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    MARUTI   INE585B01010

MARUTI SUZUKI INDIA LTD

(MARUTI)
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Delayed Quote. Delayed NSE India Stock Exchange - 08/03 04:51:17 am
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Maruti Suzuki India : Hon'ble Chief Minister of Haryana inaugurates the first four Oxygen PSA generation plants at three hospitals in Haryana as part of Maruti Suzuki's CSR initiative

05/28/2021 | 11:26am EDT

Highlights:

* Earlier Maruti Suzuki tied up with three manufacturers of Oxygen generator plants to boost their capacity by over ten times

* Against a total of about 200 plants produced in the full year 2020-21 in the whole of India, the arrangement with these three manufacturers will itself produce minimum 70 plants in May and 150 in June

* Maruti Suzuki and its supplier partners are installing 24 such plants in Government hospitals as a CSR initiative to be completed within first half of June 2021

New Delhi: Honourable Chief Minister of Haryana Shri Manohar Lal today inaugurated four oxygen PSA generator plants in a virtual mode, donated and installed by Maruti Suzuki under its CSR initiative. This is the first batch of 4 Oxygen PSA generation plants commissioned in 3 Government Hospitals of Haryana.

Background: By end-April when the Covid second wave was shooting up, Maruti Suzuki started to look for purchasing oxygen generator plants to meet the crisis for its CSR program. The Company discovered that there are very few small scale manufacturers in the country making these. They were loaded with orders but had little capacity or wherewithal to produce and deliver these in any reasonable period of time. Just paying money could not have helped; they needed manufacturing scale-up. The Company decided to make it a Company initiative rather than just a CSR initiative and activated its Supply Chain division, roped in its supplier partners M/s JBML, M/s SKH Metals and M/s Motherson to help scale up the manufacturing activity of PSA manufacturers M/s Airox Nigen, M/s Sam Gases and M/s Gaskon. This arrangement was on a not-for-profit basis. In less than a month, this arrangement has reached an output of 6 plants per day.

The first 24 such plants will be installed by Maruti Suzuki and its suppliers as a CSR initiative within the first half of June '21. A separate team has been deployed with round the clock monitoring to ensure that these generator plants are installed successfully in hospitals and are operational. The monitoring will continue for a few months to ensure that these generators keep operating satisfactorily well after installation.

Future: For sustainability of operations of these manufacturing operations and to ensure that needy hospitals in the country are made aware of this opportunity, a website has been created

http://oxygengenerator.co.in

that will spread this information and channelize enquiries and orders so that manufacturing and deliveries can be planned for the future.

Lauding the efforts by MSIL, Hon'ble Chief Minister of Haryana Mr. Manohar Lal, said, 'We recognize Maruti Suzuki's critical role of being an economic booster to the growth and development of State of Haryana. Whenever the need has arisen Maruti Suzuki has always been the first company to reach out with adequate help and assistance. In the first wave, they were the first ones to come forward with much needed ventilators in the State. In the second wave, we witnessed a massive shortfall of oxygen supply. Here I appreciate Maruti Suzuki's approach of helping the small scale enterprises ramp up their production to meet the requirements of Oxygen PSA generator plants in the country. It is an appropriate solution to all the logistics challenges we faced in arranging medical oxygen. We aspire that every District Hospital in the State is equipped with an Oxygen PSA Generator plant before the onset of the dreaded third wave. We thank Maruti Suzuki for their timely intervention and support in installing these four Oxygen PSA Generator plants in Gurugram and look forward to continued support in future.'

Explaining the initiative, Mr R C Bhargava, Chairman, MSIL, said, 'Maruti Suzuki is supporting these 3 manufacturers to increase their production of PSA plants for oxygen for Covid. Within one month of our entering this project, our people have been able to increase the capacity of building Oxygen Generator plants by 10 times. This arrangement will deliver about 70 plants in May and 150 in June and this is more than the total estimated production in India in the financial year 2020-21.'

'On the topic of Oxygen supply chain, I think we should seriously study the benefits of on-site Oxygen generator plants as transporting oxygen over large distances seems to be a very sub-optimal solution,' Mr Bhargava said.

For photographs of Oxygen PSA generator plants, please click here:

https://www.flickr.com/photos/192022505@N03/albums/72157719285208324

Issued by:

Corporate Communication,

Maruti Suzuki India Limited,

1, Nelson Mandela Road,

Vasant Kunj, New Delhi

Email: corp.comm@maruti.co.in

Website: www.marutisuzuki.com

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MARUTI SUZUKI INDIA LTD 1.17% 7161.4 Delayed Quote.-7.49%
SUZUKI MOTOR CORPORATION 1.35% 4490 End-of-day quote.-6.11%
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Sales 2021 697 B 9 377 M 9 377 M
Net income 2021 47 561 M 640 M 640 M
Net cash 2021 388 B 5 219 M 5 219 M
P/E ratio 2021 45,2x
Yield 2021 0,76%
Capitalization 2 138 B 28 754 M 28 777 M
EV / Sales 2021 2,51x
EV / Sales 2022 1,85x
Nbr of Employees 15 945
Free-Float 43,6%
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Kenichi Ayukawa Chief Executive Officer, Executive Director & MD
Ajay Seth CFO & Senior Executive Officer-Finance
Ravindra Chandra Bhargava Non-Executive Chairman
Rajesh Uppal Senior Executive Officer-Human Resources & IT
Sanjeev Grover Secretary, Vice President & Compliance Officer
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