For the quarter ended June 30, 2026, India’s largest carmaker reported a standalone net profit of ₹3,352 crore, down 10.8% from ₹3,758 crore a year earlier. Even so, the figure comfortably exceeded the CNBC-TV18 poll estimate of ₹3,264 crore.
Commenting on profitability, the company said net sales increased 36% year on year to ₹49,959 crore during the quarter. However, rising raw material costs, which began increasing early in the quarter and intensified following the outbreak of the conflict in the Middle East, weighed on profitability.
Revenue from operations rose 35.9% year on year to ₹52,456 crore, broadly in line with Street expectations of ₹52,580 crore, reflecting healthy demand and higher realisations during the quarter.
The operating picture, however, was weaker than anticipated. EBITDA declined 6.7% year on year to ₹4,311 crore, missing the CNBC-TV18 estimate of ₹5,172 crore. Operating margin contracted sharply to 8.2% from 12% a year earlier and came in well below the Street’s expectation of 9.8%, suggesting profitability remained under pressure despite strong top-line growth.
Ahead of the earnings announcement, shares of Maruti Suzuki closed 0.4% higher at ₹14,240 on the NSE.
The carmaker continued to strengthen its leadership in the domestic passenger vehicle market during the quarter. The company said total sales volume rose 29.3% year on year, driven by broad-based demand across segments. Domestic small car sales grew 34.1%, SUV sales jumped 44.6%, while exports increased 28.6% compared with the corresponding quarter last year.
The automaker also expanded its share of the domestic market, with market share rising 2.3 percentage points year on year to 41.2%, reinforcing its dominant position in the country’s passenger vehicle market.
Management attributed the higher sales volumes to the commissioning of the company’s second manufacturing plant at Kharkhoda, which helped increase production capacity and support stronger dispatches. Despite the higher sales, dealer inventory remained lean at around 13 days at the end of the quarter, suggesting healthy retail demand and disciplined inventory management.
Beyond its core automobile business, Maruti Suzuki also announced plans to deepen its clean energy initiatives. The Board approved the first phase of four Compressed Biogas (CBG) projects with a planned investment of ₹561 crore. The company said any further expansion of CBG manufacturing will be evaluated after gaining operational experience from the initial projects.
