BUS

INES
SREADI
NG
T
OPI
C:S
UZUKI
NAME:NI
SHANTBHARDWAJ

ROL
LNO:BM-
0181
81

COURS
E:PGDM

S
ESS
ION:(
201
8-20)

T
ERM:2
Bu
yMa
rut
iSu
zuk
i,t
arg
etp
ri
ceRs7
,650:S
hub
hamAg
gar
wal
S
hub
hamAg
gar
wal
rec
omme
nde
dtok
eeps
top
los
satRs7
050.

ET
Mar
ket
s.
com|
Upd
ate
d:No
v15,
201
9,09
.06AMI
ST

Bu
yMa
rut
iSu
zuk
i,t
arg
etp
ri
ceRs7
,650:S
hub
hamAg
gar
wal
Get
tyI
mag
es

Mar
utiS
uzu
kiI
ndi
aLtd
.,i
ncor
por
atedi
nth
eyea
r19
81,
isaL
arg
eCa
pco
mpa
ny(
hav
ingama
rke
tca
pofRs
21
8920.
44Cro
re)op
erat
ingi
nAutose
cto
r.

S
hubha
mAg ga
rwal
ofQuant
sappAdvi
sor
yhasbuycal
lo
nMaru
tiS
uzu
kiI
ndi
aLt
d.wi
thata
rge
tpri
ceo
fRs7650.
0
.Th
ec u
rre
ntmar
ketpr
ic
eo fMar
uti
Suzuki
Ind
iaLt
d.i
sRs7
247.1
Shub
hamAggar
walr
eco
mme n
dedt
okee
p
s
top
los
satRs7050

Mar
utiS
uzu
kiI
ndi
aLtd
.,i
ncor
por
atedi
nth
eyea
r19
81,
isaL
arg
eCa
pco
mpa
ny(
hav
ingama
rke
tca
pofRs
21
8920.
44Cro
re)op
erat
ingi
nAutose
cto
r.

Maru
tiSuz
ukiI
ndiaLt
d.keyProduc
ts/RevenueSegme n
tsi
ncl
udePassen
ge rCa r
s&L i
ghtDut
yUtil
it
yVehic
les
whi
chcontr
ib
utedRs7 4771
.50CroretoSal
esVa l
ue(86.
92%o fTot
alSal
es),SparePar
ts&Co mponen
tswhich
co
ntri
but
edRs8229 .
50Cr or
etoSa l
esValu
e( 9.
56%o fTot
alSal
es)
,Othe
rOp e r
ati
ngRevenuewhichco
ntr
ibu
ted
Rs1
356 .
40CroretoSale
sVa l
ue(1
.57%o fTotalS
ales)
,Ser
vi
ceInco
mewh i
chc ont
ri
but
edRs1033.20Cror
eto
Sal
esValu
e(1.
20%o fT ot
alSal
es)
, Sc
rapwhichcontr
ib
ute
dRs57 0.
50Cro r
et oSal
esVa l
ue(
0.66%o fTot
al
Sal
es)
,Rental
Incomewh i
chcont
ri
butedRs33.70Cr o
retoSal
esVal
ue(0.03%o fTot
alSal
es)andMoul
d&Di es
whi
chcontr
ib
utedRs25.50Cr o
retoSa l
esVal
ue(0.02%o fTo
talSa
les
)fo
rt heyearendi
ng31-Mar-
201
9.
T
wowh
eel
er
s&t
hre
ewh
eel
er
s
S
uzu
kima
yst
artt
est
i
nge
-Sc
oot
erh
eren
exty
ear

J
apa
neseau
toma
kerSu
zuki
Mo t
or’
stwo-
wheel
erun
itmayst
arttes
ti
ngi
t
se l
ect
ri
cscoo
tero
nthest
ree
tso
fIn
dia
a
ssoonasne
xtyea
r,b
utwi
lll
i
kel
ywa i
tfo
rin
fra
str
uct
uret
ode v
elo
pbef
oremar
keti
ngth
eprod
uct
.

