Maruti Suzuki India : Suzuki Announces Financial Results for the period of April to September 2022

	MARUTI �SUZUKI
MSIL: COS: NSE&BSE: 2022/11_05
8th November, 2022
Vice President	General Manager
National Stock Exchange of India Limited	Department of Corporate Services
"Exchange Plaza", Bandra- Kurla Complex	BSE Limited
Bandra (E)	Phiroze Jeejeebhoy Towers
Mumbai - 400 051	Dalal Street, Mumbai- 400 001
Sub: Press Release
Dear Sirs,
Please find enclosed herewith a copy of	the Press Release and reference

to the Consolidated Financial Results issued by Suzuki Motor Corporation in Japan.

Kindly take the same on record.

Thanking you,

Yours truly,

For Maruti Suzuki India Limited

SANJEEV GROVER

Digitally signed by

SANJEEV GROVER Date: 2022.11.08 12:07:36 +05'30'

Sanjeev Grover

Executive Vice President

• Company Secretary

MARUTI SUZUKI INDIA LIMITED

Head Office:		Gurgaon Plant:		Manesar Plant:
Maruti Suzuki India Limited,		Maruli Suzuki India Lirniled,		Maruti Suzuki India Limited,
1, Nelson Mandela Road, Vasant Kunj,		Old Palam Gurgaon Road,		Plot No.1, Phase - 3A, IMT Manesar,
New Delhi - 110070, India.		Gurgaon - 122015, Haryana, India.		Gurgaon - 122051, Haryana, India.
Tel: [phone], Fax: [phone]		Tel: [phone], Fax: [phone]		Tel: [phone], Fax: [phone]
E-mail id: [e-mail], www.marutisuzuki.com

CIN: L34103DL1981PLC011375

November 8, 2022

Suzuki Announces Financial Results for FY2022 Second Quarter (April to September 2022)

• Net sales and profit increased year-on-year for April-September period, mainly owing to improvement in sales mix/price, increase in volume, and the impact of the exchange rates.
• Full year forecast revised upward to reflect the progress of the first half of the fiscal year and the review of unit sales and the weak yen.

1. Outline of Financial Results for FY2022 April-September period

Net sales increased by ¥543.9 billion (32.5%) year-on-year (YoY) to ¥2,217.5 billion. Operating profit increased by ¥65.2 billion (65.8%) YoY to ¥164.3 billion. Ordinary profit increased by ¥44.1 billion (29.7%) YoY to ¥192.3 billion, and profit attributable to owners of parent increased by ¥14.6 billion (14.5%) YoY to ¥115.1 billion.

2. Outline of Financial Results for FY2022 July-September period

1. Outline of Financial Results

Net sales increased by ¥325.9 billion (39.3%) YoY to ¥1,154.1 billion, marking a record high throughout all quarters, mainly owing to increase in volume, and the impact of the exchange rates. Operating profit increased by ¥45.2 billion (101.2%) YoY to ¥89.8 billion, mainly owing to increase in sales which offset the impact of higher raw material prices.

Ordinary profit increased by ¥65.1 billion (174.1%) YoY to ¥102.5 billion, and profit attributable to owners of parent increased by ¥41.1 billion (260.2%) YoY to ¥56.8 billion.

1. Operating Results by Segment

1. Automobile business

Net sales increased by ¥287.2 billion (38.8%) YoY to ¥1,027.1 billion, and operating profit increased by ¥35.7 billion (98.9%) YoY to ¥71.7 billion, mainly owing to improvement in sales mix/price, increase in volume, and the impact of the exchange rates.

2) Motorcycle business

Net sales increased by ¥28.2 billion (45.8%) YoY to ¥89.6 billion, and operating profit increased by ¥4.5 billion (185.4%) YoY to ¥7.0 billion, mainly owing to increase in volume mainly in India, improvement in sales mix/price, and the impact of the exchange rates.

3) Marine business

Net sales increased by ¥10.6 billion (44.1%) YoY to ¥34.5 billion and operating profit increased by ¥5.1 billion (94.2%) YoY to ¥10.5 billion, mainly owing to steady sales of outboard motors in North America and the impact of the exchange rates. Both net sales and operating profit marked record highs throughout all quarters.

4) Operating results by geographic region

In Japan, Asia, and Other regions, both net sales and operating profit increased, mainly owing to increase in volume, and improvement in sales mix/price. In Europe, operating profit decreased, due to the impact of higher raw material prices, and decrease in volume caused by shortage of product supply.

3. Forecast of Full-Year Financial Results for FY2022

While there is no change in our perception that the risk of global recession is increasing, we have revised the forecast upward to reflect the progress of the first half of the fiscal year and the review of unit sales and the weak yen.

