For the fourth quarter that ended March 2023, Maruti Suzuki’s standalone net profit increased 43% year on year (YoY) to Rs 2,624 crore, while revenue from operations increased 20% YoY to Rs 32,048 crore. These were Rs 1,839 crore and Rs 26,740 crore, respectively, at the same time last year.

In a meeting, the board of directors examined and proposed a final dividend of 1800% amounting to Rs. 2,718.7 crores, or Rs. 90 per equity share with a nominal value of Rs. 5 per share, for the fiscal year FY23. The dividend is expected to be paid on September 6, 2023. The dividend is subject to shareholder approval. Last year, the company distributed a 1200% dividend of Rs 60 per share.

Furthermore, the board has given preliminary authorisation to produce up to 1 million automobiles annually. In Manesar and Gurugram, the total current capacity is roughly 13 lakh units. The expenditure necessary for the anticipated capacity augmentation would be confirmed in due course, while the phases of capacity building would be defined.

The company’s operational profit increased 47% yearly due to increasing sales volume, stronger market realisation, and beneficial currency movement.

A total of 514,927 Maruti vehicles were sold during the quarter, of which 450,208 units were sold in the domestic market, and 64,718 vehicles were exported. The total number of units sold increased by 5.3% from last year, and those sold domestically rose by 7.1%. Meanwhile, exports fell 5.45% from 68,454 units in Q4FY22.

Despite a lack of electronic components, the company’s annual sales surpassed Rs 1 lakh crore for the fiscal year ended March. The year’s net profit more than quadrupled to Rs 8,049 crore, up from Rs 3,766 crore in FY22. The market reacted well to the company’s new models and product enhancements, particularly in the utility vehicle area.

Maruti shares traded 0.19% higher at Rs 8,485 on the NSE following the publication of the results. So far this year, the index heavyweight has provided flat returns. The company’s market capitalisation exceeded 2.57 lakh crore.