After being caught unawares by the SUV craze, Maruti overtook Mahindra to become India s largest SUV maker in the first half of FY24. It’s now looking to replicate its small-car supremacy in this space, but its hatchback sales are struggling.
Maruti Suzuki s RC Bhargava expects small car market revival in two years post two-wheeler recovery, with EV production planned for European exports. Bhargava further says: "Maruti has avoided trying to give any kind of guidance on margins or profitability or any such thing. All I can say is that I am optimistic. The conditions in India are going to be favourable"
Maruti Suzuki Q4 Results: The profit figure was higher than the Street estimate of Rs 3046 crore. The Board has also recommended a final dividend of Rs 125 per share for the financial year 2023-24. For the full financial year, the automakers standalone PAT stood at Rs 13,209 crore, up over 64% YoY compared to Rs 8,049 crore reported in FY23.
Maruti Suzuki Q4 earnings: Nomura India sees Maruti Suzuki India's profit at Rs 4,265 crore, up 63 per cent YoY. It sees sales for MSIL rising 21 per cent YoY to Rs 38,693 crore. This brokerage sees margin at 13.9 per cent, up 347 basis points.