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Maruti Suzuki Margin Trend — Quarter by Quarter

Maruti Suzuki's EBITDA margin moved from 11.0% in Q1 FY24 to 12.0% in Q4 FY26 across 12 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q4 FY2612.0%—
Q3 FY2611.0%—
Q2 FY2612.0%—
Q1 FY2612.0%—
Q4 FY2512.0%—
Q3 FY2513.0%—
Q2 FY2513.0%—
Q1 FY2514.0%—
Q4 FY2414.0%—
Q3 FY2413.0%—
Q2 FY2414.0%—
Q1 FY2411.0%—

What management said about ebitda margin

G

Q2 FY26 · Aspiration of 10% EBIT margin and 50% market share

Management reiterated the goal of achieving 10% EBIT margin and 50% market share, as set by Suzuki Motor Corporation.