Shares of Maruti Suzuki India ended 2% higher at ₹11,450, after the company’s September‑quarter results, marking a modest rebound amid a 32% YTD decline.
Revenue surged 26% YoY to ₹53,340 crore, matching the ₹53,350 crore estimate from CNBC‑TV18. The jump is largely driven by a 27% volume rise to 6.97 lakh units, buoyed by GST‑related demand.
EBITDA margin contracted to 9% from 12% in the same quarter last year, yet it outperformed the 8.4% poll figure. The squeeze is attributed to raw‑material costs climbing to 79.9% of net sales, up from 75.7% YoY.
Net profit fell 27% to ₹2,455 crore, below the ₹2,655 crore estimate. The decline stems from higher manufacturing overheads, new‑facility depreciation, and a €‑market‑to‑market loss on invested surplus.
Total income climbed to ₹53,770 crore, up from ₹43,298 crore YoY, while total expenses jumped to ₹50,604 crore, reflecting rising cost pressure. Profit before tax slipped to ₹3,166 crore from ₹4,291 crore a year earlier.
Forward outlook: Maruti Suzuki signals continued cost‑control focus, but uncertainty looms over the Environment Protection Rules 2025, which may prompt additional provisions. The company will revisit its guidance once the EPR pricing framework is finalized.