Maruti Suzuki India Limited
NSE Symbol MARUTI
Financial results 2010-11
India's number one car maker Maruti Suzuki India Limited announced its financial results for the quarter ending March 31, 2011 and for the full year 2010-11.
Quarter Four
The Company registered Total Income (Net of Excise) of Rs. 102,121 million during January-March 2011, a growth of 19.19 per cent compared to Q4 2009-10. The growth in Total Income in Q4 over Q3 during the same year was 6.12 per cent.
Net Profit during January-March 2011 was Rs. 6,599 million a growth of 0.5 per cent over previous year. The growth in Net Profit in Q4 v/s Q3 2010-11 was 16.75 per cent.
Dividend
The Board of Directors recommended a dividend of 150 per cent (Rs 7.50 per share of face value Rs. 5/-). The dividend in 2009-10 was 120 per cent.
Financial Year 2010-11
The Company's Total Income (Net of Excise) for the year 2010-11 was Rs. 375,224 million, a growth of 24.6 per cent over fiscal 2009-10.
The Company's Net Profit during the year stood at Rs. 22,886 million, a drop of 8.4 per cent over 2009-10.
The company's profit was impacted by adverse currency movement, particularly on exports, higher commodity prices and new model launches.
Key Highlights of 2010-11
- Total sales of 12,71,005 vehicles during fiscal 2010-11, a growth of 24.8 per cent over fiscal 2009-10 (10,18,365 units).
- Exported 1,38,266 units in the fiscal. This included 43 per cent to European countries.
- Sold 8,08,552 units in A2 segment, a growth of 27.7 per cent.
- In the A3 segment, company sold 1,31,272 units, reflecting a growth of 32.2 per cent.
- In the C segment, sales grew by 58.5 per cent touching 1,60,626 units.
- During the year, the company expanded its countrywide network:
Number of | 31 March 2011 | 31 March 2010 | Increase |
Sales Outlets | 933 | 802 | 131 added |
Cities covered by sales network | 666 | 555 | 111 added |
Service Stations | 2946 | 2740 | 206 added |
Cities covered by service network | 1395 | 1335 | 60 added |
Maruti Driving Schools | 164 | 83 | 81 added |
SALES IN APRIL & MAY 2011
APRIL 2011 : Maruti Suzuki sold a total of 97,155 vehicles in April 2011. This includes 10,011 units for export. The company had sold a total of 93,058 vehicles in April 2010.
MAY 2011 : Maruti Suzuki sold a total of 104, 073 vehicles in May 2011. This includes 10,554 units for export. The company had sold a total of 102,175 vehicles in May 2010.
ANNOUNCEMENTS TO NSE
25-04-2011 Standalone Results for the quarter ended on 31-MAR-2011 as follows: Net Sales of Rs. 990585 lacs for quarter ending on 31-MAR-2011 against Rs. 828082 lacs for the quarter ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 65986 lacs for the quarter ending on 31-MAR-2011 against Rs. 65655 lacs for the quarter ending on 31-MAR-2010.
25-04-2011 Consolidated Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 3681172 lacs for year ending on 31-MAR-2011 against Rs. 2959152 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 238237 lacs for the year ending on 31-MAR-2011 against Rs. 262464 lacs for the year ending on 31-MAR-2010.
25-04-2011 Standalone Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 3629974 lacs for year ending on 31-MAR-2011 against Rs. 2909885 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 228864 lacs for the year ending on 31-MAR-2011 against Rs. 249762 lacs for the year ending on 31-MAR-2010.
OTHER QTRLY DETAILS
Net Sales from Operations IN LAST 5 Qtrs was Rs.9905.85 cr 9n Q4 FY 11; Rs.9326.13Cr in Q3; Rs.8977.37 Cr in Q2; Rs.8090.39 Cr in Q1 and Rs.8280.82 Cr in Q4 FY 10. This indicates a clear, improving trend on qtrly basis in respect of sales.
Net Profit was Rs.659.86 Cr in Q4 FY 11; Rs.565.17 Cr in Q3; Rs.598.24 Cr in Q2; Rs.465.36 Cr in Q1 and Rs.656.55 Cr in Q4 of FY 10. Thus Net Profit also is reasonably healthy in Q4 – though margin seems to have declined.
Basic EPS was Rs.22.84 in Q4 FY 11; Rs.19.56 in Q3; Rs. 20.71 in Q2; Rs.16.11 in Q1; and Rs.22.73 in Q4 of FY 10.
CURRENT STRIKE
The strike at Maruti Suzuki's plant in Haryana's Manesar town continued for the 12th day on 15th, June,2011. "The strike won't be called off. We want a separate union, we want it now," a representative of the strikers told IANS from Manesar.
According to him, the halt in production, which has cost Maruti a volume loss of over 11,000 cars in the last 12 days, will only be called off if all their demands, including the reinstatement of 11-sacked employees of the plant are met.
News Dated 16th, June,2011 says as follows :
News Dated 16th, June,2011 says as follows :
The 13-day strike at Maruti Suzuki India’s Manesar plant in Gurgaon was called off late last night following a deal brought out through the Haryana Chief Minister, Mr Bhupinder Singh Hooda, between the workers and the management.
As part of the deal, the company will reinstate all the sacked 11 workers and take a lenient approach on enforcing no-work no-pay rule of eight day’s salary cut for every single day of the strike.
On the other hand, the workers have conceded to the management’s demand of not allowing the formation of a second union in the company.
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