Maruti Suzuki India Ltd

₹ 16,809 -2.79%

07 Jan

🔗 Website | BSE: 532500 | NSE: MARUTI

Market Cap5,28,389

Current Price16,809

High / Low17,372

Stock P/E37.1

Book Value3,098

Dividend Yield0.80

ROCE21.7

ROE15.6

ABOUT

The Company was established in 1981. A joint venture agreement was signed between the Government of India and Suzuki MotorCorporation (SMC), Japan in 1982. The Company became a subsidiary of SMC in 2002.It is the market leader in passenger vehicle segment in India. In terms of production volume and sales, the Company is now SMC’s largest subsidiary. SMC currently holds 56.28% of its equity stake.The principal activities of the Company are manufacturing, purchase and sale of motor vehicles, components and spare parts.

Stock Analysis

Description

Maruti Suzuki India Limited is the largest passenger vehicle manufacturer in India, holding a dominant market share. It is a subsidiary of Suzuki Motor Corporation, Japan, and is known for its extensive sales and service network.

Key Growth Triggers

Significant expansion of its export business with the global launch of the VICTORIS SUV ('Across') and the e VITARA BEV.
Continued strong domestic sales, supported by new product introductions and a comprehensive vehicle portfolio.
Planned large-scale capacity expansion in Gujarat to cater to growing demand.
Strategic collaborations, such as with IOCL, to enhance customer accessibility and service touchpoints.

Order Book

The company has demonstrated consistently strong export volumes, with a significant YoY increase in CY2025. The successful launch and global rollout of the VICTORIS SUV are expected to further boost export order flow.

Key Red Flags

Ongoing legal proceedings related to a Competition Commission of India (CCI) order, though the company maintains it will not have a significant financial impact.

Key Dates To Watch

Maruti Suzuki India Limited's Board meeting to consider Q3 FY26 results is scheduled for January 28, 2026.

Peer Comparison

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Maruti Suzuki	16809.00	37.10	528389.14	0.80	3293.10	7.30	42100.80	13.17	21.67	159680.30	10.75	14240.90	3293.10	5.43	11.79	0.00
2.	M & M	3748.80	32.76	466284.94	0.67	3963.75	15.85	46105.67	21.57	13.93	175704.22	18.95	14232.39	3673.32	5.63	5.51	1.53
3.	Hyundai Motor I	2362.00	34.19	191880.62	0.89	1570.25	17.38	17061.03	1.10	54.25	66889.41	13.20	5612.65	1570.25	11.30	19.97	0.05
4.	Tata Motors PVeh	363.35	9.91	133797.51	1.65	76248.00	-214.83	72349.00	-13.52	19.97	392137.00	9.18	13507.54	-3412.33	1.21	7.65	0.61
5.	Force Motors	20655.00	33.19	27222.41	0.19	350.70	159.72	2081.40	7.22	29.99	8624.15	14.46	820.18	350.67	7.76	11.53	0.00
6.	Olectra Greentec	1215.40	69.83	9979.84	0.03	49.43	4.18	656.62	25.39	20.52	1968.13	13.68	142.91	49.55	8.89	7.46	0.33
7.	Mercury EV-Tech	36.62	78.88	695.68	0.00	1.72	7.50	34.01	74.59	5.16	122.86	8.41	8.82	1.72	2.48	3.17	0.03

Quarterly Results

Figures in Cr.

