{"id":332149,"date":"2026-10-29T13:41:57","date_gmt":"2026-10-29T08:11:57","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=332149"},"modified":"2026-10-29T13:41:57","modified_gmt":"2026-10-29T08:11:57","slug":"hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/","title":{"rendered":"Hyundai Motor India Share Price Rises Despite a 23.9% Profit Fall: What Brokerages Say After Q2 FY27 Results"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>At 12:36 PM IST on 29 Oct 2026, Hyundai Motor India traded at Rs 1,917 on the NSE, up 2.68% from Rs 1,866.90 after touching Rs 1,973.80 (up 5.7%) in early trade, as Q2 FY27 net profit fell 23.9% to Rs 1,196.5 crore while revenue rose 18.5% to Rs 20,696 crore and quarterly volume hit a record 219,072 units.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The Hyundai Motor India share price rose after Q2 FY27 because record volumes and a margin recovery plan outweighed a 23.9% fall in net profit to Rs 1,196.5 crore. Revenue grew 18.5% to Rs 20,696 crore and sales hit a record 219,072 units, but the EBITDA margin dropped to 9.5% from 13.9% as raw material costs rose. Most brokerages kept Buy ratings with target prices of Rs 2,200 to Rs 2,500, while Jefferies kept Underperform with Rs 1,630. These are brokerage opinions, and this article is educational and not a recommendation.<\/p>\n<\/p><\/div>\n<p>A stock that rises after a profit fall confuses many investors, so it helps to look at what the market is pricing. This article explains why the Hyundai Motor India share price moved up after the Q2 FY27 results, how the margin squeeze and the record volumes fit together, what each brokerage said, and which risks remain, using prices at 12:36 PM IST.<\/p>\n<p>Three flags. The 5% gain in headlines is the early-trade high of Rs 1,973.80, and the stock is up about 2.7% at the time of writing. The year-ago revenue base appears as Rs 17,156 crore in one report and Rs 17,460.8 crore in another, and standalone figures differ slightly from consolidated ones. The brokerage table below comes from a single report that I could not cross-check, so verify the targets before relying on them. It is educational and not advice.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#Hyundai_Motor_India_Share_Price_Today_Snapshot_After_the_Q2_Results\" title=\"Hyundai Motor India Share Price Today: Snapshot After the Q2 Results\">Hyundai Motor India Share Price Today: Snapshot After the Q2 Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#Hyundai_Motor_India_Share_Price_and_the_Q2_FY27_Numbers_Revenue_Up_Profit_Down\" title=\"Hyundai Motor India Share Price and the Q2 FY27 Numbers: Revenue Up, Profit Down\">Hyundai Motor India Share Price and the Q2 FY27 Numbers: Revenue Up, Profit Down<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#Why_the_EBITDA_Margin_Matters_for_the_Hyundai_Motor_India_Share_Price\" title=\"Why the EBITDA Margin Matters for the Hyundai Motor India Share Price\">Why the EBITDA Margin Matters for the Hyundai Motor India Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#Record_Volumes_and_Rural_Demand_Behind_the_Hyundai_Motor_India_Share_Price\" title=\"Record Volumes and Rural Demand Behind the Hyundai Motor India Share Price\">Record Volumes and Rural Demand Behind the Hyundai Motor India Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#What_Brokerages_Say_About_the_Hyundai_Motor_India_Share_Price_After_Q2\" title=\"What Brokerages Say About the Hyundai Motor India Share Price After Q2\">What Brokerages Say About the Hyundai Motor India Share Price After Q2<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#What_to_Watch_Next_for_the_Hyundai_Motor_India_Share_Price\" title=\"What to Watch Next for the Hyundai Motor India Share Price\">What to Watch Next for the Hyundai Motor India Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#Risks_Around_the_Hyundai_Motor_India_Share_Price\" title=\"Risks Around the Hyundai Motor India Share Price\">Risks Around the Hyundai Motor India Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#Conclusion_Read_the_Hyundai_Motor_India_Share_Price_Reaction_as_a_Bet_on_Margin_Recovery\" title=\"Conclusion: Read the Hyundai Motor India Share Price Reaction as a Bet on Margin Recovery\">Conclusion: Read the Hyundai Motor India Share Price Reaction as a Bet on Margin Recovery<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#Why_did_the_Hyundai_Motor_India_share_price_rise_when_Q2_profit_fell_239\" title=\"Why did the Hyundai Motor India share price rise when Q2 profit fell 23.9%?\">Why did the Hyundai Motor India share price rise when Q2 profit fell 23.9%?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#What_was_the_Hyundai_Motor_India_EBITDA_margin_in_Q2_FY27\" title=\"What was the Hyundai Motor India EBITDA margin in Q2 FY27?\">What was the Hyundai Motor India EBITDA margin in Q2 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#What_are_the_brokerage_target_prices_for_the_Hyundai_Motor_India_share_price\" title=\"What are the brokerage target prices for the Hyundai Motor India share price?\">What are the brokerage target prices for the Hyundai Motor India share price?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#Which_brokerage_is_negative_on_the_Hyundai_Motor_India_share_price\" title=\"Which brokerage is negative on the Hyundai Motor India share price?\">Which brokerage is negative on the Hyundai Motor India share price?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#How_were_Hyundai_Motor_India_sales_volumes_in_Q2_FY27\" title=\"How were Hyundai Motor India sales volumes in Q2 FY27?