Hyundai Motor India hits record high after signing wage pact with employees' union

Hyundai Motor India (HMIL) advanced 1.84% to Rs 2,649.95 after the company has signed wage settlement agreement with United Union of Hyundai Employees (UUHE) for the period 2024-2027.

The UUHE is the officially recognized representative body for the workforce of HMIL As of August 31, 2025, UUHE represents a membership of 1,981 employees (90% of technician/workmen cadre), reflecting its continued commitment to advocating for employee welfare, rights, and constructive engagement with management.

The long-term wage settlement will be effective from April 1, 2024, through March 31, 2027. The revised all-inclusive compensation package sets a new benchmark in the automotive industry.

The package includes an industry-best salary increase of Rs 31,000 per month, structured over a three-year period in the ratio of 55%, 25%, and 20%. In addition to the salary increase agreed between the company and the union, HMIL continues to lead the industry in employee welfare including best-in-class health coverage and advanced wellness programs.

Youngmyung Park, function head - people strategy, HMIL, stated, 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 prioritizes employee welfare and supports longterm organizational growth.

Hyundai Motor India manufactures and sells passenger cars, along with vehicle parts and accessories. On the earnings front, consolidated net profit fell 8.1% year-on-year to Rs 1,369.23 crore in Q1 FY26, while net sales declined 5.6% to Rs 16,179.62 crore.

The counter hit an all-time high of Rs 2,653 in intraday today.

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