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    MARUTI   INE585B01010

MARUTI SUZUKI INDIA LTD

(MARUTI)
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Maruti Suzuki and Bank of Maharashtra join hands to support Dealer Inventory Financing

07/21/2021 | 11:46am EDT

New Delhi: Maruti Suzuki India Limited (MSIL) today announced signing of a MoU (Memorandum of Understanding) with Bank of Maharashtra. For the first time, Bank of Maharashtra will offer dealer inventory financing to MSIL dealers. Under the partnership, Bank of Maharashtra's Mahabank Channel Financing scheme shall provide comprehensive financing opportunities for MSIL's dealer partners across the nation.

Elaborating on the alliance, Mr. Shashank Srivastava, Senior Executive Director, Marketing and Sales, MSIL, said, 'We are thankful that this collaboration with Bank of Maharashtra will offer new-age banking and finance solutions for our dealer partners. There is a business requirement to induct more finance partners for dealer inventory funding keeping in mind long term business requirements and contingencies.'

Sharing his thoughts on the alliance, Mr. AS Rajeev, Managing Director & CEO, Bank of Maharashtra, said, 'We are extremely pleased to partner with MSIL, the largest passenger vehicle manufacturer in India, with an aim to provide enhanced digital lending services to its dealers and thereby produce a great synergistic effect. The tie-up will allow us to further consolidate the business to provide one-stop services under supply chain finance. We are optimistic that this partnership will help in leveraging business opportunities in MSME category and increase market penetration for MSIL.'

See more at: https://www.marutisuzuki.com/corporate/media/press-releases/2021/july/maruti-suzuki-and-bank-of-maharashtra-join-hands-to-support-dealer-inventory-financing

About Bank of Maharashtra

Bank of Maharashtra (BOM) is one of the leading Public Sector Bank headquartered at Pune, having about 2,000 branches spread across country with largest network of branches in Maharashtra serving 29 million customers.

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.
BANK OF MAHARASHTRA 0.00% 18.3 End-of-day quote.40.34%
MARUTI SUZUKI INDIA LTD 2.63% 7022.8 Delayed Quote.-10.50%
SUZUKI MOTOR CORPORATION -0.71% 5050 End-of-day quote.5.60%
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Financials
Sales 2022 902 B 12 218 M 12 218 M
Net income 2022 56 361 M 764 M 764 M
Net cash 2022 459 B 6 213 M 6 213 M
P/E ratio 2022 36,5x
Yield 2022 0,95%
Capitalization 2 068 B 28 040 M 28 023 M
EV / Sales 2022 1,78x
EV / Sales 2023 1,49x
Nbr of Employees 16 025
Free-Float 43,6%
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Last Close Price 6 846,70 
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Kenichi Ayukawa Chief Executive Officer, MD & Executive Director
Ajay Seth Chief Financial Officer
Ravindra Chandra Bhargava Non-Executive Chairman
Rajesh Uppal Chief HR & Information Technology Officer
C. V. Raman Chief Technical Officer
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