NSEGeneral Updates18h ago · 10 Nov 2026, 11:56 am
General Updates
Maruti Suzuki India Limited · MARUTI
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Maruti Suzuki India Limited has informed the Exchange about Reference to the Financial Results issued by Suzuki Motor Corporation. The company has seen an increase in revenue and profit, but with a decrease in profit margin. The financial results are based on the first six months of FY 2026.
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Earnings Impact6/10
Growth Catalyst4/10
Governance Concern2/10
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Liquidity Impact8/10
Market Sentiment5/10
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Maruti Suzuki India Limited has informed the Exchange about Reference to the Financial Results issued by Suzuki Motor Corporation
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MARUTI\dSsuzurl
MSIL: COS: NSE&BSE: 2026111 04
10th November2026
Vice President General Manager
National Stock Exchange oflndia Limited Department of Corporate Services
"Exchange Plaza", Bandra- Kurla Complex BSE Limited
Bandra (E) Phiroze Jeejeebhoy Towers,
Mumbai-4O0 051 Dalal Street, Mumbai -400 001
Sub: Reference to the Financial Results issued bv Suzuki Motor Corporation
Dear Sir(s),
Please find enclosed herewith a copy of the reference to the Financial Results for first
six months of FY 2026 issued by Suzuki Motor Corporation in Japan.
Kindly take the same on record.
Thanking you,
Yours truly,
For Maruti Suzuki India Limited
Sanjeev Grover
Executive Offrcer & Company Secretary
MARUTI SUZUKI INDIA LIMITED
Registered and Head Ofice:
Maruti Suanki India Limited,
1, Nelson Mandela Road, Vasant Kunj,
Nar Delhi - 11fi)70, India
Tel: 011-46781000
Emall ld : contact@narutl.co.ln, www,marutlsuankl,com
CIN : L34103DL1981PLC011375
<Reference for FY2026 First Six Months>
Nov. 10, 2026
SUZUKI MOTOR CORPORATION
[Consolidated 1/2] <IFRS> (Billions of yen)
2Q Results (July-Sep.) 1H Results (April-Sep.)
2Q of FY2026 1H of FY2026
2Q of 1H of
YoY YoY
FY2025 FY2025
Change Ratio Change Ratio
Revenue 1,466.5 1,713.5 +247.0 +16.8% 2,864.2 3,419.2 +555.0 +19.4%
Domestic 387.9 414.3 +26.4 +6.8% 772.1 809.3 +37.3 +4.8%
Overseas 1,078.6 1,299.2 +220.6 +20.5% 2,092.2 2,609.9 +517.7 +24.7%
Operating Profit 134.3 133.6 -0.8 -0.6% 276.5 291.6 +15.1 +5.5%
(Margin) (9.2%) (7.8%) (9.7%) (8.5%)
Profit before tax 156.5 118.2 -38.3 -24.5% 332.2 401.4 +69.2 +20.8%
(Margin) (10.7%) (6.9%) (11.6%) (11.7%)
90.8 70.1 -20.7 -22.8% 192.8 253.7 +60.9 +31.6%
(Margin) (6.2%) (4.1%) (6.7%) (7.4%)
Increased revenue and profit
External factors Effect of ForEX rates +19.4 Effect of ForEX rates +52.0
Change in price of raw materials -88.6 Change in price of raw materials -151.0
Total -69.2 Total -98.9
Factors other than Change in volume +26.7 Change in volume +70.5
the above Change in mix/price etc. +62.7 Change in mix/price etc. +69.9
Cost reduction +12.4 Cost reduction +23.8
Fixed cost, etc. -32.0 Fixed cost, etc. -36.6
R&D expenses +5.0 R&D expenses +1.6
Depreciation expenses -6.5 Depreciation expenses -15.3
Total +68.4 Total +114.1
Foreign Effect Effect
Exchange Rates USD 147Yen 159Yen +12Yen +2.9 146Yen 159Yen +13Yen +6.3
