ABSTRACT

Working capital management is concerned with the problems arise in

attempting to manage the current assets, the current liabilities and the inter

relationship that exist between them. The term current assets refers to those assets

which in ordinary course of business can be, or, will be, turned in to cash within

one year without undergoing a diminution in value and without disrupting the

operation of the firm. The major current assets are cash, marketable securities,

account receivable and inventory. Current liabilities ware those liabilities which

intended at their inception to be paid in ordinary course of business, within a year,

out of the current assets or earnings of the concern. The basic current liabilities are

account payable, bill payable, bank over-draft, and outstanding expenses. The goal

of working capital management is to manage the firm’s current assets and current

liabilities in such way that the satisfactory level of working capital is mentioned.

The current should be large enough to cover its current liabilities in order to ensure

a reasonable margin of the safety.

 Table of Contents

Chapter Contents Pg. No.

1 Introduction And Review of Literature

2 Industry Profile And Company profile

3 Data Analysis and Interpretation

4 Findings, Suggestions & Conclusion

Bibliography

Appendices
Appendix A-Financial Statements(For Finance Students)
 LIST OF FIGURES and TABLES (Separately)

S.no. Content Page No.

01 Tractor Drawn Equipments

Data Analysis
02

03 Futures and options are exchange traded derivatives

04 Exchange trade derivatives are available for the maximum of 3 months

05 These derivatives fluctuates with the fluctuations in the indices

 CHAPTER – 1

INTRODUCTION
 INTRODUCTION

Working capital is a fundamental concept in finance, representing a

company's ability to meet its short-term financial obligations. It's the difference
between a company's current assets (like cash, inventory, and accounts receivable)
and its current liabilities (such as accounts payable and short-term debt). In simpler
terms, working capital is the financial cushion that allows a business to cover day-
to-day operational expenses.

The dynamic nature of working capital demands astute

management, balancing the need for ample resources with the imperative of
avoiding excess idle capital. Current assets, including cash, inventory, and
accounts receivable, must harmonize with short-term liabilities like payables and
accrued expenses. Striking this equilibrium ensures a company's ability to seize
opportunities, navigate economic fluctuations, and mitigate financial risks.

Positive working capital indicates that a company has enough short-

term assets to cover its short-term liabilities, ensuring smooth operations. On the
other hand, negative working capital might signal potential liquidity issues.

Efficient management of working capital is crucial for a company's

sustainability. Businesses strive to strike a balance – having enough inventory to
meet demand without tying up excessive capital. Effective management involves
optimizing cash flow, negotiating favorable credit terms with suppliers, and
minimizing the time it takes to convert inventory into sales.

1
MEANING OF WORKING CAPITAL:

Decisions relating to working capital and short term financing are referred to
as working capital management. These involve managing the relationship between

a firm's short-term assets and its short-term liabilities.

The goal of working capital management is to ensure that the firm is able to
continue its operations and that it has sufficient cash flow to satisfy both maturing
short-term debt and upcoming operational expenses.

Efficient management of working capital is one of the pre-conditions for the

success of an enterprise. Efficient management of working capital means
management of various components of working capital in such a way that an
adequate amount of working capital is maintained for smooth running of a firm and
for fulfillment of twin objectives of liquidity and profitability. While inadequate
amount of working capital impairs the firm’s liquidity. Holding of excess working
capital results in the reduction of profitability. But the proper estimation of
working capital actually required, is a difficult task for the management because
the amount of working capital varies across firms over the periods depending upon
the nature of business, production cycle, credit policy, availability of raw material,
etc.

DEFINITION OF WORKING CAPITAL:

1. L.J. Guthmann defined working capital as “the portion of a firm’s current

assets which are financed from long–term funds.”

2
 2. According to Guttmann & Dougall-“Excess of current assets over current

liabilities”.

OBJECTIVES

Study of the working capital management is important because unless the working
capital is managed effectively, monitored efficiently planed properly and reviewed
periodically at regular intervals to remove bottlenecks if any the company cannot
earn profits and increase its turnover. With this primary objective of the study, the
following further objectives are framed for a depth analysis.

