BSECompany Update1d ago · 27 Oct 2026, 03:44 pm
Investor Presentation on the financial results for the quarter ended on 30th September 2026
Maruti Suzuki India Ltd · 532500
✦ AI SummaryResults
Maruti Suzuki India Ltd has announced its Q2 FY'27 standalone financial results, showing a 26.5% YoY growth in sales volume and a 26.1% YoY growth in net sales. However, the company's operating EBITDA and operating EBIT have declined by 6.3% and 17.1% YoY, respectively, due to adverse commodity prices, foreign exchange movement, and lower non-operating income.
Analysis Scores
Earnings Impact5/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk3/10
Liquidity Impact6/10
Market Sentiment5/10
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Maruti Suzuki India Ltd - 532500 - Announcement under Regulation 30 (LODR)-Investor Presentation
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MSIL: COS: NSE&BSE: 2026/10_13
27th October 2026
Vice President General Manager
National Stock Exchange of India Limited Department of Corporate Services
“Exchange Plaza”, Bandra – Kurla Complex BSE Limited
Bandra (E) Phiroze Jeejeebhoy Towers
Mumbai – 400 051 Dalal Street, Mumbai – 400 001
Sub: Investor Presentation on the financial results for the quarter ended 30th September 2026
Dear Sir(s),
Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please
find enclosed herewith the investor presentation on financial results for the quarter ended
30th September 2026.
Kindly take the same on record.
Thanking You,
Yours truly,
For Maruti Suzuki India Limited
Sanjeev Grover
Executive Officer & Company Secretary
Maruti Suzuki India Limited
Q2 FY’27 and H1 FY’27 Standalone Financial Results
27th October 2026
Safe Harbour
This presentation might contain forward looking statements which involve a number of risks, uncertainties
and other factors that could cause the actual results to differ materially from those in the forward-looking
statements. The Company undertakes no obligation to update these to reflect the events or circumstances
thereof. Secondly, these statements should be understood in conjunction with the risks the company faces.
Contents
1. Q2 FY’27 w.r.t. Q2 FY’26
Ratio Comparison
2. Q2 FY’27 w.r.t. Q1 FY’27
Ratio Comparison
3. H1 FY’27 w.r.t. H1 FY’26
Ratio Comparison
4. Sales Volume
Note: Suzuki Motor Gujarat Private Limited (SMG), a wholly owned subsidiary of Maruti Suzuki India Limited (MSIL),
amalgamated with MSIL starting December 1, 2025. Since the appointed date as per the Scheme of amalgamation is
April 1, 2025, the financial statements for the relevant periods have been restated for comparison purpose.
1.All figures in the presentation are in INR million except the sales volume and the ratios
2. Due to rounding-off, ratios may beapproximate
Q2 FY’27
w.r.t.
Q2 FY’26
Highlights of Q2 FY’27 w.r.t. Q2 FY’26
*All figures except sales volume are in INR million
Q2 FY’27 Q2 FY’26
Sales Volume 696,654 550,874 26.5%
Net Sales 506,155 401,358 26.1%
Op. EBITDA 47,633 50,848 -6.3%
Op. EBIT 28,037 33,820 -17.1%
PBT 31,658 42,909 -26.2%
PAT 24,149 33,028 -26.9%
Key Financial Ratios (% of Net Sales)
Change
Parameter Q2 FY’27 Q2 FY’26
(bps)
79.9 75.7 420
Material Cost
4.6 5.1 -50
Employee Cost
11.5 12.0 -50
Other Expenses
5.4 5.5 -10
Other Operating Income
9.4 12.7 -330
Op. EBITDA
3.9 4.2 -40
Depreciation
5.5 8.4 -290
Op. EBIT
0.1 0.1 -
Interest Expense
0.8 2.4 -160
Non-Operating Income
6.3 10.7 -440
4.8 8.2 -340
Red color denotes adverse movement.
Green color denotes favorable movement.
Financial Analysis of Q2 FY’27 w.r.t. Q2 FY’26
Key reasons for margin movement
Negative Factors
Adverse commodity prices in the context of West Asia conflict
Adverse foreign exchange movement
Lower non-operating income due to mark-to-market losses on invested surplus
Positive Factors
Improved realization
Favourable operating leverage
Cost reduction efforts
Q2 FY’27
w.r.t.
