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  • Corporate Results - Detailed News
Maruti Suzuki India
31-Jan-20   11:27 Hrs IST
Standalone sales for the quarter ended December 31, 2019 was up by 5% to Rs 20706.80 crore driven by growth in volume as well as realisation. Higher sales together with 40 bps expansion in OPM to 10.2%, facilitated 9% growth in operating profit to Rs 2102.10 crore. After accounting for lower other income, higher interest and depreciation cost, the PBT was down by 3% to Rs 2006.40 crore. With taxation down by 23% to Rs 441.60 crore, the PAT was up by 5% to Rs 1564.80 crore.
  • Sales volume for the period increased by 2%yoy to 437361 vehicles with domestic sales up by 2%yoy to 413698 vehicles and exports up by 2.7%yoy to 23663 vehicles. Growth in volume for the quarter comes on the back of strong festival demand as well as aggressive sales promotional activity of the company. The early single digit growth in sales was largely due to 16% growth in compact cars and 8.7% growth in UVs. Thus gained by higher volume and higher realisation the sales was up by 5% to Rs 20706.80 crore.
  • OPM expanded by 40 bps to 10.2% and that is despite higher sales promotion expenses which was more than compensated by lower material cost on benign commodity prices, lower employee cost as well as cost control measures of the company. Material cost as % of sales net of stocks was lower by 20 bps to 71.2%, the staff cost was down by 10 bps to 4.4% and OE was down by 60 bps to 13.9%. Thus facilitated by higher sales and marginal expansion in OPM, the OP was up by 9% to Rs 2102.10 crore.
  • With other income down by 15% to Rs 784 crore, the growth at PBIDT was restricted at 1% to Rs 2886.10 crore. The interest cost and depreciation stood higher by 5%( to Rs 21.70 crore) and 12% (to Rs 858 crore) respectively. Thus the PBT was down by 3% to Rs 2006.40 crore. The tax was lower by 23% to Rs 441.60 crore gained by cut in corporate tax by GOI. Thus gained the PAT was up by 5% to Rs 1564.80 crore.

Consolidated sales for the period was up by 5% to Rs 20721.80 crore and together with 40 bps expansion in OOM to 10.2%, the OP was up by 9% to Rs 2105 crore. Eventually the netprofit after MI was up by 4% to Rs 1586.90 crore gained largely by lower tax incidence.

Nine-month performance

On a standalone basis, for the nine months ended December 31, 2019, the sales of the company was down by 11% to Rs 57411.9 crore. Lower sale together with 350 bps contraction in OPM has resulted in 34% fall in operating profit to Rs 5756.20 crore. However the fall at PBT was restricted at 33% to Rs 5489.30 crore gained by higher other income even as the interest cost and depreciation stood higher for the period. With taxation stand lower by 54% to Rs 1130.4 crore, the fall at PAT level moderated further to stand at 24% to Rs 4358.90 crore.

Consolidated sales for the period was down by 11% to Rs 57452.30 crore and the netprofit after MI was down by 25% to Rs4353.80 crore.

Other developments

The company on Jan 27, 2020 has announced price increase for select models owing to increase in input costs which will be effective from Jan 27, 2020. The average price increase announced and effective from Jan 27, 2020 will be in the range of 0-4% (showroom Delhi).

Maruti Suzuki : Result


1912 (3)1812 (3)Var.(%)1912 (9)1812 (9)Var.(%)1903 (12)1803 (12)Var. (%)
OPM (%)10.29.810.013.512.814.7
Other income784.00917.30-152540.401693.30502561.002045.5025
PBT after EO2006.402060.10-35489.308153.50-3310465.6011003.40-5
EPS (Rs)*####248.3255.6
* Annualised on current equity of Rs 151.04 crore. Face Value: Rs 5
# EPS is not annualised due to seasonality of business
Var. (%) exceeding 999 has been truncated to 999
LP: Loss to Profit PL: Profit to Loss
EO: Extraordinary items
EPS is based on PAT
Figures in Rs crore
Source: Capitaline Corporate Database

Maruti Suzuki: Consolidated Results


1912 (3)1812 (3)Var.(%)1912 (9)1812 (9)Var.(%)1903 (12)
OPM (%)10.29.810.013.512.8
Other inc.784.10917.70-152454.201694.00452561.60
PBT before P/L from JV2007.602060.50-35408.608154.50-3410468.10
JV/Associate Profit/Loss Share18.7035.20-4775.60114.60-34155.70
PBT 2026.302095.70-35484.208269.10-3410623.80
Non Controlling Interest (NCI)0.500.5001.501.00501.50
Net Profit 1586.901524.0044353.805818.80-257649.10
EPS (Rs)*####253.2
* Annualised on current equity of Rs 151.04 crore. Face Value: Rs 5
# EPS is not annualised due to seasonality of business
Figures in Rs crore
Source: Capitaline Corporate Database

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