May 13, 2020 / 11:02 AM / 11 days ago

BRIEF-Maruti Suzuki Chairman Says Capital Budget For Current FY At 29 Bln Rupees

May 13 (Reuters) - Maruti Suzuki India Ltd Chairman R.C. Bhargava:

* SAYS HOPE TO START PRODUCTION AT GURGAON PLANT BY MAY 18-19

* SAYS ONE-THIRD OF DEALERS HAVE OPENED, 60% IN RURAL AREAS

* SAYS MANPOWER MOVEMENT NOT FREE, UNCERTAINTY STILL SEEN IN COMPONENT SUPPLIES

* SAYS GUJARAT PLANT YET TO OPEN AS VILLAGES NEARBY HAVE HIGH NUMBER OF INFECTED CASES

* SAYS HAVE GIVEN SOME VENDORS ADVANCES AGAINST SUPPLIES, CAN HELP MORE IF NEEDED

* SAYS CAPITAL BUDGET FOR THE CURRENT FISCAL YEAR IS 29 BILLION RUPEES

* SAYS SOME VENDORS ARE FACING MANPOWER ISSUES, FINANCIAL PROBLEMS

* SAYS LABOUR RETURNING TO VILLAGES HAS IMPACTED VENDORS, COULD AFFECT CO’S PRODUCTION

* SAYS EXPECT SOME DELAYS IN PLAN TO RELOCATE GURGAON PLANT Maruti Suzuki India Ltd Chief Financial Officer Ajay Seth:

* SAYS EBITDA MARGIN FOR Q4 FY20 AT 9% VERSUS 11% YEAR AGO Maruti Suzuki India Ltd Managing Director Kenichi Ayukawa:

* SAYS FACING CHALLENGES IN DESIGN, DEVELOPMENT FOR NEW PRODUCT LAUNCHES, ELECTRIC VEHICLES Further company coverage:

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