and Effect on EUR 172Yen 183Yen +11Yen +4.8 168Yen 184Yen +16Yen +16.2
Operating Profit INR 1.70Yen 1.68Yen -0.02Yen +0.3 1.70Yen 1.69Yen -0.01Yen +2.5
Capital Expenditures 87.3 79.7 -7.6 170.0 215.1 +45.1
Depreciation Expenses 53.4 59.8 +6.5 103.8 119.1 +15.3
R&D Expenses 69.6 64.6 -5.0 131.6 130.0 -1.6
Interest-Bearing Debt balance 736.0 763.7 +15.1 *
Operating Activities 201.3 227.1 +25.7 265.3 313.5 +48.2
Investing Activities -96.6 -92.3 +4.3 -124.0 -96.7 +27.3
Financing Activities -34.1 -26.4 +7.7 -68.2 -81.2 -13.0
Cash Balance 930.0 1,098.7 +125.4 *
Revenue 1,330.2 1,547.9 +217.6 +16.4% 2,588.1 3,089.6 +501.5 +19.4%
Operating Profit 117.8 109.9 -7.9 -6.7% 237.3 244.3 +7.0 +3.0%
(Margin) (8.9%) (7.1%) (9.2%) (7.9%)
Revenue 105.1 131.5 +26.4 +25.2% 209.8 255.9 +46.1 +22.0%
Operating Profit 9.8 13.9 +4.1 +42.3% 22.5 28.3 +5.8 +25.8%
(Margin) (9.3%) (10.6%) (10.7%) (11.1%)
Revenue 28.1 31.3 +3.2 +11.3% 60.0 68.1 +8.2 +13.6%
Operating Profit 5.7 8.9 +3.3 +57.8% 14.8 17.5 +2.7 +17.9%
(Margin) (20.2%) (28.6%) (24.7%) (25.7%)
Revenue 3.1 2.8 -0.2 -7.6% 6.3 5.7 -0.7 -11.0%
Operating Profit 1.1 0.8 -0.3 -28.2% 1.9 1.5 -0.4 -19.6%
(Margin) (35.3%) (27.4%) (29.2%) (26.3%)
Revenue 798.1 835.8 +37.7 +4.7% 1,514.5 1,696.0 +181.6 +12.0%
Operating Profit 60.3 66.7 +6.4 +10.6% 124.7 156.9 +32.1 +25.7%
(Margin) (7.6%) (8.0%) (8.2%) (9.2%)
Revenue 178.7 180.7 +2.0 +1.1% 335.4 381.6 +46.2 +13.8%
Operating Profit 4.4 0.6 -3.8 -85.4% 7.0 3.6 -3.4 -48.7%
(Margin) (2.5%) (0.4%) (2.1%) (0.9%)
Revenue 853.5 1,049.8 +196.2 +23.0% 1,636.9 2,076.7 +439.8 +26.9%
Operating Profit 74.1 57.6 -16.6 -22.3% 136.4 111.0 -25.5 -18.7%
(Margin) (8.7%) (5.5%) (8.3%) (5.3%)
Revenue 115.0 130.5 +15.5 +13.5% 224.2 264.9 +40.6 +18.1%
Operating Profit 5.4 12.8 +7.5 +139.3% 10.1 21.6 +11.5 +113.8%
(Margin) (4.7%) (9.8%) (4.5%) (8.2%)
* : compared to the end of FY2025
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PDFBEAR.COM - Free Ver.
<Reference for FY2026 First Six Months>
Nov. 10, 2026
SUZUKI MOTOR CORPORATION
[Consolidated 2/2] <IFRS> (Billions of yen)
Full-year
Change
from
Previous
Change Ratio Forecast
Revenue 6,293.0 6,900.0 +607.0 +9.6%
Domestic 1,598.0 1,600.0 +2.0 +0.1%
Overseas 4,695.0 5,300.0 +605.0 +12.9%
Operating Profit 622.9 540.0 -82.9 -13.3%
(Margin) (9.9%) (7.8%)
Profit before tax 730.7 690.0 -40.7 -5.6% -30.0
(Margin) (11.6%) (10.0%)
439.3 420.0 -19.3 -4.4%
(Margin) (7.0%) (6.1%)
Increased revenue,
General View
and decreased profit
External factors Effect of ForEX rates +45.0
Change in price of raw materials -270.0 -30.0
Total -225.0 -30.0
Factors other than Change in volume +90.0 +20.0
the above Change in mix/price etc. +73.3
Cost reduction +60.0 +10.0
Fixed cost, etc. -50.0
R&D expenses -8.9
Depreciation expenses -22.3
Total +142.1 +30.0
Foreign Effect
Exchange Rates USD 151Yen 159Yen +8Yen +7.3 +1Yen
and Effect on EUR 175Yen 181Yen +6Yen +11.7 -2Yen
Operating Profit INR 1.72Yen 1.68Yen -0.04Yen -7.5
Capital Expenditures 350.7 380.0 +29.3
Depreciation Expenses 217.7 240.0 +22.3
R&D Expenses 271.1 280.0 +8.9
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FY2026 Forecast
FY2025
Results
Profit attributable to
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PDFBEAR.COM - Free Ver.
