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Maruti Suzuki Q4 Review - Healthy Performance, Sustenance Holds Key: ICICI Direct

Maruti Suzuki Q4 Review - Healthy Performance, Sustenance Holds Key: ICICI Direct

A customer tries out a Maruti Suzuki India Ltd. Swift vehicle at one of the automaker's showrooms in Noida, Uttar Pradesh, India (Photographer Prashanth Vishwanathan/Bloomberg)
A customer tries out a Maruti Suzuki India Ltd. Swift vehicle at one of the automaker's showrooms in Noida, Uttar Pradesh, India (Photographer Prashanth Vishwanathan/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Maruti Suzuki India Ltd. posted a robust performance in Q4 FY22.

Total operating income for the quarter was at Rs 26,740 up 15% QoQ.

Q4 FY22 volumes came in at 4.9 lakh units, up 13.5% QoQ. Domestic volumes grew 15% QoQ to 4.2 lakh units while exports volumes rose 5.3% QoQ to 0.7 lakh units.

Average selling price came in at Rs 5.2 lakh/unit, up 1.3% QoQ. Margins surprised Maruti Suzuki this time, up ~240 basis points QoQ to 9.1%.

Gross margins expanded 174 bps QoQ while other expenses and employee costs expenses were down ~35 bps and ~30 bps, respectively.

Click on the attachment to read the full report:

ICICI Direct Maruti Suzuki Q4FY22 Result Update.pdf

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