NEHALCHAL
IAWAL
A

ETBu
rea
u|No
v11
,201
9,07
.56AMI
ST

S
uzu
kima
yst
artt
est
i
nge
-Sc
oot
erh
eren
exty
ear
Get
tyI
mag
es

MI
LAN:Ami
dtheongo
ingi
ndus
try
-wi
depushformovi
ngtoel
ect
ri
cvehi
cl
e(EV)te
chno
log
y,J
apa
neseau
toma
ker
Su
zuki
Moto
r’
stwo-
wheel
eruni
tmayst
artte
s t
i
n gi
tsel
ect
ri
csco
otero
nthestr
eet
sofI
ndi
aassoonasn
extye
ar,
bu
twil
ll
i
kel
ywaitf
ori
nf
ras
tru
ctur
etode
v e
lopbefo
remarke
ti
ngthepr
odu
ct.

"
Wewil
lr
esp
ectt
hego
vern
me ntpol
i
cy.Wewi
ll
makesomepr
oto
types
.Butt
her
eisnoi
nfr
ast
ruc
tur
e—t he
c
har
gi
ngsys
tem,
bat
ter
ystat
i
on ,
”sai
dSat
osh
iUch
ida
,theman
agin
gd i
re
cto
rofSuz
uki
Motor
cycl
eInd
ia.

Whe
nthecompa
nye
ventu
all
yla
unc
hesi
tsel
ect
ri
ctwo-
whe
ele
rsi
nIn
dia
,its
tan
dst
obe
nefi
tfr
omt
heEV
i
nf
ras
tru
ctu
reo
fMar
uti
Suzu
ki,
theco
unt
ry’
sl
arg
estca
rmak
erandSu
zuk
iMotor
’
sca
shco
w.
S
uzu
kiMo
torma
yso
ons
tar
tte
sti
ngi
t
sel
ect
ri
csc
oot
eri
nIn
dia
"
Wewil
lr
espectt
heg o
vern
me ntpol
i
cy.Wewil
lmakesomepr
otot
ypes
.Butther
eisnoi
nfr
astr
uct
ure—t he
c
har
gi
ngsyste
m, ba
tter
ystat
i
on ,
”sai
dSatos
hiUch
ida
,themanag
ingdi
re
ctorofSuz
uki
Mo t
orc
ycl
eIndia
.When
t
heco
mp a
nye ve
ntual
l
ylau
nchesit
select
ri
ctwo-
wheel
ersi
nIn
dia,
its
tandstobene
fi
tfr
omtheEVi n
fra
str
uct
ure
o
fMaru
tiSu
zuki
.

NEHALCHAL
IAWAL
A

ETBu
rea
u|No
v8,
201
9,08.
48PMI
ST

S
uzu
kiMo
torma
yso
ons
tar
tte
sti
ngi
t
sel
ect
ri
csc
oot
eri
nIn
dia
Age
nci
es

T
heg o
vern
me nti
spus
hin
gthea
uto
mobil
ein
dus
tryt
owa
rdse
lec
tri
cmo
bil
i
tyt
oco
mba
two
rse
nin
gai
rqu
ali
t
yan
d
r
is
ingpet
rol
eumimpo
rtsi
nth
ecoun
try
.

Amidtheongo
ingi
ndus
try-
widepushformovin
gtoel
ectr
icveh
icl
e(EV)t
echn
olo
gy,J
apa
nesea
uto
ma k
erSuzu
ki
Motor
’
st wo
-wheel
eruni
tmays t
artte
stin
gitsel
ect
ri
cscoot
eronthest
ree
tsofI
ndi
aassoo
nasnextyea
r,b
utwi
l
l
l
ik
elywaitf
ori
nfra
str
uct
uretodevel
opb ef
oremar
keti
ngthepr
oduct
.

