Maruti Suzuki allocates Rs 5,000 cr capital expenditure for FY19

INDORE, India - April 28, 2018 - PRLog -- India's largest passenger car company, Maruti Suzuki India, on Friday, stated that the Company it has earmarked Rs 5,000 crore for capital expenditure (capex) in the FY2019. The Company plans to invest in different verticals such as new product development, engineering, maintenance of plants and enhancing its sales network. The company has also set apart about Rs 1,000 crore, in the financial year 2018-19, to buy land for new dealerships.

As part of its network expansion strategy, Maruti Suzuki India Limited plans to buy land, build dealerships and subsequently lease them to selected dealers. At the end of fiscal 2017-2018, the company had about 80 land parcels across the country.

Maruti Suzuki India's bid to boost up its sales network comes at time when it has set a target to sell 20,00,000 units per year by 2020.

Maruti Suzuki India Limited, formerly known as Maruti Udyog, is an automobile manufacturer in the country. The company provides passenger cars, utility vehicles, vans and so on. The Company also offers pre-owned car sales, car financing services and fleet management.

The Company on Friday announced the Quarter four financial results for the period Jan-Mar 2018 and April-March 2017-18. The net profit stood at Rs. 18,821 million, which is up by 10 percent compared to the corresponding period last year.

Besides, the BoD of the company recommended a dividend of Rs. 80.00 per share of face value Rs. 5.00, for 2017-18.  On Friday, stock of Maruti Suzuki ended down by 1.90 percent at Rs. 8777.95 on the BSE. The stock opened at Rs. 9,013 share apiece and touched an intra-day high and a low of Rs. 9,142 and Rs. 8,721.10, on the exchange.

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