Hyundai Motor India Ltd: From Santro to Supercars – Is India Just the Beginning?

1. At a Glance

Hyundai India, the stylish younger cousin of the Korean auto empire, has gone from humble hatchbacks to dominating India’s SUV dreams. With 67,000+ Cr in sales, 42% ROE, 13 models, and 13% exports, this company isn’t just selling cars—it’s exporting India’s muscle to the world, one i20 at a time.

2. Introduction with Hook

Imagine a Maruti that decided to hit the gym, learn Korean, and develop a tech obsession. That’s Hyundai Motor India.

• ₹5,492 Cr net profit in FY25
• ROCE: god-level 54.2%
• Operating cash flow: ₹4,251 Cr — enough to build a few factories or just throw a party in Seoul.

Yet, despite being one of the most profitable auto players in India, their IPO valuation seems to be only warming up. Welcome to India’s next automobile multiverse.

3. Business Model (WTF Do They Even Do?)

Hyundai Motor India Ltd (HMI) is the second-largest carmaker in India by market share and a critical export hub for Hyundai globally.

Product Portfolio:

• 13 models: Hatchbacks (i10, i20), Sedans (Verna), SUVs (Creta, Alcazar, Tucson), EVs (Ioniq 5)
• ICE + EV strategy. Their EV share is still small, but the focus is growing.
• 26.7% of Q1 FY26 volumes were exports.

Revenue Streams:

• 95% from passenger vehicle sales
• 5% from spares, accessories, and EV components

Geography:
Domestic + 85 countries in exports. Chennai = factory to the world.

4. Financials Overview