Hyundai Motor India Limited: A Comprehensive Overview

Hyundai Motor India Limited (HMIL) stands as a beacon of innovation, sustainability, and progress in India’s automotive industry. With a steadfast commitment to delivering cutting-edge mobility solutions, fostering inclusive growth, and driving environmental responsibility, HMIL has solidified its position as a trusted partner in India’s journey toward a sustainable future.

Company Profile

Hyundai Motor India Limited, headquartered in India, is a leading player in the country’s automotive sector, dedicated to moving humanity forward through innovative mobility solutions. Guided by its global vision of “Progress for Humanity,” HMIL integrates advanced technology, sustainability, and customer-centricity into its operations. The company’s ethos, inspired by Hyundai’s global direction of “CONTINUE,” emphasizes resilience, growth, and societal impact, positively influencing over 2 million lives through its initiatives.

HMIL’s operations span manufacturing, sales, and service of passenger vehicles, with a focus on premiumization, electrification, and sustainable mobility. The company operates one of the largest automotive service networks in India, with 1,606 authorized service centers, ensuring unparalleled customer trust and accessibility. Its commitment to quality is rooted in a “Zero Defect” philosophy, prioritizing safety, innovation, and environmental responsibility.

The company’s strategic roadmap includes premiumization, increasing electric vehicle (EV) market share, and advancing toward a software-defined factory vision. HMIL’s corporate social responsibility (CSR) initiatives, with a spend of ₹143.16 million in FY 2024-25, have impacted over 2.4 million people across 1,400+ villages, reflecting its dedication to inclusive growth and community development.

Business Segments

HMIL operates primarily in the automotive sector, with its core business segment being the manufacture and sale of motor vehicles, engines, and related components. This segment encompasses the production, distribution, and servicing of passenger vehicles, including SUVs, sedans, and electric vehicles, as well as alternative fuel vehicles like CNG models. The company’s business activities are structured to align with India’s evolving mobility demands, focusing on innovation, sustainability, and customer satisfaction.

List of Business Segments with Comprehensive Details

1. Manufacture and Sale of Motor Vehicles, Engines, and Components:
   • Description: This segment involves the design, production, and sale of a diverse portfolio of passenger vehicles, including SUVs, sedans, hatchbacks, and electric vehicles. It also includes the manufacturing of engines and critical components, supported by HMIL’s advanced manufacturing facilities in Chennai and Talegaon.
   • Key Activities:
     • Production of vehicles like the Hyundai Creta, Alcazar, Ioniq 5, and Tuscon, alongside CNG variants like the EXTER Hy-CNG Duo and Grand i10 NIOS Hy-CNG Duo.
     • Export of 0.77 million passenger vehicles in FY 2024-25, reflecting a 14.6% growth compared to FY 2023-24.
     • Operation of a robust service network with 1,606 authorized service centers, emphasizing customer-centric after-sales support.
   • Strategic Focus:
     • Premiumization: Catering to aspirational consumers with premium models like the Creta N Line and Ioniq 5.
     • Electrification: Expanding EV market share through models like the Ioniq 5 and developing charging infrastructure (79,000+ EV charging sessions, saving 720+ MT of CO₂ emissions).
     • Sustainability: Integrating renewable energy sources, with 75 MW solar and 43 MW wind power plants in Tamil Nadu, targeting RE100 by 2025.
   • Revenue Breakup: The manufacture and sale of motor vehicles and components account for 100% of HMIL’s revenue, as it is the sole operating segment reported. Specific revenue breakdowns within this segment (e.g., SUVs vs. sedans) are not available due to the single-segment reporting structure.

Products and Services Offered

HMIL offers a wide range of passenger vehicles tailored to diverse consumer needs, from compact hatchbacks to premium SUVs and electric vehicles. Its product portfolio is complemented by an extensive service network and customer engagement initiatives, ensuring a holistic mobility experience. The company’s focus on CNG and electric vehicles underscores its commitment to sustainable mobility.

