About the company:

Maruti Suzuki India Ltd., a subsidiary of Suzuki Motor Corporation (Japan), is India’s largest automobile manufacturer, dominating the passenger vehicle (PV) segment with a market share of over 40%. Founded in 1981 and headquartered in New Delhi, the company is known for its fuel-efficient, affordable, and reliable cars, including bestsellers like Alto, Swift, Baleno, WagonR, and Brezza. Maruti Suzuki has expanded into hybrid and electric vehicles (EVs) while strengthening its CNG and SUV portfolio. With a vast dealer and service network of over 4,000 outlets, the company plays a pivotal role in India’s automobile industry growth and exports to 100+ countries.

Launch of e-Vitara EV:

Maruti’s first electric SUV, built on the new HEARTECT-e platform, with 500+ km range.

Plans to be India’s largest EV manufacturer within the first year of production.

Global production hub for Suzuki and Toyota, targeting exports to 100+ countries.

CNG Growth & Market Share:

1 in 3 Maruti cars sold in India is CNG.

Growing demand for hybrids, CNG, and SUVs in both urban and rural markets.

 

Strategic Developments & Outlook:

Retail demand outlook: Growth of ~3.5% expected in Q4 FY25, with rural outperforming urban.

Kharkhoda plant: Expected to be operational by Q4 FY25.

Price hikes: 30 bps impact on net sales in Q4, taken to offset cost pressures.

Exports rising: Expansion in Latin America, Africa, and ASEAN.

Competitive Landscape: Maruti sees increased industry competition as a positive for innovation and market expansion.

Maruti Suzuki Financial Performance for the Last Three Quarters (FY25)

MetricQ3 FY25Q2 FY25Q1 FY25
Net Sales₹368 billion₹357 billion₹338 billion
Total Sales Volume5,66,213 units5,52,055 units5,11,475 units
Domestic Sales4,66,993 units4,56,911 units4,31,813 units
Export Sales99,220 units95,144 units79,662 units
Net Profit₹35.25 billion₹37.16 billion₹30.01 billion
EBIT Margin10.0%10.3%9.8%

 

Recent updates:

Highlights from last con call:

Sales Performance:

Total sales: 5,66,213 units (+8.7% YoY).

Domestic sales: 4,66,993 units, highest-ever retail sales in Q3.

Exports: 99,220 units, a record high, commanding 49% of India’s total PV exports.

 

Financial Performance:

Net Sales: ₹368 billion (+16% YoY).

Net Profit: ₹35.25 billion (+12.6% YoY).

EBIT Margin: 10.0% (down from 10.3% in Q2) due to higher ad spend, forex losses, and depreciation from the upcoming Kharkhoda plant.