The country’s largest car manufacturing company Maruti Suzuki India Limited has released its financial year 2021-2022 results today. The Board of Directors of the company has approved the financial results as on 31st March, 2022. Shortage of electronic components such as chips, semiconductors resulted in less production of 270,000 vehicles in FY21-22. Due to this the company could not fulfill the bookings of 268,000 customers. Not only this, production was also affected due to the second wave of COVID-19 during the first quarter.
Highlights of Quarter 4 (January-March), FY 2021-22
, The company sold a total of 488,830 vehicles during Quarter 4 (January-March), a decline of 0.7% as compared to the corresponding period last year. Sales in the domestic market for the quarter stood at 420,376 units, down 8% as compared to Q4 FY21. The same, in terms of exports, the company sold 68,454 units, which is also the highest ever sales in any quarter.
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, During the quarter, the company recorded net sales of Rs.255,140 million (approximately Rs.25.52 thousand crore), an increase of 11.1% over the same period last year. This year saw a steady rise in the prices of steel, aluminum and precious metals. Due to this the company was also forced to increase the prices of its vehicles. The company continued to work on cost reduction efforts to minimize the impact on customers.
, The company’s operating profit stood at Rs 17,796 million (Rs 1.78 thousand crore) during the quarter. This is 42.4% higher than Q4FY21. Net Profit for the quarter stood at Rs 18,389 Million (approximately Rs 1.84 thousand crore), a growth of 57.7% over the corresponding period of last year.
Highlights of FY 2021-22 (April-March)
, The company sold a total of 1,652,653 vehicles during the financial year 2021-22, an increase of 13.4% over the previous year. During this, 1,414,277 vehicles were sold in the domestic market, which is 3.9% more than the FY 2020-21. The company exported a record 238,376 units this year. In the last financial year, it had exported only 96,139 units. Exports were 62% higher for the company in any financial year.
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, During the financial year 2021-22, the company recorded sales of Rs 837,981 million (about Rs 83.80 thousand crore). In the financial year 2020-21, the company had registered sales of Rs 665,621 million (about Rs 66.57 thousand crore). Net profit for the period declined by 11% to Rs 37,663 million (approximately Rs.