1. To study the working capital management of Maruti Suzuki India Limited

2. To study the optimum level of current assets and current liabilities of the

company.

3. To study the liquidity position through various working capital related ratios.

4. To study the working capital components such as receivables accounts, cash

management, Inventory position.

5. To study the way and means of working capital finance of the Maruti Suzuki

India Limited

6. To estimate the working capital requirement of Maruti Suzuki India Limited

7. To study the operating and cash cycle of the company.

3
 NEED OF THE STUDY
The need for working capital gross or current assets cannot be over emphasized.

As already observed, Achieve this, it is necessary to generate sufficient profits can

be earned will naturally depend upon the magnitude of the sales among other

things but sales cannot convert into cash. There is a need for working capital in the

form of current assets to deal with the problem arising out of lack of immediate

realization of cash against goods sold. Therefore sufficient working capital is

necessary to sustain sales activity. Technically this is refers to operating or cash

cycle. If the company has certain amount of cash, it will be required for purchasing

the raw material may be available on credit basis. Then the company has to spend

some amount for labor and factory overhead to convert the raw material in work in

progress, and ultimately finished goods. These finished goods convert in to sales

on credit basis in the form of sundry debtors. Sundry debtors are converting into

cash after expiry of credit period. Thus some amount of cash is blocked in raw

materials, WIP, finished goods, and sundry debtors and day to day cash

requirements. However some part of current assets may be financed by the current

liabilities also. The amount required to be invested in this current assets is always

higher than the funds available from current liabilities. This is the precise reason

why the needs for working capital arise

4
 TYPES OF WORKING CAPITAL

WORKING CAPITAL

BASIS OF BASIS OF TIME

CONCEPT

Gross Net Permanent Temporary

Working Working / Fixed WC / Variable
Capital Capital WC

1. Gross working capital-

Gross working capital refers to the firm’s investment I current assets.

Current assets are the assets which can be convert in to cash within year includes

cash, short term securities, debtors, bills receivable and inventory.

2. Net working capital-

Excess of current assets over current liabilities are called the net working

capital or net current assets. Net working capital can be positive or negative

efficient working capital management requires that firms should operate with some

amount of

(Net working capital = Current Assets – Current Liabilities)

5
Further, following formula can be used to determine the conversion periods.

6
(A) Permanent working capital: This type of working capital is known as Fixed

Working Capital. Permanent working capital means the part of working capital

which is permanently locked up in the current assets to carry out the business

smoothly. The minimum amount of current assets which is required to conduct the

business smoothly during the year is called permanent working capital.

1. Regular Working capital: Minimum amount of working capital required to

keep the primary circulation. Some amount of cash is necessary for the payment of

wages, salaries etc.

2. Reserve Margin Working capital: Additional working capital may also be re-

quired for contingencies that may arise any time. The reserve working capital is the

excess of capital over the needs of the regular working capital is kept aside as re-

serve for contingencies, such as strike, business depression etc

(B) Variable or Temporary Working Capital: The term variable working capi-

tal refers that the level of working capital is temporary and fluctuating. Variable

working capital may change from one assets to another and changes with the in-

crease or decrease in the volume of business. The variable working capital may

also be subdivided into following two sub-group

7
1. Seasonal Variable Working capital: Seasonal working capital is the addi-

tional amount which is required during the active business seasons of the year.

Raw materials like raw-cotton or jute or sugarcane are purchased in particular sea-

son. It is particularly suited to a business of a seasonal nature. In short, seasonal

working capital is required to meet the seasonal liquidity of the business.

2. Special variable working capital: Additional working capital may also be

needed to provide additional current assets to meet the unexpected events or spe-

cial operations such as extensive marketing campaigns or carrying of special job

etc.

8
 SCOPE & LIMITATIONS OF THE STUDY

Scope of study-

The study of working capital is based on tools like trend Analysis, Ratio Analysis,

working capital leverage, operating cycle etc. Further the study is based on last 5

years Annual Reports of Company. And even factors like competitor’s analysis,

industry analysis were not considered while preparing this project.

