Maruti Suzuki India hits 52-week high after strong Q4 numbers

Meanwhile, the BSE Sensex was down 41.59 points, or 0.21%, to 19,365.26.

On BSE, 3.10 lakh shares were traded in the counter as against an average daily volume of 76,294 shares in the past one quarter.

The stock hit a high of Rs 1,674.90 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 1,567.65 so far during the day. The stock had hit a 52-week low of Rs 1,052 on 4 June 2012.

The stock had outperformed the market over the past one month till 25 April 2013, rising 23.74% compared with the Sensex's 3.88% rise. The scrip had also outperformed the market in past one quarter, falling 0.65% as against Sensex's 3.47% fall.

The large-cap company has an equity capital of Rs 144.46 crore. Face value per share is Rs 5.

Suzuki Powertrain India (SPIL) was merged with the company during the year ended 31 March 2013 (FY 2013) and the effect of the merger was given in the books of accounts in Q4 March 2013.

Excluding the effects of the SPIL merger, Maruti Suzuki India's net profit surged 79.8% to Rs 1147.50 crore on 9.4% increase in net sales to Rs 12566.60 crore in Q4 March 2013 over Q4 March 2012.

The company said the profit increased during quarter on account of higher sales of new models such as Ertiga, DZire and Swift, cost reduction and localisation efforts and the benefits of a favourable exchange rate.

Excluding the effects of the SPIL merger, the company's net profit rose 40.6% to Rs 2300 crore on 21.3% increase in net sales to Rs 42122.90 crore in the year ended March 2013 over the year ended March 2012.

The company's board recommended a dividend of Rs 8 per share for the year ended March 2013.

Meanwhile, the board has approved the amalgamation of seven wholly-owned subsidiaries of Maruti Suzuki India, namely, Maruti Insurance Business Agency, Maruti Irisurance Agency Services, Maruti Insurance Distribution Services, Maruti Insurance Agency Logistics, Maruti Insurance Agency Solutions, Maruti Insurance Agency Network and Maruti Insurance Broker into the company.

Japanese parent Suzuki Motor Corporation holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 March 2013).

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