MARUTI SUZUKI Announces Quarterly Results (3QFY21); Net Profit Up 24.1%

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MARUTI SUZUKI Announces Quarterly Results (3QFY21); Net Profit Up 24.1%
Thu, 28 Jan

MARUTI SUZUKI has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

MARUTI SUZUKI Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m207,068187,445222,36718.6%7.4%
Other incomeRs m7,8406,0259,93764.9%26.7%
TurnoverRs m214,908193,470232,30420.1%8.1%
ExpensesRs m186,047168,109212,31726.3%14.1%
Gross profitRs m21,02119,33622,26115.1%5.9%
DepreciationRs m8,5807,6597,413-3.2%-13.6%
InterestRs m21722428728.1%32.3%
Profit before taxRs m20,06417,47824,49840.2%22.1%
TaxRs m4,4163,7625,08435.1%15.1%
Profit after taxRs m15,64813,71619,41441.5%24.1%
Gross profit margin%10.210.310.0
Effective tax rate%22.021.520.8
Net profit margin%7.37.18.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 7.4% on a year-on-year (YoY) basis. The expenses were up by 14.1% YoY during the same period.
  • The company's operating profit increased by 5.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 10.0% in 3QFY21.
  • Depreciation charges declined by 13.6% and finance costs increased by 32.3% YoY, respectively.
  • Other income increased by 26.7% YoY during the quarter.
  • Net profit for the quarter increased by 24.1% YoY. Net profit margins during the quarter increased from 7.3% in 3QFY20 to 8.4% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 18.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 26.3% QoQ during the same period.
  • The company's operating profit increased by 15.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.0% in 3QFY21 as against 10.3% in 2QFY20.
  • Net profit for the quarter increased by 41.5% QoQ, while net profit margins increased from 7.1% in 2QFY20 to 8.4% in 3QFY21.

To see how MARUTI SUZUKI has performed over the last eight quarters,please visit here.

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MARUTI SUZUKI Share Price Performance

Over the last one year, MARUTI SUZUKI share price has moved up from Rs 6,997.0 to Rs 7,595.0, registering a Gain of Rs 598.0 or around 8.5%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 22,712.8 (down 1.3%). Over the last one year it has moved up from 18,319.9 to 22,712.8, a gain of 4,393 points (up 24.0%).

Overall, the S&P BSE SENSEX is up 13.6% over the year.

Current Valuations

At the current price of Rs 7,595.0, the price to earnings (P/E) ratio of MARUTI SUZUKI stands at 52.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.6 times.

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