R. C. Bhargava, Chairman, Maruti Suzuki India Ltd.
T he Board of Directors of Maruti Suzuki India Limited today approved the financial results for the year 2013-14 and for the quarter ending March 2014.
Highlights 2013-14
The Company sold a total of 1,155,041 vehicles during the year, a drop of 1.4 per cent over the previous year. Sales in the domestic market stood at 1,053,689 units, a growth of 0.3 per cent. Exports were at 101,352 units, a drop of 15.8 per cent. The Company’s market performance showed positive indications during the year. The Company registered Net Sales (net of excise) of Rs. 426,448 million, up about 0.1 per cent over the previous year. Net Profit during the year was Rs 27,831 million, a growth of 16.3 per cent compared to 2012-13. The Company’s cost reduction and localization initiatives, together with favourable foreign exchange, helped improve profit margins despite tough economic conditions.
Highlights Quarter 4 (January-March 2014)
During the Quarter, the Company sold 324,870 vehicles. Domestic sales in the quarter were 298,596 units compared to 308,871 units in the same period of the previous year. Exports were at 26,274 units, a drop of 24.6 per cent. The Company’s Net Sales stood at Rs 118,181 million, a drop of 9.48 per cent over the same period last fiscal. Net Profit during the Quarter stood at Rs 8,001 million, a drop of 35.46 per cent. Lower volumes, higher sales promotion expense and a stock compensation to dealers owing to reduction in excise duty (exceptional expense) impacted the Company’s bottomline during the Quarter. In the fiscal 2012-13, Suzuki Powertrain India Limited was merged with Maruti Suzuki India Limited. Financials for quarter IV 2012-13 include full impact of the merger.
Dividend
The Board of Directors recommended a dividend of 240 per cent (Rs 12/per share of face value Rs. 5/-) for 2013-14. The dividend in 2012-13 was at 160 per cent. (Rs 8/- per share of face value Rs. 5/-).
Issued in Customer Interest
Maruti Suzuki to recall 103,311 vehicles (Ertiga, Swift and DZire) starting 11th April Maruti Suzuki India Limited today announced that it will proactively replace ‘fuel filler neck’ of 103,311 vehicles (42,481 units of DZire, 47,237 units of Swift and 13,593 units of Ertiga) manufactured between 12th November 2013 and 4th February 2014. This exercise is limited to vehicles within the above specified range and does not pertain to any other vehicle of the Company. In the affected vehicles there is a possibility of fuel smell and in extreme condition there may be some fuel leakage, if fuel is filled upto the Fuel Cap, beyond ‘Auto cutoff level’. Maruti Suzuki dealers will contact owners of all vehicles in the above mentioned range. The Company will replace the ‘fuel filler neck’ free of cost. As part of its regular Quality tests in the
manufacturing process, the Company noticed the problem. The new fuel filler neck is being progressively despatched to the dealer workshops. Considering the number of vehicles impacted, the Company is building up stock of the required component at its dealer workshops, before inviting customers. Users of Maruti Suzuki cars (Swift, Dzire and Ertiga) who have bought their cars post 12th November 2013 can check the Company website www.marutisuzuki.com to ascertain if their car is among the above mentioned vehicles. This information will be available from 11th April onwards. The customer is requested to fill in the chassis number (MA3 followed by 14 digit alphanumeric number) on the computer screen. The chassis number is embossed on the vehicle ID plate and is also in the vehicle invoice / registration documents. Customers may also contact the nearest Maruti Suzuki dealer workshop to ascertain if their vehicle is among the above vehicles.
Company at a glance
If you have travelled in India, taken a route to anywhere around this great nation, chances are you’ve driven with us. For over three decades now, Maruti Suzuki cars have been going places.
We started out in 1982 in Gurgaon, Haryana. Little did the then quiet suburb of New Delhi know, that it was going to become the epicenter of the automobile revolution in India. The year marked the birth of the Maruti Suzuki factory. India turned out 40,000 cars every year. The new Maruti Suzuki 800 hit the streets to begin a whole new chapter in the Indian automobile industry. We set out with an obsession for customer delight, one that was unheard in the corridors of automobile manufacturers then. It was about a commitment to create value through innovation, quality, creativity, partnerships, openness and learning. It created a road that was going to lead the world in to a whole new direction, laid out by Maruti Suzuki. Today, Maruti Suzuki alone makes 1.5 million family cars every year. That’s one car every 12 seconds. We drove up head and shoulders above every major global auto company. Yet, our story was not just about making a mark. It was about revolutionary cars that delivered great performance, efficiency and environment friendliness with low cost of ownership. That’s what we call true value. We built our story with a belief in small cars for a big future. Our story encouraged millions of Indians to make driving a way of life. India stepped up with our vision to take on the fast lane. A comradeship had begun. Something incredible had begun. So, what drives us? Millions of Indians who’ve put their faith in us. A team of over 12500 dedicated and passionate professionals that turned out 14 cars with over 150 variants. The drive is backed up by a nationwide service network spanning over 1446 cities and towns and a sales network that spreads across 1020 cities, 2 state of art factories, a diesel engine plant with a capacity upped to turn out 7 lakh diesel cars a year and, a commitment to road safety to make Indian roads safer. Finally, our inspiration comes from one place – India’s hopes, dreams and aspirations. The Maruti Suzuki journey has been nothing less than spectacular. But to be honest, we’ve only just begun.