Limitations of the study-

Following are the limitations of the study being conducting:

1) Limited data:-

This project has to be done on the basis of the annual reports; it just constitutes one

part of data collection i.e. secondary. There are limitations for primary data

collection because of confidentiality.

2) Limited period:-

This project is based on five year annual reports. Conclusions and

recommendations are based on such limited data. The trend of last five year may or

may not reflect the real working capital position of the company

9
3) Limited area:-

Also it is difficult to collect the data regarding the competitors and their financial

information. Industry figures were also difficult to.

RESEARCH METHODLGY

Research methodology is a way to systematically solve the research problem. It

may be understood as a science of studying now research is done systematically. In
that various steps, those are generally adopted by a researcher in studying his
problem along with the logic behind them. It is important for research to know not
only the research method but also know methodology. ”The procedures by which
researcher go about their work of describing, explaining and predicting
phenomenon are called methodology.”

Methods comprise the procedures used for generating, collecting and evaluating
data. All this means that it is necessary for the researcher to design his
methodology for his problem as the same may differ from problem to problem.

Data collection is important step in any project and success of any project will be

largely depend upon now much accurate you will be able to collect and how much

time, money and effort will be required to collect that necessary data, this is also

important steps. Data collection plays an important role in research work. Without

proper data available for analysis you cannot do the research work accurately.

10
Research is common parlance refers t a search for knowledge. One can also define

research as a scientific and systematic search for pertinent information n a specific

topic.

The word research has been derived from French word Researcher means to

search. FRANCIES RUMMER defines research It is a care inquiry r examination t

discover new information or relationship and expand or verify existing knowledge.

Research is the solution of the problem, whether created already generated. When

research is done, some new outcome, so that the problem (created or generated) to

be solved.

RESEARCH DESIGN:

RESEARCH DESIGN is the conceptual structure within which research is

conducted. It constitutes the blueprint for collection, measurement and analysis of

data. The design used for carrying out this research is descriptive.

SAMPLIG PLAN:

It is very difficult to collect information from every member of speculation. As

time and costs are the major limitation that the researcher faces.

A sample of 100 was taken the sample size of 100 employees were selected o the

11
basis of freedom sampling technique. The individual were selected in the random

manner to form sample and data were collected from them for the research study.

SAMPLE UMT: 100 Employees

AREA OF STUDY: Maruti Suzuki India Limited

DETERMINANTS OF WORKING CAPITAL

The amount of working capital is depends upon a following factors-

1. Nature of business

2. Length of production cycle

3. Size and growth of business

4. Business/ Trade cycle

5. Terms of purchase and sales

6. Profitability

7. Operating efficiency

12
 WORKING CAPITAL TREND ANALYSIS

In working capital analysis the direction at changes over a period of time is of

crucial importance. Working capital is one of the important fields of management.
It is therefore very essential for an analyst to make a study about the trend and
direction of working capital over a period of time. Such analysis enables as to
study the upward and downward trend in current assets and current liabilities and
its effect on the working capital position.

In the words of S.P. Gupta “The term trend is very commonly used in day-today
conversion trend, also called secular or long term need is the basic tendency of
population, sales, income, current assets, and current liabilities to grow or decline
over a period of time.”

According to R.C.galeziem “The trend is defined as smooth irreversible

movement in the series. It can be increasing or decreasing.”

Emphasizing the importance of working capital trends, Man Mohan and Goyal
have pointed out that “analysis of working capital trends provide as base to judge
whether the practice and privilege policy of the management with regard to
working capital is good enough or an important is to be made in managing the
working capital funds.

