Steel price inflation post-safeguard duty
Management flagged that domestic steel producers may use the safeguard duty to raise prices, impacting margins.
MARUTI / Q4-FY25 / risks
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Maruti · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Sustained weakness in entry-level demand
Chairman noted 88% of the country is not participating in car growth, with entry-level segment shrinking.
EV profitability overhang
Management acknowledged EVs will have much lower profitability than ICE vehicles, potentially dragging overall margins.
New plant ramp-up costs
Kharkhoda plant contributed 30 bps margin headwind in Q4; full benefit of scale will take time.