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Maruti Suzuki to shut plants to make oxygen for medical needs

Capital Market 

The car major has advanced its bi-annual maintenance shutdown to 1st May through 9th May from earlier plan of June.

As part of the car manufacturing process, Maruti Suzuki uses a small amount of oxygen in its factories while relatively much larger quantities are used by the manufacturers of components.

In the current situation, the company believes that all available oxygen should be used to save lives. Accordingly, Maruti Suzuki has decided to advance its maintenance shutdown, originally scheduled for June, to 1st to 9th May. Production in all factories will close for maintenance during this period.

Suzuki Motor Gujarat has taken the same decision for its factory.

Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles).

The car major reported 9.7% decline in net profit to Rs 1,166.10 crore on 33.6% increase in net sales to Rs 22,958.60 crore in Q4 FY21 over Q4 FY20.

The scrip gained 0.20% to end at Rs 6571.10 on the BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, April 28 2021. 15:48 IST
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