"
Wewil
lr
esp
ectt
hego
vern
me ntpol
i
cy.Wewi
ll
makesomepr
oto
types
.Butt
her
eisnoi
nfr
ast
ruc
tur
e—t he
c
har
gi
ngsys
tem,
bat
ter
ystat
i
on ,
”sai
dSat
osh
iUch
ida
,theman
agin
gd i
re
cto
rofSuz
uki
Motor
cycl
eInd
ia.

Whe
nthecompa
nye
ventu
all
yla
unc
hesi
tsel
ect
ri
ctwo-
whe
ele
rsi
nIn
dia
,its
tan
dst
obe
nefi
tfr
omt
heEV
i
nf
ras
tru
ctu
reo
fMar
uti
Suzu
ki,
theco
unt
ry’
sl
arg
estca
rmak
erandSu
zuk
iMotor
’
sca
shco
w.
Ma
rut
iSu
zuk
i-
Toy
otaj
oi
ntv
ent
uret
ore
cyc
lec
ars
Th
ev en
tur
ewil
ls
etupi
t
sv eh
icl
edi
sman
tli
ngandr
ecycl
i
ngun
iti
nNoid
ain2020-
21a
ndwi
l
lad
dmo
reu
nit
s.
Maru
tiSu
zuki
Toy
ots
uwi
llp
rocu
reandd
ismant
l
ee n
d-o
f-l
i
fev
ehic
les(
ELVs
).

ETBu
rea
u|No
v7,
201
9,07
.43AMI
ST

Ma
rut
iSu
zuk
i-
Toy
otaj
oi
ntv
ent
uret
ore
cyc
lec
arsAg
enc
ies

"
Thepr
oces
swil
li
ncl
udec
omple
tesol
i
dan
dli
qui
dwa
stema
nag
eme
nta
spe
rIn
dia
nla
wsa
ndg
lob
all
yap
pro
ved
q
ual
it
yandenv
ir
onments
tan
dards
."

NEWDEL HI
:Marut
iSuzuk
iandToy
otaTsu
shoGro
uponWednes
dayannou
ncedanequa
ljo
intv
ent
ure,
Ma r
uti
Suzu
kiToyot
suI
ndi
a( MSTI
),f
orve
hicl
edi
smant
li
nga
n dr
ecycl
i
ng.
Theventu
rewi
ll
setupit
svehi
cl
edis
ma n
tl
ing
andrec
yc l
i
nguni
tinNoid
ain2020-21
andwil
lad
dmoreuni
t
s.Maru
tiS
uzuki
Toyo
tsuwi
llp
rocu
reanddi
smantl
e
end-
of-
l
if
ev ehi
cl
es(ELVs)
.

T
hepro
cesswi
ll
incl
udec o
mp l
et
es ol
i
dandli
q u
idwast
emanagementasperI
ndi
anl
awsandglo
bal
lya
pprov
ed
q
ual
i
tyandenvi
ro
nmen tst
andards,
thecompani
essai
dinasta
tement
.“Th
roug
hthi
sjoi
ntven
tur
e,MSTI
,weai
m
t
opr
omotere
cycl
ingands u
pporti
nreso
urceopti
mis
ati
onandcons
erv
ati
onwhil
eus
ingenv
ir
onmentf
ri
endl
y
s
yst
emsandproc
esses,”sai
dKe n
ich
iAyukawa,c
hie
fexec
uti
ve,MSI
L.

