Maruti Suzuki Q4 2023 results: Net Profit increases 43% YoY; declares dividend of Rs 90
India’s largest car company Maruti Suzuki has presented the expected results for the March quarter. Maruti Suzuki’s profit has increased by 43%, the profit has increased from Rs 1,839 crore to Rs 2,624 crore. Along with the results, the company has also declared a final dividend of Rs 90/share.
The effect of shortage of semiconductors has been seen on the company’s production in the last two quarters. However, due to the re-launch of Brezza and Grand Vitara, this year Maruti Suzuki sold 5.3% more i.e. 5.15 lakh vehicles on annual basis. On the export front, there was a decline of 5.5% and the company exported 64,000 units in this quarter.
Maruti Suzuki to expand capacity
The board of Maruti Suzuki has given in-principle approval to increase the capacity to 1 million units annually in view of the increasing demand. However, the timeline and investment requirement for capacity expansion has not been decided yet. This capacity expansion will be over and above the company’s current production capacity of 1.3 million units. Presently the company produces from Manesar, Gurugram and Suzuki Motor Gujarat.
Highlights: Quarter 4 (January-March), FY2022-23
The Company sold a total of 514,927 vehicles during the Quarter, higher by 5.3% compared to the same period previous year.
In the Quarter, the sales in the domestic market stood at 450,208 units, up by 7.1% over that in Q4FY22. The sales in the export market were at 64,719 units as compared to 68,454 units in Q4FY22. During the Quarter, the Company registered Net Sales of INR 308,218 million, an increase of 20.8% compared to the same period, the previous year.
The Operating Profit for the Quarter stood at INR 26,111 million, a growth of 46.7% over that of Q4FY22 on account of higher sales volume, improved realization from the market, and favourable forex movement.
Net profit for the Quarter stood at INR 26,236 million, higher by 42.7% compared to the same period previous year.
