Don’t Trade in the Dark—Get Your Pre-Market Report Every Day.Join Now
Search stocks
Maruti Suzuki India Ltd

| Standalone Audited Financial Results for the Quarter and Year Ended March 31, 2026

Report Source

⬤28th Apr 26

Summary : Maruti Suzuki reports strong financial performance with increased revenue and profit, and higher dividend, despite regulatory uncertainties.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Standalone Cost of materials consumed: 1,116,633 million INR (FY26), 873,183 million INR (FY25).
  2. Consolidated Cost of materials consumed: 1,116,635 million INR (FY26), 873,183 million INR (FY25).
  3. Standalone Sale of products: 1,743,695 million INR (FY26), 1,450,980 million INR (FY25).
  4. Consolidated Sale of products: 1,743,820 million INR (FY26), 1,451,099 million INR (FY25).
  5. Standalone Net cash from operating activities: 190,631 million INR (FY26), 161,314 million INR (FY25).
  6. Consolidated Net cash from operating activities: 190,999 million INR (FY26), 161,800 million INR (FY25).
  7. Standalone Net cash outflow from investing activities: (146,960) million INR (FY26), (144,523) million INR (FY25).
  8. Consolidated Net cash outflow from investing activities: (147,335) million INR (FY26), (144,999) million INR (FY25).
  9. Standalone Total Assets: 1,467,422 million INR (FY26), 1,291,328 million INR (FY25).
  10. Consolidated Total Assets: 1,488,810 million INR (FY26), 1,310,163 million INR (FY25).
  11. Amalgamation of Suzuki Motor Gujarat Private Limited (subsidiary).
  12. Consolidated results include 2 subsidiaries, 14 associates, and 3 joint ventures.
  13. Standalone results reflect the company only.

Corporate Overview

  1. Uncertainty in estimating Extended Producer Responsibility (EPR) obligations.
  2. Potential additional accounting impact from new Labour Codes.
  3. Primarily manufacturing, purchase, and sale of motor vehicles, components, and spare parts.
  4. Other activities include engineering, ancillary services, pre-owned car sales, fleet management, and car financing.
  5. Factual and compliant, reporting financial results and board decisions.
  6. Main revenue from automobiles; other activities not financially material but generate demand.

Risk Factors

  1. EPR obligations estimation remains uncertain.
  2. New Labour Codes may impact accounting.
  3. Reliance on unaudited associate financial data.
  4. Cash and cash equivalents decreased.

Key Drivers

  1. Revenue from operations significantly increased.
  2. Profit for the period showed growth.
  3. Higher dividend recommended per share.
  4. Unmodified audit opinion received.

Auditor’s Report

  1. Unmodified opinion on standalone and consolidated financial results.
  2. Inability to reliably estimate Extended Producer Responsibility (EPR) obligations.
  3. Scheme of Amalgamation of Suzuki Motor Gujarat Private Limited.

Board Commentary

  1. Board recommended INR 140 per share for FY 2025-26.
  2. Dividend payment date is 9th September 2026.
  3. Record date for dividend is 7th August 2026.
  4. Inability to reliably estimate EPR obligations.
  5. Accounting impact from new Labour Codes.
  6. New Labour Codes notified by Government of India.
  7. Extended Producer Responsibility (EPR) Rules came into effect.

Corporate Governance

  1. Auditors complied with ethical requirements and independence standards.
  2. Audit Committee reviewed and approved financial results.

Management Discussion & Analysis

Future Strategy

  1. Monitoring finalization of Labour Codes and EPR implementation framework.

Operational Focus Areas

  1. Ensuring compliance with new Labour Codes.
  2. Evaluating EPR implementation framework for reliable estimates.

Performance Drivers

  1. Increased revenue from operations year-on-year.
  2. Higher profit for the period compared to previous year.
  3. Recommended increased dividend per share.

Risk Control Measures

  1. Monitoring finalization of Central and State Rules for Labour Codes.
  2. Evaluating EPR implementation framework for reliable estimates.

Critical Risks

  1. Inability to reliably estimate Extended Producer Responsibility (EPR) obligations.
  2. Potential additional accounting impact from new Labour Codes.
Maruti Suzuki India Ltd (MARUTI) Quarterly Report Analysis & Insights | Dhanarthi