Maruti Suzuki India Limited · NSE:MARUTI
Maruti Suzuki India — Q3 FY2024 Earnings Presentation
18 slides from Maruti Suzuki India's earnings presentation, Jan 31, 2024
Slide 1: Exchange filing cover letter for investor presentation
MARUTI ��$SUZUKI MSIL: COS: NSE&BSE: 2024/01_21 31st January, 2024 Vice President General Manager National Stock Exchange of India Limited Department of Corporate Services “Exchange Plaza”, Bandra – Kurla Complex BSE Limited Bandra (E), Phiroze Jeejeebhoy Towers Mumbai – 400 051 Dalal Street, Mumbai
Slide 2: Q3 FY'24 and 9M FY'24 Financial Results
Maruti Suzuki India Limited Q3 FY’24 and 9M FY’24 Financial Results 31st January 2024 1
Slide 3: 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 4: Business Highlights
Business Highlights ◼ Overall ◼ For the first time, the Company crossed annual sales milestone of 2 million units in calendar year 2023 ◼ Highest ever nine-monthly sales volume, net sales and profit. ◼ Acquisition of Suzuki Motor Gujarat with over 98% of the shareholders’ votes in favor of the propo
Slide 5: Contents
Contents 1. Q3 FY’24 vs. Q3 FY’23 ➢ Ratio Comparison 2. Q3 FY’24 vs. Q2 FY’24 ➢ Ratio Comparison 3. 9M FY’24 vs. 9M FY’23 ➢ Ratio Comparison 4. Sales Volumes Note: 1. All figures in the presentation are in INR Million, except the sales volume and the ratios 2. Due to rounding-off, ratios may be appr
Slide 6: Q3 FY'24 vs. Q3 FY'23
Q3 FY’24 vs. Q3 FY’23 5
Slide 7: Highlights of Q3 FY'24 and Q3 FY'23
Highlights of Q3 FY’24 and Q3 FY’23 *All figures except sales volume are in INR million Q3 FY’24 Q3 FY’23 Sales Volume 501,207 465,911 7.6% Net Sales 318,600 278,492 14.4% Op. EBIT 31,562 21,230 48.7% PBT 40,538 29,542 37.2% PAT 31,300 23,513 33.1% 6
Slide 8: Key Financial Ratios (% of Net Sales) Q3 FY'24 vs Q3 FY'23
Key Financial Ratios (% of Net Sales) Parameter Q3 FY’24 Q3 FY’23 Change (bps) Material Cost 74.0 75.7 -170 Employee Cost 4.2 4.3 -10 Other Expenses 14.1 14.1 0 Depreciation 2.4 2.6 -20 Other Operating Income 4.5 4.3 20 Op. EBIT 9.9 7.6 230 Interest Expense 0.1 0.1 0 Non-Operating Income 2.9 3.1 -20
Slide 9: Financial Analysis of Q3 FY'24 vs. Q3 FY'23
Financial Analysis of Q3 FY’24 vs. Q3 FY’23 Key reasons for margin movement Positive Factors ◼ Softening of Commodity prices ◼ Improved capacity utilisation ◼ Improved realization ◼ Cost reduction efforts Negative Factors ◼ Higher sales promotion and advertisement expenses 8
Slide 10: Q3 FY'24 vs. Q2 FY'24
Q3 FY’24 vs. Q2 FY’24 9
Slide 11: Highlights of Q3 FY'24 and Q2 FY'24
Highlights of Q3 FY’24 and Q2 FY’24 *All figures except sales volume are in INR million Q3 FY’24 Q2 FY’24 Sales Volume 501,207 552,055 -9.2% Net Sales 318,600 355,351 -10.3% Op. EBIT 31,562 39,901 -20.9% PBT 40,538 47,986 -15.5% PAT 31,300 37,165 -15.8% 10
Slide 12: Key Financial Ratios (% of Net Sales) Q3 FY'24 vs Q2 FY'24
Key Financial Ratios (% of Net Sales) Parameter Q3 FY’24 Q2 FY’24 Change (bps) Material Cost 74.0 73.5 50 Employee Cost 4.2 3.7 50 Other Expenses 14.1 13.6 50 Depreciation 2.4 2.2 20 Other Operating Income 4.5 4.3 20 Op. EBIT 9.9 11.2 -130 Interest Expense 0.1 0.1 0 Non-Operating Income 2.9 2.4 50 P
Slide 13: Financial Analysis of Q3 FY'24 vs. Q2 FY'24
Financial Analysis of Q3 FY’24 vs. Q2 FY’24 Key reasons for margin movement Negative Factors ◼ Lower capacity utilisation ◼ Higher sales promotion and advertisement expenses Positive Factors ◼ Favorable foreign exchange variation ◼ Cost reduction efforts ◼ Higher non-operating income 12
Slide 14: 9M FY'24 vs. 9M FY'23
9M FY’24 vs. 9M FY’23 13
Slide 15: Highlights of 9M FY'24 and 9M FY'23
Highlights of 9M FY’24 and 9M FY’23 *All figures except sales volume are in INR million 9M FY’24 9M FY’23 Sales Volume 1,551,292 1,451,237 6.9% Net Sales 982,403 816,790 20.3% Op. EBIT 94,228 55,613 69.4% PBT 120,426 69,043 74.4% PAT 93,316 54,256 72.0% 14
Slide 16: Key Financial Ratios (% of Net Sales) 9M FY'24 vs 9M FY'23
Key Financial Ratios (% of Net Sales) Parameter 9M FY’24 9M FY’23 Change (bps) Material Cost 74.5 76.7 -220 Employee Cost 4.2 4.3 -10 Other Expenses 13.9 14.3 -40 Depreciation 2.3 2.5 -20 Other Operating Income 4.5 4.6 -10 Op. EBIT 9.6 6.8 280 Interest Expense 0.1 0.1 0 Non-Operating Income 2.8 1.8
Slide 17: Sales Volumes
Sales Volumes Q3 FY’24 9M FY’24 Market % to Total % to Total Total Sales Number Growth % Number Growth % sales sales Domestic 429,422 6.3% 86% 1,346,965 7.2% 87% Exports 71,785 15.8% 14% 204,327 4.9% 13% Total Sales 501,207 7.6% 100% 1,551,292 6.9% 100% Q3 FY’24 9M FY’24 Segments % to Domestic % to
Slide 18: Thank You
Thank You 17
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