Maruti Suzuki India Limited · NSE:MARUTI
Maruti Suzuki India — Q2 FY2012 Earnings Presentation
15 slides from Maruti Suzuki India's earnings presentation, Oct 29, 2011
Slide 1: Maruti Suzuki India Limited Q2 FY'12 Financial Results
Maruti Suzuki India Limited Q2 FY’12 Financial Results 29th Oct, 2011 1
Slide 2: Safe Harbour
Safe Harbour This presentation might contain forward looking statements which involve a number of risks, uncertainties and other factors that could cause the actual results to differ materially from those in the forward looking statements. The Company undertakes no obligation to update these to refl
Slide 3: Contents
Contents 1. Q2 FY’12 vs Q1 FY’12 Ratio Comparison Analysis 2. Q2 FY’12 vs Q2 FY’11 Ratio Comparison Analysis 3. H1 FY’12 vs H1 FY’11 4. Sales Volumes 5. Going Forward 3
Slide 4: Financial Highlights Q2 FY'12 & Growth over Q1 FY'12
Financial Highlights Q2 FY’12 & Growth over Q1 FY’12 Sales Volume 252,307 Veh. (10.4)% Net Sales 75,375 Mn (9.4)% Op. EBIDTA 4,942 Mn (39.3)% PBT 3,346 Mn (55.1)% PAT 2,404 Mn (56.2)% 4
Slide 5: Key Financial Ratios (% of Net Sales) Q2 FY'12 vs Q1 FY'12
Key Financial Ratios (% of Net Sales) Parameter Q2 FY’12 Q1 FY’12 Change bps Material Cost 81.7 80.5 120 Employee Cost 2.6 2.2 40 Selling & Distribution expenses 3.5 2.5 100 Manufacturing expenses 9.5 7.6 190 Royalty 6.0 4.8 120 Other Manufacturing expenses 3.5 2.8 70 Op. EBIDTA 6.6 9.8 (320) Deprec
Slide 6: Financial Analysis Q2 FY'12 vs Q1 FY'12
Financial Analysis Q2 FY’12 vs Q1 FY’12 Material Cost to Net Sales – higher by 120bps Higher sales discounts Commodity hedge M2M Mfg. & Admin Cost to Net Sales – higher by 190bps Yen appreciation impact on royalty (for Q1 & Q2) Selling & Distribution Cost to Net Sales – higher by 100bps High
Slide 7: Year-on-Year Comparison: Q2 FY'12 vs Q2 FY'11
Year-on-Year Comparison… Q2 FY’12 vs Q2 FY’11 7
Slide 8: Financial Highlights Q2 FY'12 & Growth over Q2 FY'11
Financial Highlights Q2 FY’12 & Growth over Q2 FY’11 Sales Volume 252,307 Veh. (19.6)% Net Sales 75,375 Mn (15.7)% Op. EBIDTA 4,942 Mn (48.5)% PBT 3,346 Mn (60.5)% PAT 2,404 Mn (59.8)% 8
Slide 9: Key Financial Ratios (% of Net Sales) Q2 FY'12 vs Q2 FY'11
Key Financial Ratios (% of Net Sales) Parameter Q2 FY’12 Q2 FY’11 Change bps Material Cost 81.7 79.2 250 Employee Cost 2.6 1.8 80 Selling & Distribution expenses 3.5 2.6 90 Manufacturing expenses 9.5 8.1 140 Royalty 6.0 5.5 50 Other Manufacturing expenses 3.5 2.6 90 Op. EBIDTA 6.6 10.7 (410) Depreci
Slide 10: Financial Analysis Q2 FY'12 vs Q2 FY'11
Financial Analysis Q2 FY’12 vs Q2 FY’11 Material Cost to Net Sales – higher by 250bps Higher commodity prices Higher sales discounts Commodity hedge M2M Mfg. & Admin Cost to Net Sales – higher by 140bps Yen appreciation impact on royalty (for Q1 & Q2) Selling & Distribution Cost to Net Sales
Slide 11: Half yearly comparison: H1 FY'12 vs H1 FY'11
Half yearly comparison… H1 FY’12 vs H1 FY’11 11
Slide 12: Key Financial Ratios (% of Net Sales) H1 FY'12 vs H1 FY'11
Key Financial Ratios (% of Net Sales) Parameter H1 FY’12 H1 FY’11 Change bps Material Cost 81.0 79.4 160 Employee Cost 2.4 1.9 50 Selling & Distribution expenses 3.0 2.8 20 Manufacturing expenses 8.5 8.4 10 Royalty 5.4 5.8 (40) Other Manufacturing expenses 3.1 2.6 50 Op. EBIDTA 8.3 10.3 (200) Deprec
Slide 13: Sales Volumes
Sales Volumes Market Q2 FY’12 % to Total Q2 FY’11 % to Total % Growth sales sales Total Sales Domestic 222,406 88.1% 277,936 88.6% (20.0)% Exports 29,901 11.9% 35,718 11.4% (16.3)% Total Sales 252,307 100.0% 313,654 100.0% (19.6)% Market H1 FY’12 % to Total H1 FY’11 % to Total % Growth sales sales T
Slide 14: Going Forward
Going Forward Macroeconomic concerns – Fuel prices, Interest rates Uncertainty on foreign exchange Strong customer demand for some models Increased Capacity Strong product pipeline 14
Slide 15: Thank You
Thank You 15
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