Maruti Suzuki Q4 Review - Margin Decline To Continue, Valuations Remain Pricey: ICICI Direct
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ICICI Direct Report
Maruti Suzuki India Ltd. reported a soft Q4 FY21 performance.
Net sales were at Rs 24,024 crore, up 32% year-on-year tracking 27.8% YoY rise in volumes to 4.92 lakh units and 4% rise in average selling prices to Rs 4.66 lakh/unit.
Volumes were flattish quarter-on-quarter.
Q4 FY21 margins slipped 120 basis points QoQ to 8.3% on 135 basis points gross margin contraction.
Consequent profit after tax for Q4 FY21 was at Rs 1,166 crore, down 9.7% YoY, impacted by sharply lower other income due to mark to market loss on invested surplus.
The company declared a dividend of Rs 45 per share for FY21.
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