Hyundai Motor India shares edge up on 3-year wage deal with union
Published on 17/09/2025 02:52 PM
Hyundai Motor India shares edge up on 3-year wage deal with unionHyundai Motor India has finalised a three-year wage settlement with its recognised employees’ union, offering a structured monthly pay increase.By Sheersh Kapoor September 17, 2025, 2:52:32 PM IST (Published)1 Min Read
Hyundai Motor India Limited (HMIL) on Wednesday announced the successful conclusion of a long-term wage settlement with the United Union of Hyundai Employees (UUHE) for the period April 2024 to March 2027.
The agreement provides a structured salary increase of ₹31,000 per month, spread across three years in the ratio of 55, 25 and 20%. Alongside the hike, HMIL reaffirmed its focus on employee welfare, offering best-in-class health cover and wellness programmes.
Commenting on the deal, Youngmyung Park, Function Head – People Strategy at HMIL, said: “At Hyundai, our people are the cornerstone of our success. This agreement, built on mutual trust, respect, and constructive dialogue, reflects our shared commitment to fostering a progressive workplace culture that prioritises employee welfare and supports long-term organisational growth.
The UUHE, recognised as the official employee body since 2011, represents 1,981 members, accounting for 90% of the technician and workmen cadre as of August 2025.
The development comes as HMIL posted a net profit of ₹1,369 crore in Q1 FY26, down 8% from a year ago but ahead of estimates of ₹1,215 crore. Revenue slipped 5.4% year-on-year to ₹16,413 crore, while EBITDA fell 6.6% to ₹2,185 crore, though both remained stronger than projections.
Shares of Hyundai Motor India were trading 1.8% higher at ₹2,649 on the NSE at 02:45 PM.
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