Total vehicle sales
498,030
+6.4% YoY
Total vehicles sold in Q1 FY24, including domestic and exports.
MARUTI
Diversified
28 Jul 2023
Maruti Ltd — Q1 FY24
Maruti Suzuki reported a strong Q1 FY24 with revenue of INR 30,845 crore (+22% YoY) and PAT of INR 2,485 crore (+145% YoY), driven by higher volumes, improved realization, and cost reduction.
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
Maruti Suzuki reported a strong Q1 FY24 with revenue of INR 30,845 crore (+22% YoY) and PAT of INR 2,485 crore (+145% YoY), driven by higher volumes, improved realization, and cost reduction. Domestic sales grew 9.1% to 434,812 units, while exports declined. The company launched three SUVs (Fronx, Jimny, Invicto) and achieved a 20% SUV market share. CNG penetration hit a record 27% with 113,000 units sold. Management announced plans to acquire Suzuki Motor Gujarat (SMG) to integrate production and target 4 million units annual capacity by 2030-31. Pending orders stood at 355,000 vehicles. Risks include ongoing semiconductor shortages (28,000 units lost in Q1) and potential demand slowdown in small cars.
मारुति सुजुकी ने पहली तिमाही में अच्छा प्रदर्शन किया। कंपनी की कमाई 30,845 करोड़ रुपये रही, जो पिछले साल से 22% ज्यादा है। मुनाफा 2,485 करोड़ रुपये हुआ, जो 145% बढ़ा। इसकी वजह ज्यादा गाड़ियों की बिक्री, बेहतर कीमतें और लागत में कमी है। देश में 434,812 गाड़ियां बिकीं, जो 9.1% ज्यादा हैं। कंपनी ने तीन नई एसयूवी लॉन्च कीं और एसयूवी बाजार में 20% हिस्सेदारी हासिल की। सीएनजी गाड़ियों की बिक्री रिकॉर्ड 27% रही। कंपनी 2030-31 तक सालाना 40 लाख गाड़ियां बनाने का लक्ष्य लेकर चल रही है। अभी 3.55 लाख गाड़ियों के ऑर्डर बकाया हैं। चिंता की बात यह है कि चिप की कमी से 28,000 गाड़ियों का उत्पादन प्रभावित हुआ और छोटी गाड़ियों की मांग धीमी हो सकती है।
Key Numbers
SUV market share
20%
+8pp YoY
SUV segment market share in Q1, driven by new launches.
CNG penetration
27%
+8pp YoY
Highest-ever CNG penetration, with 113,000 CNG vehicles sold.
Pending customer orders
355,000
-57,000 QoQ
Order book reduced from 412,000 at end of Q4 FY23.
Management Guidance
Acquire SMG by March 2024
Board approved acquisition of Suzuki Motor Gujarat shares from SMC, to be completed within FY24 at net book value.
Management guidance expansionTarget 4 million units capacity by 2030-31
Production capacity to double from current levels, with 1 million capacity at Kharkhoda and additional 1 million under study.
Management guidance growthEV launch in next financial year
EV manufacturing facility at SMG will be part of MSIL; launch expected in FY25.
Management guidance ai_strategyKey Risks
Semiconductor shortage persists
Electronic component shortages caused 28,000 units of lost production in Q1; limited visibility on supplies.
high · management_commentarySmall car segment slowdown
Small car share declined to 32% of industry; first-time buyer ratio fell to 40% from 42-44%.
medium · analyst_questionDiscounts and inventory pressure
Discounts increased to INR 16,214 per vehicle from INR 12,748 YoY; dealer inventory at 125,000 units (~4 weeks).
medium · data_observationNotable Quotes
The company could not produce about 28,000 vehicles in quarter one of this financial year.
We wish to complete it within this financial year, within March 2024.
The contract manufacturing agreement is very clear about it. There cannot be a deviation from the approval given by the minority shareholders.
Frequently Asked Questions
What was Maruti's revenue in Q1 FY24?
Maruti reported revenue of ₹30,845 Cr in Q1 FY24, representing a +22% change compared to the same quarter last year.
What guidance did Maruti management give for FY25?
Acquire SMG by March 2024: Board approved acquisition of Suzuki Motor Gujarat shares from SMC, to be completed within FY24 at net book value. Target 4 million units capacity by 2030-31: Production capacity to double from current levels, with 1 million capacity at Kharkhoda and additional 1 million under study. EV launch in next financial year: EV manufacturing facility at SMG will be part of MSIL; launch expected in FY25.
What are the key risks for Maruti in FY25?
Key risks include Semiconductor shortage persists — Electronic component shortages caused 28,000 units of lost production in Q1; limited visibility on supplies.; Small car segment slowdown — Small car share declined to 32% of industry; first-time buyer ratio fell to 40% from 42-44%.; Discounts and inventory pressure — Discounts increased to INR 16,214 per vehicle from INR 12,748 YoY; dealer inventory at 125,000 units (~4 weeks)..
Did Maruti meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Maruti Q1 FY24 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.