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Hyundai Motor raises stake to 26.49% in FPEL TN Wind Farm with fresh investment
Hyundai now holds a 26.49% stake in FPEL TN Wind Farm, taking its total investment in the wind energy company to Rs 38.05 crore.
Hyundai Motor India reported a strong second-quarter performance, with profit after tax rising 14.3% year-on-year.
Hyundai Motor India on Thursday announced that it has invested an additional Rs 21.46 crore in FPEL TN Wind Farm Private Limited as part of its second tranche of funding. In return, the automaker has been allotted 25,58,405 equity shares through a private placement.
Following this round, Hyundai now holds a 26.49% stake in FPEL TN Wind Farm, taking its total investment in the wind energy company to Rs 38.05 crore.
The move underscores Hyundai’s broader strategy to deepen its renewable energy commitments and offset operational emissions.
Separately, the company reported a strong second-quarter performance, with profit after tax rising 14.3% year-on-year to Rs 1,572.3 crore, while EBITDA margin improved 113 bps to 13.9%. Revenue rose 1.2% YoY to Rs 17,460.8 crore.
In October, Hyundai recorded total sales of 69,894 units, including domestic sales of 53,792 units. The company said GST reforms and the festive season boosted domestic volumes by 5.5% quarter-on-quarter.
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