Why Chennai and not Pune
Hyundai laid its foundation stone at Irungattukottai, near Sriperumbudur, on 6 May 1996. It chose Chennai over Pune for two reasons people still quote: a port next door, and around a hundred engineering colleges turning out young engineers every year. The first car, a Santro, came off the line in 1998.
Ten million cars from one site
On 30 June 2021, just under 23 years after the first Santro, the Chennai plant rolled out its ten millionth car. By then Hyundai had become India’s second-largest carmaker, after Maruti Suzuki, and one of its biggest car exporters, shipping through the Chennai port.
The record share sale
In October 2024 the Korean parent sold part of its stake in the Indian company to the public. At ₹27,870 crore it was the largest IPO in Indian history, bigger than LIC’s, and it valued the company at about ₹1.6 lakh crore.
It was entirely an offer for sale: the money went to the parent, not into the Indian company. For a reader of accounts that matters. An IPO is not always new money for the business.
An IPO is not always new money for the business. Read who is selling.
Reading the numbers
In 2024-25 Hyundai Motor India earned revenue of ₹69,193 crore, a little below the year before, and a profit of ₹5,640 crore, down about 7%. It sold about 5.99 lakh cars in India and exported about 1.63 lakh, so roughly one car in five went abroad.
The plan from here leans on exports, an electric Creta and a second plant near Pune. The Chennai plant remains its anchor, and the reason hundreds of parts suppliers sit along the same highway.
Points for a finance reader
- Location decides cost for decades. A port and a pool of engineers lowered freight and training costs from day one.
- Exports smooth a slow home market. With one car in five going abroad, a dip at home hurts less.
- Read where IPO money goes. An offer for sale pays the seller, not the company. Check the offer document.