India’s Samurai

Kenichi Ayukawa, Maruti Suzuki India is in such a strong position that it is difficult to recollect the dire straits it was in when he had taken over as CEO more than six years ago. Following two years of labour unrest at its Manesar factory, the company’s hold on the market had loosened, with market share falling to less than 40 per cent. For the first time in decades, competitors felt the company could be beaten at its own game, on its home turf. Ayukawa was able to effect a complete reversal in the company’s fortunes. By the end of 2018/19, Maruti’s market share had climbed over 51 per cent, the highest in a financial year since 2000/01. It accounts for four of the top five and seven of the top 10 bestselling cars in the country and in the last three fiscals has grown revenue by an average of 14.5 per cent per annum and profit by 12