Hyundai Motor India Limited has issued a postal ballot notice dated March 02, 2026, seeking shareholder approval for the appointment of a new director and material related party transactions worth ₹177,223 million. The company will conduct remote e-voting from March 03, 2026, to April 01, 2026, with the cut-off date set as February 25, 2026.

Director Appointment Proposal

The company proposes to appoint Mr. Dong Huwy Park (DIN: 09389394) as Whole-time Director (Non-Independent, Executive Director) for a three-year term from February 02, 2026, to February 01, 2029. Mr. Park brings 30 years of global industry experience and previously served as CEO for Hyundai Motor Middle East & Africa.

The proposed remuneration includes salary, allowances, performance incentives, fully furnished accommodation, company car with chauffeur, and other benefits as per company policy. The total remuneration for all Managing/Whole-time Directors shall not exceed the limits under Section 197 read with Schedule V of the Companies Act, 2013.

Material Related Party Transactions

The company seeks approval for material related party transactions with three entities, aggregating to ₹177,223 million. These transactions are proposed to be conducted from April 01, 2026, to March 31, 2027.

Transactions with Mobis India Limited

The largest proposed transaction involves Mobis India Limited, valued at ₹88,400 million. Mobis specializes in manufacturing modular assemblies and components specifically for Hyundai's requirements.

Mobis operates a battery assembly plant within Hyundai's premises and supplies battery assemblies for electric vehicle models. The proximity to manufacturing facilities optimizes inventory levels and reduces supply chain risks.

Transactions with Kia India Private Limited

The company proposes transactions worth ₹44,532 million with Kia India Private Limited, primarily involving engine purchases and sales.

These transactions enable mutual business opportunities, with Hyundai purchasing certain engine models from Kia while selling other engine models and transmissions to optimize capacity utilization.

Transactions with Hyundai Motor Company

The proposed transactions with parent company Hyundai Motor Company amount to ₹44,291 million, covering various operational requirements.

Hyundai Motor Company provides core technology and essential components, while the company sells CKD kits and test vehicles for performance evaluation and compliance checks.

Voting Process and Timeline

The remote e-voting facility will be provided through National Securities Depository Limited (NSDL) platform. Members can cast their votes from 09:00 AM on March 03, 2026, to 05:00 PM on April 01, 2026.

Mr. K J Chandra Mouli (Membership No. F11720), Partner of M/s. BP & Associates, has been appointed as Scrutinizer to conduct the postal ballot process. The Board of Directors approved these proposals at their meeting held on February 02, 2026, based on recommendations from the Nomination and Remuneration Committee and Audit Committee.

The postal ballot notice emphasizes that all proposed related party transactions will be conducted at arm's length basis and in the ordinary course of business, with appropriate approvals from the Audit Committee and Board of Directors.

Hyundai Motor India Limited has achieved a significant milestone by recording its highest-ever February sales performance, demonstrating strong market momentum in the Indian automotive sector. The company reported total sales of 66,134 units in February, marking a robust 12.60% year-on-year growth from the previous year's 58,727 units and surpassing market estimates of 64,100 units.

Record-Breaking Sales Performance

The February results showcase exceptional performance that exceeded both historical benchmarks and market expectations. The company achieved its highest-ever domestic sales for any February month, underlining strong consumer demand in the Indian market.

Strong Domestic Market Performance

The domestic market contributed significantly to the overall performance with 52,407 units sold in February. This represents not only a healthy 9.80% year-on-year growth but also establishes a new record for the highest-ever domestic sales in any February month since the company's establishment. The strong domestic performance reflects robust consumer confidence and effective market strategies.

Exceptional Export Growth

Export performance was particularly noteworthy, with 13,727 units contributing to February sales. The export segment demonstrated remarkable momentum with a substantial 24.80% year-on-year growth, highlighting the company's expanding global footprint and international market acceptance of its products.

Market Outperformance

The actual sales figure of 66,134 units significantly exceeded market estimates of 64,100 units, representing a positive variance that demonstrates the company's ability to outperform market expectations. This outperformance reinforces investor confidence and validates the company's strategic initiatives in the competitive automotive landscape.

Strategic Milestone Achievement

This performance represents a continuation of strong sales momentum for Hyundai Motor India Limited, building on sustained growth patterns. The February results reinforce the company's market position as it continues operations in India, demonstrating sustained growth and market leadership while exceeding analyst expectations in the competitive automotive sector.