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Informist, Tuesday, Apr. 28, 2026

 

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--Maruti Suzuki Jan-Mar net profit INR 35.91 bln
--Analysts saw Maruti Suzuki Jan-Mar net profit at INR 40.65 bln
--Maruti Suzuki Jan-Mar revenue INR 524.49 bln
--Analysts saw Maruti Suzuki Jan-Mar revenue at INR 514.52 bln
--Maruti Suzuki Jan-Mar net profit INR 35.91 bln vs INR 38.57 bln year ago
--Maruti Suzuki Jan-Mar revenue INR 524.49 bln vs INR 409.10 bln year ago
--Maruti Suzuki to pay INR 140 per share final dividend
--Maruti Suzuki FY26 net profit INR 144.45 bln vs INR 142.98 bln year ago
--Maruti Suzuki final dividend record date Aug 7
--Maruti Suzuki FY26 revenue INR 1.83 tln vs INR 1.53 tln year ago
--Maruti Suzuki Jan-Mar operating profit INR 44.09 bln, up 30.4% on year
--Maruti Suzuki: Sales restricted by limitation in production capacity
--Maruti Suzuki: Have pending customer orders of 190,000 as on Mar 31
--Maruti Suzuki: Out of 190,000 pending orders, 130,000 orders for small cars
--Maruti Suzuki: Dealer inventory was about 12 days
--Maruti Suzuki Jan-Mar operating EBIT margin 8.8%, up 10 bps on year
--Maruti Suzuki Jan-Mar EBIT margin down due to adverse commodity prices
--Maruti Suzuki Jan-Mar EBIT margin down due to lower non-operating income

 

By Anand JC

 

MUMBAI – Maruti Suzuki India Ltd. reported a year-on-year profit contraction for the first time in the last four quarters, even as revenues rose at a healthy rate, given the sharp rise in expenses for the March quarter. The market reacted negatively as the company's profit missed expectations, with its shares falling as much as 2.2?ter the company disclosed its results.

 

Maruti Suzuki reported a net profit of INR 35.91 billion for the March quarter, down 7% on year and 5% on quarter. Analysts had expected the company's bottom line for the reporting quarter at INR 40.65 billion. The company blamed the year-on-year fall on mark-to-market impact.

 

Its top line for the quarter under review was INR 524.49 billion, up 28% on year and 5% on quarter. Projections had pegged the Swift maker's top line at INR 514.52 billion. 

 

Maruti Suzuki earned INR 500.79 billion from the sale of its products during the quarter, up almost 29% on year and just over 5% on quarter. This segment forms around 95% of the company's total revenue from operations. 

 

The company had despatched 657,100 cars to dealerships in the quarter, up 13% on year. Domestic sales grew 12% on year to 545,166 units while exports grew 17% to 111,934 units.

 

Maruti Suzuki managed to register a record-high annual domestic and export sales volume, net sales and profit. The company retained its spot as India's top automobile exporter for the fifth consecutive year in 2025-26 (Apr-Mar).

 

"This performance was made possible because of steep growth in the domestic market in the second half of the year owing to the GST reduction," the company said in a press release. "The company sales were restricted by a limitation in the production capacity as evidenced by about 190,000 pending customer orders at year end, including nearly 130,000 orders in the small car segment (18% GST bracket)," it said. Dealer inventory as of date was at a low of about 12 days' stock, the company said.

 

Its expenses for the quarter grew 28% on year and 4% on quarter to INR 481.13 billion. The cost of material consumed, by far its biggest expense in any given quarter, swelled 51% on year and 20% on quarter to INR 351.69 billion. Staff costs grew 25% on year but fell 17% on quarter to INR 22.47 billion. Maruti Suzuki's tax expenses grew 24% on year and 20% on quarter to INR 12.46 billion.

 

Maruti Suzuki's operating earnings before interest, tax, depreciation, and amortisation for the March quarter grew 27% on year to INR 61.57 billion. Its operating EBITDA margin fell 20 basis points on year but rose 60 bps on quarter to 12.3%, dragged down by a rise in material costs and a fall in other operating expenses, but partially offset by a fall in other expenses and employee costs.   

 

The company said its margin for the March quarter, compared with the year-ago quarter, was under pressure due to adverse commodity prices and lower non-operating income, but was supported by favourable operating leverage and lower sales promotion and advertising expenditures.

 

When compared with the December quarter, Maruti Suzuki's margins for the reporting quarter were under pressure due to expenses related to the newly launched e Vitara, higher manufacturing expenses, and lower non-operating income. These were partially offset by lower staff costs, as the company had taken a one-time provision in the December quarter due to the new labour codes. Additionally, lower sales promotion expense, and favourable foreign exchange movement also supported the 60 bps on-quarter rise in its operating EBITDA margin.

 

 

The board of Maruti Suzuki has recommended a record-high dividend of INR 140 per share for FY26, compared with INR 135 last year. For FY26, the company reported net profit of INR 144.45 billion, up 1% on year, Its revenue for FY26 climbed almost 20% to INR 1.83 trillion. 

 

Having fallen after the results were declared, Maruti Suzuki's shares extended their fall closer to market close. At 1525 IST, its shares traded 2.9% lower at INR 12,845 on the National Stock Exchange.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

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