<Reference for FY2026 First Six Months>
Nov. 10, 2026
SUZUKI MOTOR CORPORATION
[Units (Production & Sales)] (Thousand units)
1H Results (April-Sep.)
2Q of FY26 1H of FY26
2Q of 1H of
YoY YoY YoY
FY25 FY25
Change Ratio Change Ratio Change Ratio
146 133 -13 -8.7% 286 271 -15 -5.1% 571
Compact vehicles 26 28 +2 +8.0% 54 54 -0 -0.2% 112
Export 55 54 -1 -1.1% 98 109 +11 +11.0% 207
OEM 21 21 +0 +2.2% 41 40 -1 -3.0% 85
Domestic production 248 237 -11 -4.4% 479 474 -5 -1.1% 975 977 +2 +0.2% -4
(CBU only) 227 213 -14 -6.3% 437 425 -12 -2.8% 887 871 -16 -1.8% -4
Europe 26 22 -3 -12.9% 48 48 -1 -1.3% 105 97 -8 -7.8% -3
India 547 712 +165 +30.2% 1,050 1,330 +279 +26.6% 2,347
Pakistan 3 3 -0 -3.5% 7 7 +1 +7.7% 9
Indonesia 26 20 -7 -25.5% 46 43 -3 -6.8% 92
Other 1 1 -0 -0.3% 3 2 -0 -14.5% 4
Asia 578 736 +158 +27.4% 1,106 1,382 +276 +25.0% 2,452 2,829 +376 +15.3% +136
Other 0 0 -0 -62.5% 0 0 -0 -55.3% 0 0 -0 -75.9% -0
Overseas production 604 759 +155 +25.7% 1,154 1,430 +276 +23.9% 2,558 2,925 +368 +14.4% +132
Production Total 852 996 +144 +16.9% 1,633 1,904 +271 +16.6% 3,533 3,902 +370 +10.5% +128
Mini vehicles 142 136 -6 -4.2% 279 269 -10 -3.7% 557
Compact vehicles 37 43 +6 +16.9% 76 85 +9 +12.4% 168
Domestic sales 179 179 +0 +0.2% 355 354 -1 -0.3% 725 721 -4 -0.5% -2
Europe 44 44 -0 -0.0% 92 91 -0 -0.4% 187 185 -2 -0.8% -2
India 410 565 +155 +37.8% 812 1,100 +288 +35.4% 1,862
India:
Pakistan 20 23 +3 +13.6% 43 54 +11 +26.7% 88
expected growth of
Indonesia 17 18 +1 +5.4% 30 35 +5 +17.8% 69
approximately 20%
Other 13 14 +1 +8.5% 25 27 +1 +5.8% 55
Asia 460 619 +160 +34.8% 910 1,216 +306 +33.6% 2,074 2,468 +394 +19.0% +138
Africa 32 33 +1 +4.7% 63 66 +4 +5.8% 127
Middle East 17 14 -3 -17.8% 32 23 -9 -28.8% 62
Latin America 31 32 +1 +3.9% 59 64 +4 +7.6% 124
Oceania 6 5 -1 -16.7% 11 10 -1 -11.7% 21
Other 86 84 -1 -1.5% 165 163 -2 -1.4% 334 327 -7 -2.0% -11
Overseas sales 589 747 +159 +26.9% 1,167 1,470 +303 +26.0% 2,595 2,980 +385 +14.9% +125
Sales Total 767 926 +159 +20.7% 1,522 1,824 +302 +19.9% 3,320 3,702 +382 +11.5% +122
OEM Sales (Not included above) 67 57 -10 -14.7% 127 120 -7 -5.8%
Domestic 2 2 -1 -26.6% 5 4 -1 -22.6% 9 8 -1 -11.0% +0
Export 18 18 -0 -1.3% 37 34 -2 -6.0% 73 78 +4 +5.9% +4
Domestic production 20 20 -1 -3.9% 41 38 -3 -7.9% 82 86 +3 +4.1% +4
India 332 355 +23 +6
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