Maruti Suzuki - September 2012 Sales Update - Angel Broking

MSIL posted better-than-expected sales growth of 9.8% yoy (73.6% mom) to 93,988 units as production at Manesar plant continued to improve post the lock-out. Volumes during the month also benefitted from a ramp-up in production at the Gurgaon plant ahead of the festival season.

- While domestic sales volumes increased 12.7% yoy (77.1% mom) to 88,801units; export sales at 5,187 units were down 23.1% yoy (up 28.9% mom).

- The sales in the mini segment, which had been on a declining spree since last one year, turned positive during the month registering a 4.9% yoy (77.5% mom) growth in volumes to 39,150 units.

- The super compact segment sales volumes also grew strongly by 24.3% yoy (279.1% mom) driven by the Dzire. Utility vehicles on the other hand posted a 5% sequential growth led by continued momentum in Ertiga volumes.

Source : Equity Bulls

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