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Maruti Suzuki Share Quarterly Results
Last Updated: 8th August 2022 - 06:44 pm
Auto companies have not been having the best of times. Sales are under pressure due to weak demand. At the same time, output is constrained due to a shortage of microchips. To add their problems, input costs are sharply up. Auto companies like Maruti have resorted to a series of price hikes, but that has just partially offset their challenges.
Quarterly Numbers of Maruti Suzuki
Rs in Crore |
Dec-21 |
Dec-20 |
YOY |
Sep-21 |
QOQ |
Total Income (Rs cr) |
₹ 23,253 |
₹ 23,471 |
-0.93% |
₹ 20,551 |
13.15% |
EBITDA (Rs cr) |
₹ 919 |
₹ 1,485 |
-38.11% |
₹ 154 |
497.92% |
Net Profit (Rs cr) |
₹ 1,042 |
₹ 1,997 |
-47.82% |
₹ 487 |
113.97% |
Diluted EPS (Rs) |
₹ 34.49 |
₹ 66.10 |
₹ 16.12 |
||
EBITDA Margin |
3.95% |
6.33% |
0.75% |
||
Net Margins |
4.48% |
8.51% |
2.37% |
Maruti Suzuki reported marginal -0.93% tapering of sales for the Dec-21 quarter at Rs.23,253 crore on a YoY basis. Let us now turn to volumes. During the December 2021 quarter, sales volumes of Maruti Suzuki stood at 430,668 units compared to 495,897 units in the Dec-20 quarter. This sharp fall in volumes is largely on account of plant shutdowns for prolonged periods of time.
The plant shutdowns were forced on the company due to a shortage of microchips and other key electronic components. However, volumes have shown positive traction on sequential basis. On a sequential basis, the revenues were up by 13.15% with positive traction seen on volumes and also on sales due to better pricing. It would be April 2022 by the time Maruti returns to normal capacity volumes.
For Dec-21 quarter, operating profits were down -38.11%. The sharp fall in operating profits was on account of volume pressure and pressure on input costs. For instance, material costs were up as a share of sales in Q3. Price hikes only compensated partially for the higher input costs in the quarter. Operating margins contracted from 6.33% in Dec-20 quarter to 3.95% in Dec-21 quarter. Operating margins were however higher on a sequential basis.
Net Profits for the Dec-21 quarter were sharply lower by -47.82% YoY at Rs.1,042 crore due to the transmission of the operating profit pressures on the bottom line. In addition, there was also the pressure from lower non-operating income in the latest quarter. Net profit margins contracted from 8.51% in the Dec-20 quarter to 4.48% in the Dec-21 quarter. However, the net margins were 211 bps higher on a sequential basis.
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