Maruti Suzuki quarterly profit slides 27% to Rs 2,415 crore as input costs bite
Maruti Suzuki's standalone net profit fell 27% in July–September as commodity costs rose, despite record sales volume, according to Moody's.
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what happened
According to Moody's, Maruti Suzuki India's standalone net profit dropped 27% year on year to Rs 2,415 crore in the July–September quarter of FY27. Higher commodity prices and lower non-operating income were the main drags.
Revenue climbed 26% to Rs 53,340 crore from Rs 42,332 crore a year earlier. The automaker sold a record 696,654 vehicles, up 26.5%, yet operating profit (EBITDA) slipped 6% to Rs 4,764 crore and its EBITDA margin narrowed from 12.01% to 8.93%. The company partly blamed commodity increases tied to the West Asia conflict.
Domestic demand stayed robust, with small-car sales up 35.9% and SUV sales up 68.2%. Dealer inventory was around 17 days and pending bookings about 200,000 units at the end of September. Overseas shipments eased to 108,119 units from 110,487. For the first half, volume hit a record 1,379,378 units (+27.9%) and net sales reached Rs 1,00,575 crore, while half-year profit came in at Rs 5,767 crore versus Rs 7,061 crore a year earlier.
why it matters
The key takeaway is the gap between volume growth and profitability: strong demand is not offsetting higher input costs, so margins are being squeezed. Investors will be watching whether the company can restore profitability if costs stay elevated.
market impact
Maruti Suzuki shares and Indian autos: margin squeeze from commodity costs pressures earnings
- Maruti Suzuki shares pressure down — margin squeeze from higher commodity costs weighs on profit
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sources
- Maruti Suzuki Q2 Net Profit Falls 27% To Rs 2,415 Cr As Costs Weigh On Margins — Moody's, 27 October 2026 at 15:03 UTC
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