Maruti Suzuki India Limited has released its financial results for the first quarter of the financial year 2027 (Q1 FY’27). The company reported a significant 29.3% increase in sales volume year-on-year, reaching 682,724 units. Net sales saw a substantial rise of 36.4%, while profit after tax (PAT) decreased by 10.8% compared to the previous year’s same quarter.
Maruti Suzuki India Limited: Q1 FY’27 Financial Highlights
Maruti Suzuki India Limited has announced its financial results for the quarter ended June 30, 2026 (Q1 FY’27). The investor presentation details the company’s performance, highlighting a strong increase in sales volume and net sales, alongside a decrease in profitability metrics.
Performance Overview: Q1 FY’27 vs. Q1 FY’26
The company experienced a robust year-on-year growth in sales volume, with a 29.3% increase to 682,724 units in Q1 FY’27, compared to 527,861 units in Q1 FY’26. This surge in sales volume directly contributed to a significant rise in Net Sales, which grew by 36.4% to ₹499,591 million from ₹366,206 million in the prior year’s quarter.
However, profitability metrics showed a decline. Operating EBITDA decreased by 6.7% to ₹43,111 million. Operating EBIT saw a sharper fall of 17.4% to ₹25,311 million. Profit Before Tax (PBT) declined by 11.5% to ₹43,413 million, and Profit After Tax (PAT) decreased by 10.8% to ₹33,521 million from ₹37,581 million in Q1 FY’26.
Key Financial Ratios
An analysis of key financial ratios as a percentage of Net Sales reveals shifts in cost structures. Material Cost increased significantly by 600 basis points to 80.5% of Net Sales. Employee Cost and Other Expenses also saw changes. Notably, Op. EBITDA as a percentage of Net Sales decreased from 12.6% in Q1 FY’26 to 8.6% in Q1 FY’27, reflecting margin pressures.
The company cited adverse commodity prices, particularly in the context of the West Asia conflict, and adverse foreign exchange movements as negative factors impacting margins. These were partially offset by favourable operating leverage and cost reduction efforts.
Performance vs. Q4 FY’26
When compared to the preceding quarter (Q4 FY’26), sales volume saw a modest increase of 1.0% to 682,724 units. However, Net Sales experienced a slight dip of 0.2% to ₹499,591 million. Profitability metrics showed a significant decline sequentially, with Op. EBITDA falling by 30.0% and PAT decreasing by 6.6%.
Factors contributing to the sequential decline included adverse commodity prices, adverse foreign exchange movement, unfavourable Fixed Cost Incidence due to inventory depletion, higher employee expenses (Q1 seasonality), and higher depreciation expenses related to capacity expansion. Positive factors included higher operating and non-operating income.
Sales Volume Breakdown
In Q1 FY’27, Domestic sales accounted for 81.7% of total sales, with a year-on-year growth of 29.5%. Exports contributed 18.3% of total sales, growing by 28.6%. Within domestic sales, Passenger cars led with 269,786 units, showing a strong year-on-year growth of 35.8%, followed by UVs and Compact + Mid-size segments. Mini segment vehicles saw exceptional growth of 124.1%.
Source: BSE
