Maruti Suzuki FY24 Q4 Results: A Complete Breakdown of Results

The Indian subsidiary of Japanese automaker Suzuki Motor Corporation, Maruti Suzuki India Ltd. has reported a net profit of Rs.3,877.8 crores in Q4 FY 2023-24 which is up 47% from Q4 FY 2022-23 but has still missed the expectations of analysts. The company has also declared a dividend of Rs.125 per share.

The company with products like Baleno, Swift, Brezza and Invicto reported a full-year sales volume of 2,135,323 vehicles. Out of which sales for the domestic market stood at 18,52,256 units and export sales stood at 2,83,067 units.

Breakdown of Results

Maruti Suzuki’s Total Revenue for the year stood at Rs.38,235  crores for Q4 FY 2023-24 which is up by 19.3% from Rs.32,048 crores of Q3 FY 2022-23. Expenses for the quarter increased to Rs.34,355 crores from Rs.29.536 crores in Q4 FY 2022-23.

The Profit Before Tax for Maruti Suzuki Ltd. stood at around Rs.4997 crores, 50% up on  YoY Basis from Q4 FY 2022-23. The Net Profit for the Year stood at Rs.3,877 crores which is up by 47% from Rs.2388 crores reported in Q4 FY 2023-24.

How Well The Results Have Fared Against Expectations?

The Largest Car Maker in India reported a net profit of Rs.3,877 crores, the number reported was lower than analyst expectations of Rs.3,916 crores, though it had a jump of 47% on a YoY basis as compared to Q4 FY 2022-23. 

On Top Line Basis, The Total Revenue stood at Rs.38,235 Crores which was up by 19.3% from last year but this was also reported marginally lower when compared to the analyst expectations of Rs.38,672 Crores.

EBITDA Margins were also reported at 12.2% for the Q4 FY 2023-24 which was below the market estimates of 13.4%.

Conclusion: Maruti Suzuki has performed better in every parameter when compared to a YoY basis but in actual terms the results reported are marginally lower than analyst expectations in most of the parameters. The company has declared a record dividend of Rs.125 per share, The company has now remained the country’s top exporter of passenger vehicles for the third year in a row. Its share price closed at Rs.12760 a piece on 26th April.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.