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List of Products and Services with Comprehensive Details

1. Products:
   • SUVs:
     • Creta: A flagship mid-size SUV known for its bold design, advanced technology, and versatility.
     • Creta N Line: A sporty variant of the Creta, targeting performance-oriented consumers.
     • Alcazar: A premium three-row SUV designed for comfort and luxury.
     • Tuscon: A sophisticated SUV with cutting-edge features for urban and adventure enthusiasts.
     • Ioniq 5: An all-electric SUV, representing HMIL’s push toward electrification with advanced design and technology.
     • EXTER Hy-CNG Duo: A compact SUV with a CNG powertrain, offering a sustainable mobility solution.
   • Hatchbacks:
     • Grand i10 NIOS Hy-CNG Duo: A compact hatchback with a CNG option, combining affordability and eco-friendliness.
   • Sedans: Referenced but not detailed, indicating a focus on SUVs and hatchbacks in FY 2024-25.
   • Revenue Breakup: Specific revenue percentages for individual vehicle models are not available. SUVs like the Creta, Alcazar, and Ioniq 5 are highlighted as key growth drivers, with the Ioniq 5 contributing to HMIL’s EV market share expansion. The total revenue from operations is reported as ₹691,929 million, with no model-specific breakdown available.
2. Services:
   • After-Sales Service:
     • HMIL operates 1,606 authorized service centers, the second-largest automotive service network in India, ensuring accessibility and trust.
     • Services include vehicle maintenance, repairs, and customer support, with a focus on quality and efficiency.
   • Customer Engagement Initiatives:
     • Hyundai Spotlight: A platform to enhance brand visibility and customer interaction.
     • Hyundai Explorers: An initiative to engage adventure enthusiasts, aligning with the brand’s dynamic image.
     • India Couture Week: A branding effort to connect with aspirational consumers through lifestyle events.
   • EV Charging Infrastructure:
     • HMIL has facilitated 79,000+ EV charging sessions, saving over 720 MT of CO₂ emissions, pioneering EV Charging-as-a-Business in India.
   • Revenue Breakup: Service revenue is not separately quantified but is part of the overall revenue from operations (₹691,929 million). The service network’s scale suggests a significant contribution to customer retention and ancillary revenue.

Company History

Hyundai Motor India Limited has a rich history of growth and innovation since its inception in India. Established as a subsidiary of Hyundai Motor Company, South Korea, HMIL has evolved into one of India’s leading automakers, achieving significant milestones over the years.

Comprehensive History

• Foundation and Early Years:
  • HMIL was incorporated to bring Hyundai’s global expertise to the Indian market, focusing on affordable and reliable vehicles. The company established its manufacturing base in Chennai, Tamil Nadu, to cater to India’s growing demand for passenger vehicles.
  • Early success came with models like the Hyundai Santro, which became a household name for its reliability and affordability.
• Growth and Expansion:
  • Over the decades, HMIL expanded its portfolio to include SUVs, sedans, and hatchbacks, aligning with changing consumer preferences.
  • The company achieved a landmark of 12 million+ vehicle sales, reflecting its strong market presence and customer trust.
  • HMIL became a key exporter, with 0.77 million passenger vehicles shipped in FY 2024-25, a 14.6% increase from FY 2023-24.
• Strategic Milestones:
  • In FY 2024-25, HMIL successfully completed its Initial Public Offering, marking a pivotal step in its growth journey and enhancing its financial flexibility.
  • The launch of the Ioniq 5 and CNG models like the EXTER Hy-CNG Duo and Grand i10 NIOS Hy-CNG Duo reflects HMIL’s focus on sustainable mobility.
  • HMIL partnered with Partner Energy to establish 75 MW solar and 43 MW wind power plants, targeting RE100 by 2025.
  • The acquisition and development of the Talegaon plant in Pune bolstered HMIL’s manufacturing capacity, positioning it as a cornerstone for future growth.
• Recent Achievements:
  • FY 2024-25 was a transformative year, with HMIL achieving record-high exports, launching new models, and strengthening its EV ecosystem through charging infrastructure development.
  • The company’s CSR initiatives, including skill development and road safety programs, have impacted over 2.4 million lives, reinforcing its social responsibility commitment.

Brands

HMIL operates under the Hyundai brand, a globally recognized name synonymous with innovation, quality, and reliability. The brand’s portfolio in India includes a range of vehicles tailored to diverse consumer segments, from budget-conscious buyers to premium and eco-conscious customers.

