Maruti Suzuki profit misses estimates in Q2 as input costs climb
Maruti Suzuki net profit fell 26.36% in the second quarter while revenue rose on record sales. The shares barely moved after the results.
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what happened
Shares of Maruti Suzuki, India's largest automaker, slipped slightly on Wednesday, October 28, after the company reported results for the second quarter of fiscal 2026-27. According to TradingView, the company fell well short of analysts' profit forecasts. The main reason was higher costs for raw materials, linked to the conflict in the Middle East.
Net profit for July to September dropped 26.36% to 2,466.1 crore rupees. Revenue, however, rose to 53,355.5 crore rupees from 42,344.2 crore a year earlier. The company sold a record 696,654 vehicles, up 26.5%, while operating profit (EBIT) came in at 2,803.7 crore rupees against 3,382 crore a year earlier.
why it matters
Brokerages remain cautious. Rising costs for steel and copper are expected to weigh on margins in the coming quarters, while strong demand and higher volumes partly offset the effect. Jefferies cut its target price by 18% but kept a Buy rating. Raw material prices will be the key factor for the shares.
market impact
Maruti Suzuki shares: higher costs pressure margins, while record sales partly offset the hit
- Maruti Suzuki shares mixed — profit miss from higher input costs against record sales volumes
tags
instruments
sources
- Maruti Suzuki shares slip marginally after missing estimates in Q2; brokerages divided on stock outlook, check target prices — TradingView, 28 October 2026 at 07:40 UTC
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