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Hyundai Motor India vs competitors: Who’s leading in FY24 performance?

Upstox
By Upstox News Desk

3 min read | Updated on October 10, 2024, 14:55 IST

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SUMMARY

Hyundai Motor India’s ₹27,870 crore IPO will be one of Asia's largest. In FY24, Hyundai reported a 15% YoY revenue growth to ₹69,829 crore. Maruti Suzuki saw 63% PAT growth, while Tata Motors posted ₹31,807 crore PAT (108% YoY growth) and M&M recorded ₹12,269 crore PAT.

Stock list

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Hyundai (1).webp

Hyundai Motor India vs Competitors: Who’s Leading in FY24 Performance?

The much-awaited Hyundai Motor India IPO is creating a buzz in the auto industry, marking the first time in two decades that a carmaker will go public after Maruti Suzuki’s listing in 2003. Hyundai Motor India, the subsidiary of South Korea’s Hyundai Motor Company, is set to launch one of the largest public issues in India. Previously, the record was held by Life Insurance Corporation’s (LIC) IPO, which was worth ₹21,000 crore.

Hyundai Motor India’s IPO, valued at approximately ₹27,870.16 crore, will be one of Asia’s biggest IPOs in recent years.

Hyundai Motor India began operations in 1996 with the launch of its iconic Santro hatchback, one of the best-selling models at the time. Today, Hyundai is the second-largest car manufacturer in India, behind only Maruti Suzuki.

Compared to competitors

FY24 ComparisonHyundai IndiaMaruti SuzukiTata MotorsM&M
Volumes7,77,87621,35,3235,73,4954,59,877
Revenue Cr69,8291,34,9214,37,9281,39,078
EBITDA13.10%11.60%14.30%17.40%
PAT8.60%9.80%7.30%8.90%

(source: Hyundai RHP, company financials)

Hyundai Motor India

In FY24, Hyundai reported a revenue of ₹69,829 crore, up from ₹60,307 crore in FY23, marking a 15% YoY growth. The PAT in FY24 stood at ₹6,060 crore, compared to ₹4,709 crore in FY23, showing a 28% YoY growth. Hyundai's increasing focus on SUVs has helped push the average selling price, which is reflected in its strong bottom line. The company currently holds a market share of approximately 15%. Hyundai’s ROE stands at 12.3%, and its FY24 dividend payout was ₹15,435 crore, which will impact both the ROE and the company’s net worth.

Maruti Suzuki

In FY24, Maruti Suzuki reported revenue of ₹1,34,921 crore, up from ₹1,12,493 crore in FY23, registering a 20% YoY growth. The PAT for FY24 was ₹13,488 crore, a significant jump from ₹8,263 crore in FY23, reflecting a 63% YoY growth. The company’s ROE stands at 16.8%, while ROCE is at 21.8%. Currently, Maruti Suzuki's stock is trading at a P/E multiple of 27.3x. As of October 9, 2024, the company’s market capitalisation is ₹4,01,083 crore.

Tata Motors

Tata Motors reported revenue of ₹4,34,984 crore in FY24, up from ₹3,42,875 crore in FY23, showcasing a 27% YoY growth. The PAT for FY24 stood at ₹31,807 crore, a massive increase from ₹2,690 crore in FY23, reflecting a 108% YoY growth. This surge was partly due to a tax credit of ₹8,788 crore. The ROE for Tata Motors is 26%, while the ROCE is 18%. The stock is currently trading at a P/E multiple of 10.2x. As of October 9, 2024, Tata Motors’ market capitalisation stands at ₹3,45,671 crore.

Mahindra & Mahindra (M&M)

M&M reported a revenue of ₹1,38,279 crore in FY24, up from ₹1,21,268 crore in FY23, reflecting a 14% YoY growth. The PAT for FY24 was ₹12,269 crore, compared to ₹11,374 crore in FY23, showing a growth of 7.8% YoY. The ROE for M&M stands at 18.4%, while the ROCE is 13.6%. The stock is currently trading at a P/E multiple of 35.5x. As of October 9, 2024, M&M’s market capitalisation is ₹3,92,128 crore.
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