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With semiconductor availability improving and festivities falling in August-September, Maruti Suzuki India (MSIL) expects to report a more than 20 per cent jump in revenue in the second quarter ended September 30.
According to analysts, the company is expected to report a consolidated revenue of around Rs 37,000 crore during the quarter, as compared with Rs 29,942 crore in the corresponding period last year.
The rise in revenue can also be attributed to new launches such as the Invicto in the high-price category and models like the Jimny, which was launched in June.
EBIDTA is expected to jump around 46 per cent to around Rs 4,000 crore in the July-September quarter, as against Rs 2,769 crore in the corresponding period last fiscal.
Also read: Maruti Suzuki Q1 FY24 profit more than doubles to ₹2,525 crore
Sales in the current festive period have crossed one lakh units during the Navratri period.
During the July-September quarter, the company sold 4,59,052 units, around 8 per cent YoY growth, as compared with 4,25,396 units in the same period last year.
Also read: Total passenger vehicle sales see highest-ever growth at 3,59,228 units in Aug: SIAM
Chip shortage eases
According a recent Crisil Ratings report, the global shortage of semiconductors or chips, which had hobbled automobile production and sales in India through fiscals 2021 and 2022 and a large part of fiscal 2023, is easing, with supply-chain glitches being addressed and improved predictive demand forecasts enabling better production schedules.
“The chip shortage faced by Indian passenger vehicle makers is easing, with current availability at 85-90 per cent of total requirement. The production loss on account of the chip shortage, which had halved to around three-lakh passenger vehicles (PVs) on-year in fiscal 2023, is estimated to have further declined to under two-lakh PVs by the end of September 2023,” Anuj Sethi, Senior Director, Crisil Ratings, said.
Shares of MSIL closed at Rs 10,426.45 on the BSE on Thursday, down 1.60 per cent from the previous close.
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