Further, any one trend by itself is not very informative and therefore comparison
with

Illustrated their ideas in these words, “An upwards trends coupled with downward
trend or sells, accompanied by marked increase in plant investment especially if
the increase in planning investment by fixed interest obligation”

13
 OPERATING CYCLE OF WORKING CAPITAL

The need of working capital arrived because of time gap between production of

goods and their actual realization after sale. This time gap is called Operating

Cycle or Working Capital Cycle . The operating cycle of a company consist of

time period between procurement of inventory and he collection of cash from

receivables. The operating cycle is the length of time between the company's

outlay on raw materials, wages and other expanses and inflow of cash from sales

of goods. Operating cycle is an important concept in management of cash and

management of cash working capital. The operating cycle reveals the time that

elapses between outlays of cash and inflow of cash. Quicker the operating cycle

less amount of investment in working capital is needed and it improves

profitability. The duration of the operating cycle depends on nature of industries

and efficiency in working capital management.

In manufacturing concern ,the working capital cycle/operating cycle starts with

the purchase of raw material and ends with the realization of cash from the sale of

finished products. This cycle involves purchase of raw material and stores, its

conversion through into stocks of finished goods through work-in-progress with

progressive increment of labor and service costs, conversion of finished stock into

14
sales, debtors and receivables and ultimately realization of cash and this cycle

continues again from cash to purchase

DEBTORS

(RECEIVABLES)

CASH FINISHED GOODS

RAW MATERIALS WORK-IN-PROCESS

(WORKING CAPITAL CYCLE/OPERATING CYCLE)

The speed with which the working capital completes one cycle determines the

requirements of working capital-longer the period of the cycle larger is the

requirement of working capital

15
 CHAPTER – 2

COMPANY PROFILE
 COMPANY PROFILE

Maruti Suzuki India Limited is a publicly listed automaker in INDIA. It is a

leading four-wheeler automaker manufacturer in south a Asia. Suzuki Motor
Corporation of Japan holds a majority stake in the company. It was the first
company in India to mass-produce and sell more than a million cars. It is largely
credited for having brought in an automobile revolution to India.

It is the market leader in India and on 17 September 2007, Maruti Udyog was
renamed Maruti Suzuki India Limited. The company headquarter is in Gurgoan,
Haryana. Maruti Suzuki is one of India's leading automobile manufacturers and the
market leader in the car segment, both in terms of volume of vehicles sold and
revenue earned.

Maruti Udyog Limited (MUL) was established in February 1981, though the
actual production commenced in 1983 with the Maruti 800, based on the SUZUKI
Alto kei car, which at the time was the only modern car available in India, it’s only
competitors- the Hindustan Ambassador and premier Padmini were both around 25
years out of date at that point Through 2004, Maruti has produced over 5 Million
vehicles. Maruti are sold in India and various several other countries, depending
upon export orders.

Models similar to Maruti (but not manufactured by Maruti Udyog) are sold by
Suzuki and manufactured in Pakistan and other South Asian countries. The
company annually exports more than 50,000 cars and has an extremely large
domestic market in India selling over 730,000 cars annually. Maruti 800, till 2004,
was the India's largest selling compact car ever since it was launched in 1983.
More than a million units of this car have been sold worldwide so far. Due to the
large number of Maruti 800s sold in the Indian market, the term "Maruti" is
commonly used to refer to this compact car model.

16
Till recently the term "Maruti", in popular Indian culture, was associated to the
Maruti 800 model. Maruti Suzuki was born as a government company, with Suzuki
as a minor partner to make a people's car for middle class India. Over the years,
the product range has widened, ownership has changed hands and the customer has
evolved.

MISSION-To provides maximum value for money to their customers through

continuous improvement of products and services.

VISION - Creating customer delight and shareholders wealth.

Maruti Suzuki India limited, a subsidiary of SMC, Japan, is the leader in passenger
cars and multipurpose vehicle (MPVs) in India, accounting for almost 55% of the
total industry sales.

The company formerly known as Maruti Udyog limited was incorporated as a

joint venture (JV) between government of India and SMC, Japan on 24 th February,
1981.The first car was rolled out from its Gurgaon facility on 14 Dec 1983.Since
then; it has sustained its leadership position in the Indian car market.

We, at Maruti Suzuki, celebrated 26 years of car manufacturing in India 2009-10.

