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Maruti Suzuki Revenue History — Quarter by Quarter

Maruti Suzuki's revenue moved from ₹32,535 Cr in Q1 FY24 to ₹52,462 Cr in Q4 FY26, a 61.2% change over 12 quarters. The table keeps each quarter linked back to the underlying earnings page.

Revenue by Quarter

QuarterRevenue (₹ Cr)YoY Change
Q4 FY26₹52,462 Cr+28.8%
Q3 FY26₹49,904 Cr+29.1%
Q2 FY26₹42,344 Cr+12.8%
Q1 FY26₹38,605 Cr+8.1%
Q4 FY25₹40,920 Cr+5.7%
Q3 FY25₹38,764 Cr+15.5%
Q2 FY25₹37,449 Cr+0.15%
Q1 FY25₹35,779 Cr+9.8%
Q4 FY24₹38,471 Cr+19.1%
Q3 FY24₹33,513 Cr—
Q2 FY24₹37,339 Cr+24.5%
Q1 FY24₹32,535 Cr+22%

What management said about revenue

G

Q4 FY26 · Domestic volume growth of ~10% in FY27

Management expects Maruti's domestic sales to grow by about 10% year-on-year in FY27, driven by new capacity and strong demand.

G

Q3 FY26 · Export volume target of 400,000 units for FY26

On track to achieve the export guidance of 400,000 units for the current fiscal year.

G

Q3 FY26 · Sustainable volume growth of ~7% initially estimated

Management had given an initial sustainable volume growth figure of about 7%, to be reassessed in three months.

G

Q2 FY26 · Industry growth of 6% in H2 FY26

Management expects overall industry growth of about 6% year-on-year in the second half and beyond.

G

Q2 FY26 · Exports to exceed 400,000 units in FY26

Given H1 exports of over 200,000 units, management expects to exceed the full-year export guidance of 400,000 units.

G

Q1 FY26 · Two SUV launches in FY26, including one EV

Maruti will launch two SUVs this fiscal year, one electric and one ICE, targeting the growing SUV segment (55% of industry).

G

Q4 FY25 · Export growth of ~20% in FY26

Management expects exports to grow by at least 20% in FY26, building on the 17.5% growth in FY25.

G

Q4 FY25 · Domestic industry growth of 1-2% in FY26

Maruti forecasts a modest 1-2% growth for the domestic PV industry in FY26, with the company aiming to outperform.

G

Q4 FY25 · Two new model launches in FY26

Plans to launch the e Vitara EV and another SUV in FY26, with e Vitara sales starting in H1.

G

Q3 FY25 · Q4 FY25 retail growth ~3.5%

Management expects retail sales growth in Q4 to follow the 9-month trend of ~3.5%.

G

Q3 FY25 · Price hike of ~30 bps on net sales from Feb 2025

Small price increase announced to cover inflationary pressures.

G

Q2 FY25 · Full-year retail sales growth of 3-4%

Management expects retail sales to grow 3-4% for FY25, with April-October already at 3.9%.