Scr
appi
ngofo
lde
rvehi
cl
esinasci
ent
if
ican
de n
vir
onmen
tfr
ien
dlymann
erwil
lhe
lpt
oredu
cep o
ll
ut
io
nandal
so
maketh
eroad
ss a
fer
.Exp
ertsa
tMS T
Iwil
ldi
smant
l
etheveh
icl
esus
ingi
nte
rna
ti
onal
tec
hnol
ogyandgl
oba
l
st
anda
rds,
headded.
S
uzu
kiMo
tori
snol
ong
erg
ung
-hoa
bou
tIn
dia
,an
diti
sno
tal
one
Gl
obal
pla
yer
sli
keFord
,Volks
wagena
ndF i
atareal
r
e a
dyre-
eval
uat
i
ngthei
rstr
ateg
ya sthe
ys t
rug
gletomake
i
nro
adsinamar
ketdominat
edbysmal
lcar
s.NowtheJap
ane
seauto
ma k
erhasis
suedawa r
nin
ga f
teri
trep
ort
ed
asl
umpinqu
art
erl
yprof
itth
iswe
ekontumbl
ingsa
lesati
tsI
ndi
anuni
t,
Ma r
uti
Suzu
ki,
wh i
chaccou
ntsfo
rhal
fthe
nu
mb e
rofca
rssol
dinIn
d i
a.

Re
ute
rs|
Upd
ate
d:No
v8,
201
9,03.
28PMI
ST

S
uzu
kiMo
tori
snol
ong
erg
ung
-hoa
bou
tIn
dia
,an
diti
sno
tal
one
BCCL

Ou
toft
hepi
ct
ure
:TheJa
panes
ea ut
omake
ris
suedthewa
rni
ngaft
eri
trep
ort
edasl
umpi
nqua
rter
l
yprofi
tth
is
wee
kontu
mbl
in
gs a
lesa
tit
sInd
ianuni
t
,Maru
tiS
u z
uki
,wh
ichac
count
sfo
rhal
fth
enumbe
rofc
arssol
dinI
ndia
.

S
uzu
kiMoto
rCor
psai
ditwasn
olon
gergu
ng-h
oa b
outI
ndi
a'
saut
omark
et,
thewor
l
d'sf
our
th-
la
rges
t,wh
e r
eithas
s
eenre
len
tl
essg
rowt
hinth
epasts
evenyea
rs.An
dthepar
ento
fth
ecount
ry'
sbi
gges
tcarmake
risnotal
one
.

T
heJap
aneseauto
makeri
ssu
edthewar
ninga
fte
ritr
epor
tedasl
umpi
nquar
terl
ypr
ofi
tth
iswee
kont
umb
li
ng
s
ale
satit
sInd
ianuni
t
,Maru
tiSu
zuki
,wh
ichac
count
sforh
alft
hen
umbero
fcarssol
dinI
ndi
a.

"
Wenol
ong
ert
hinkt
hatg
rowt
hinI
ndi
awil
lbea
nu n
int
err
upt
edmoveu
pwar
ds,
"Suz
ukiPr
esi
den
tTosh
ihi
roSu
zuk
i
c
aut
i
one
d.Mar
uti
'
ssal
es,
whic
hwer
eg r
owi
ngti
ll
Janu
ary,
hassl
i
ppe
dever
ymonthove
rFebr
uar
y-S
eptembe
r2019.
Ma
rut
iSu
zuk
i,T
oyo
taT
sus
hot
ose
tupv
ehi
cl
edi
sma
ntl
i
ng,
rec
ycl
i
ngu
nit
I
najoin
tvent
ure
,thetwocompa
nie
sMa r
utiS
uzuk
iIn
diaandToy
otaT
sush
oGroupwi
ll
setupi
t
sv eh
icl
e
d
ismantl
i
ngandrec
y c
li
nguni
ti
nNoida
,Utt
arPrad
eshby2020a n
dwil
lad
dmo r
esuchuni
t
sacro
ssIndi
a.MSI
wil
l
h
old50%s h
arewhi
leToyo
taTsu
showil
lho
ldth
eremaini
ng50%.I
twi
ll
beres
ponsi
bl
etopr
ocu
reanddisman
tl
e
e
nd -
of-
l
if
evehi
cl
es.

