**Market Brief: Hyundai Motor India Q3 FY26 Performance** **Financial Highlights** Hyundai Motor India Limited (HMIL) delivered a steady performance for the quarter ended December 31, 2025. The company reported a standalone net profit increase of **6.3%** year-on-year, reaching **Rs 1,194.9 crore**. Consolidated net profit stood at **Rs 1,234.4 crore**, while revenue from operations rose **8%** to **Rs 17,973 crore**. EBITDA margins remained resilient at **11.2%**, supported by operational efficiencies despite rising input costs. **Operational Drivers** Growth was primarily fueled by the SUV segment, which now commands over **56%** of the company’s total portfolio. The **Hyundai Creta** reclaimed its position as India’s top-selling SUV, surpassing **200,000 units** in annual sales for CY2025. The new **Venue** also saw strong traction with nearly **80,000 bookings**. Rural markets contributed significantly, accounting for a record **24%** of total volumes, indicating deep market penetration beyond urban centers. Domestic wholesale volumes grew **5%** sequentially, signaling a recovery in dealer offtake. **Policy Impact: GST 2.0** The quarter benefited from the "GST 2.0" reforms implemented in September 2025. The restructuring of tax slabs—stabilizing rates at **18%** for small cars and **40%** for larger vehicles while removing complex cesses—has improved buyer sentiment. These tax cuts, combined with the festive season, provided a necessary tailwind for volume growth in both the compact and SUV segments. **Market Reaction & Outlook** Following the results, Hyundai Motor India's stock traded around **Rs 2,197** on the NSE. Management indicated that strong January 2026 sales figures suggest continued momentum. The strategic focus remains on "Quality of Growth," balancing volume expansion with profitability through an improved product mix.