The Board of Directors of Maruti Suzuki India Limited today approved the financial results for the year ended on 31st March 2022.
Production during the year was impacted by shortage of electronic components by an estimated 270,000 vehicles, mostly domestic models, because of which there were pending customer bookings of about 268,000 vehicles at the end of the year. In addition, the first quarter witnessed a disruption owing to the second Covid wave.
Highlights: Quarter 4 (January-March), FY 2021-22
The Company sold a total of 488,830 vehicles during the Quarter, lower by 0.7% compared to the same period previous year.
During the Quarter, the Company registered Net Sales of INR 255,140 million, an increase of 11.1% compared to the same period of the previous year.
The prices of commodities such as steel, aluminium and precious metals witnessed an unprecedented increase during this year. The Company was forced to increase prices of vehicles to partially offset this impact. The Company continued to work on cost reduction efforts to minimize the impact on customers.
With this, the operating profit for the Quarter stood at INR 17,796 million, a growth of 42.4% over that of Q4FY21.
Net profit for the Quarter stood at INR 18,389 million, higher by 57.7% compared to the same period last year.
Highlights: Full Year (April-March), FY 2021-22
The Company sold a total of 1,652,653 vehicles during the year, up 13.4% over the previous year. The sales in the domestic market stood at 1,414,277 units, an increase of 3.9% over FY 2020-21.
The Company recorded its highest ever exports of 238,376 units in FY 2021-22 compared to 96,139 units in FY 2020-21. This was also about 62% higher than the peak exports in any financial year so far.
During the period, the Company registered Net Sales of INR 837,981 million compared to INR 665,621 million in FY 2020-21.
Despite a 26% increase in Net Sales, the Net Profit for the period declined by 11% over previous year to INR 37,663 million.
Dividend
Though the profit in FY 2021-22 was lower, the Board of Directors recommended a dividend of INR 60 per share (face value of INR 5 per share) compared to INR 45 per share in FY 2020-21. This is a special one-time gesture to thank shareholders for their patronage and support as the Company commemorates its 40th year since inception.
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