Net sales	¥4,500 billion	(up 26.1% YoY,
	up ¥600 billion from the previous forecast)
Operating profit	¥290 billion	(up 51.5% YoY,
	up ¥95 billion from the previous forecast)
Ordinary profit	¥320 billion	(up 21.7% YoY,
	up ¥100 billion from the previous forecast)
Profit attributable	¥190 billion	(up 18.5% YoY,
to owners of parent	up ¥55 billion from the previous forecast)

(Foreign Exchange Rate) ¥136/US$, ¥138/Euro, ¥1.72/Indian Rupee

4. Dividend

The interim dividend was decided as ¥50 per share, an increase of ¥5 YoY. The annual dividend is undecided, to determine the impact of parts shortage including semiconductors, and to assess global economic trends.

*Forecasts for the consolidated operating results contain risks and uncertainty and do not constitute guarantees of future achievement. Please note that the actual results may greatly vary by the changes of various factors. Those factors, which may influence the future results, include economic conditions and the trend of demand in major markets and the fluctuations of foreign exchange rates (mainly U.S. dollar/Yen rate, Euro/Yen rate, Indian Rupee/Yen rate).

[Consolidated 1/2]

November 8, 2022

SUZUKI MOTOR CORPORATION

(Billions of yen)

								2Q Results (July-September)			1H Results (April-September)
							2Q of	2Q of FY2022		1H of	1H of FY2022
							FY2021			Change	Ratio	FY2021			Change	Ratio
Net Sales					828.2	1,154.1		+325.9	+39.3%	1,673.6	2,217.5		+543.9	+32.5%
		Domestic Sales		247.4	293.8		+46.3	+18.7%	520.3	560.2		+39.9	+7.7%
			Suzuki brand		229.2	269.9		+40.7	+17.7%	482.3	517.2		+34.9	+7.2%
			OEM sales			18.2	23.9		+5.7	+31.3%	38.0	43.0		+4.9	+13.0%
		Overseas Sales		580.9	860.4		+279.6	+48.1%	1,153.3	1,657.3		+504.1	+43.7%
Operating Profit			44.6	89.8		+45.2	+101.2%	99.1	164.3		+65.2	+65.8%
(Margin)					(5.4%)	(7.8%)				(5.9%)	(7.4%)
Ordinary Profit			37.4	102.5		+65.1	+174.1%	148.2	192.3		+44.1	+29.7%
(Margin)					(4.5%)	(8.9%)				(8.9%)	(8.7%)
Profit attributable to			15.7	56.8		+41.1	+260.2%	100.5	115.1		+14.6	+14.5%
owners of parent
(Margin)					(1.9%)	(4.9%)				(6.0%)	(5.2%)
General View				Increased net sales and profit		Increased net sales and profit
		External factors			Effect of ForEX rates		+28.9		Effect of ForEX rates		+49.6
changeofFactors	ProfitOperatingin							Change in price of raw materials	-29.3		Change in price of raw materials	-59.0
								Total	-0.3				Total	-9.4
		Factors other than			Change in volume, mix/price, etc.	+84.2		Change in volume, mix/price, etc.	+131.9
		the above				(Change in volume)		(+31.0)		(Change in volume)		(+46.8)
								(Change in mix/price etc.)	(+53.2)		(Change in mix/price etc.)	(+85.1)
								Cost reduction		+8.2		Cost reduction		+10.7
								Various expenses		-28.2		Various expenses		-37.4
								R&D expenses		-10.4		R&D expenses		-18.3
								Depreciation expenses	-8.3		Depreciation expenses	-12.2
										Total	+45.5				Total	+74.6
Foreign									Effect					Effect
Exchange Rates		USD		110Yen	138Yen		+28Yen	+6.8	110Yen	134Yen		+24Yen	+11.9
and Effect on		EUR		130Yen	139Yen		+9Yen	+3.2	131Yen	139Yen		+8Yen	+5.3
Operating Profit		INR		1.49Yen	1.74Yen		+0.25Yen	+9.5	1.49Yen	1.72Yen		+0.23Yen	+15.5
Capital Expenditures			45.5	57.5		+12.0		83.2	131.7		+48.5
Depreciation Expenses		31.6	39.8		+8.3		65.9	78.1		+12.2
R&D Expenses			41.4	51.8		+10.4		77.1	95.4		+18.3
Interest-Bearing Debt balance							737.4	744.1		+69.9	※1
Cash	Flows	Operating Activities		63.4	69.2		+5.8		147.8	143.3		-4.5
Financing Activities		-35.3	-6.3		+29.1		-64.3	27.0		+91.3
		Investing Activities		-16.5	-70.8		-54.3		-45.2	-132.5		-87.3
		Cash Balance								958.7	917.1		+59.1	※1
		Auto	Sales			739.8	1,027.1		+287.2	+38.8%	1,498.6	1,967.1		+468.5	+31.3%
		Operating Profit		36.0	71.7		+35.7	+98.9%	78.0	128.0		+50.0	+64.1%
resultsOperating			(Margin)			(4.9%)	(7.0%)				(5.2%)	(6.5%)
Segmentby	MotoOtherMarine
			Sales			61.5	89.6		+28.2	+45.8%	119.0	175.9		+57.0	+47.9%
			Operating Profit		2.5	7.0		+4.5	+185.4%	6.9	15.3		+8.4	+122.1%
			(Margin)			(4.0%)	(7.8%)				(5.8%)	(8.7%)
			Sales			23.9	34.5		+10.6	+44.1%	49.9	68.8		+18.9	+37.7%
			Operating Profit		5.4	10.5		+5.1	+94.2%	12.2	19.8		+7.6	+62.3%
			(Margin)			(22.7%)	(30.6%)				(24.4%)	(28.7%)
			Sales			3.0	2.9		-0.0	-1.5%	6.1	5.7		-0.4	-6.3%
			Operating Profit		0.7	0.6		-0.1	-14.0%	2.0	1.3		-0.8	-37.7%
			(Margin)			(24.0%)	(21.0%)				(33.2%)	(22.1%)
		AsiaOtherEuropeJapan	Sales			452.1	592.8		+140.7	+31.1%	928.7	1,145.7		+217.0	+23.4%
resultsOperating	RegionGeographicby	Operating Profit		31.4	45.3		+13.8	+44.0%	61.5	98.3		+36.8	+59.8%
(Margin)			(7.0%)	(7.6%)				(6.6%)	(8.6%)
			Sales			118.0	141.8		+23.7	+20.1%	271.4	272.1		+0.6	+0.2%
			Operating Profit		2.0	1.2		-0.8	-39.2%	9.2	3.4		-5.7	-62.4%
			(Margin)			(1.6%)	(0.8%)				(3.4%)	(1.3%)
			Sales			411.8	651.2		+239.4	+58.1%	784.6	1,244.0		+459.4	+58.6%
			Operating Profit		6.6	42.0		+35.5	+540.0%	15.8	64.7		+48.9	+310.4%
			(Margin)			(1.6%)	(6.5%)				(2.0%)	(5.2%)
			Sales			56.2	100.2		+44.0	+78.4%	113.7	204.3		+90.6	+79.7%
			Operating Profit		2.7	4.7		+2.0	+75.9%	7.5	12.7		+5.2	+69.7%
			(Margin)			(4.8%)	(4.7%)				(6.6%)	(6.2%)
No. of Consolidated Subsidiaries							120	119		±0	※1
No. of entities accounted for							31	32		±0	※1
using equity method
No. of Employees								70,008	70,746		+1,553	※1
※1…compared to the end of FY2021