	Dec 2022	Dec 2023	Dec 2024	Jun 2023	Jun 2024	Jun 2025	Mar 2023	Mar 2024	Mar 2025	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales	29,044	33,309	38,492	32,327	35,531	38,414	32,048	38,235	40,674	29,931	37,062	37,203	42,101
YOY Sales Growth %	24.94%	14.68%	15.56%	21.99%	9.91%	8.11%	19.85%	19.31%	6.38%	45.73%	23.83%	0.38%	13.17%
Expenses	26,211	29,401	34,022	29,344	31,029	34,418	28,698	33,550	36,409	27,162	32,278	32,786	37,667
Material Cost %	73%	71%	72%	73%	70%	72%	73%	71%	72%	73%	71%	72%	73%
Employee Cost %	4%	4%	4%	5%	4%	5%	3%	4%	4%	4%	4%	4%	4%
Operating Profit	2,833	3,908	4,470	2,983	4,502	3,995	3,350	4,685	4,265	2,769	4,784	4,417	4,434
OPM %	10%	12%	12%	9%	13%	10%	10%	12%	10%	9%	13%	12%	11%
Other Income	861	933	985	1,001	975	1,823	743	1,118	1,447	612	844	1,475	913
Exceptional items	—	—	—	—	—	—	—	—	—	—	—	—	—
Other income normal	861	933	985	1,001	975	1,823	743	1,118	1,447	612	844	1,475	913
Interest	30	35	48	46	57	47	99	76	47	30	35	40	57
Depreciation	710	752	805	748	731	938	739	729	872	723	794	751	1,039
Profit before tax	2,954	4,054	4,602	3,190	4,689	4,834	3,255	4,998	4,792	2,628	4,799	5,100	4,251
Tax %	20%	23%	23%	22%	22%	23%	19%	22%	23%	22%	23%	40%	23%
Net Profit	2,351	3,130	3,525	2,485	3,650	3,712	2,624	3,878	3,711	2,062	3,716	3,069	3,293
EPS in Rs	77.84	99.55	112.12	82.27	116.09	118.06	86.85	123.34	118.04	68.24	123.03	97.62	104.74

Profit & Loss

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	43,792	49,971	57,538	68,035	79,763	86,020	75,611	70,332	88,296	1,17,523	1,40,933	1,51,900	1,59,680
Sales Growth %	—	—	—	—	—	—	—	—	—	—	—	—	—
Expenses	38,590	43,209	48,518	57,620	67,647	74,968	68,266	64,928	82,549	1,06,504	1,24,483	1,34,074	1,42,516
Material Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Raw material cost	—	—	—	—	—	—	—	—	—	—	—	—	—
Change in inventory	—	—	—	—	—	—	—	—	—	—	—	—	—
Manufacturing Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Employee Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating Profit	5,202	6,761	9,020	10,415	12,116	11,052	7,345	5,404	5,747	11,019	16,449	17,826	17,164
OPM %	12%	14%	16%	15%	15%	13%	10%	8%	7%	9%	12%	12%	11%
Other Income	717	783	1,326	2,237	1,991	2,508	3,378	2,887	1,748	2,150	3,807	4,710	5,168
Exceptional items	—	—	—	—	—	—	—	—	—	—	—	—	—
Other income normal	—	—	—	—	—	—	—	—	—	—	—	—	—
Interest	176	206	82	89	346	76	133	101	126	187	193	193	199
Depreciation	2,084	2,470	2,820	2,602	2,758	3,019	3,526	3,032	2,786	2,823	3,022	3,159	3,654
Profit before tax	3,658	4,868	7,444	9,960	11,003	10,466	7,065	5,159	4,582	10,159	17,040	19,183	18,479
Tax %	24%	24%	28%	26%	30%	28%	20%	18%	18%	21%	22%	27%	—
Net Profit	2,783	3,711	5,364	7,350	7,722	7,501	5,651	4,230	3,766	8,049	13,209	13,955	14,241
Exceptional items AT	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit excl Excep	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit for PE	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit for EPS	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS in Rs	92.13	122.85	177.58	243.32	255.62	248.3	187.06	140.02	124.68	266.46	420.14	443.86	452.96
Dividend Payout %	13%	20%	20%	31%	31%	32%	32%	32%	48%	34%	30%	30%	—

