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MARUTI SUZUKI INDIA LIMITEDMarch, 2009

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Safe HarbourThis presentation might contain forward looking statements which

involve a number of risks, uncertainties and other factors that could cause the actual results to differ materially from those in the forward looking statements.

Maruti Suzuki undertakes no obligation to update these to reflect the events or circumstances thereof.

This presentation also contains reference to the findings of various reports available in the public domain. Maruti Suzuki takes no responsibility as to their accuracy or that the company subscribes to those findings.

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Agenda

About Maruti SuzukiThe year so far…Way forward Maruti Suzuki

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About Maruti Suzuki

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Company at a glanceEquity Structure 54.21% Suzuki, 45.79% with FIs, Public

Turnover Rs. 188.2 bn

Net Profit Rs. 17.3 bn

Sales 764,842 cars

Market Share 54% (Passenger Cars including Van type vehicles)

Manpower Over 7720 employees in 4 plants

Models 12 brands with over 100 variants

FY 08

FY 08

FY 08

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Our FacilitiesGurgaon Facility: 300 acres, capacity 700,000 cars/ annum

Assembly plants 1,2,3 & Engine plants F, G and new K series Manesar Facility: 600 acres, capacity 300,000 cars/ annum

Assembly plant 4Diesel Engine plant, SPIL: JV SMC & MSIL, 200,000 units/ annum Supplier’s Park: 100 acresTotal Capacity: One Million

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Product Portfolio

A1< 3400mm (also in LPG) 796cc A2 (3401-4000 mm) 1061ccA2 (3401-4000mm) 796 cc A2 (3401-4000 mm) 1061cc, in LPG also

A2 (3401-4000 mm) 1298 cc in Petrol1248cc in Diesel

A3 (4001-4500mm)-1290cc in Petrol & 1248cc in Diesel

A3 (4001-4500 mm)1598cc

C-segment- Van Type 800 ccSUV segment 4 Wheel: 2 litr SUV segment 4 Wheel: 1300cc C-segment- Van Type 1300 cc

A2 (3401-4000 mm) 998cc

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78% 79% 78%

17% 19% 20% 17% 18%

3% 4% 3% 4% 4%

76% 77%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

2003-04 2004-05 2005-06 2006-07 2007-08

A1+A2+C A3 A4-A6

Share of Segments in the Industry

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Market Share over the years

55.06

54.5

55.1

54.6

54.7

54.9

15.9

19

12.9

12.1

4.3

4

16.6

17.08

16

16.8

15.9

14.29

16.4

15.4

4.3

2.7

4.1

5.1

2003-04

2004-05

2005-06

2006-07

2007-08

2008-09 10M

Maruti Hyundai Tata Honda

(In%)

More than half the market for the past 20 years since 1986-87

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Sales Network

243280

325

375

491

600627

161182 197

227

312

393413

3659 51506903

880511770

14666 14454

100

200

300

400

500

600

700

2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 (Jan)

-50000

-40000

-30000

-20000

-10000

0

10000

20000

Dealer Sales Outlets: Urban and Rural Formats

Cities Covered

Dealer Sales Force

12

Service Network

1920

2628 2673

1001

12201264

1500

1700

1900

2100

2300

2500

2700

2900

2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 (Jan)900

1100

1300

1500

1700

1900

Service Outets

Cities Covered

13For 9 years Maruti Suzuki has been the only player above industry average

Customer Satisfaction JD Power Assessment

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Pre-owned car business

Helps in exchange salesEnhances residual value thereby reducing cost of ownershipNetwork : 304 True Value Dealers in 179 cities83,107 units new cars sold through exchange in 10 months FY09.

