
Crisil Ratings has reaffirmed its 'Crisil AAA/Stable/Crisil A1+' ratings on the bank facilities and short-term debt of Hyundai Motor India (HMIL). According to reports from Business Standard, the ratings continue to reflect the company's established position in domestic and overseas passenger car markets, robust financial risk profile and strong liquidity. The factors also factor in the strong support from the parent, Hyundai Motor Company (HMC). The latest reaffirmation includes bank loan facilities totaling ₹3,700 crore and ₹100 crore of short-term debt, with the unchanged top-tier ratings underscoring the company's strong credit profile and financial stability.
In fiscal 2026, HMIL's overall volume marginally increased by 2% on account of improved business volumes, particularly during the second half of the fiscal year, on the back of goods and services tax (GST) rate rationalisation in September. As reported by Business Standard, revenue increased to ₹70,763 crore in fiscal 2026 from ₹69,193 crore in fiscal 2025. Operating profitability moderated to 11.7% in fiscal 2026 from 12.6% in fiscal 2025 owing to input cost pressures, though the company expects to sustain healthy operating margins over the near to medium term.
Sustained volume offtake supported by new model launches, especially in the sports utility vehicle (SUV) segment, along with moderate price hikes is expected to support volume growth in fiscal 2027, with revenues expected above ₹75,000 crore. According to Business Standard, the financial risk profile remains robust, supported by negligible debt and strong liquidity driven by annual cash accrual, with sizeable cash surplus and bank balance of ₹10,552 crore as on 31 March 2026. Capital expenditure spend in fiscal 2026 was largely met through available surplus and annual cash accrual.
Hyundai Motor India is the fourth-largest player in the Indian passenger vehicle industry and the second-largest exporter of PVs. As reported by Business Standard, the company has access to Hyundai Motor Company's technology and large product portfolio and pays royalty to the parent on both domestic and overseas sales. The company operates from production facilities in Tamil Nadu and coordinates commercial operations from its corporate office in Gurugram, positioning itself as a major player in the Indian car market.