Balance Sheet

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	151	151	151	151	151	151	151	151	151	151	157	157	157
Reserves	20,827	23,553	29,733	36,280	41,606	45,990	48,286	51,216	53,935	60,231	83,825	93,890	97,256
Borrowings	1,824	516	231	484	111	150	171	531	419	1,247	119	76	92
Long term Borrowings	460	145	0	0	0	0	0	0	0	0	0	0	0
Short term Borrowings	1,225	35	77	484	111	150	106	489	382	1,216	33	0	0
Lease Liabilities	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Borrowings	139	335	154	0	0	0	0	0	0	0	0	0	—
Other Liabilities	7,798	9,330	11,825	14,336	17,502	16,641	13,944	18,170	18,889	21,549	26,184	31,497	34,131
Trade Payables	4,898	5,418	7,407	8,367	10,497	9,633	7,494	10,162	9,761	11,780	14,582	17,421	18,712
Advance from Customers	207	425	504	939	1,151	416	467	1,018	1,125	1,456	1,460	1,130	—
Other liability items	2,693	3,486	3,913	5,029	5,854	6,592	5,984	6,990	8,004	8,313	10,142	12,946	15,419
Total Liabilities	30,600	33,549	41,940	51,251	59,370	62,932	62,552	70,067	73,394	83,179	1,10,285	1,25,620	1,31,636
Fixed Assets	10,790	12,259	12,510	13,293	13,359	15,408	15,781	14,957	13,717	17,805	18,495	24,707	26,699
Land	1,625	2,095	1,898	1,956	3,193	3,894	4,552	4,549	4,575	6,813	6,892	6,917	—
Building	1,689	1,812	1,503	1,828	1,976	2,326	2,682	2,817	2,942	3,232	3,560	6,065	—
Plant Machinery	18,556	21,459	11,159	13,883	15,077	18,544	20,768	22,255	22,704	26,167	28,795	34,763	—
Equipments	—	—	—	—	—	—	—	—	—	—	—	—	—
Furniture & fittings	—	—	—	—	—	—	—	—	—	—	—	—	—
Vehicles	87	102	103	130	161	183	205	173	248	282	330	453	—
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	890
Other fixed assets	450	669	468	589	640	907	1,008	967	1,254	1,660	1,780	1,993	—
Gross Block	22,702	26,462	15,322	18,660	21,424	26,329	29,797	31,455	32,489	39,078	42,426	51,410	—
Accumulated Depreciation	11,911	14,202	2,812	5,367	8,065	10,922	14,016	16,498	18,772	21,273	23,931	26,704	—
CWIP	2,621	1,883	1,007	1,252	2,126	1,600	1,337	1,490	2,929	2,897	6,534	5,759	6,123
Investments	10,118	12,814	19,932	28,481	35,290	36,515	36,468	41,787	40,763	47,756	68,514	74,506	75,142
Other Assets	7,070	6,593	8,491	8,225	8,595	9,409	8,966	11,834	15,984	14,720	16,742	20,648	23,673
Inventories	1,706	2,686	3,132	3,262	3,161	3,326	3,215	3,050	3,533	4,284	4,120	5,123	7,168
Trade receivables	1,414	1,070	1,322	1,199	1,462	2,310	2,127	1,277	2,030	3,296	4,601	6,538	7,349
Receivables under 6m	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables over 6m	—	—	—	—	—	—	—	—	—	—	—	—	—
Prow for Doubtful	—	—	—	—	—	—	—	—	—	—	—	—	—
Cash Equivalents	630	18	39	14	71	179	21	3,036	3,036	38	460	446	660
Loans & Advances	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Assets items	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Assets	30,600	33,549	41,940	51,251	59,370	62,932	62,552	70,067	73,394	83,179	1,10,285	1,25,620	1,31,636

