Gurugram: Hyundai Motor India Limited reported a 35.1% year-on-year decline in consolidated net profit to ₹8,886 million, or ₹888.6 crore, for the first quarter of FY2026-27, as temporary production disruptions and weaker exports affected volumes and profitability.
Consolidated revenue stood at ₹163,346 million, or ₹16,334.6 crore, marginally lower than ₹164,129 million in the corresponding quarter of the previous financial year. Sequentially, revenue declined from ₹189,162 million in the fourth quarter of FY26.
The company’s earnings before interest, taxes, depreciation and amortisation, excluding other income, fell 30.8% year-on-year to ₹15,117 million. EBITDA was ₹21,852 million in Q1 FY26 and ₹19,660 million in the preceding quarter.
The EBITDA margin narrowed to 9.3%, compared with 13.3% a year earlier and 10.4% in Q4 FY26. Profit after tax also declined sequentially by 29.2% from ₹12,556 million.
The Board of Directors approved the company’s unaudited standalone and consolidated financial results for the quarter on July 30.
Production disruptions restrict domestic growth
Hyundai said temporary production disruptions limited its domestic volume growth to 5.4% year-on-year during the quarter. Its export business was also affected by the continuing conflict in West Asia.
The company expects operating conditions to improve from the second quarter following the complete normalisation of production. A healthy demand environment and planned product introductions are also expected to support recovery across domestic and export markets.
Commenting on the results, Tarun Garg, Managing Director and Chief Executive Officer of Hyundai Motor India Limited, said, “Q1 FY27 was a challenging quarter affected by multiple headwinds impacting volumes and profitability. With 100% normalization of production, coupled with healthy demand environment and upcoming product pipeline, recovery is likely to gain pace from Q2 onwards across both domestic and export businesses.
“Looking ahead, we remain committed to achieving our stated guidance of 8-10% (YoY) volume growth for both domestic & exports as well as 11-14% EBITDA margin in FY27.”
Venue, CNG models support domestic demand
Despite the broader pressure on earnings, Hyundai reported strong customer traction for the all-new Venue, which recorded its highest-ever quarterly sales in the domestic market.
CNG vehicles accounted for 18% of the company’s sales during the quarter. The Aura recorded its highest-ever CNG contribution of 95%, while the corresponding share for the Exter reached 32%.
Hyundai also reported record rural penetration of 26%, indicating that demand beyond major urban centres continued to support its domestic business.
The results come as Hyundai completes 30 years in India. The anniversary, however, arrived with a quarterly scorecard that left little room for celebratory confetti, particularly as operating margins moved below the company’s full-year target range.
For FY26, Hyundai Motor India had reported consolidated revenue of ₹707,633 million, EBITDA of ₹85,985 million and profit after tax of ₹54,315 million. Its EBITDA margin for the full financial year stood at 12.2%.
The company’s performance in the coming quarters will depend on whether restored production, new product launches and export-market stability can translate demand into stronger volumes. With Hyundai retaining its FY27 growth and margin guidance, the second quarter will provide an important test of whether the first-quarter slowdown was temporary or the start of a more demanding year for India’s passenger vehicle market.