\">How were Hyundai Motor India sales volumes in Q2 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#What_is_the_FY27_guidance_behind_the_Hyundai_Motor_India_share_price\" title=\"What is the FY27 guidance behind the Hyundai Motor India share price?\">What is the FY27 guidance behind the Hyundai Motor India share price?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#Is_5_the_actual_rise_in_the_Hyundai_Motor_India_share_price_today\" title=\"Is 5% the actual rise in the Hyundai Motor India share price today?\">Is 5% the actual rise in the Hyundai Motor India share price today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/hyundai-motor-india-share-price-rises-despite-23-9-percent-profit-fall-what-brokerages-say-after-q2-fy27-results\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Hyundai_Motor_India_Share_Price_Today_Snapshot_After_the_Q2_Results\"><\/span><strong>Hyundai Motor India Share Price Today: Snapshot After the Q2 Results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Hyundai Motor India share price: item (NSE, 12:36 PM IST)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Value<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Hyundai Motor India share price: last price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,917, up 2.68%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Previous close (28 Oct)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,866.90<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Day open, high and low<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,908, Rs 1,973.80 and Rs 1,888.10<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gain at the day&#8217;s high<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 5.7% (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">52-week range<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,658 to Rs 2,468<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Distance below the 52-week high<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 22% (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Year to date (28 Oct close)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down about 19%<\/td>\n<\/tr>\n<\/table>\n<p>The Hyundai Motor India share price opened higher, ran up to Rs 1,973.80 and then eased to Rs 1,917, so part of the early gain has already faded. The stock remains about 22% below its 52-week high of Rs 2,468 and about 16% above its 52-week low of Rs 1,658 (my calculations), which shows how much of the optimism of last November has been given up this year.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Track the Hyundai Motor India share price and set alerts on Univest<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Hyundai_Motor_India_Share_Price_and_the_Q2_FY27_Numbers_Revenue_Up_Profit_Down\"><\/span><strong>Hyundai Motor India Share Price and the Q2 FY27 Numbers: Revenue Up, Profit Down<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Hyundai Motor India share price: Q2 FY27 item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q2 FY27<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Comparison<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue from operations<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 20,696 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 18.5% year on year<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,196.5 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 23.9% from Rs 1,572.25 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,975 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 18.7% from Rs 2,428.9 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">9.5%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Against 13.9% a year earlier and 9.3% in Q1 FY27<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total volume<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">219,072 units<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 14.8%, the highest quarterly sales<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">H1 FY27 net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,084.8 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 29.1%<\/td>\n<\/tr>\n<\/table>\n<p>The gap between revenue growth of 18.5% and profit growth of minus 23.9% is the whole story of the quarter. Total expenses rose about 24% while revenue rose 18.5%, and the company attributes the difference to higher raw material costs. Employee costs also rose year on year because the Pune plant was not running in the year-ago quarter.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Hyundai Motor India and other auto stocks.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_the_EBITDA_Margin_Matters_for_the_Hyundai_Motor_India_Share_Price\"><\/span><strong>Why the EBITDA Margin Matters for the Hyundai Motor India Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Hyundai Motor India share price: margin item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Detail<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA margin, Q2 FY27<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">9.5%, up slightly from 9.3% in Q1<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Raw material impact<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 400 bps year on year and about 250 bps from the previous quarter<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Employee cost<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">3.6% of revenue, down from 4.6% in Q1<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Domestic discounts<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 23,000 per car, down 8.