Cash Flows

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	4,904	6,321	8,484	10,279	11,785	6,593	3,405	8,839	1,791	9,228	15,167	14,012
Profit from operations	4,979	6,616	8,931	10,407	12,034	11,056	7,407	5,514	5,778	11,081	16,445	17,899
Receivables	56	344	-205	124	-262	-852	189	697	-763	-1,257	-1,310	-1,963
Inventory	135	-980	-446	-130	101	-165	111	165	-483	-751	164	-1,003
Payables	831	718	1,792	978	2,128	-860	-2,155	2,678	-394	2,007	2,811	2,835
Loans Advances	-542	21	-1	1	-0	-13	-1	-6	-8	1	-3	-10
Other WC items	276	643	324	1,221	839	570	-710	801	-1,163	379	615	36
Working capital changes	756	746	1,463	2,194	2,806	-1,320	-2,566	4,335	-2,810	379	2,278	-105
Direct taxes	-832	-1,041	-1,910	-2,321	-3,055	-3,143	-1,436	-1,011	-1,177	-2,231	-3,556	-3,782
Cash from Investing Activity	-4,893	-4,410	-7,227	-9,178	-8,282	-3,538	-464	-7,284	-189	-8,018	-10,683	-10,242
Fixed assets purchased	-3,498	-3,157	-2,466	-3,389	-3,892	-4,870	-3,436	-2,370	-3,459	-6,346	-7,008	-8,733
Fixed assets sold	6	8	12	16	26	170	37	42	136	99	44	33
Investments purchased	-12,924	-17,132	-12,005	-17,716	-47,069	-52,957	-44,205	-44,869	-60,525	-66,597	-65,816	-61,220
Investments sold	10,335	15,104	7,334	11,840	42,564	53,986	46,969	42,920	63,579	61,605	61,933	59,844
Interest received	195	152	66	36	68	124	96	67	174	194	98	147
Redeemp Cnce of Shares	—	—	—	—	—	—	—	—	—	—	—	—
Acquisition of companies	0	0	0	0	0	-0	-15	-87	-146	0	0	0
Other investing items	940	560	-179	0	0	0	0	-3,000	0	3,000	0	-365
Cash from Financing Activity	-66	-1,962	-1,236	-1,129	-3,446	-2,948	-3,100	-1,541	-1,602	-1,208	-4,062	-4,149
Redemption of debentures	—	—	—	—	—	—	—	—	—	—	—	—
Proceeds from borrowings	1,225	35	77	484	111	39	0	382	0	834	0	0
Repayment of borrowings	-846	-1,364	-313	-231	-484	0	-43	0	-107	0	-1,183	-33
Interest paid fin	-162	-210	-92	-110	-346	-73	-134	-101	-129	-185	-147	-166
Dividends paid	-242	-362	-755	-1,057	-2,266	-2,417	-2,417	-1,812	-1,359	-1,812	-2,719	-3,930
Financial liabilities	0	0	0	0	0	0	-9	-10	-7	-44	-13	-20
Other financing items	-41	-62	-154	-215	-461	-497	-497	0	0	0	0	0
Net Cash Flow	-55	-51	21	-28	57	107	-159	14	-0	1	422	-378

Ratios

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	12	8	8	6	7	10	10	7	8	10	12	16
Inventory Days	20	28	30	25	21	20	22	22	20	18	15	17
Days Payable	57	56	70	65	70	59	51	73	54	50	53	59
Cash Conversion Cycle	-25	-21	-32	-33	-42	-29	-19	-44	-26	-21	-26	-26
Working Capital Days	-28	-27	-27	-36	-40	-30	-20	-47	-30	-27	-25	-23
ROCE %	16%	19%	23%	24%	24%	19%	9%	5%	6%	15%	19%	22%

