Maruti Suzuki Q4 Review - Profitability A Concern: IDBI Capital
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IDBI Capital Report
Maruti Suzuki India Ltd.'s Q4 FY21 results were below our and consensus estimates at Ebitda and adjusted profit after tax level due to higher raw material cost, higher other expenses and significantly lower other income.
We believe the company has been very conservative in terms of taking the price hike considering uncertain demand scenario in last two years.
We expect higher commodity prices; increase in operating expenses, adverse product mix (market share loss in utility vehicle segment) would impact operating profits in near term.
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