Maruti Suzuki Q3 net down -47.8% yoy at Rs1,042cr on adverse input costs and lower volumes

Maruti Suzuki reported -0.93% yoy tapering in total revenues for the Dec-21 quarter on consolidated basis at Rs23,253cr

January 25, 2022 6:41 IST | India Infoline News Service
Maruti Swift
Maruti Suzuki reported -0.93% yoy tapering in total revenues for the Dec-21 quarter on consolidated basis at Rs23,253cr. On a sequential basis, the revenues were up by 13.15%.

During the December 2021 quarter, the company the sales volumes stood at 430,668 units compared to 495,897 units in the Dec-20 quarter.

This sharp fall in volumes is largely on account of plant shutdown that were forced on the company due to a shortage of microchips and other key electronic components. However, volumes have shown positive traction on sequential basis.

For the Dec-21 quarter, the operating profits were down by -38.11% on a yoy basis. The sharp fall in the operating profits was largely on account of volume pressure and pressure on the front of input costs.

On a yoy basis, the material costs were up as a share of sales. Some of the factors that worked against Maruti were spike commodity inputs, sales impact due to microchip shortage and weak demand.

Operating margins contracted from 6.33% in Dec-20 quarter to 3.95% in the Dec-21 quarter. Operating margins were higher on a sequential basis.

Net Profit after tax (PAT) for the Dec-21 quarter was down -47.82% yoy at Rs1,042cr on the back of pressure on operating profits with added pressure from lower non-operating income. 

PAT margins contracted from 8.51% in the Dec-20 quarter to 4.48% in the Dec-21 quarter. The PAT margins were higher by 211 basis point on a sequential basis.

Financial highlights for Dec-21 compared yoy and sequentially

Maruti Suzuki
Rs in Crore Dec-21 Dec-20 YOY Sep-21 QOQ
Total Income (Rs cr) ₹ 23,253 ₹ 23,471 -0.93% ₹ 20,551 13.15%
EBITDA (Rs cr) ₹ 919 ₹ 1,485 -38.11% ₹ 154 497.92%
Net Profit (Rs cr) ₹ 1,042 ₹ 1,997 -47.82% ₹ 487 113.97%
Diluted EPS (Rs) ₹ 34.49 ₹ 66.10 ₹ 16.12
EBITDA Margin 3.95% 6.33% 0.75%
Net Margins 4.48% 8.51% 2.37%

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