PT
I|No
v6,
201
9,01
.
21PMI
ST

Ma
rut
iSu
zuk
i,T
oyo
taT
sus
hot
ose
tupv
ehi
cl
edi
sma
ntl
i
ng,
rec
ycl
i
ngu
nit
Age
nci
es

NewDel
hi
:Ma
rut
iSu
zukia
ndT
oyo
taT
sus
hoGr
oupo
nWe
dne
sda
yan
nou
nce
daj
oi
ntv
ent
uref
orv
ehi
cl
e
di
sman
tl
in
gandr
ecycl
i
ng.

I
nthejo
intve
ntu
re--Mar
uti
Suzuk
iToy
ots
uIn
diaPvtLt
d(MSTI
)--Maru
tiS
uzuk
iIn
dia(
MSI
)wi
l
lhave50perce
nt
s
hare,
whil
eToyot
aTsus
hoGrou
pc o
mpani
es-
-T o
yotaTs
ush
oCorpor
ati
onandTo
yotaT
sus
hoI
ndi
aPvtLt
d--wi
ll
h
oldth
ere ma
ini
ngst
ake.

MSTI
wil
lse
tupitsvehi
cl
edi
sma
ntl
inga
ndrecy
cli
ngun
iti
nNo
ida
,Ut
tarPr
ade
shwi
t
hin2020-
21a
ndwi
l
lad
dmo
re
su
chuni
t
sa cr
ossIn
dia
,thec
ompan
iess
aidi
nastat
ement
.
S
ell
Mar
uti
Suz
uki
,t
arg
etp
ri
ceRs7
,300:Ab
hij
i
tPa
tha
k
Ab
hij
i
tPa
tha
kre
comme
nde
dtok
eeps
top
los
satRs7
580.

ET
Mar
ket
s.
com|
Upd
ate
d:No
v6,
201
9,09
.29AMI
ST

S
ell
Mar
uti
Suz
uki
,t
arg
etp
ri
ceRs7
,300:Ab
hij
i
tPa
tha
kTh
ink
Sto
ckPh
oto
s

Marut
iSu
zuk
iIn
diaL
td.
,i
ncor
por
atedi
ntheye
ar1
981
,i
saL
arg
eCa
pco
mpa
ny(
hav
ingama
rke
tca
pofRs
223095.
1
9Cror
e)op
erat
in
ginAutose
cto
r.

Ab
h i
j
itPat
hakofDef
in
e d
geSol
uti
onshassel
lca
llo
nMaru
tiS
uzu
kiI
ndi
aLt
d.wi
t
hata
rgetp
ri
ceofRs7300.
0.Th
e
cu
rrentmar
ketpri
ceofMar
uti
Suzuki
Indi
aLt
d.isRs7
385.
7Abhi
ji
tPa
tha
krec
ommen
dedtoke
epsto
plos
satRs
7580

Marut
iSu
zuk
iIn
diaL
td.
,i
ncor
por
atedi
ntheye
ar1
981
,i
saL
arg
eCa
pco
mpa
ny(
hav
ingama
rke
tca
pofRs
223095.
1
9Cror
e)op
erat
in
ginAutose
cto
r.

Maru
tiSuz
ukiI
ndiaLt
d.keyProduc
ts/RevenueSegme n
tsi
ncl
udePassen
ge rCa r
s&L i
ghtDut
yUtil
it
yVehic
les
whi
chcontr
ib
utedRs7 4771
.50CroretoSal
esVa l
ue(86.
92%o fTot
alSal
es),SparePar
ts&Co mponen
tswhich
co
ntri
but
edRs8229 .
50Cr or
etoSa l
esValu
e( 9.
56%o fTot
alSal
es)
,Othe
rOp e r
ati
ngRevenuewhichco
ntr
ibu
ted
Rs1
356 .
40CroretoSale
sVa l
ue(1
.57%o fTotalS
ales)
,Ser
vi
ceInco
mewh i
chc ont
ri
but
edRs1033.20Cror
eto
Sal
esValu
e(1.
20%o fT ot
alSal
es)
, Sc
rapwhichcontr
ib
ute
dRs57 0.
50Cro r
et oSal
esVa l
ue(
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