Q1 FY’27
Highlights of Q2 FY’27 w.r.t. Q1 FY’27
*All figures except sales volume are in INR million
Q2 FY’27 Q1 FY’27
Sales Volume 696,654 682,724 2.0%
Net Sales 506,155 499,591 1.3%
Op. EBITDA 47,633 43,111 10.5%
Op. EBIT 28,037 25,311 10.8%
PBT 31,658 43,413 -27.1%
PAT 24,149 33,521 -28.0%
Key Financial Ratios (% of Net Sales)
Parameter Q2 FY’27 Q1 FY’27 Change (bps)
79.9 80.5 -60
Material Cost
4.6 4.9 -30
Employee Cost
11.5 11.0 50
Other Expenses
5.4 5.0 40
Other Operating Income
9.4 8.6 80
Op. EBITDA
3.9 3.6 30
Depreciation
5.5 5.1 40
Op. EBIT
0.1 0.1 -
Interest Expense
0.8 3.7 -290
Non-Operating Income
6.3 8.7 -240
4.8 6.7 -190
Red color denotes adverse movement.
Green color denotes favorable movement.
Financial Analysis of Q2 FY’27 w.r.t. Q1 FY’27
Key reasons for margin movement
Negative Factors
Adverse commodity prices in the context of West Asia conflict
Adverse foreign exchange movement
Higher manufacturing overheads
Higher depreciation expense due to new facility and new model dies
Lower non-operating income due to mark-to-market losses on invested surplus
Positive Factors
Improved realization
Favourable Fixed Cost Incidence (FCI) due to inventory accretion
Cost reduction efforts
H1 FY’27
w.r.t.
H1 FY’26
Highlights of H1 FY’27 w.r.t. H1FY’26
*All figures except sales volume are in INR million
H1 FY’27 H1 FY’26
Sales Volume 1,379,378 1,078,735 27.9%
Net Sales 1,005,746 767,564 31.0%
Op. EBITDA 91,750 97,054 -5.5%
Op. EBIT 54,354 64,469 -15.7%
PBT 75,071 91,969 -18.4%
PAT 57,670 70,609 -18.3%
Key Financial Ratios (% of Net Sales)
Parameter H1 FY’27 H1 FY’26 Change (bps)
80.2 75.1 510
Material Cost
4.8 5.3 -50
Employee Cost
11.1 12.3 -120
Other Expenses
5.2 5.4 -20
Other Operating Income
9.1 12.6 -350
Op. EBITDA
3.7 4.2 -50
Depreciation
5.4 8.4 -300
Op. EBIT
0.1 0.1 -
Interest Expense
2.2 3.7 -150
Non-Operating Income
7.5 12.0 -450
5.7 9.2 -350
Red color denotes adverse movement.
Green color denotes favorable movement.
Sales Volumes
selaS
latoT
Q2 FY’27 H1 FY’27
Market
% to Total % to Total
Number YoY Growth % Number YoY Growth %
sales sales
Domestic 588,535 33.6% 84.5% 1,146,523 31.6% 83.1%
Exports 108,119 -2.1% 15.5% 232,855 12.2% 16.9%
Total Sales 696,654 26.5% 100% 1,379,378 27.9% 100%
selaS
citsemoD
Q2 FY’27 H1 FY’27
Segments
% to Domestic % to Domestic
Number YoY Growth % Number YoY Growth %
sales sales
Passenger cars: Mini+
281,308 31.9% 47.8% 551,094 33.8% 48.1%
Compact+ Mid-size
UVs 236,807 52.3% 40.2% 455,692 43.6% 39.7%
Vans 36,897 11.3% 6.3% 73,454 10.8% 6.4%
LCV 10,441 23.5% 1.8% 20,020 18.0% 1.8%
Sales to other OEM 23,082 -23.2% 3.9% 46,263 -21.4% 4.0%
Domestic sales 588,535 33.6% 100.0% 1,146,523 31.6% 100.0%
Thank You