Maruti Suzuki Q4 Results FY2023, Net profit at Rs. 26,236 Million, up by 42.67%

On 26th April, Maruti Suzuki announced its results for the last quarter of FY2023.

Maruti Suzuki Net Sales:

- In FY2023 the Company registered Net Sales of Rs. 1,125,008 million compared with Rs. 837,981 million in FY2021-22.
- The Company sold a total of 514,927 vehicles during the Quarter, higher by 5.3% compared to the same period the previous year.
- During the Quarter, the Company registered Net Sales of Rs. 308,218 million, an increase of 20.8% compared to the same period, the previous year.

Maruti Suzuki Net Profit:

- The Company recorded an Operating Profit of Rs. 81,844 million in FY2022-23 as against Rs. 29,147 million in FY2021-22. The Company was able to better its operating profit on account of higher sales volume, improved realization from the market, and favorable forex movement. With this, the Net Profit for the year rose to Rs. 80,492 million from Rs. 37,663 million in FY2021-22
- The Operating Profit for the Quarter stood at Rs. 26,111 million, a growth of 46.7% over that of Q4FY22 on account of higher sales volume, improved realization from the market, and favorable forex movement. 
- Net profit for the Quarter stood at Rs. 26,236 million, higher by 42.7% compared to the same period the previous year.

Maruti Suzuki Business Highlights:

- For FY2023, the Company sold a total of 1,966,164 vehicles despite missing production of about 170,000 units due to a shortage of electronic components. This translated to a growth of 19% over FY2021-22 sales volume of 1,652,653 vehicles.
- Sales volume in the year comprised 1,706,831 units in the domestic market and the highest-ever exports of 259,333 units.
- In the Quarter, the sales in the domestic market stood at 450,208 units, up by 7.1% over that in Q4FY22. The sales in the export market were at 64,719 units as compared to 68,454 units in Q4FY22 
- Maruti Suzuki recorded its highest-ever annual sales volume. The annual turnover of the Company surpassed Rs. 1 lakh crore mark.
- The new models and product refreshers introduced during the year, especially in the Utility Vehicles segment received a good market response.
- In light of the estimated market demand including exports, the board in principle approved the creation of an additional capacity of up to one million vehicles per year. 
- The Board of Directors recommended a highest-ever dividend of Rs. 90 per share (face value of Rs. 5 per share) compared to Rs. 60 per share in FY 2021-22.