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Earnings Call

Maruti Suzuki India Earnings Call: Key Takeaways

Maruti Suzuki delivered a record FY26 with highest-ever volumes and profits, driven by a sharp 16.7% H2 industry rebound and strong SUV performance.

Why this was an Alfa AlertCompany guided for 10% domestic volume growth in FY27, surpassing the industry forecast of 5-7%.
Highlights
Revenue growthNet sales grew 20.2% YoY reaching ₹1.74 trillion in FY26.
MarginsQ4 EBIT margins at 8.8% vs 8.1% QoQ; cost headwinds persist.
Order bookBacklog of 190k units highlights sustained demand outstripping supply.
Demand visibilityStrong; 190,000 pending orders including 130,000 in small cars.
Management confidenceHighly optimistic, underscored by aggressive 500k unit capacity expansion.

Growth

Domestic sales rose 17.9% in H2; export volumes hit a record 447,000 units, contributing 49% of India's PV exports.

Outlook

Adding 500,000 units capacity in FY27; targeting 10% volume growth against industry estimates of 5-7%.

Risks

Geopolitical conflicts in West Asia and rare earth supply issues pose logistics and input cost risks.

Source

Earnings Call filed with BSE, NSE: MARUTI. Summary written with AI assistance from the document.

Read the document ↗

Maruti Suzuki India Ltd: key numbers

Share price
₹12,065.00
Market cap
₹3,79,327 Cr
Revenue (annual)
₹1,83,316 Cr
Net profit (annual)
₹14,680 Cr
P/E (TTM)
26.5×Sector 33.6×
Promoter holding
58.65%+0.12% QoQ
FII holding
12.82%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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