Maruti Suzuki Q2 Results Preview: Net profit to rise 50%, revenue growth seen at 25% on volumes, rich product mix

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Maruti Suzuki Q2 Results Preview: Maruti Suzuki is all set to announce its July-September quarter results for fiscal 2023-24 (Q2FY24) on Friday, October 27. India's largest car manufacturer is expected to report robust earnings on the back of healthy volumes, a rich product mix, and softer commodity costs, according to estimates by analysts and leading brokerage houses. Maruti Suzuki highlighted in its FY23 annual report that it expects a 6 per cent compound annual growth rate (CAGR) until FY31 for the Indian passenger vehicle (PV) industry.

In FY24, the company expects to grow at a slightly higher rate than the market. Additionally, management expects demand from the export volumes to grow at 750,000-800,000 units by FY31 - implying a 14-15 per cent CAGR, compared to FY23. This implies a 7-7.5 per cent CAGR in total volumes for the firm until FY23.

Also Read: Maruti Suzuki Q1 Results: Net profit jumps 145% to ₹2,485 crore; revenue rises 22% YoY -Maruti Suzuki sold a total of 1,81,343 units in September 2023, a 3.9 per cent on-year rise from 1,76,306 units sold in the same period last year. The company's domestic sales stood at 1,58,832 units in September, a 2.5 per cent rise from 1,54,903 units in the corresponding period last year. -Maruti Suzuki Alto, Maruti Suzuki S-Presso, and Maruti Suzuki Swift were among the top-selling models in the mini and compact-segment cars in September 2023.

Both Alto and S-Presso logged total sales of 10,351 units in September 2023, down from 29,574 units sold in the same period last year. -The company's vehicle exports stood at 22,511 units in September 2023 compared to 21,403 units exported in September 2022. During the April-September 2023 period, Maruti Suzuki sold 10,50,085 units.