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	56.37%	56.48%	56.48%	56.48%	58.19%	58.19%	58.19%	58.19%	58.28%	58.28%	58.28%	58.28%
ASAHIKAWA Suzuki Motor Sales INC_	—	—	—	—	—	—	—	—	—	—	0	0
Cambodia Suzuki Motor Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Canley Traders Corporation	—	—	—	—	—	—	—	—	—	—	0	0
Changzhou Haojue Suzuki Motercycles Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
ELIIY Power Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Hamana Parts Industry Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
ISE-Suzuki Egg India Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
J J Impex (Delhi) Limited	—	—	—	—	—	—	—	—	—	—	0	0
Jinan Qingqi Suzuki Motorcycle Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Krishna Maruti Limited	—	—	—	—	—	—	—	—	—	—	0	0
Magyar Suzuki Corporation Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Magyar Toyo Seat KFT_	—	—	—	—	—	—	—	—	—	—	0	0
Marelli Powertrain India Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
NBV Community Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Next Bharat Ventures IFSC Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
PT Suzuki Finance Indonesia	—	—	—	—	—	—	—	—	—	—	0	0
PT Suzuki Indomobil Motor	—	—	—	—	—	—	—	—	—	—	0	0
PT_ Bellsonica Indonesia	—	—	—	—	—	—	—	—	—	—	0	0
Pak Suzuki Motor Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
RT_WORKS Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	—	0
Snic Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki (Myanmar) Motor Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Akita Auto Parts Mfg_ Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Algeria Automobile Manufacturing	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Australia Pty_ Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Austria Automobile Handels G_m_b_H_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Auto Parts Mfg_ Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Auto South Africa (Pty) Ltd	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Business Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Canada INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Consultant Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Deutschland GmbH	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Digital Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Engineering Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Finance Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki France S_A_S_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki GB PLC	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Global Ventures, L_P_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Italia S_P_A_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Jidosha Kogyo Kabushiki Kaisha	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Marine Co_,Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor (China) Investment Co_,Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor (Thailand) Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Corporation	56.37	56.48	56.48	56.48	58.19	58.19	58.19	58.19	58.28	58.28	58.28	58.28
Suzuki Motor Gujarat Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Iberica, S_A_U_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Poland SP_ Z_O_O_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor RUS, LLC	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales AOMORI INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales CHIBA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales CHUBU INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales FUKUOKA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales FUKUSHIMA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales GUNMA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales HAMAMATSU INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales HIROSHIMA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales HOKKAIDO INC	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales HOKURIKU INC	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales HYOGO INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales IBARAKI INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales IWATE INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales KAGAWA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales KAGOSHIMA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales KANAGAWA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales KANSAI INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales KANTO INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales KEIYO INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales KINKI INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales KOCHI INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales KUMAMOTO INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales KYOTO INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales MATSUYAMA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales MIE INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales MINAMI TOKYO INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales MIYAGI INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales MIYAZAKI INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales NAGANO INC	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales NAGASAKI INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales NANSHIN INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales NARA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales NIIGATA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales NISHISAITAMA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales OHITA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales OKINAWA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales SAGA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales SAITAMA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales SHIGA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales SHIMANE INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales SHIZUOKA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales SYONAN INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales TOCHIGI INC	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales TOKAI INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales TOKUSHIMA INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales TOKYO INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales TOTTORI INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales TOUHOKU	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales WAKAYAMA INC	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales YAMAGATA	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor Sales YAMAGUCHI INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor de Colombia S_A_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor de Mexico, S_A_ de C_V_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motor of America, INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motorcycle India Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Motorcycle Sales INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki New Zealand Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki OKAYAMA Motor Sales INC_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Philippines Inc_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki R&D Center India Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Schweiz AG	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Support Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Thilawa Motor Co_,Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Toyama Auto Parts Mfg_ Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
Suzuki Transportation & Packing Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
TDS Lithium-Ion Battery Gujarat Private Limited	—	—	—	—	—	—	—	—	—	—	0	0
Taiwan Suzuki Automobile Corporation	—	—	—	—	—	—	—	—	—	—	0	0
Thai Suzuki Motor Co_, Ltd_	—	—	—	—	—	—	—	—	—	—	0	0
True Value Solutions Limited	—	—	—	—	—	—	—	—	—	—	0	0
Vietnam Suzuki Corporation	—	—	—	—	—	—	—	—	—	—	0	0
FIIs	21.49%	21.11%	21.87%	21.85%	20.6%	19.64%	18.98%	17.68%	15.47%	14.96%	15.2%	15.78%
Europacific Growth Fund	—	—	—	—	1.1	1.16	1.14	1.13	1.01	—	—	—
Government Pension Fund Global	1.02	—	—	—	—	—	—	—	—	—	—	—
Kuwait Investment Authority Fund 223	—	1.08	1.1	1.15	—	—	—	—	—	—	—	—
Kuwait Investment Authority Fund 601	—	—	—	—	1.09	—	—	—	—	—	—	—
Kuwait Investment Authority Fund 604	1.14	—	—	—	—	—	—	—	—	—	—	—
DIIs	18.19%	18.57%	18.07%	18.15%	17.64%	18.86%	19.37%	20.75%	22.89%	23.56%	23.25%	22.55%
Hdfc Large And Mid Cap Fund	—	—	—	—	—	—	—	1.64	—	—	—	—
Hdfc Mutual Fund - Hdfc Nifty 50 Etf	—	—	—	—	—	—	—	—	1.99	—	—	—
Hdfc Mutual Fund - Hdfc Nifty Top 20 Equal Weight	—	—	—	—	—	—	—	—	—	2.12	—	—
Hdfc Mutual Fund - Hdfc S&P Bse 500 Etf	—	—	—	—	—	—	1.18	—	—	—	—	—
Hdfc Mutual Fund-Hdfc Arbitrage Fund	—	—	—	—	—	—	—	—	—	—	2.07	—
Hdfc Trustee Company Limited-Hdfc Flexi Cap Fund	—	—	—	—	—	—	—	—	—	—	—	2.13
Icici Prudential Consumption Etf	—	2.82	—	—	—	3.78	—	—	—	—	—	—
Icici Prudential Equity Savings Fund	—	—	2.79	—	—	—	—	—	—	—	—	—
Icici Prudential Flexicap Fund	2.3	—	—	3.27	—	—	—	—	—	—	—	—
Icici Prudential Innovation Fund	—	—	—	—	3.57	—	—	—	—	—	—	—
Icici Prudential Mnc Fund	—	—	—	—	—	—	—	4.4	—	—	—	—
Icici Prudential Mutual Fund - Icici Prudential Eq	—	—	—	—	—	—	—	—	—	—	4.46	3.46
Icici Prudential Nifty 50 Index Fund	—	—	—	—	—	—	—	—	5.16	—	—	—
Icici Prudential Sensex Etf	—	—	—	—	—	—	3.91	—	—	—	—	—
Icici Prudential Transportation And Logistics Fund	—	—	—	—	—	—	—	—	—	4.82	—	—
Kotak Bluechip Fund	—	—	—	—	—	—	—	1.03	—	—	1.1	—
Kotak Debt Hybrid	—	—	1.14	—	—	—	—	—	—	—	—	—
Kotak Equity Hybrid	1.04	—	—	—	—	—	—	—	—	—	—	—
Kotak Esg Opportunities Fund	—	—	—	—	—	1.38	—	—	—	—	—	—
Kotak India Growth Fund Series 4	—	—	—	—	1.44	—	—	—	—	—	—	—
Kotak Mahindra Trustee Co Ltd A/C Kotak Business C	—	—	—	—	—	—	—	—	—	1.18	—	—
Kotak Mahindra Trustee Co Ltd A/C Kotak Mnc Fund	—	—	—	—	—	—	—	—	—	—	—	1.08
Kotak Mahindra Trustee Co Ltd A/C Kotak Multi Asse	—	—	—	1.31	—	—	—	—	1.26	—	—	—
Kotak Pioneer Fund	—	1.06	—	—	—	—	—	—	—	—	—	—
Kotak Sensex Etf	—	—	—	—	—	—	1.28	—	—	—	—	—
Lici Asm Non Par	—	—	—	—	—	—	—	3.51	—	—	—	—
Lici Fortune Plus Growth Fund	—	—	—	—	—	—	—	—	—	4.75	—	—
Lici Index Plus Flexi Smart Growth Fund	—	—	—	—	—	—	—	—	—	—	—	4.53
Lici Jeevan Plus Secured Fund	—	—	—	1.73	—	—	—	—	—	—	—	—
Lici Market Plus 1 Balanced Fund	—	—	3.07	—	—	—	—	—	—	—	—	—
Lici Shareholders Fund - Available For Solvency Ma	—	—	—	—	—	—	2.82	—	—	—	—	—
Lici Ulip-Balanced Fund	2.82	—	—	—	—	—	—	—	—	—	—	—
Lici Ulip-Secured Fund	—	3.1	—	—	—	—	—	—	—	—	—	—
Life Insurance Corporation Of India - Ulif00320091	—	—	—	—	2.04	2.59	—	—	4.36	—	4.93	—
Nps Trust - A/C Lic Pension Fund Scheme - Corporat	—	—	—	—	—	1.14	—	—	—	—	—	—
Nps Trust - A/C Lic Pension Fund Scheme - Nps Tier	—	—	—	—	—	—	—	—	—	—	—	1.08
Nps Trust- A/C Lic Pension Fund Scheme - Atal Pens	—	—	—	—	1.18	—	—	—	—	—	—	—
Nps Trust- A/C Lic Pension Fund Scheme E - Tier I	—	—	—	1.27	—	—	—	—	—	—	—	—
Nps Trust- A/C Uti Retirement Solutions Pension Fu	1.13	1.21	—	—	—	—	1.03	—	—	—	—	—
Nps Trust-A/C Sbi Pension Fund Scheme Tax Saver-Ti	—	—	1.22	—	—	—	—	—	—	—	—	—
Parag Parikh Arbitrage Fund	—	—	—	—	—	—	—	—	—	1.01	—	—
Parag Parikh Flexi Cap Fund	—	—	—	—	—	—	—	1.02	1.02	—	1.01	—
Sbi Arbitrage Opportunities Fund	—	—	—	—	—	—	—	2.27	—	—	2.2	—
Sbi Balanced Advantage Fund	—	—	2.81	—	—	—	—	—	—	—	—	—
Sbi Dividend Yield Fund	—	—	—	—	—	2.01	—	—	—	—	—	—
Sbi Equity Minimum Variance Fund	—	3.04	—	—	—	—	—	—	—	2.3	—	—
Sbi Esg Exclusionary Strategy Fund	—	—	—	—	—	—	—	—	2.33	—	—	2.26
Sbi Long Term Advantage Fund - Series V	2.93	—	—	—	—	—	—	—	—	—	—	—
Sbi Magnum Equity Esg Fund	—	—	—	—	2.25	—	—	—	—	—	—	—
Sbi Nifty 50 Equal Weight Index Fund	—	—	—	—	—	—	2.2	—	—	—	—	—
Sbi Retirement Benefit Fund - Aggressive Plan	—	—	—	2.49	—	—	—	—	—	—	—	—
Uti Conservative Hybrid Fund	—	—	—	—	—	—	—	—	—	—	1.14	—
Uti Nifty 50 Index Fund	—	1.15	1.15	1.15	—	—	—	—	1.11	—	—	—
Uti Nifty India Manufacturing Index Fund	—	—	—	—	—	—	—	—	—	1.13	—	1.05
Uti S & P Bse Low Volatility Index Fund	—	—	—	—	1.01	—	—	—	—	—	—	—
Uti Transportation And Logistics Fund	—	—	—	—	—	1.01	—	—	—	—	—	—
Uti-Mastershare Unit Scheme	1.16	—	—	—	—	—	—	—	—	—	—	—
Government	0.06%	0.06%	0.06%	0.06%	0.06%	0.06%	0.07%	0.07%	0.07%	0.08%	0.08%	0.08%
Public	3.89%	3.78%	3.51%	3.45%	3.5%	3.24%	3.41%	3.31%	3.28%	3.12%	3.18%	3.3%
Others	—	—	—	—	—	—	—	—	—	—	—	—
No. of Shareholders	4,18,288	4,15,127	3,78,323	3,68,608	3,87,767	3,64,375	3,89,314	3,82,573	4,06,570	3,78,893	3,67,608	3,69,205