Having achieved manufacturing excellence in India, we are now in the process of
enhancing our R&D capabilities to design and develop cars.

In 2009-10, the company sold 722,144 cars in the domestic market and exported
70,023 cars .Cumulatively, it has produced and sold over seven million cars .

17
The total income of the company for 2009-10 stood at Rs. 214,538 million
(USD4.46 billion@ 1USD=Rs.48). We now aim at selling 750,000 units in the
domestic market and exporting 130,000 units in 2009-10.

Maruti Suzuki has a strong balance sheet with Reserves and Surplus of Rs.92, 004
million & debt equity ratio of 0.07 as on 31st March, 2010.

DOMESTIC SALES AND SERVICE NETWORK

TOTAL SERVICE NETWORK--------------2767

TOTAL SALES NETWORK-------------681

REGIONAL OFFICES--------------------16

AREA OFFICES----------------------09

ZONAL OFFICES------------------04

DELHI CORPORATE OFFICE The company has the largest sales and service
network amongst car manufacture in India .It had 681 sales outlets in 454 cities as
on 31st March, 2009. The car park of the company is in excess of seven million
vehicles and to service this car park ,the company has 2,767 service workshops in
1,314 cities .The service network of Maruti Suzuki includes Dealer workshop,
Maruti Authorized services stations (MASs),Maruti service masters (MSM)and
Maruti service Zones (MSZ).

Besides selling and servicing vehicles, the company provides its customers with
“one stop-shop” experience such as automobile Finance, Automobile insurance,
Maruti Genuine Parts and Accessories, Extended warranty and Maruti Certified
pre-owned car outlets in 181 cities as on 31st March, 2009.

18
EXPORTS

Maruti Suzuki exported the first lot of 500 car to Hungary in September,
1987.Presently, we are exporting to over 100 markets in Europe, Asia, Latin
America, Africa and Oceania.In2008-09, the company launched a new model A-
Star that meets stringent European safety and emission regulation. The company
has exported over 500,000 cars so far.

PORT FACILITIES FOR EXPORT

In 2009-10, in association with Mundra Port SEZ Limited, the company had set up
the company had set up the state-of -the art facilities at Mundra Port ,Gujarat for
Export terminal offers a “Roll On, Roll Off”(RORO) berth ,which speeds up the
loading process and minimizes the chance of damage to cars. The company also
has a Pre-Delivery Inspection (PDI) Centre at Mundra.

In a first of its kind initiative, the company, in partnership with Indian Railways,
has developed double Decker rail wagons for transporting export cars Mundra.

MARUTI AND CRM:-  Maruti created a land-mark in CRM by launching a

website for the customers in the year 1998.

SWOT ANALYSIS OF MARUTI SUZUKI

STRENGHS

 Bigger name in the market

 Trust of People
 Maruti Udyog Ltd. is the market leader for more than two decade.
 Has a great dealership chain in the market.

19
  Better after sales service
 Low maintenance cost of vehicle
WEAKNESSES

 Exports are not that good.

 Lesser diesel models in the market compare to others
 Global image is not that big
OPPORTUNITIES

 Great opportunities to go global with success of Swift and SX4All over

 Introduction of more diesel models. The diesel car segment is growing.
 Opportunity to grow bigger by entering into bigger car markets
 Already a market leader so great opportunity to be the king of market in ev-
ery stage of industry
THREATS

 Foreign companies entering market; so a bigger threat from MNCs.

 To the market share, as many big names are coming in the industry
 There is hardly any diesel models
 Rs. 1 lakh – Rs. 1.5 lakh car

20
 OVERVIEW
India’s car market has emerged as one of the fastest growing in the world. The
number of cars sold domestically is projected to double by 2010, and domestic pro-
duction is skyrocketing as foreign makers are setting up their own production
plants in India. The government’s 10-year plan aims to create a $145 billion auto
industry by 2016.
According to McKinsey, the auto sector’s drive to lower costs will push outsourc-
ing. The auto sector could be worth $375 billion by 2015, up from $65 billion in
2002. McKinsey thinks India could capture $25 billion of this amount. Out of 400
Indian suppliers, 80 percent have the ISO 9000 certificate—the international stan-
dard for quality management.
The production of automobiles in India is largely aimed at local consumers.
Several Indian
Manufacturers also export a diverse variety of auto components. Tiku (2008)
predicts a sale of 4.2 million four wheeler automobiles in India by 2015. In-
dian passenger vehicle exports are also expected to rise from 170,000 in 2006
to 500,000 in 2010. Indian automobile companies.