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Average selling price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 8.07 lakh, up 2%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">FY27 EBITDA margin guidance<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">11% to 14%<\/td>\n<\/tr>\n<\/table>\n<p>A margin of 9.5% sits below the bottom of the full-year guidance of 11% to 14%, so the second half has to average well above it for the company to meet the range. Management says it has absorbed much of the cost increase and will raise prices if commodity costs stay high. Copper was named as a cost that continues to rise.<\/p>\n<p>The market is therefore paying for a recovery, not for the profit just reported. One analyst view cited in the report sees the EBITDA margin returning to about 12% in H2 FY27 as higher volumes spread fixed costs and costs are controlled. That is a forecast, and the Hyundai Motor India share price will react to whether Q3 shows the first step up.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Record_Volumes_and_Rural_Demand_Behind_the_Hyundai_Motor_India_Share_Price\"><\/span><strong>Record Volumes and Rural Demand Behind the Hyundai Motor India Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Hyundai Motor India share price: volume item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q2 FY27<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Domestic sales<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">165,772 units, up 18.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Exports<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">53,300 units, up 3.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">SUV share of domestic sales<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">67% (111,756 units)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rural share of domestic sales<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">A record 26.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">CNG share<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">A record 19.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Localisation<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">84%, up from 82%<\/td>\n<\/tr>\n<\/table>\n<p>Sales volume was the strongest part of the quarter. Domestic volume grew nearly 19% and exports grew 3.7% year on year, and the company kept its FY27 domestic volume growth guidance of 8% to 10%. The managing director said rural demand has not slowed over the past six weeks and expects rural growth to beat urban growth, which supports the volume story behind the Hyundai Motor India share price.<\/p>\n<p>Growth drivers named by the company and analysts include the Bayon SUV launch, a mass-market EV planned for Q4 FY27, and expansion at the Talegaon plant in Pune. Localisation of 84% should also help cost control over time, because more local parts reduce exposure to import prices.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Brokerages_Say_About_the_Hyundai_Motor_India_Share_Price_After_Q2\"><\/span><strong>What Brokerages Say About the Hyundai Motor India Share Price After Q2<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Hyundai Motor India share price: brokerage<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Rating<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Target price<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Gap to Rs 1,917 (my calculation)<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nuvama<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,500<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About +30.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nirmal Bang<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy (upgraded)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,448<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About +27.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Morgan Stanley<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Overweight<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,438<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About +27.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Elara Capital<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,400<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About +25.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Motilal Oswal<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,300<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About +20.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Emkay<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy (target cut from Rs 2,600)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,300<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About +20.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Citi<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy (target cut from Rs 2,350)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 2,200<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About +14.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Jefferies<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Underperform (target cut from Rs 1,725)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,630<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About -15.0%<\/td>\n<\/tr>\n<\/table>\n<p>Seven of the eight brokerages in this report kept a positive rating, but two of them cut their targets after the weak quarter, Emkay by Rs 300 and Citi by Rs 150. Morgan Stanley expects a strong H2 FY27 recovery in volume, margin and market share, and Citi says domestic demand guidance points to a better recovery despite the weak Q2.