[Consolidated 2/2]

November 8, 2022

SUZUKI MOTOR CORPORATION (Billions of yen)

			Full-year forecast		Change
				from
			(April2022-March2023)
			Previous
							Forecast
					Change	Ratio
Net Sales		4,500.0		+931.6	+26.1%	+600.0
	Domestic Sales	1,200.0		+126.3	+11.8%
		Suzuki brand	1,100.0		+109.2	+11.0%	-
		OEM sales	100.0		+17.1	+20.6%	-
	Overseas	Sales	3,300.0		+805.3	+32.3%	+600.0
Operating	Profit		290.0		+98.5	+51.5%	+95.0
(Margin)		(6.4%)
Ordinary Profit		320.0		+57.1	+21.7%	+100.0
(Margin)		(7.1%)
Profit attributable to		190.0		+29.7	+18.5%	+55.0
owners of parent
(Margin)		(4.2%)
General View		Increased net sales and profit
	External factors	Effect of ForEX rates		+85.0	+55.0
Factors of change in Operating Profit			Change in price of raw materials	-110.0	-25.0
				Total	-25.0	+30.0
Factors other than	Change in volume, mix/price, etc.	+206.3	+95.0
the above		(Change in volume)		(+86.8)	-
		(Change in mix/price etc.)	(+119.5)	-
		Cost reduction		+35.0	-30.0
		Various expenses		-70.0
		R&D expenses		-39.3
		Depreciation expenses	-8.5
					Total	+123.5	+65.0
Foreign						Effect
Exchange Rates	USD	136Yen		+24Yen	+21.9	+16Yen
and Effect on	EUR	138Yen		+7Yen	+12.1	+8Yen
Operating Profit	INR	1.72Yen		+0.20Yen	+27.0	+0.12Yen
Capital Expenditures		290.0		+100.6
Depreciation Expenses	170.0		+8.5
R&D Expenses		200.0		+39.3