Recording the highest ever sales since its inception, India's largest carmaker Maruti Udyog Ltd posted a robust 30.3 per cent rise at 472,000 units during 2003-04.

Its March sales grew by 13.1 per cent to 52,700 units over 46,611 units in the same month last year, a company statement said in New Delhi on Thursday.

During the last fiscal, MUL exports grew by a hefty 58.7 per cent to 51,175 units, its highest ever exports since the company started shipping cars in 1988.

Out of the 52,700 units sold in March 2004, the highest ever monthly sales in the Indian market, MUL exported 8,282 units, a 96.6 per cent jump.

The record sales performance comes in the wake of the company's announcement that MUL, which is 54.2 per cent owned by Suzuki Motor Corp of Japan, would be the R&D hub of SMC for Asia.

During 2003-04, MUL's mega public offer was oversubscribed 10 times, giving a fillip to government's divestment programme.