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Technology at Maruti Suzuki

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Eight new models in 40 months

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Next Generation: KB Engine Technology1 litre All Aluminium engine67ps / 90nmEuro-5 compliant A-star & Splash Fuel Efficiency- 19.59km/l on A-starImproved NVH

(Noise, Vibration & Harshness)

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Diesel technology

Swift & DZire, Splash shortly1.3L - 75 bhp - 190 Nm torque5 Step Multi Injection Common RailGood NVH, not usually associated with diesel cars.21 km/l in Swift & DZire

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Maruti Suzuki R&D evolution

Phase 1 – Localisation

Phase 2 – Facelift capability

Phase 3 – Collaborative design

Phase 4 – Full Body Design

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Financial Performance1,

050

1,46

0 5,42

0

8,54

0 11,8

91

15,6

20 17,3

08

72,535

90,812109,108

120,034

145,922

178,603

70,677

0

2000

4000

6000

8000

10000

12000

14000

16000

18000

20000

2001 -02

2002 -03

2003 -04

2004 -05

2005 -06

2006 -07

2007 -08

Rs

Mill

ions

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

Rs

Mill

ions

PAT Net Sales

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8.2%

10.1%

15.2%16.6% 17.1% 17.7% 17.5%

1.5% 2.1%

6.0%

7.8%

9.9%10.7%

9.7%

2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08

Financial Performance

EBITDA

PAT

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Challenges faced this year

How are things changing

What can we say about the next year

The year so far…

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Industry Growth-Passenger Cars

Quarterly Industry Growth08-09

11.6%

-1.2%

-12.7%-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

Quarter1 Quarter 2 Quarter 3Quarter

grow

th

-24.3%

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Challenges faced this year

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InflationRising Inflation

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

Aug-07

Sep-07

Oct-07

Nov-07

Dec-07

Jan-08

Feb-08

Mar-08

Apr-08

May-08

Jun-08

Jul-08

Aug-08

Period

Rat

e

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Interest RateInterest Rate & CRR

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

FY 06-07

H1

FY 06-07

H2

FY 07-08

H1

FY 07-08

H2

FY 08-09

Q1

Jul'08

Aug'08

Sept'0

8

Period

Rat

e Cust Interest Rate

CRR

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Equity Markets

Swinging Sensex

2,0004,0006,0008,000

10,00012,00014,00016,00018,00020,000

Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09Period

Inde

x

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Crude

Crude at its Peak

5060708090

100110120130140

July-07

August-07

Sept-07

Oct-07 Nov-07

Dec-07

Jan-08 Feb-08

March-08

April-08

May-08

June-08

July-08

August-08

Period

Pric

e/B

arel

l

Oil Price/barell

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Cascading effect

News from the west-Lehman Brothers-Bear Stearns-AIGSub prime crisis snowballs.Job cuts in USMelt down became talk of the

town

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Consumer Sentiment

Depressed market sentiment

“ not the best time to buy”

“ lets wait & watch”

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Finance Availability

Banking system confidence

Money Supply

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Finance Penetration

10%20%

30%40%

50%60%70%

Apr-08 May-08

Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09

PSU BanksPvt BanksTotal

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…The final blow

Quarter 3

November- Industry Shrinks -21.2%November -26/11- Mumbai Terror attack

It seems everything that could go wrong went wrong this year

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Proactive GovernmentIndustry responds through discounts and price cutsInflation recedesGovernment opens money supplyOn Govt. push, PSU banks start lending freely ( Pvt banks still averse)Interest rates soften 200-300 bpsConsumer sentiment improves ( starting with bargain hunters in Dec.)

The positives ….

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Calibrated view of Indian Economy

-2

0

2

4

6

8

10

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USA Euro Zone France Germany Italy Spain UK Japan China India

2006 2007 2008 2009

India is set to grow by about 7%

next year estimates 5.5 -6 %

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Financial Highlights 9M- Apr-DecParameters 9M FY09 9M FY08 Change

Net Sales (Rs Mn) 140,499 130, 974 7.3 %

EBITDA (Rs Mn) 18,787 23,682 -20.7 %Depreciation (Rs Mn) *5094 2507Profit Before Tax (Rs Mn) 13,272 20,677 -35.8 %

Profit After Tax (Rs Mn) 9755 14331 -31.9 %

* Pursuant to revision in useful life of assets in Q4’ Fy08

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Financial Highlights 9M (08-09)

Parameter 9M’Fy09 9M’ Fy08 ChangeMaterial Cost 79.4% 76.4% 3.1%Employee Cost 2.4% 2.% 0.4%Selling & Distribution expenses 3.8% 2.8% 1 %Manufacturing Expenses

