In a regulatory filing, Maruti Suzuki said it will file objections within the prescribed timelines. “The Company will file its objections before the Dispute Resolution Panel,” it said.
The automaker also clarified that the development will not have any impact on its financials or business activities.“There is no impact on financial, operation or other activities of the Company due to this draft assessment order,” it added.
Shares of Maruti Suzuki were trading at ₹12,940, up 1.4% in afternoon trade on the NSE.The development comes amid ongoing expansion plans by the country’s largest passenger car maker.
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Last month, Maruti Suzuki said it will invest ₹35,000 crore to set up a new manufacturing facility at Khoraj in Gujarat, with a planned annual production capacity of 10 lakh vehicles. The plant is expected to create around 12,000 jobs and will be built on land allotted by the Gujarat Industrial Development Corporation.
The company had also reported its December quarter earnings, where revenue rose 28.7% year-on-year to ₹49,892 crore, supported by an 18% increase in volumes and improved pricing.
However, profitability was impacted by a one-time labour code-related cost of ₹594 crore, which was accounted for under employee expenses. Adjusted for this impact, operating performance was broadly in line with expectations.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 10% to ₹5,572 crore, though it came in below market estimates.
