New Delhi, 24 Mar 2025,
Hyundai Motor India, the largest passenger car manufacturer in India, plans to invest Rs 694 crore in its Talegaon manufacturing facility. The company disclosed this information in its regulatory filing with the stock exchanges, stating that the investment aims to improve the plant’s capabilities in stamping tools and panel production for vehicles, thereby bolstering local production and supply chain efficiency.
The expansion at Hyundai’s Talegaon plant is expected to increase the company’s annual vehicle production capacity from 900,000 to 1.1 million.
In a related move, the company announced the departure of five senior executives: Raja R (Internal Auditor), Jong Tae Park, Amit Kumar Dhaundiyal, Daeick Kim, and Puneet Anand.
Madhan Raj T. N. has been appointed as the new internal auditor as part of the leadership transition. He will take on this position as a chartered accountant with over 25 years of experience, including 19 years of internal auditing. Furthermore, the board has appointed M/s. BP & Associates as Secretarial Auditor for fiscal year 2024-25.
The company’s revenue and profit fell during the third quarter, which ended on December 31. In the third quarter of 2024, Hyundai India’s consolidated net profit decreased by 19% year on year to Rs 1,124 crore from ₹1,425 crore in the previous year. Consolidated revenue from operations fell to Rs 16,648 crore from Rs 16,875 crore in the previous fiscal year.
Hyundai India’s shares rebounded from their all-time low of Rs 1,580.30 on March 18 to close at Rs 1,758.70 on the BSE today.
