The Board of Directors of Maruti Suzuki India Limited approved the financial results for the financial year April 2018-March 2019 and Quarter 4 (Jan-Mar 2019)
Highlights: Full year (April-March 2019)
The Company sold a total of 1,753,700 units in the domestic market, a growth of 6.1%. This comprised 1,729,826 units in the passenger vehicle segment, a growth of 5.3% and 23,874 units of LCV, a growth of 138% over previous year. Exports were at 108,749 units.
Total Sales in the year stood at 1,862,449 vehicles, a growth of 4.7%.
The Company’s net sales stood at Rs 830,265 million in FY 2018-19, a growth of 6.3% over the same period previous year.
Net profit for the year stood at Rs 75,006 million, lower by 2.9% compared to the same period previous year.
This was a difficult year because of adverse foreign exchange rates and increase in commodity prices. The second SMG plant in Gujarat was commissioned leading to a higher depreciation expense. The overall market was slow and had to be supported by higher sales promotion expenses. This was partially offset by cost reduction efforts.
Highlights: Quarter 4 (January-March 2019)
The Company sold a total of 428,863 units in the domestic market, a growth of 0.4%. This comprised 421,383 units in the passenger vehicle segment, a decline of 0.4% and 7,480 units of LCV, a growth of 83.6% over previous year. Exports were at 29,616 units.
Total Sales in the quarter stood at 458,479 vehicles, a decline of 0.7%.
During the Quarter, the Company registered Net Sales of Rs. 207,375 million, up by 0.7% over the same period previous year.
Net profit in the Quarter stood at Rs 17,956 million, lower by 4.6% compared to the same period previous year. This quarter was marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses partially offset by cost reduction efforts.
The Board of Directors recommended a dividend of Rs. 80/- per share of face value Rs. 5/- for 2018-19, the same as that of last year.
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