List of Brands with Comprehensive Details

1. Hyundai:
   • Description: The Hyundai brand is HMIL’s sole brand in India, encompassing a wide range of passenger vehicles, including SUVs, hatchbacks, sedans, and electric vehicles. The brand is positioned as a leader in smart, sustainable, and premium mobility solutions.
   • Key Models:
     • Creta and Creta N Line: Mid-size SUVs known for their bold design and advanced features, targeting urban and aspirational consumers.
     • Alcazar: A premium three-row SUV offering luxury and versatility.
     • Tuscon: A high-end SUV with global appeal, featuring cutting-edge technology.
     • Ioniq 5: An all-electric SUV, spearheading HMIL’s electrification strategy.
     • EXTER Hy-CNG Duo and Grand i10 NIOS Hy-CNG Duo: CNG-powered vehicles catering to eco-conscious and cost-sensitive customers.
   • Brand Initiatives:
     • Hyundai Spotlight: Enhances brand visibility through cultural and lifestyle events.
     • Hyundai Explorers: Engages adventure enthusiasts, aligning with the brand’s dynamic image.
     • India Couture Week: Strengthens brand appeal among premium consumers.
   • Revenue Breakup: The Hyundai brand accounts for 100% of HMIL’s revenue, as all vehicles and services are marketed under this brand. Specific model-wise revenue breakdowns are not available, but SUVs and EVs are highlighted as key growth contributors.

Geographical Presence

HMIL has a robust presence across India and a growing footprint in international markets through exports. Its operations are supported by manufacturing facilities, a vast service network, and strategic partnerships.

List of Geographical Presence with Comprehensive Details

1. India:
   • Manufacturing Facilities:
     • Chennai, Tamil Nadu: HMIL’s primary manufacturing hub, equipped with advanced infrastructure for vehicle and engine production.
     • Talegaon, Pune: A recently acquired plant, set to become a cornerstone of HMIL’s growth with advanced manufacturing capabilities.
   • Service Network: Operates 1,606 authorized service centers across India, making it the second-largest automotive service network in the country.
   • CSR Reach: HMIL’s CSR initiatives span over 1,400 villages across 2.5 states and Union Territories, impacting 2.4 million+ people.
   • Revenue Contribution: India accounts for the majority of HMIL’s revenue, with domestic sales driving the reported ₹691,929 million in revenue from operations.
2. International Markets:
   • Exports: HMIL exported 0.77 million passenger vehicles in FY 2024-25, a 14.6% increase from FY 2023-24, reflecting strong demand for its globally competitive models.
   • Key Markets: Export destinations are not specified, but HMIL’s vehicles are shipped to multiple countries, contributing to its global presence.
   • Revenue Contribution: Export revenue is included in the total revenue of ₹691,929 million, but a specific percentage is not available. The 14.6% growth in export volume suggests a significant contribution to overall revenue.

Financial Performance

HMIL’s financial performance for FY 2024-25 reflects its robust operational efficiency and strategic growth initiatives. The company reported a consolidated profit margin of 8.05% and an EBITDA margin (excluding other income) of 12.94% on a total income of ₹691,929 million.

Consolidated Profit and Loss Statement (FY 2024-25)

Consolidated Balance Sheet (As of March 31, 2025)

Subsidiaries, Wholly-Owned Subsidiaries, and Associates

HMIL operates with a network of subsidiaries and related entities, as indicated in the FORM AOC-1 statement.

List of Subsidiaries, Wholly-Owned Subsidiaries, and Associates

• Details: The FORM AOC-1 statement indicates the presence of subsidiaries and associates, but specific names, ownership percentages, and financial contributions are not available.
• Revenue Breakup: No specific revenue contributions from subsidiaries or associates are provided, as HMIL reports its financials on a consolidated basis with a total revenue of ₹691,929 million.

Physical Properties

HMIL’s physical infrastructure supports its manufacturing, sales, and service operations, with key facilities in Chennai and Talegaon.

List of Physical Properties with Comprehensive Details

1. Chennai Manufacturing Plant (Tamil Nadu):
   • Description: HMIL’s primary manufacturing facility, equipped with advanced technology for vehicle and engine production.
   • Capabilities: Produces a wide range of vehicles, including SUVs, hatchbacks, and electric vehicles, with a focus on quality and efficiency.
   • Sustainability: Powered by 75 MW solar and 43 MW wind power plants, aligning with HMIL’s RE100 goal.
2. Talegaon Plant (Pune):
   • Description: A recently acquired facility, set to enhance HMIL’s manufacturing capacity and support future growth.
   • Capabilities: Features advanced infrastructure and a skilled workforce, positioned as a cornerstone for HMIL’s expansion.
   • Investment: Significant capital work-in-progress reported for the Talegaon plant, with input GST credit noted.
3. Service Centers:
   • Description: HMIL operates 1,606 authorized service centers across India, forming the second-largest automotive service network in the country.
   • Purpose: Provides maintenance, repairs, and customer support, ensuring accessibility and trust.
4. Corporate Office:
   • Description: Serves as the administrative and strategic hub for HMIL’s operations.
   • Location: Likely based in Chennai, though specific details are not provided.

