- Maruti Suzuki’s Q4FY23 net profit jumped 43% YoY to Rs 2,624 crore.
- The board has approved a dividend of Rs 90/share for the financial year 2022-23.
- Maruti Suzuki’s annual turnover crossed the Rs 1 lakh crore mark for the full year ending March.
|🏭 Company||Maruti Suzuki|
|💰 Q4 Net Profit||Jumped 43% YoY to Rs 2,624 crore|
|📈 Q4 Revenue||Increased 20% YoY to Rs 32,048 crore|
|💰 Dividend||Approved at Rs 90/share for FY22-23|
|🚗 Additional Creation||In-principle approval for up to 1 million vehicles per year|
|💼 Operating Profit||Increased 47% YoY|
|🚙 Q4 Sales||Sold 514,927 vehicles, 5.3% higher YoY|
|🇮🇳 Domestic Sales||450,208 units, up 7.1% YoY|
|🌍 Export Sales||64,719 units, down 5.5% YoY|
|💰 Annual Turnover||Crossed Rs 1 lakh crore mark|
|💰 FY23 Net Profit||More than doubled to Rs 8,049 crore|
Maruti Suzuki, the Delhi-based auto major, has reported a 43% YoY increase in standalone net profit to Rs 2,624 crore for the fourth quarter ending March 2023. The company had recorded a net profit of Rs 1,839 crore in the same period last year. Additionally, Maruti Suzuki’s revenue from operations rose 20% YoY to Rs 32,048 crore for Q4, compared to Rs 26,740 crore a year ago.
For the fiscal year 2022-23, Maruti Suzuki’s board has Announced a dividend of Rs 90 / share.
The board has also given in-principle approval for additional creation of up to 1 million vehicles per year. Currently, Manesar and Gurugram have a combined capacity of about 13 lakh units.The investment required for the proposed capacity addition will be finalized in due time while framing the phases of installation of capacity.
Maruti Suzuki’s operating profit for the quarter surged 47% YoY, mainly on account of higher sales volume, improved realization from the market, and favorable forex movement.
Operationally, Maruti Suzuki sold 514,927 vehicles in total during the quarter, up 5.3% from the same time last year. The company sold 450,208 units in the domestic market, an increase of 7.1% YoY. In the meantime, export market sales decreased to 64,719 units from 68,454 units in Q4FY22.
Maruti Suzuki’s annual turnover surpassed Rs 1 lakh crore for the year ending in March 2023. Despite the lack of available electronic parts, the company’s 40th anniversary year saw its highest-ever annual sales volume. The company’s yearly revenue exceeded Rs 1 lakh crore. From Rs 3,766 crore in FY22, net profit for the year more than doubled to Rs 8,049 crore.
Maruti Suzuki said its new models and product refreshers introduced during the year, especially in the utility vehicles segment, received good market response. This is a positive sign for the company as it aims to continue expanding its market share in the utility vehicles segment.
Maruti Suzuki’s Q4 results have been impressive, with the company reporting strong growth in net profit and revenue from operations. The announcement of a dividend and approval for additional creation of up to 1 million vehicles per year is expected to boost investor confidence in the company. The company’s strong sales volume, despite the shortage of electronic components, is also a positive sign for the industry. As Maruti Suzuki continues to expand its market share in the utility vehicles segment, it is likely to see continued growth in the coming years.