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Financial Analysis: Ratios

Maruti Suzuki is the largest car manufacturer in India, having sold over 10 million vehicles since inception. In 2011-12, Maruti Suzuki sold over 1.13 million vehicles domestically and exported 127,379 units. It employs over 9,000 people and has the largest sales and service network among Indian car companies. Maruti Suzuki's revenue has grown from Rs. 1,45,922 million in 2006-07 to Rs. 3,47,059 million in 2011-12. Financial ratios show increasing profitability, with net profit margin of 4.53% in 2011-12.

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49 views

Financial Analysis: Ratios

Maruti Suzuki is the largest car manufacturer in India, having sold over 10 million vehicles since inception. In 2011-12, Maruti Suzuki sold over 1.13 million vehicles domestically and exported 127,379 units. It employs over 9,000 people and has the largest sales and service network among Indian car companies. Maruti Suzuki's revenue has grown from Rs. 1,45,922 million in 2006-07 to Rs. 3,47,059 million in 2011-12. Financial ratios show increasing profitability, with net profit margin of 4.53% in 2011-12.

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hgosai30
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© Attribution Non-Commercial (BY-NC)
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Financial analysis

Maruti Suzuki is the only Indian Company to have crossed the 10 million sales mark since its inception.
In 2011-12, the company sold over 1.13 million vehicles including 1,27,379 units of exports.
The Company employs over 9000 people (as on 31st March, 2012). Maruti Suzuki's sales and service
network is the largest among car manufacturers in India. The Company has been rated first in customer
satisfaction in the JD Power survey for 12 consecutive years. Besides serving the Indian market, Maruti
Suzuki also exports cars to several countries in Europe, Asia, Latin America, Africa and Oceania
Maruti Suzuki's revenue over the years:
Year

Net Sales

Year

Net Sales

2006-07
2007-08
2008-09

1,45,922
1,78,603
2,03,583

2009-10
2010-11
2011-12

3,01,198
3,58,490
3,47,059

(Rs. in Millions)

Ratios:
(Rs crore)
Mar ' 12

Mar ' 11

Mar ' 10

Mar ' 09

Mar ' 08

Per share ratios


Adjusted EPS (Rs)

56.54

77.21

83.15

42.81

55.94

Adjusted cash EPS (Rs)

95.94

112.29

111.70

67.26

75.61

Reported EPS (Rs)

56.60

79.21

86.45

42.18

59.91

Reported cash EPS (Rs)

96.00

114.30

115.00

66.64

79.57

Dividend per share

7.50

7.50

6.00

3.50

5.00

99.15

115.72

129.38

65.89

88.31

Book value (excl rev res) per share EPS (Rs)

525.68

479.99

409.65

323.45

291.28

Book value (incl rev res) per share EPS (Rs)

525.68

479.99

409.65

323.45

291.28

1,230.77

1,265.50

1,014.77

717.50

625.34

520.68

474.32

403.82

318.45

286.28

Operating margin (%)

8.05

9.14

12.74

9.18

14.12

Gross profit margin (%)

4.85

6.37

9.93

5.77

10.97

Net profit margin (%)

4.53

6.13

8.34

5.72

9.34

Adjusted cash margin (%)

7.69

8.69

10.78

9.13

11.79

Adjusted return on net worth (%)

10.75

16.08

20.29

13.23

19.20

Reported return on net worth (%)

10.76

16.50

21.10

13.04

20.56

Return on long term funds (%)

14.48

21.74

28.80

17.48

27.35

Operating profit per share (Rs)

Net operating income per share EPS (Rs)


Free reserves per share EPS (Rs)
Profitability ratios

Leverage ratios
Long term debt / Equity

0.02

0.03

0.06

0.05

0.07

0.02

0.06

0.07

0.10

93.37

97.81

93.51

93.04

90.33

2.34

3.13

2.82

2.38

2.48

Current ratio

1.19

1.49

1.02

1.53

1.03

Current ratio (inc. st loans)

1.02

1.47

0.91

1.51

0.91

Quick ratio

0.88

1.14

0.67

1.26

0.66

Total debt/equity
Owners fund as % of total source
Fixed assets turnover ratio
Liquidity ratios

Inventory turnover ratio

22.80

33.33

30.47

30.46

22.93

15.39

11.00

8.09

9.70

9.78

9.07

7.62

6.08

6.14

7.36

Earning retention ratio

84.59

88.72

91.59

90.44

89.53

Cash earnings retention ratio

90.92

92.24

93.74

93.92

92.25

Adjusted cash flow time total debt

0.38

0.09

0.25

0.35

0.41

Financial charges coverage ratio

60.47

167.58

130.02

48.06

50.46

Fin. charges cov.ratio (post tax)

51.25

136.33

100.18

38.75

39.57

79.67

78.99

77.21

77.10

77.25

2.80

2.62

3.12

3.56

3.10

Payout ratios
Dividend payout ratio (net profit)
Dividend payout ratio (cash profit)

Coverage ratios

Component ratios
Material cost component (% earnings)
Selling cost Component
Exports as percent of total sales

10.38

9.56

15.49

7.24

4.10

Import comp. in raw mat. consumed

10.60

11.99

12.89

11.70

10.84

0.66

0.65

0.76

0.59

0.74

Long term assets / total Assets


Bonus component in equity capital (%)

Share price :1508.00

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