Maruti Suzuki Announces Record Dividend For FY24
Maruti Suzuki announces record dividend of Rs 125 per equity share for FY24, pending shareholder approval at annual general meeting.
Maruti Suzuki Ltd. has announced a final dividend of Rs 125 per equity share for the fiscal 2024, pending approval from shareholders at the ensuing annual general meeting. The company will distribute Rs 3,930 crore to unit holders in the fourth quarter of the previous fiscal.
The AGM will be held on Aug. 27, 2024, the company said in an exchange filing on Friday. This is the highest-ever dividend announced by the company.
The company paid Rs 90 as final dividend for fiscal 2023, compared to Rs 60 paid as final dividend in fiscal 2022.
Net profit of the automaker rose 48%, meeting analysts' estimates in the fourth quarter.
Maruti Q4 FY24 Earnings Highlights (Standalone, YoY)
Revenue up 19% at Rs 38,235 crore (Bloomberg estimate: Rs 38,459.5 crore).
Net profit up 48% at Rs 3,878 crore (Estimate: Rs 3,839.2 crore).
Declared dividend of Rs 125 per share.
Ebitda up 40% at Rs 4,685 crore (Estimate: Rs 4,940 crore).
Margin at 12.3% vs 10.5% (Estimate: 12.8%).