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Maruti Suzuki India Limited
(MARUTI)
Maruti Suzuki India Limited (MARUTI) vs. iShares MSCI India ETF (INDA)
Maruti Suzuki India Limited Business Overview & Revenue Model
Maruti Suzuki India Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.56T | 1.53T | 1.42T | 1.18T | 883.30B | 703.72B |
| Gross Profit | 440.97B | 439.52B | 408.13B | 318.38B | 216.42B | 190.32B |
| EBITDA | 192.31B | 201.46B | 186.97B | 130.94B | 57.33B | 53.91B |
| Net Income | 145.33B | 145.00B | 134.88B | 82.64B | 38.80B | 43.89B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.32T | 1.15T | 845.97B | 746.55B | 712.83B |
| Cash, Cash Equivalents and Short-Term Investments | 88.87B | 122.39B | 92.00B | 41.54B | 71.81B | 114.91B |
| Total Debt | 0.00 | 1.17B | 1.19B | 13.19B | 4.25B | 5.41B |
| Total Liabilities | -962.40B | 357.32B | 297.15B | 228.06B | 193.22B | 187.82B |
| Stockholders Equity | 962.40B | 962.40B | 856.36B | 746.00B | 553.34B | 525.01B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 54.96B | 76.01B | 29.04B | -16.19B | 64.86B |
| Operating Cash Flow | 0.00 | 161.36B | 168.01B | 92.51B | 18.41B | 88.56B |
| Investing Cash Flow | 0.00 | -144.56B | -118.65B | -80.36B | -2.39B | -72.91B |
| Financing Cash Flow | 0.00 | -41.55B | -40.62B | -12.13B | -16.07B | -15.45B |
Maruti Suzuki India Limited Technical Analysis
Maruti Suzuki India Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹4.59T | 30.75 | ― | 0.81% | 10.62% | 4.43% | |
76 Outperform | ₹1.95T | 38.24 | ― | 0.96% | 25.37% | 19.52% | |
68 Neutral | ₹4.27T | 26.92 | ― | 3.05% | 20.60% | 19.80% | |
65 Neutral | ₹1.79T | 31.26 | ― | 0.91% | -0.35% | -4.21% | |
64 Neutral | ₹2.68T | 30.16 | ― | 2.31% | 11.83% | 13.79% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | ₹1.29T | 1.37 | ― | 1.00% | -6.87% | 193.82% |
Maruti Suzuki India Limited Corporate Events
Maruti Suzuki India Limited reported record results for the third quarter and the first nine months of FY 2025-26, driven by a sharp recovery in the Indian car market following GST reform, particularly in the small car segment under the 18% GST bracket. In Q3, the company posted its highest-ever quarterly domestic sales of 564,669 units and total sales of 667,769 units, including 103,100 units of exports, alongside record quarterly net sales of INR 475,344 million; quarterly net profit edged up to INR 37,940 million, despite a one-time provision of INR 5,939 million related to new labour codes. For the April–December period, Maruti Suzuki achieved its highest-ever nine‑month sales volume of 1,746,504 units, with domestic sales of 1,435,945 units and exports of 310,559 units, net sales of INR 1,242,908 million, and net profit of INR 108,549 million, with these results also reflecting the amalgamation of Suzuki Motor Gujarat into the parent company effective April 1, 2025.
Maruti Suzuki India Limited has released an investor presentation detailing its standalone financial results for the quarter and nine months ended 31 December 2025, in line with regulatory disclosure requirements. The filing, submitted to both the National Stock Exchange of India and BSE, underscores the company’s ongoing engagement with capital markets and provides shareholders and analysts with updated financial information relevant for assessing its performance in the current fiscal year.
Maruti Suzuki India Limited’s board has approved the acquisition of land at Khoraj Industrial Estate from the Gujarat Industrial Development Corporation to expand its fully utilized production capacity. The planned capacity addition is up to 1 million units annually, on top of the current capability of about 2.6 million units, with Rs 4,960 crore earmarked for land acquisition, development and preparatory activities, to be financed through a mix of internal accruals and external borrowings; detailed phasing, timelines and total investment for the new capacity will be finalized later, and the move is aimed at meeting growing market demand, including exports.
Maruti Suzuki India Limited has notified stock exchanges that it will hold a series of meetings with investor groups on 5, 6 and 7 January 2026, in line with regulatory disclosure requirements. The scheduled interactions underscore the company’s ongoing engagement with the investment community, providing a forum for dialogue that can influence market perceptions and support transparency around its business and strategic outlook.
Maruti Suzuki India Limited has disclosed that it received an adjudication order from the West Bengal GST Authority relating to the availment of GST credit for the period from April 2018 to March 2023. The order raises a tax demand of Rs 4.33 million along with an equivalent penalty of Rs 4.33 million, but the company has stated that this will not have any major impact on its financial, operational or other activities, and it plans to challenge the order by filing an appeal with the first appellate authority.
Maruti Suzuki India Limited has informed the exchanges about the ongoing legal proceedings related to the adjourned hearings before the National Company Law Appellate Tribunal (NCLAT). These repeated adjournments, spanning several years, continue to delay resolution of the matter, which could have implications for the company’s regulatory standing and operational focus.
Maruti Suzuki India Limited has announced a significant step towards electric mobility by launching a comprehensive digital platform for electric vehicle (EV) charging. The company has partnered with 13 leading Charge Point Operators to create a seamless charging experience across India, with plans to establish over 100,000 public charging points by 2030. This initiative marks Maruti Suzuki’s commitment to enhancing customer confidence in EVs and aligns with its global vision to expand its electric vehicle offerings.
Maruti Suzuki India Limited has announced the completion of the amalgamation of its wholly-owned subsidiary, Suzuki Motor Gujarat Private Limited, into the parent company. This strategic move, effective from December 1, 2025, includes an increase in the authorized share capital by INR 150 billion and modifications to the company’s Memorandum of Association. The amalgamation is expected to streamline operations and enhance Maruti Suzuki’s market positioning, providing technical support and specialized after-sales services to customers both in India and abroad.
Maruti Suzuki India Limited has received an upgrade in its ESG rating from MSCI ESG Research LLC, moving from a B rating in 2024 to a BB rating in 2025. This improvement in the ESG rating reflects positively on the company’s commitment to environmental, social, and governance practices, potentially enhancing its reputation and appeal among environmentally conscious investors and stakeholders.
Maruti Suzuki India Limited reported its production volume for October 2025, showing an increase in total passenger vehicle production to 188,624 units from 173,662 units in the previous year. This growth indicates a positive trend in the company’s manufacturing capabilities and market demand, potentially strengthening its position in the automotive industry.