Shares of Hyundai Motor India are expected to race today after the company’s management confirmed its plan of 26 new launches by FY30. The stock was gradually inching up and was trading 0.5% higher during the pre-open session on the NSE. The automaker is looking to reclaim its second position in the Indian passenger vehicle space by launching 20 petrol and diesel cars and 6 EVs and hybrid cars by FY30. Hyundai has recently faced pressure from competitors like Mahindra & Mahindra and Tata Motors.
Of the 26 launches, the Creta-maker will launch eight vehicles in next two financial years, likely starting with next-generation Hyundai Venue and the facelifted Ioniq 5 in 2025. The company is also set to start production at its Talegaon facility in Pune by the December quarter of 2025. This expansion will aid its plans of new launches, increasing its manufacturing capacity.
The automaker’s net profit for the fourth quarter of FY25 slipped 4% on year, despite registering an over 2% on-year growth in revenue for the period. Rise in input costs, staff costs, and other expenses weighed on the company’s earnings for the quarter under review. Hyundai released its earnings for the March quarter during market hours on Friday. The shares closed over 1% higher on Friday.
It remains cautiously optimistic on domestic demand outlook in near-term amid prevailing macro-turbulence and weakening customer sentiments, the company said in its press release. The automaker expects its domestic growth in FY26 to be broadly in line with industry estimates of low-single digit, but it is targeting 7-8% volume growth in exports, Unsoo Kim, managing director of the company, said.
Nomura maintained its ‘buy’ call on the stock as it found the company’s result ahead of its peers and resilient in tough market conditions. The brokerage pegged the target price for the stock at Rs 2,291 apiece, implying an over 23% upside to the Friday close.
