Income | 388 | 383 | 369 | 333 | 224 | 192 | 244 | 210 | 215 | 231 | 244 | 259 | 274 |
| Interest | 37 | 35 | 49 | 37 | 32 | 29 | 30 | 36 | 25 | 17 | 27 | 38 | 27 |
| Depreciation | 560 | 557 | 534 | 558 | 529 | 519 | 527 | 530 | 528 | 518 | 569 | 584 | 557 |
| PBT | 1,788 | 2,232 | 1,960 | 2,260 | 2,003 | 1,850 | 1,563 | 2,175 | 1,847 | 2,126 | 1,666 | 1,604 | 1,202 |
| Tax % | 26% | 27% | 27% | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 22% | 26% |
| Net Profit | 1,329 | 1,628 | 1,425 | 1,677 | 1,490 | 1,375 | 1,161 | 1,614 | 1,369 | 1,572 | 1,234 | 1,256 | 889 |
| EPS in Rs | — | — | — | — | 18.33 | 16.93 | 14.29 | 19.87 | 16.85 | 19.35 | 15.19 | 15.45 | 10.94 |
Profit & Loss
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Sales | 40,972 | 47,378 | 60,308 | 69,829 | 69,193 | 70,763 | 70,685 |
| Expenses | 36,724 | 41,887 | 52,753 | 60,750 | 60,277 | 62,202 | 62,760 |
| Operating Profit | 4,249 | 5,491 | 7,554 | 9,079 | 8,915 | 8,561 | 7,925 |
| OPM % | 10% | 12% | 13% | 13% | 13% | 12% | 11% |
| Other Income | 430 | 582 | 1,124 | 1,527 | 908 | 986 | 1,009 |
| Interest | 165 | 132 | 142 | 158 | 127 | 106 | 109 |
| Depreciation | 1,973 | 2,170 | 2,190 | 2,208 | 2,105 | 2,198 | 2,227 |
| PBT | 2,540 | 3,772 | 6,346 | 8,240 | 7,591 | 7,243 | 6,598 |
| Tax % | 26% | 23% | 26% | 26% | 26% | 25% | — |
| Net Profit | 1,881 | 2,902 | 4,709 | 6,060 | 5,640 | 5,432 | 4,951 |
| EPS in Rs | — | — | — | — | 69.41 | 66.85 | 60.93 |
| Div. Payout % | 72% | 51% | 99% | 18% | 30% | 31% | — |
Balance Sheet
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 813 | 813 | 813 | 813 | 813 | 813 |
| Reserves | 14,499 | 16,044 | 19,242 | 9,853 | 15,484 | 19,202 |
| Borrowings | 1,354 | 1,178 | 1,189 | 833 | 850 | 1,098 |
| Other Liabilities | 10,065 | 10,324 | 13,329 | 14,850 | 12,951 | 13,292 |
| Total Liabilities | 26,731 | 28,358 | 34,573 | 26,349 | 30,097 | 34,404 |
| Fixed Assets | 7,288 | 6,671 | 6,150 | 7,614 | 7,105 | 13,070 |
| CWIP | 818 | 529 | 1,337 | 653 | 4,718 | 725 |
| Investments | 0 | 0 | 0 | 0 | 0 | 7 |
| Other Assets | 18,625 | 21,158 | 27,086 | 18,082 | 18,274 | 20,602 |
| Total Assets | 26,731 | 28,358 | 34,573 | 26,349 | 30,097 | 34,404 |
Cash Flow
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Operating | 5,423 | 5,138 | 6,564 | 9,252 | 4,345 | 7,321 |
| Investing | -2,224 | -910 | -1,383 | -10,090 | -410 | -1,864 |
| Financing | 143 | -1,662 | -1,579 | -15,930 | -63 | -1,591 |
| Net Cash Flow | 3,342 | 2,566 | 3,602 | -16,768 | 3,872 | 3,866 |
| Free Cash Flow | 2,844 | 3,885 | 4,315 | 6,020 | -948 | 3,070 |
| CFO/OP | 149 | 108 | 115 | 127 | 71 | 103 |
Ratios
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor Days | 22 | 17 | 18 | 13 | 13 | 11 |
| Inventory Days | 30 | 29 | 28 | 23 | 25 | 26 |
| Days Payable | 71 | 55 | 60 | 53 | 52 | 52 |
| Cash Conversion Cycle | -19 | -9 | -15 | -16 | -14 | -15 |
| Working Capital Days | -29 | -25 | -27 | -31 | -20 | -20 |
| ROCE % | — | 23% | 33% | 51% | 54% | 38% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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46 extracted metrics + investor summaries across FY21–FY27.
Documents
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Company Information
Incorporated in May 1996, Hyundai Motor India Limited is a part of the Hyundai Motor Group, which is the third largest auto original equipment manufacturer in the world based on passenger vehicle sales.[1]
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