21
 MARUTI SUZUKI PRODUCT

The company offers a portfolio of 13 brands, ranging from the people’s car Maruti
800 to the stylish hatch – back, Swift, SX4 sedan and luxury sport utility vehicle
(SUV), Grand Vitara. More than half the cars sold in India wear a Maruti Suzuki
badge. As per the classification by the society of Indian Automobile manufacturers
(SIAM), Maruti Suzuki models are categorized under the following heads:

A1 Segment (up to 3400 mm) : Maruti 800

A2 Segment (3400 mm to 4000 mm): Alto, Estilo, WagonR, A-star, Ritz, Swift

A3 Segment (4000mm to 4500 mm): Dzire & SX4

Multy utility Vehicle (MUA) Segment: Gypsy & Grand Vitara

Multi Purpose vehicle (MPV) Segment: Omni & Versa

(1)Maruti 800 -change your life: - Maruti 800 has gone beyond just being a car

; It has transformed the lives of countless people, by bringing

the joy of motoring to million across the length and breadth of the country.

(2)Alto-Let’s go:- Alto is a great combination of economy, practicality & styling,

It

exemplifies the benchmark in build ,quality & reliability.

22
These a attributes make it the largest selling car in Indian automobile market .This
is testified by the 24 hr endurance record set by covering 3,082 kms in 24 hrs at an
average speed of 128 kmph.

(3)Dzire-The heart car: - A car that has everything you ever desired; striking

looks, l luxurious interiors & enough power to capture

your heart just slide in the DZire & take it for a spin, it’s sure to steal many a heart,
beginning with yours.

(4) SX4- Men are back:- Revolutionary European design ,world class “drive by

wire” technology, most spacious in its class, steering

mounted audio controls, maximum ground clearance in its class ,high on safety
with dual airbags, Anti-lock Brake system (ABS) & Electronic rack force
Distribution (EBD) feature.

(5) GRAND VITARA*-2.4-Reloaded:- Distinctively styled, the third generation

Grand Vitara takes three decades of Suzuki SUV heritage

to the next level. The Vitara model first hit the road in Japan in 1988 as a 3-door
part –time four wheel drive (4WD). In its second avatar, the Vitara came armed
with a stylish design, superior engineering and a new name

23
the Grand Vitara. Launched in India on 1st July, 2009

(6) VERSA –The joy of travelling together:- Experience the joy of travelling

together. Equipped with twin –ACs, large sliding doors and

flexible seating, the Versa encourages family and friend to enjoy long drives and
getaways together. In spite of being so spacious, its design allows for easy
maneuverability in the city.

(7) SWIFT –You are the fuel: A new kind of computer car ,one that’s based on a

fresh approach to design and development, Swift delivers

the kind of driver and passenger experience that places it in a class of its own and
has true worldwide appeal.

(8) OMNI –Ab Kamyabi se hai sirf Omni bhar ka faasla

Omni is truly India’s original MPA .Today it as available in five variants-5 seater,

8 seater, Cargo, Ambulance & liquefied petroleum Gas

(LPG).It meets diverse needs across different user segments & can double up both
as a people carrier and a goods carrier .it is easy on the pocket, yet tough on job.

24
(9) WAGONR-For the smarter race:- Drive with complete peace of mind .The

world class safety features of the WagonR keeps you safe

and secure, always. Wearing new vibrant colors, the new WagonR is full of
freshness and energy to keep you charged up and always ready to go.