Founders Details

HMIL is a subsidiary of Hyundai Motor Company, South Korea, and does not have individual founders in the traditional sense. The company was established as part of Hyundai Motor Company’s global expansion strategy to tap into the Indian market.

Board of Directors

HMIL’s Board of Directors comprises experienced leaders who guide the company’s strategic and governance frameworks.

List of Directors with Comprehensive Details

1. Mr. Unsoo Kim (Managing Director):
   • Role: Leads HMIL’s strategic vision and operations, emphasizing India’s progress and sustainable mobility.
   • Contribution: Spearheaded the successful IPO and EV market expansion.
2. Mr. Tarun Garg (Whole-time Director & Chief Operating Officer):
   • Role: Oversees operational efficiency and customer-centric initiatives.
   • Contribution: Drove the second phase of HMIL’s journey, focusing on innovation and accessibility.
3. Mr. Wangdo Hur (Whole-time Director):
   • Role: Supports strategic and operational leadership.
   • Contribution: Contributes to governance and risk management.
4. Mr. Jae Wan Ryu (Whole-time Director):
   • Role: Plays a key role in operational and financial oversight.
   • Contribution: Supports HMIL’s growth strategy and compliance.
5. Mr. Gopalakrishnan CS (Whole-time Director):
   • Role: Re-appointed as a director, contributing to financial and governance strategies.
   • Contribution: Enhances financial discipline and shareholder value.

Parent Company Details

• Parent Company: Hyundai Motor Company, South Korea.
• Details:
  • Hyundai Motor Company is a global automotive leader headquartered in Seoul, South Korea, known for its innovative vehicles and commitment to sustainability.
  • HMIL operates as a wholly-owned subsidiary, aligning its strategies with the parent company’s global vision of “Progress for Humanity.”
  • The parent company provides technological expertise, R&D support, and strategic guidance, enabling HMIL to lead in India’s automotive market.

Investment Details

HMIL has made significant investments to support its growth and sustainability goals.

List of Passive Investment Details

1. Renewable Energy Partnership:
   • Description: Invested in 75 MW solar and 43 MW wind power plants in Tamil Nadu through a partnership with Partner Energy.
   • Purpose: Supports HMIL’s RE100 goal by 2025, reducing carbon emissions and operational costs.
   • Investment Percentage: Specific investment amounts are not available, but the initiative is a key part of HMIL’s sustainability strategy.
2. Talegaon Plant Acquisition:
   • Description: Acquired and developed the Talegaon plant in Pune to expand manufacturing capacity.
   • Purpose: Enhances production capabilities and supports future growth.
   • Investment Percentage: Reported as part of capital work-in-progress, with input GST credit noted, but specific investment figures are unavailable.

Future Investment Plans

HMIL’s future investment plans focus on strengthening its manufacturing capabilities, expanding its EV ecosystem, and enhancing sustainability.

1. Talegaon Plant Expansion:
   • Plan: Further develop the Talegaon plant to serve as a cornerstone for HMIL’s growth, with investments in advanced infrastructure and automation.
   • Objective: Increase production capacity to meet rising domestic and export demand.
2. Electric Vehicle Ecosystem:
   • Plan: Invest in expanding EV production and charging infrastructure, building on the success of 79,000+ EV charging sessions and 720+ MT of CO₂ emissions saved.
   • Objective: Increase EV market share and support India’s electric mobility transformation.
3. Software-Defined Factory Vision:
   • Plan: Invest in digitalization and automation to transition toward a software-defined factory, enhancing manufacturing efficiency and agility.
   • Objective: Meet evolving mobility demands and maintain competitive edge.
4. Sustainability Initiatives:
   • Plan: Continue investments in renewable energy and carbon-neutral strategies to achieve RE100 by 2025.
   • Objective: Reduce environmental impact and align with global sustainability goals.

Conclusion

Hyundai Motor India Limited exemplifies excellence in the automotive industry, blending innovation, sustainability, and customer-centricity to drive India’s mobility future. With a robust portfolio of vehicles, a vast service network, and a commitment to environmental and social responsibility, HMIL continues to set benchmarks in the industry. Its strategic focus on electrification, premiumization, and manufacturing prowess, supported by strong financial performance and governance, positions HMIL as a leader in India’s automotive landscape. As the company advances toward its future investment plans, it remains dedicated to fostering inclusive growth, delivering value to stakeholders, and shaping a sustainable tomorrow.