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Maruti Suzuki Commences Global Exports of VICTORIS SUV ('Across'), Bolstering 'Make for the World' Strategy

16 Jan 2026

Maruti Suzuki India to consider Q3 FY26 financial results on January 28, 2026

15 Jan 2026

Maruti Suzuki Partners with Indian Oil Corporation to Expand Nationwide Service Network

12 Jan 2026

Indian Oil Corporation Ltd (IOCL) Signs MoU with Maruti Suzuki India Ltd (MSIL) to Expand Vehicle Service Network at Fuel Stations

12 Jan 2026

Maruti Suzuki India Limited Board Approves Land Acquisition for 1 Million Unit Capacity Expansion in Gujarat

12 Jan 2026

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Indian Car Wars: Taxi Segment Explodes, Carmakers Vie for Dominance

18 Jan 2026

India Auto Exports Surge 24% on Strong Global Demand

18 Jan 2026

Maruti Suzuki Bets ₹35,000 Crore on Gujarat for 1M Car Output

17 Jan 2026

Maruti Suzuki Invests ₹35,000 Cr for Gujarat Mega Auto Plant

17 Jan 2026

Maruti Suzuki Bets ₹35,000 Cr on Gujarat for Future Growth

17 Jan 2026

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Indian Car Wars: Taxi Segment Explodes, Carmakers Vie for Dominance

18 Jan 2026

India Auto Exports Surge 24% on Strong Global Demand

18 Jan 2026

Maruti Suzuki Commits ₹35K Cr to New Gujarat Plant, 12K Jobs

17 Jan 2026

Indian Markets Snap Losing Streak as IT, Banking Stocks Lead Charge

16 Jan 2026

Maruti Suzuki Ships 'Victoris' SUV to 100 Nations, Eyes Global Market

16 Jan 2026

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Maruti Suzuki Production Volume: December 2025

1 Jan - Dec 2025 production: 211,939 total units; 208,591 passenger; 3,348 Super Carry.

Announcement under Regulation 30 (LODR)-Press Release / Media Release

1 Jan - Dec 2025 sales 217,854; domestic record 182,165; CY2025 total 2,351,139; exports 395,648

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

null

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

28 Dec - Maruti Suzuki scheduled investor meetings on 5–7 January 2026; dates subject to change.

Closure of Trading Window

null

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Maruti Suzuki India Ltd

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