Hyundai Motor India faces ₹22.5 crore customs duty, penalty demand; to review order

Hyundai Motor India Ltd on Wednesday said it has received a customs order demanding differential duty, penalty and fine totalling over ₹22 crore, related to alleged misclassification of imported air purifiers.

In a regulatory filing, the company said the order was issued by the Office of the Commissioner of Customs, Chennai-II (Imports), and was received on April 21, 2026.

The authority has imposed a differential customs duty demand of ₹7.27 crore along with applicable interest, a penalty of ₹7.27 crore, and a redemption fine of ₹7.47 crore, Hyundai Motor India said.

“As per the order, air purifiers were wrongly classified to claim a concessional duty rate of 7.5 per cent,” the company said in its disclosure. “Due to above concessional duty claim, this resulted in short payment of customs duty.”

The automaker said that it is currently reviewing the order and evaluating options to file an appeal against the decision.

The company, however, clarified that there is “no impact on financial, operational or other activities” arising from the order at this stage.

Hyundai Motor India shares were trading marginally lower in afternoon trade on the NSE.

Q3 Results

Hyundai Motor India reported a 6.34% increase in its consolidated profit after tax to ₹1,234.39 crore in the December quarter of the financial year 2025-26.

The company had posted a post-tax profit of ₹1,160.73 crore in the year-ago period.

The company's revenue from operations advanced 7.96% to ₹17,973.48 crore in Q3 FY26, compared to ₹16,647.99 crore in the corresponding period of the previous fiscal year.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) saw an uptick of 7.61% to ₹2,018 crore in the reporting quarter, compared to ₹1,876 crore in the same period a year back. EBITDA margin stood at 11.23% vs 11.27% a year back.