RoyaltyPower & Fuel

2.7%3.3%1.1%

2.2%2.6%0.8%

0.05%0.7%

0.30%

EBITDA 13.4% 18.1% (4.8)%Depreciation 3.6%* 2 % (1.6)%PBT 9.4% 15.8% (6.3)%PAT 6.9% 10.9% (4)%

As % of Net Sales

* Pursuant to revision in useful life of assets in Q4’ Fy08

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Cost drivers

CommoditiesForexSales discounts

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Commodities46 48 52 54 56 59 56

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34 37 38 39 41 42 43 43 41 3944

4745 46

0

1020

30

40

5060

70

Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

Rs.

/Kg

Steel CRC EDD Steel CR-IH

133 129 132 141 147 144 128 130 115 109 99

346386 393 393 401

366 356

274212

177 186

0

100

200

300

400

500

Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

Rs.

/Kg

Aluminium Copper

12217

6440

3761

2218 1961 1785

12045

11829

1336813100

8695

0

2000

4000

6000

8000

10000

12000

14000

16000

Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

Rs./G

m

Rhodium

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Forex Exposure

Direct : Import of components, Steel , Royalty payments ~ 12 % of Net Sales

Indirect : vendor imports ~ 10 % of Net Sales

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Way forward for Maruti Suzuki

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Industry Outlook

No guidance intendedBest perception about domestic market growth in FY10 at 5 %

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Way forward Maruti SuzukiProductsExportsDomestic market opportunitiesCommodity R&DForexCommitment to Road Safety in India

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Way forward Maruti Suzuki

ProductsFull year volumes of A-star(powered by next generation light weight

KB engine, mileage 19.6 km/l, ELV compliant and lowest emissions in its category)Suzuki World Strategic Model-Splash(KB engine, Petrol & Diesel variant )Increased availability of diesel engines

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Way forward Maruti Suzuki

Exports

New product- new markets (A- star)

World class port infrastructure, more efficient logistics

46Our first shipment of A-star to Europe at our new terminal at Mundra

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Way forward Maruti Suzuki

Domestic market opportunitiesPotential consumer segments

Rural Sector (~8% of our sales)Government Employees (~15% of our sales)

Enhanced Customer Interface - Brand Centers & Stockyards

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Way forward Maruti Suzuki

On Cost sideCommodities softeningExtensive work on Tier-II vendor upgradation

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Way forward Maruti SuzukiOn R&D

Investment in R&D capability full stream Over 80 engineers trained in JapanFull body change capability in 2010Transforming models for new enginesSpeed, relevance and excitement in market placeR&D centre at par with JapanComplete Test Course facility

238 269

430

687

1000

2005-06 2006-07 2007-08 2008-09 (Jan) 2010-11e

Design Engineers’ Strength at Maruti Suzuki

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Way forward Maruti Suzuki

On Forex

Forex almost neutral, but with cross-currencyVendor localization

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Way Forward - Capital Expenditure

•Vehicle Production Capacity of 1 million achieved•Manesar Plant Capex done•Going forward Capex major areas

oKB Engine Expansion, oGurgaon plant modernizationoR&D oMarketing – Brand Centres & StockYardsoNew Model development

•Total Plan oFY10 Rs 24 billionoFY11 Rs 13 billionoFY12 Rs 4 billion

•Cash Position Rs 32 billion (31st Dec-08)

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India is World’s No.1 in road accident fatalities78% accidents due to driver faultTrain 500,000 in next 3 years towards ‘Safe Driving’100,000 – sponsored by MSIL from weaker sectionsPartnership with State governments & Dealerships.

Our commitment to Road Safety in India

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Road Safety Infrastructure

Train 500,000 in next 3 years towards `Safe Driving’

In partnership with State Governments.

Pilot in March 2000Second IDTR in 2006Four more in the pipeline –

Gujarat, Haryana(2), Uttarakhand

Two Institutes of Driving Training and Research (IDTR)

Over 550,000 commercial drivers trained in Delhi & NCR

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Thank You