Maruti Suzuki India: FY26 Revenue Hits Record ₹1.87 Lakh Crore, Profit Marginally Up; Call Recording Available

Maruti Suzuki India has reported a record consolidated revenue of ₹1,87,673 crore for the fiscal year ended March 31, 2026. While strong sales volumes fueled this revenue growth, the company’s consolidated net profit for the period stood at ₹14,679.5 crore, showing limited growth amid rising costs.

The company has also announced the availability of its investor call audio recording, held on April 28, 2026. This recording, accessible on the official Maruti Suzuki India website, offers stakeholders detailed management commentary on the company's FY26 financial performance and strategic outlook.

The record revenue was underpinned by strong unit sales, with total sales exceeding 2.4 million units and exports reaching a record 4.48 lakh units in FY2025-26. Maruti Suzuki is also investing heavily in future growth, committing ₹10,397.6 crore in capital expenditure in FY26 and planning ₹14,000 crore for FY27 to expand capacity. The company launched its first EV, the e-Vitara, exported to 44 countries, marking a step towards electrification. The operational structure was also adjusted with the amalgamation of Suzuki Motor Gujarat Private Limited into Maruti Suzuki from April 1, 2025.

Regulatory and Legal Issues: Maruti Suzuki faces ongoing legal challenges. In August 2021, it was fined ₹200 crore by the Competition Commission of India (CCI) over its discount control policy, a decision the company appealed. More recently, in March 2024, the company received a directive from the Office of Commissioner of Customs concerning alleged import violations, with a potential payment of INR 27.87 lakh. Maruti Suzuki plans to appeal this ruling as well.

Competitive Landscape: The company operates in a competitive market against rivals such as Tata Motors, Hyundai Motor India, and Mahindra & Mahindra. Tata Motors, in particular, leads the EV segment with a 71% market share as of January 2025, while Hyundai emphasizes premium features and Mahindra focuses on SUV offerings.

Quarterly Performance: In the fourth quarter of FY2025–2026, Maruti Suzuki reported consolidated revenue from operations of ₹52,462.5 crore and a consolidated net profit of ₹3,659 crore.

Looking Ahead: Investors will be tracking management's commentary on strategies to mitigate rising input costs and improve margins. Key areas to watch include the progress and timeline for capacity expansion, targeting 4 million units by FY 2030-31, updates on the EV roadmap and market penetration, the outlook for domestic demand and exports in FY27, and how the company plans to respond to competitive pressures, especially from EV-focused rivals.