Winning Bizness Desk

Mumbai. In a first, ever since Maruti's stepped in India, it is going to do such a thing which it never did in 40 years. Maruti Suzuki India on has announced a dividend of Rs 90 per share, which is the highest in the history of the last 40 years. This means that if an investor has 10,000 shares of Maruti, then he will get a profit of Rs 90,000 according to the dividend of Rs 90 per share. The company also announced that its board has approved the appointment of Arnab Roy as Chief Financial Officer (CFO) – effective October 16 and full-time CFO of the company with effect from January 1, 2024.

To invest Rs 45,000 crore

The current CFO of the company, Ajay Seth will retire from the full time position of the company after 31st December. Thereafter, he will continue to be a member of the Executive Board (MEB). Speaking at the company's AGM, MSIL Chairman RC Bhargava said, the company will invest Rs 45,000 crore and this capital will be used to double the company's production from two million to four million in the next eight years (2031). He said that MSIL will make six electric vehicles (EVs) by 2030, which will be produced at the Gujarat plant. Earlier this month, the country's largest carmaker revealed plans to buy its Japanese parent Suzuki Motor's plant in Gujarat to get a better grip on production, including EVs.

To export eight lakh cars by 2031

MSIL is also expected to export eight lakh cars by the financial year 2031. Bhargava said that by the financial year 2023, it will export 2,59,333 vehicles. If we talk about the shares of the company, then it closed at Rs 9620.10 on BSE on Tuesday. According to the data, the company's stock had opened at Rs 9595.05 and also went to the day's high of Rs 9677.65. At present, the market cap of the company is more than Rs 2.90 lakh crore. In the first week of July, the share price of the company had crossed Rs 10,000.