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True, Maruti will be saved of the initial capex estimated by analysts at about Rs. But then, funds constraint was never a deterrent for Maruti, given its strong cash balance and cash flows from operations.
The Gujarat unit will sell cars to Maruti at a so-called cost plus surplus value. Further, the release states that future capacity expansion at Gujarat will be funded by depreciation from the unit, net amount of surplus generated from car pricing and, if need be, from equity infusion by the parent, in that order.
So, incremental profit margins earned as the auto cycle turns positive will perhaps fund expansion, which in turn implies stagnation in long-term profitability.
Also, will Maruti have lower control on costs as additional production will be driven from Gujarat? In other words, the question is: The long-term plan post fiscal year is to expand to up to 1.
A Barclays Research report says that post-Gujarat, there would be a structural change in the earnings profile of the company towards higher proportion of distribution margin. Note that in fiscal yearJapanese parent Suzuki Motor Corp.
In other words, the clarification issued only skirts around the structure of funding. The huge cash flows generated by Maruti are expected to be used for research and development and expansion of distribution network.
No wonder, in spite of a reasonable performance in the December quarter, the stock has hardly moved up—about 1. In the near term, the stock price would remain subdued given that the passenger car market does not have a positive story to sell at present.
Sales growth has fallen to single digits, with contraction seen in segments like utility vehicles and exports. The February sales numbers released on Saturday saw a paltry 1. Sun, Mar 02 Policy on Corporate Gifting.
In line with MSIL’s Code of Business Conduct & Ethics & with an aim to stay sensitive to the kind of gifts we accept, Maruti Suzuki’s Corporate Gifting Policy defines guidelines and acceptable norms for accepting and offering of gifts.
|Maruti Suzuki: corporate governance is the issue - Livemint||Apr 01,|
Maruti Suzuki had initiated good 'Corporate Governance' practices even before Clause 49 became applicable and these practices form an integral part of the company's governance culture. The automotive industry in India is one of the largest in the world with an annual production of million vehicles in FY (fiscal year) –16, following a growth of per cent over the last year.
The automobile industry accounts for per cent of the country's gross domestic product (GDP). The Two Wheelers segment, with 81 per cent market share, is the leader of the Indian.
Watch Latest Videos on business and finance, stock market updates, Videos clips on market trends, experts views videos & more on cnbctvcom. S.N. Case Title: 1: Mobile Value Added Services (MVAS Mobile): The Next Big Avenue for Mobile Operators?
2: Tech Mahindra Acquiring Majority Stakes in Satyam Computer Services Ltd., for Value Creation Out of Dump. Representing a broad range of management subjects, the ICMR Case Collection provides teachers, corporate trainers, and management professionals with a variety of teaching and reference material.
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