Corroborating the trend of a pick-up in the auto sector witnessed recently, Maruti Suzuki India posted strong sales for the third consecutive month, with compact sales driving a bulk of the growth.
Corroborating the trend of a pick-up in the auto sector witnessed recently, Maruti Suzuki India posted strong sales for the third consecutive month, with compact sales driving a bulk of the growth.
In August, Maruti sold 1,10,776 units of passenger vehicles, up 26.9 percent compared to 87,323 units in the same month last year.
This was largely thanks to a robust showing in the company's domestic business, with sales increasing 29.3 percent to 98,304 units while exports were up a more modest 10.5 percent to 12,472.
As has been the trend, the company's compact segment of cars was behind the superior showing with sales of Swift, Ritz, Celerio and DZire jumping 53.2 percent to 46,759 units.
The mini-car segment comprising of the Alto and the Wagon R grew a conservative 8.3 percent to 32,019.
Sales of the about-to-be-phased-out midsize SX4, for which Maruti is bringing in a replacement in the Ciaz, continued to be disappointing, with the vehicle selling only 50 units.
While in the utility vehicle segment – of the Ertiga, Grand Vitara and Gypsy – sales were up 20.3 percent to 4,563.
The country's top automaker, Maruti's market share has risen from a low of 38 percent logged in 2012 has gradually edged back to about 50 percent recently.
In an interview with the Times of India recently, chairman RC Bhargava said the carmaker was aiming to sell about 3 million vehicles and to achieve that, it would double the range of its models from about 12 currently to 25.
Apart from the midsize Ciaz, Maruti is looking to launch a mini SUV to compete with the hotselling Renault Duster and Ford Ecosport.
Maruti shares were up about 3.25 percent in afternoon Mumbai trading today.
Maruti Suzuki stock price
On September 01, 2014, at 14:13 hrs Maruti Suzuki India was quoting at Rs 2906.00, up Rs 121.65, or 4.37 percent. The 52-week high of the share was Rs 2916.95 and the 52-week low was Rs 1217.00.
The company's trailing 12-month (TTM) EPS was at Rs 96.45 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 30.13. The latest book value of the company is Rs 694.45 per share. At current value, the price-to-book value of the company is 4.18.
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