<\/p>\n<p>Jefferies is the outlier. It cut its target to Rs 1,630 and stays at Underperform, citing rising competition in the Indian auto market, especially in SUVs. For a reader comparing the Hyundai Motor India share price with these targets, the spread from Rs 1,630 to Rs 2,500 is the point: brokerages disagree on how fast margins recover and how much competition limits volume.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next_for_the_Hyundai_Motor_India_Share_Price\"><\/span><strong>What to Watch Next for the Hyundai Motor India Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Hyundai Motor India share price: what to watch<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Why it matters<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Q3 FY27 EBITDA margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Needs to move toward the 11% to 14% guidance<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Commodity prices, mainly copper<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Raw material cost drove about 400 bps of pressure<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Bayon SUV launch response<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Management calls it the start of a product cycle<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price increases<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Management says it will raise prices if costs persist<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rural and export demand<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rural share is a record 26.6%; exports grew only 3.7%<\/td>\n<\/tr>\n<\/table>\n<p>Tracking the same five items each quarter is simpler than reacting to every headline. If margin improves while volume holds, the Hyundai Motor India share price has a reason to hold its gains, and if margin stays near 9.5% the early optimism may fade.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_Around_the_Hyundai_Motor_India_Share_Price\"><\/span><strong>Risks Around the Hyundai Motor India Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><strong>Margin pressure.<\/strong> For the Hyundai Motor India share price, the EBITDA margin of 9.5% is below the 11% to 14% guidance, and commodity costs may keep rising.<\/li>\n<li><strong>Competition.<\/strong> Jefferies cites rising competition, especially in SUVs, which can limit volume and pricing.<\/li>\n<li><strong>Target cuts.<\/strong> Emkay and Citi cut targets after Q2, and more cuts can follow if margins do not recover.<\/li>\n<li><strong>Valuation and sentiment.<\/strong> The Hyundai Motor India share price is down about 19% this year, and a miss in H2 can add to that.<\/li>\n<li><strong>Export growth.<\/strong> Exports grew only 3.7% year on year, so volume growth depends on domestic demand.<\/li>\n<li><strong>Source differences.<\/strong> Revenue base figures and brokerage targets differ by report, so check the filing and the notes themselves.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_Read_the_Hyundai_Motor_India_Share_Price_Reaction_as_a_Bet_on_Margin_Recovery\"><\/span><strong>Conclusion: Read the Hyundai Motor India Share Price Reaction as a Bet on Margin Recovery<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Hyundai Motor India share price rose because volumes were a record and management pointed to better margins in the second half, even though profit fell 23.9%. Brokerages are split, with seven positive ratings and one Underperform, so the sensible step is to compare targets with the margin trend and your own risk profile.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_the_Hyundai_Motor_India_share_price_rise_when_Q2_profit_fell_239\"><\/span><strong>Why did the Hyundai Motor India share price rise when Q2 profit fell 23.9%?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose 18.5% to Rs 20,696 crore and volume hit a record 219,072 units, while management and analysts pointed to a margin recovery in H2 FY27. The profit fall came from higher raw material costs, which the market treated as temporary.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_was_the_Hyundai_Motor_India_EBITDA_margin_in_Q2_FY27\"><\/span><strong>What was the Hyundai Motor India EBITDA margin in Q2 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It was 9.5%, down from 13.9% a year earlier and up from 9.3% in Q1 FY27. Raw material costs caused about 400 bps of the year-on-year drop, and full-year guidance is 11% to 14%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_brokerage_target_prices_for_the_Hyundai_Motor_India_share_price\"><\/span><strong>What are the brokerage target prices for the Hyundai Motor India share price?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Targets range from Rs 1,630 (Jefferies, Underperform) to Rs 2,500 (Nuvama, Buy). Morgan Stanley set Rs 2,438, Elara Rs 2,400, Motilal Oswal and Emkay Rs 2,300 each, and Citi Rs 2,200.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_brokerage_is_negative_on_the_Hyundai_Motor_India_share_price\"><\/span><strong>Which brokerage is negative on the Hyundai Motor India share price?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Jefferies kept an Underperform rating and cut its target to Rs 1,630 from Rs 1,725. It cites rising competition in the Indian auto market, especially in SUVs.