Maruti Suzuki India Limited. Q4 & FY 14 Financial Results 25 th April, 2014

Transcription

1 Maruti Suzuki India Limited Q4 & FY 14 Financial Results 25 th April,

2 Safe Harbour This presentation might contain forward looking statements which involve a number of risks, uncertainties and other factors that could cause the actual results to differ materially from those in the forward looking statements. The Company undertakes no obligation to update these to reflect the events or circumstances thereof. Secondly, these statements should be understood in conjunction with the risks the company faces. 2

3 Contents 1. Q4 FY 14 vs Q3 FY 14 Ratio Comparison & Analysis 2. Q4 FY 14 vs Q4 FY 13* Ratio Comparison & Analysis 3. FY 14 vs FY 13 Ratio Comparison & Analysis 4. Sales Volumes 5. Going Forward *Q4 FY 13 results include financials of Q4 of SPIL for like to like comparison. 3

4 Financial Highlights Q4 FY 14 & Growth over Q3 FY 14 Sales Volume 324,870 Veh % Net Sales 118,181 Mn 11.3 % Op. EBIDTA 12,475 Mn (7.9) % PBT 10,470 Mn 18.2 % PAT 8,001 Mn 17.5 % 4

5 Key Financial Ratios (% of Net Sales) Parameter Q4 FY 14 Q3 FY 14 Change bps Material Cost Employee Cost Other Expenses (20) Other Operating Income (20) EBIDTA (230) Depreciation (30) Other Non-Operating Income PBT PAT

6 Financial Analysis Q4 FY 14 vs Q3 FY 14 Material Cost to Net Sales Higher by 160 bps Excise duty impact (stock compensation to dealers) Increase in commodity cost... partially offset by Lower sales promotion expenses and Cost reduction & localization efforts Higher depreciation due to addition of Manesar-C line and Gurgaon diesel engine plant. 6

7 Q4 FY 14 vs Q4 FY 13* *Q4 FY 13 results include financials of Q4 of SPIL for like to like comparison. 7

8 Financial Highlights Q4 FY 14 & Growth over Q4 FY 13* Sales Volume 324,870 Veh. (5.5) % Net Sales 118,181 Mn (6.9) % Op. EBIDTA 12,475 Mn (18.5) % PBT 10,470 Mn (27.5) % PAT 8,001 Mn (32.9) % *Q4 FY 13 results include financials of Q4 of SPIL for like to like comparison. 8

9 Key Financial Ratios (% of Net Sales) Parameter Q4 FY 14 Q4 FY 13* Change bps Material Cost (40) Employee Cost Other Expenses Other Operating Income EBIDTA (150) Depreciation Other Non-Operating Income PBT (250) PAT (260) *Q4 FY 13 results include financials of Q4 of SPIL for like to like comparison. 9

10 Financial Analysis Q4 FY 14 vs Q4 FY 13* Material Cost to Net Sales Lower by 40 bps Higher sales promotions expenses and Excise duty impact (stock compensation to dealers) offset by Cost reduction & localization efforts and Favorable impact of exchange rate Other Expenses to Net Sales higher by 140 bps Higher power & fuel cost Repairs and Maintenance Higher depreciation due to addition of Manesar-C line and Gurgaon diesel engine plant. *Q4 FY 13 results include financials of Q4 of SPIL for like to like comparison. 10

11 FY 14 vs FY 13 11

12 Financial Highlights FY 14 & Growth over FY 13 Sales Volume 1,155,041 Veh. (1.4) % Net Sales 426,448 Mn 0.1 % Op. EBIDTA 50,959 Mn 20.5 % PBT 36,586 Mn 22.3 % PAT 27,831 Mn 16.3 % 12

13 Key Financial Ratios (% of Net Sales) Parameter FY 14 FY 13 Change bps Material Cost (290) Employee Cost Other Expenses Operating Income EBIDTA Depreciation Non-Operating Income PBT PAT

14 Financial Analysis FY 14 vs FY 13 Material Cost to Net Sales lower by 290 bps Cost reduction & localization efforts and Favorable impact of exchange rate offset Higher sales promotion expenses and Excise duty impact (stock compensation to dealers) Higher depreciation due to addition of Manesar-C line and Gurgaon diesel engine plant. 14

15 Domestic Sales Total Sales Sales Volumes Market FY14 % to Total sales FY13 % to Total sales Growth Domestic 1,053, % 1,051, % 0.3% Exports 101, % 120, % (15.8)% Total Sales 1,155, % 1,171, % (1.4)% Segments FY14 % to Dom. sales FY13 % to Dom. Sales Growth Mini 436, % 429, % 1.5% Compact 252, % 255, % (1.0)% Super Compact 197, % 169, % 16.6% Mid Size 4, % 6, % (39.9)% Executive 1 0.0% % (99.5)% Van 102, % 110, % (7.6)% MUV 61, % 79, % (22.8)% Domestic 1,053, % 1,051, % 0.3% 15

16 Going Forward First time buyers under pressure Strong product portfolio and new product launches Uncertainty on foreign exchange Cost reduction & localization efforts Uncertainty on commodity prices 16

17 Thank You 17