IT IS NOT easy to dominate an industry and yet be agile enough to capitalise on new trends in customer demand. Maruti Suzuki India Ltd (MSIL), the country’s largest car manufacturer, has managed to do just that, pouncing on new opportunities while ramping up its distribution network.
The carmaker’s efforts have borne fruit, as evidenced by Maruti Suzuki’s jump in the BT500 ranking of India’s most valuable companies by market capitalisation. In the 2024 list, the company has risen four spots to No. 14 from No. 18 in 2023. Between October 2023 and September 2024, the study period for the annual BT500 list, the company’s market capitalisation grew 32.1% year-on-year (YoY) to ₹3.63 lakh crore. Its total income rose about 21% YoY in 2023-24 to ₹1.45 lakh crore, while profit after tax jumped 62% YoY to ₹13,488 crore.
Maruti has managed to hold on to its leadership position by jumping on the SUV (sports utility vehicle) bandwagon and increasing its offerings across powertrains as it seeks to consolidate its leadership position.
A STRONG PORTFOLIO
In FY24, Maruti Suzuki sold 2.14 million units, with the WagonR recording the highest sales at 200,177 units
At present, SUVs account for more than 27% of Maruti Suzuki’s sales, sedans make up 10% and hatchbacks contribute 31%
The company plans to increase production capacity to 4 million vehicles by 2030
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
"Inaction is worse than mistakes"
What was the problem you were grappling with?
TEEING OFF WITH TITANS
BUSINESS TODAY GOLF RESUMES ITS STORIED JOURNEY WITH THE 2024-25 SEASON OPENER IN DELHI-NCR. THERE ARE SIX MORE CITIES TO COME
AI FOOT FORWARD
THE WHO'S WHO OF THE AI WORLD GATHERED AT THE TAJ MAHAL PALACE IN MUMBAI TO DELIBERATE THE TRANSFORMATIVE IMPACT OF AI ON INNOVATION, INDUSTRIES, AND EVERYDAY LIFE.
Decolonising the Walls
ART START-UP MAAZI MERCHANT IS ON A MISSION TO BRING INDIA'S FORGOTTEN ART BACK HOME
"I'm bringing Kotak under one narrative, one strategy, one umbrella”
Ashok Vaswani is a global banker who spent most of his career overseas at institutions like Citi Group and Barclays, among others.
CHOOSING THE CHAMPIONS
The insights and methodology behind the BT-KPMG India's Best Banks and NBFCs Survey 2023-24.
'INDIA IS AT AN EXTREMELY SWEET SPOT'
The jury members of the BT-KPMG Survey of India's Best Banks and NBFCs discuss developments in the banking sector and more
FROM CRISIS TO TRIUMPH
Dinesh Kumar Khara stewarded SBI through multiple challenges during his tenure, while ensuring that profits tripled, productivity soared, and the bank consolidated its global standing
AT A CROSSROADS
BANKS ARE FACING CHALLENGES ON BOTH SIDES OF THE BALANCE SHEET-ASSETS AS WELL AS LIABILITIES-WHICH ARE PUTTING PRESSURE ON MARGINS.
EXPANSIVE VISION
Bajaj Finance, an outlier in terms of digitisation, faces stiff competition. But it continues to expand its reach