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_were_Hyundai_Motor_India_sales_volumes_in_Q2_FY27\"><\/span><strong>How were Hyundai Motor India sales volumes in Q2 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Total volume was 219,072 units, up 14.8%, the highest quarterly sales. Domestic sales were 165,772 units (up 18.8%) and exports 53,300 units (up 3.7%), with SUVs at 67% of domestic sales.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_FY27_guidance_behind_the_Hyundai_Motor_India_share_price\"><\/span><strong>What is the FY27 guidance behind the Hyundai Motor India share price?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Management kept domestic volume growth guidance at 8% to 10% and EBITDA margin guidance at 11% to 14%. It expects an improved margin trajectory in the second half but gave no recovery timeline.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_5_the_actual_rise_in_the_Hyundai_Motor_India_share_price_today\"><\/span><strong>Is 5% the actual rise in the Hyundai Motor India share price today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. The 5% figure is the early-trade high of Rs 1,973.80 against the Rs 1,866.90 close. At 12:36 PM IST the stock was at Rs 1,917, up about 2.7%, so the gain had partly faded.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Why did the Hyundai Motor India share price rise when Q2 profit fell 23.9%?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose 18.5% to Rs 20,696 crore and volume hit a record 219,072 units, while management and analysts pointed to a margin recovery in H2 FY27. The profit fall came from higher raw material costs, which the market treated as temporary.\"}},{\"@type\":\"Question\",\"name\":\"What was the Hyundai Motor India EBITDA margin in Q2 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It was 9.5%, down from 13.9% a year earlier and up from 9.3% in Q1 FY27. Raw material costs caused about 400 bps of the year-on-year drop, and full-year guidance is 11% to 14%.\"}},{\"@type\":\"Question\",\"name\":\"What are the brokerage target prices for the Hyundai Motor India share price?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Targets range from Rs 1,630 (Jefferies, Underperform) to Rs 2,500 (Nuvama, Buy). Morgan Stanley set Rs 2,438, Elara Rs 2,400, Motilal Oswal and Emkay Rs 2,300 each, and Citi Rs 2,200.\"}},{\"@type\":\"Question\",\"name\":\"Which brokerage is negative on the Hyundai Motor India share price?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Jefferies kept an Underperform rating and cut its target to Rs 1,630 from Rs 1,725. It cites rising competition in the Indian auto market, especially in SUVs.\"}},{\"@type\":\"Question\",\"name\":\"How were Hyundai Motor India sales volumes in Q2 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Total volume was 219,072 units, up 14.8%, the highest quarterly sales. Domestic sales were 165,772 units (up 18.8%) and exports 53,300 units (up 3.7%), with SUVs at 67% of domestic sales.\"}},{\"@type\":\"Question\",\"name\":\"What is the FY27 guidance behind the Hyundai Motor India share price?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Management kept domestic volume growth guidance at 8% to 10% and EBITDA margin guidance at 11% to 14%. It expects an improved margin trajectory in the second half but gave no recovery timeline.\"}},{\"@type\":\"Question\",\"name\":\"Is 5% the actual rise in the Hyundai Motor India share price today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. The 5% figure is the early-trade high of Rs 1,973.80 against the Rs 1,866.90 close. At 12:36 PM IST the stock was at Rs 1,917, up about 2.7%, so the gain had partly faded.\"}},{\"@type\":\"Question\",\"name\":\"Is this article investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Hyundai Motor India share price rose after Q2 FY27 despite a 23.9% profit fall. See record volumes, the margin squeeze, brokerage target prices, the Jefferies view and the risks.<\/p>\n","protected":false},"author":29,"featured_media":332146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[18113,18110,18108,18107,18111,18109,18106,18105,8474,18112],"class_list":["post-332149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-auto-stocks-q2","tag-hyundai-bayon","tag-hyundai-ebitda-margin","tag-hyundai-motor-india-brokerages","tag-hyundai-motor-india-jefferies","tag-hyundai-motor-india-profit-fall","tag-hyundai-motor-india-q2-results","tag-hyundai-motor-india-share-price","tag-hyundai-motor-india-target-price","tag-hyundai-motor-india-volumes"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["332146"],"rank_math_title":["Hyundai Motor India Share Price After Q2: Targets and Margins"],"rank_math_description":["Hyundai Motor India share price rose after Q2 FY27 despite a 23.9% profit fall. See record volumes, the margin squeeze, brokerage targets, the Jefferies view and risks."],"rank_math_focus_keyword":["Hyundai Motor India share price"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/hyundai-motor-india-share-price-rises-despite-a-23-9-profit-fall-what-brokerages.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/332149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=332149"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/332149\/revisions"}],"predecessor-version":[{"id":332150,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/332149\/revisions\/332150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/332146"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=332149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=332149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=332149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}