Maruti Suzuki India Limited

Q3 FY’23 and 9M FY’23 Financial Results

24th January 2023

1
Safe Harbour

This presentation might contain forward looking statements which involve a number of risks, uncertainties
and other factors that could cause the actual results to differ materially from those in the forward looking
statements. The Company undertakes no obligation to update these to reflect the events or circumstances
thereof. Secondly, these statements should be understood in conjunction with the risks the company faces.

2
Global premiere of JIMNY and FRONX at Auto Expo 2023

3
Product and Technologies Highlights
◼ Global premiere

◼ Concept Electric SUV “eVX”

◼ Legendry off-roader JIMNY (5-door)

◼ Sporty compact SUV FRONX

◼ Unveiling of WagonR Flex Fuel vehicle, India’s first mass segment Flex Fuel prototype car

◼ S-CNG offerings expansion:

◼ Alto K10 ◼ Baleno

◼ S-Presso ◼ XL6

◼ Grand Vitara

4
Business Highlights
◼ Highest ever total sales and exports in CY2022

◼ Total sales : 1,940,067 units

◼ Exports : 263,068 units

◼ Cumulative production crosses 25 million units

◼ Sales network grows to 3,500+ outlets

◼ Lowest carbon emitting fleet in India*

◼ Record dispatches of 3.2 lakh+ vehicles using railways in CY2022

* As per MoRTH Annual Fuel consumption compliance report 2021-22

5
 Contents

1. Q3 FY’23 vs. Q3 FY’22

➢ Ratio Comparison

2. Q3 FY’23 vs. Q2 FY’23

➢ Ratio Comparison

3. 9M FY’23 vs. 9M FY’22

➢ Ratio Comparison

4. Sales Volumes

Note: 1. All figures in the presentation are in INR mn except sales volume and ratios
2. Due to rounding-off, ratios may be approximate
6
Q3 FY’23

vs.

Q3 FY’22

7
Highlights of Q3 FY’23 W.R.T. Q3 FY’22

*All figures except sales volume are in INR million

Q3 FY'23 Q3 FY'22

Sales Volume 465,911 430,668

Net Sales 278,492 221,876

Op. EBIT 21,230 9,190

PBT 29,542 12,218

PAT 23,513 10,113

8
Key Financial Ratios (% of Net Sales)

Parameter Q3 FY'23 Q3 FY’22 Change (bps)

Material Cost 75.7 78.8 -310

Employee Cost 4.3 4.4 -10

Other Expenses 14.1 14.6 -50

Depreciation 2.6 2.9 -30

Other Operating Income 4.3 4.8 -50

Op. EBIT 7.6 4.1 350

Interest Expense 0.1 0.1 0

Non-Operating Income 3.1 1.5 160

PBT 10.6 5.5 510

PAT 8.4 4.6 380

Red color denotes adverse movement.

Green color denotes favorable movement.
9
Financial Analysis of Q3 FY’23 vs. Q3 FY’22
Key reasons for margin movement

Positive Factors
◼ Cost reduction efforts
◼ Improved realisation
◼ Favorable foreign exchange variation
◼ Softening of Commodity prices
◼ Higher non-operating income

Negative Factors
◼ Higher sales promotion expenses

10
Q3 FY’23

vs.

Q2 FY’23

11
Highlights of Q3 FY’23 W.R.T. Q2 FY’23

*All figures except sales volume are in INR million

Q3 FY'23 Q2 FY'23

Sales Volume 465,911 517,395

Net Sales 278,492 285,435

Op. EBIT 21,230 20,463

PBT 29,542 26,283

PAT 23,513 20,615

12
Key Financial Ratios (% of Net Sales)

Parameter Q3 FY'23 Q2 FY'23 Change (bps)

Material Cost 75.7 76.5 -80

Employee Cost 4.3 4.0 30

Other Expenses 14.1 14.7 -60

Depreciation 2.6 2.5 10

Other Operating Income 4.3 4.9 -60

Op. EBIT 7.6 7.2 40

Interest Expense 0.1 0.1 0

Non-Operating Income 3.1 2.1 100

PBT 10.6 9.2 140

PAT 8.4 7.2 120

Red color denotes adverse movement.

Green color denotes favorable movement.
13
Financial Analysis of Q3 FY’23 vs. Q2 FY’23
Key reasons for margin movement

Positive Factors
◼ Cost reduction efforts
◼ Favorable foreign exchange variation
◼ Softening of commodity prices
◼ Higher non-operating income

Negative Factors
◼ Higher sales promotion expenses

14
9M FY’23

vs.

9M FY’22

15
Highlights of 9M FY’23 W.R.T. 9M FY’22

*All figures except sales volume are in INR million

9M FY’23 9M FY'22

Sales Volume 1,451,237 1,163,823

Net Sales 816,790 582,841

Op. EBIT 55,613 11,084

PBT 69,043 23,843

PAT 54,256 19,274

16
Key Financial Ratios (% of Net Sales)

Parameter 9M FY’23 9M FY'22 Change (bps)

Material Cost 76.7 79.4 -270

Employee Cost 4.3 5.1 -80

Other Expenses 14.3 15.5 -120

Depreciation 2.5 3.7 -120

Other Operating Income 4.6 5.6 -100

Op. EBIT 6.8 1.9 490

Interest Expense 0.1 0.1 0

Non-Operating Income 1.8 2.3 -50

PBT 8.5 4.1 440

PAT 6.6 3.3 330

Red color denotes adverse movement.

Green color denotes favorable movement.
17
Sales Volumes
Q3 FY’23 9M FY’23
Market
Total Sales

Number Growth % % to Total sales Number Growth % % to Total sales

Domestic 403,929 10.5% 87% 1,256,623 26.4% 87%
Exports 61,982 -4.6% 13% 194,614 14.5% 13%
Total Sales 465,911 8.2% 100% 1,451,237 24.7% 100%

Q3 FY’23 9M FY’23
Segments % to Domestic % to Domestic
Number Growth % Number Growth %
sales sales
Mini 52,952 -4.8% 13% 174,008 10.2% 14%
Domestic Sales

Compact 204,031 16.6% 51% 637,459 34.7% 51%

Mini + Compact 256,983 11.4% 64% 811,467 28.6% 65%
Mid Size 4,592 36.6% 1% 11,518 10.1% 1%
UVs 96,542 22.8% 24% 260,172 21.7% 21%
Vans 26,625 -8.4% 7% 96,135 21.1% 8%
LCV 7,098 -29.7% 2% 26,607 16.6% 2%
Sales to other OEM 12,089 -12.6% 3% 50,724 39.9% 4%
Domestic sales 403,929 10.5% 100% 1,256,623 26.4% 100%

18
Thank You

19