(10) GYPSY KING –There is a Gypsy in everyone:- With superb

maneuverability, maneuverability, smooth handling and

raw energy packed in to a sleek yet rugged frame, the Gypsy King is the real
adventure MUV ,whether ploughing through the dirk tracks, climbing formidable
terrain or making way through the city traffic .Maruti Suzuki is proud to support
the operations of our country’s defense services with the tailor made Gypsy
King .Gypsy has proved its mettle during defense operation in the Himalayas and
Thar desert.

(11)ESTILO*-Take a fresh view of life:- The all new ESTILO is a new landmark

in terms of design and technology, with its all new

aerodynamic design , Estilo sets the benchmark and makes each drive a fresh new
experience .Complementing its stylish looks are new

25
classy and elegant interiors that redefine comfort .What’s more ,the all new Estilo
with its advance K-series engine gives you incredible power each time you turn on
the ignition.*Launched in August,2009

(12) A-STAR- Stop @ Nothing:- Designed to perfection ,driven only to

succeed ,A-Star has taken over the world. Made in India to meet European

standards, the car symbolizes the beginning of a revolution

with its unique aerodynamic stylish ,Powered by the latest state –of-art ,light
weight K-series petrol engine, it has the best in class pick-up and segment beating
mileage of 19.59 kmpl. It is expected to many European and Non-European
countries under the brand name of Suzuki alto and Suzuki Celerio respectively. As
tested by Automotive Research Association of India (ARAI),Pune ,India’s premier
automotive research agency.

(13) RITZ*-live the moment:- The Ritz combines modern European design, the

sportiness of the swift, the latest in engine technology

and Suzuki’s globally acclaimed expertise in compact cars, Ritz is an exceptional
blend of modern design & practicality .

26
The interior of the car are smartly styled providing a very comfortable space to all
the people in the cabin .The K12M petrol engine and 1.3 liter DDiS diesel engine
powering the Ritz are supremely refined & silent with best in class fuel
efficiency.*launched on 15th May,2009.

Product Line Products

A1------- 800

A2------- Alto, Zen, WagonR, Swift, A-star

A3------- D ZiRE, Sx4

SUV---- Vitara, Gypsy

C - ----Class Omani, Versa

27
 AWARDS

Indian award

No. 1 in Initial Quality Study - JD Power

Total Customer Satisfaction - TNS Study
Car of the Year - BS Motoring
Car of the Year - CNBC Autocar
Best Value for Money Car - CNBC Autocar
Best Design and Styling - CNBC Autocar
Viewer's Choice - CNBC Autocar
Small Car of the Year - NDTV Profit
Design Car of the Year - BBC Top Gear
Car of the Year – Overdrive
Number one premium compact car in - JD POWER INDIA APEAL STUDY
2007
International Awards

Japan:

 RJC Car of the Year - Automotive Researchers' & Journalists' Conference

 2005-2006 Car of the Year Japan "Most Fun" - COTY
 Goof Design Award - Japan Industrial Design Promotion Organization
 Car view of the Year 2005-2006 - Car view

28

Iceland:
  Car of the Year 2006 - BIBD the Association of Automotive Journalists

Ireland:

 Samper it Irish Car of the Year 2006 - Irish Motoring Writers Association

New Zealand:

 Fairfax AMI Small Car of the Year - AUTOCAR

 National Business Review Small Car of the Year - The National Business
Review

Australia:

 2005 Cars guide Car of the Year - Cars guide

United Kingdom:

 2005 Car of the Year - CAR (Automobile Magazine)

Malaysia:

 NST MasterCard Car of the Year 2005 "Small Car" - New Strait Times

29
China:

 2005 CTV COTY "Economical Car" - CCTV

 Motor Show COTY "Hatchback" - 2005 Shanghai International Motor

Show
 Most Popular Hatchback Car - 4th Changchun Motor Show
 2005 Shenzhen Market Car Ranking "Best Design" - Shenzhen Daily
 2005 Chengdu Market Car Ranking "Best Design" - Chengdu Economic
Daily

30