What was Maruti Suzuki's revenue in Q4 FY26?

Maruti Suzuki reported revenue of ₹52,462 Cr in Q4 FY26, a +28.5% change year-over-year.

Did Maruti Suzuki management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

MARUTISUZUKIINDIA Diversified 14 May 2026

Maruti Suzuki — Q4 FY26

Q: What guidance did Maruti Suzuki management give?

Volume growth of ~10% in FY27: Management expects Maruti's domestic sales volume to grow by about 10% in FY27, driven by new capacity and strong demand.

Maruti Suzuki reported a record Q4 with net sales of ₹50,010 crore (+28.5% YoY) and EBITDA of ₹4,400 crore (+30.4% YoY), driven by a sharp recovery in small car demand post-GST reform and strong export growth.

Revenue ₹52,462 Cr +28.5%

EBITDA ₹4,400 Cr +30.4%

PAT ₹3,659 Cr -6.9%

EBITDA Margin 12% +70bps

Duration 47 min

Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

Maruti Suzuki reported a record Q4 with net sales of ₹50,010 crore (+28.5% YoY) and EBITDA of ₹4,400 crore (+30.4% YoY), driven by a sharp recovery in small car demand post-GST reform and strong export growth. PAT declined 6.9% to ₹3,600 crore due to a ₹750 crore mark-to-market hit on bond yields. The company guided for ~10% volume growth in FY27, supported by capacity additions of 500,000 units (Koda phase 2 commissioned, Gujarat line 4 coming). Management expressed confidence in margin trajectory despite commodity headwinds, citing multiple levers. Key risk: sustained geopolitical tensions could keep commodity/energy costs elevated, delaying margin expansion.

Risks4 trackedTranscriptfull text

Research workspace

Focused Modules

!Risks 4 risks

Risk Intelligence

Geopolitical tensions impacting commodity/energy costs

View Risks →

≡Transcript Full text

Call Transcript

Full transcript text is available on this route.

Read Transcript →

Quarter Snapshot

Total Sales Volume (Q4) 676,629 units

+11.8% YoY

Highest ever quarterly sales, driven by domestic recovery and record exports.

Export Volume (FY26) 447,000 units

+49% share of India's PV exports

Maruti contributed 49% of India's total passenger vehicle exports in FY26.

Pending Customer Orders 190,000 units

130,000 in small car segment

Unserved orders highlight strong demand, especially in 18% GST bracket small cars.

First-Time Buyer Share (Q4) 51%

+9pp vs H1 FY26

First-time buyer share rose from 42% in H1 to 51% in Q4, signaling GST reform impact.

Fast read

Guidance and risk preview

Top guidance Volume growth of ~10% in FY27

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

Top risk Geopolitical tensions impacting commodity/energy costs

West Asia conflict and supply chain disruptions could keep commodity and energy prices elevated, pressuring margins.

View Risks →