The total income for the company in the period grew by 8.04 per cent at Rs 3,392 crore (Rs 33.92 billion).
Maruti also announced that a new export model would be launched during 2008-09. "This model, while serving the Indian market, would be for export, mainly to Europe," the company said, adding that it will target to export 1,00,000 units of this model annually.
For the fiscal year ended March 31, 2006, Maruti's net profit was up 39.2 per cent at Rs 1,189 crore (Rs 11.98 billion) while total income moved up by 10 per cent to Rs 12,481.4 crore (net of excise).
The company said on Wednesday it expects sales to grow over eight per cent this fiscal, higher than 2005-06, and will be investing Rs 325 crore (Rs 3.25 billion) as part of capital expenditure.
"Growth should be better than last year. Our effort will be for that," Jagdish Khattar, MD, Maruti told analysts at the earnings call of the company after fourth quarter results.
He said the company had invested Rs 240 crore (Rs 2.4 billion) towards capital expenditure in 2005-06. "This fiscal, it is expected to be Rs 325 crore (Rs 3.25 billion) for Maruti alone. When we add the investments proposed for the new car plant -- Maruti SuzukiAutomobiles India Ltd -- it would certainly increase," the company said.
The company sold 5,27,038 units in the domestic market in 2005-06 sales, its highest since inception.
On margins, he said hardening of commodity prices 'will affect' raw material prices this year. However, he said the company was making efforts to neutralise this as much as possible, including by sourcing more steel from the local market.
The company said the eight per cent excise duty cut on small cars was good for sales. However, higher road tax in some states and hardening auto loan rates could neutralise the benefits of this, Khattar said.
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