Maruti Suzuki, the country’s top carmaker, has budgeted capital expenditure of about Rs 5,500 crore in this financial year.
This highest-ever capex is to give push to operations after two years of modest performance and a decline in market share.
Quoting people aware of the matter, an ET report said the capex guidance is Rs 1,000 crore higher than the earlier guided capex of Rs 4,500 crore at the beginning of the fiscal.
The company plans to spend Rs 3,000 crore in the ongoing last quarter of the fiscal alone, almost twice the capex last year, it added.
It quoted Rahul Bharti, executive director, corporate affairs at Maruti Suzuki India, as saying that the full-year capex is estimated to be more than Rs 5,500 crore.
