Q3 2025 Maruti Suzuki India Ltd Earnings Call Transcript
Key Points
- Maruti Suzuki India Ltd (BOM:532500) unveiled its first electric SUV, the e Vitara, which offers a range of over 500 kilometers on a single charge and includes advanced safety features.
- The company achieved its highest-ever net sales of INR368 billion in Q3 FY25, marking a significant increase from the previous year.
- Maruti Suzuki India Ltd (BOM:532500) exported 99,220 vehicles in Q3, the highest ever for any quarter, with a 38% growth in export sales.
- The all-new Dzire model has been well-received, with a significant increase in bookings for its top variants, indicating strong consumer interest.
- The company maintained a dominant 49% share of India's total passenger vehicle exports in Q3 FY25, showcasing its strong export performance.
- Operating profit margin decreased to 10% in Q3 from 10.3% in Q2, affected by higher sales promotion expenses and adverse foreign exchange movements.
- The demand scenario remains subdued and weak, with only a 3.5% growth in retail sales expected to continue into the fourth quarter.
- Discount levels remained high despite low inventory levels, indicating potential challenges in pricing strategy.
- The profitability of electric vehicles (EVs) is not expected to match that of internal combustion engine (ICE) vehicles for a long time, due to higher costs associated with EVs.
- The entry-level hatchback segment experienced a decline, with only the premium hatch segment showing some growth, highlighting challenges in the lower market segments.
Ladies and gentlemen, good day, and welcome to Maruti Suzuki Q3 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Pranav from Maruti Suzuki. Thank you, and over to you, sir.
Thank you, Sejal. Ladies and gentlemen, good afternoon once again. Welcome you all to the Q3 FY25 earnings call. May I introduce you to the management team from Maruti Suzuki.
Today, we have with us our Chief Investor Relations Officer, Mr. Rahul Bharti; and CFO, Mr. Arnab Roy. Before we begin, may I remind you of the Safe Harbor. We may be making some forward-looking statements that have to be understood in conjunction with the uncertainty and the risks that the company faces.
I also would like to inform you that the call is being recorded. And the audio recording and the transcript will be available at our website. Please note that in case of any inadvertent error during the
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