New Delhi: Maruti Suzuki India Limited (MSIL) has cemented its dominance in the Indian automobile industry with a stellar performance in the last financial year (FY24). The company shattered records across key metrics, achieving its highest-ever annual sales volume, net profit, exports, and net sales.Unmatched sales: 2 million units soldMSILs most significant feat is undoubtedly surpassing the 2 million sales mark for the first time. This translates to a remarkable 8.6% growth compared to FY23. The companys domestic sales also witnessed a strong upsurge, reaching 1,852,256 units. Additionally, MSIL maintained its position as Indias leading passenger vehicle exporter for the third consecutive year, with exports reaching 283,067 units. This robust export performance solidifies MSILs contribution to the Indian automobile industry, currently accounting for nearly 40% of the nations total vehicle exports.Highest-ever net incomeMSILs financial performance mirrored its sales success. The company reported its highest-ever net profit of Rs 13,209.4 crore in FY24, reflecting a significant 64% year-on-year jump. This impressive growth can be attributed to factors such as improved capacity utilization, cost reduction efforts, and a strategic focus on high-demand utility vehicles.Record dividend payoutMSILs Board of Directors further sweetened the deal for investors by proposing a record-breaking dividend of Rs 125 per share for FY24. This represents a substantial increase from the previous years Rs 90 per share dividend, demonstrating the companys commitment to rewarding its shareholders for their continued trust.A milestone year for Maruti Suzuki India LtdFY24 has been a landmark year for MSIL. Not only did the company achieve record-breaking sales and profitability, but it also crossed the significant milestone of producing over 3 crore car units in India. This remarkable feat underscores MSILs longstanding presence and leadership in the Indian automotive market.
