Sustainability of small car recovery
The strong festive retail sales may include deferred purchases and festive euphoria; sustainability is uncertain.
MARUTI / Q2-FY26 / risks
Keep the risk register visible.
Maruti · Material risks, their source context, and severity in the latest available quarter.
Research layer active
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Risk intelligence
Material risks this quarter
medium
Margin pressure from discounting and mix
Higher sales promotion expenses (75 bps) and price corrections (20 bps) impacted margins; small car recovery could pressure blended margins.
Forex and commodity headwinds
Forex (JPY) and commodities (PGM) together adversely impacted margins by 30 bps; hedging gains are non-operating.
Market share recovery challenges
Global President noted that reaching 50% market share is more difficult than ever, despite product launches.