Maruti Suzuki posted net sales of Rs 25,514 crore for the Jan – March quarter of 2022 – an increase of 11.1% compared to the same period of the previous year.
Net profit for the quarter stood at Rs 1838.9 crore – an increase of 57.7% compared to the same quarter of last year.
Maruti sold a total of 4,88,830 vehicles during the quarter – lower by 0.7% compared to the same period the previous year. In the quarter, the sales in the domestic market stood at 4,20,376 units, a decline of 8% year on year, The sales in the export market were at 68,454 units which is the highest ever in any quarter.
For the full year (financial year 2021-22), the company sold a total of 16,52,653 vehicles during the year, up 13.4% over the previous year.
The company recorded its highest ever exports of 2,38,376 units in FY 2021-22 compared to 96,139 units in FY 2020-21.
During the full year, Maruti registered net sales of Rs 83,798.1 crore compared to Rs 66,562.1 crore in the previous year. Net profit for the year declined by 11% over the previous year to Rs 3766.3 crore.
The company mentioned that the prices of commodities such as steel, aluminium, and precious metals witnessed an unprecedented increase during this year.
The board of directors of the company has recommended a dividend of Rs 60 per share.
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The company’s management mentioned that the financial year 2022 was unique owing to an unprecedented global crisis caused by the pandemic and electronic component shortages. In quarter 1, the performance of the company was significantly affected due to COVID-19 related disruptions and lockdowns while in the rest three quarters, the performance of the Company was impacted due to electronic component shortages.
Research Analyst: Bavadharini KS