Maruti Suzuki India shares declined 1.93% to trade at Rs 14,951 at 12:10 pm on Wednesday. The stock was among the top losers on the Nifty 50.
Financial Performance:
The following table presents Maruti Suzuki India's consolidated quarterly financial performance:
| Heading | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 37,449.20 Crore | Rs 38,764.30 Crore | Rs 40,920.10 Crore | Rs 38,605.20 Crore | Rs 42,344.20 Crore |
| Net Profit | Rs 3,055.20 Crore | Rs 3,659.80 Crore | Rs 3,839.20 Crore | Rs 3,756.90 Crore | Rs 3,281.70 Crore |
| EPS | 98.68 | 118.54 | 124.40 | 120.62 | 106.52 |
The company's revenue for the quarter-ending September 2025 stood at Rs 42,344.20 crore, up from Rs 37,449.20 crore in September 2024. The net profit for the quarter-ending September 2025 was Rs 3,281.70 crore, compared to Rs 3,055.20 crore in September 2024. The Earnings Per Share (EPS) stood at 106.52 in September 2025, compared to 98.68 in September 2024.
The following table presents Maruti Suzuki India's consolidated yearly financial performance:
| Heading | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 70,372.00 Crore | Rs 88,329.80 Crore | Rs 117,571.30 Crore | Rs 141,858.20 Crore | Rs 152,913.00 Crore |
| Net Profit | Rs 4,220.10 Crore | Rs 3,717.60 Crore | Rs 8,033.60 Crore | Rs 13,234.10 Crore | Rs 14,256.30 Crore |
| EPS | 145.30 | 128.43 | 271.82 | 429.01 | 461.20 |
| BVPS | 1,738.43 | 1,832.24 | 2,046.07 | 2,723.79 | 3,061.07 |
| ROE | 8.36 | 7.01 | 13.28 | 15.75 | 15.06 |
| Debt to Equity | 0.01 | 0.01 | 0.02 | 0.00 | 0.00 |
The company's revenue for the year-ending March 2025 stood at Rs 152,913.00 crore, up from Rs 70,372.00 crore in March 2021. The net profit for the year-ending March 2025 was Rs 14,256.30 crore, compared to Rs 4,220.10 crore in March 2021. The Earnings Per Share (EPS) stood at 461.20 in March 2025, compared to 145.30 in March 2021.
Income Statement Yearly:
The following table shows the income statement for Maruti Suzuki India on a consolidated yearly basis (in Crore):
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Sales | 152,913 | 141,858 | 117,571 | 88,329 | 70,372 |
| Other Income | 5,022 | 4,093 | 2,140 | 1,744 | 2,936 |
| Total Income | 157,935 | 145,951 | 119,712 | 90,074 | 73,308 |
| Total Expenditure | 138,364 | 128,587 | 109,379 | 85,412 | 68,054 |
| EBIT | 19,570 | 17,364 | 10,332 | 4,661 | 5,253 |
| Interest | 194 | 193 | 187 | 126 | 101 |
| Tax | 5,119 | 3,936 | 2,112 | 817 | 931 |
| Net Profit | 14,256 | 13,234 | 8,033 | 3,717 | 4,220 |
The sales increased from Rs 70,372 Crore in March 2021 to Rs 152,913 Crore in March 2025. The net profit also increased from Rs 4,220 Crore in March 2021 to Rs 14,256 Crore in March 2025.
Income Statement Quarterly:
The following table shows the income statement for Maruti Suzuki India on a consolidated quarterly basis (in Crore):
| Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|
| Sales | 42,344 | 38,605 | 40,920 | 38,764 | 37,449 |
| Other Income | 946 | 1,888 | 1,511 | 1,057 | 1,523 |
| Total Income | 43,290 | 40,493 | 42,431 | 39,822 | 38,972 |
| Total Expenditure | 38,961 | 35,538 | 37,537 | 35,116 | 33,836 |
| EBIT | 4,329 | 4,954 | 4,893 | 4,705 | 5,136 |
| Interest | 57 | 46 | 47 | 46 | 43 |
| Tax | 990 | 1,151 | 1,006 | 999 | 2,038 |
| Net Profit | 3,281 | 3,756 | 3,839 | 3,659 | 3,055 |
The sales increased from Rs 37,449 Crore in September 2024 to Rs 42,344 Crore in September 2025. The net profit also increased from Rs 3,055 Crore in September 2024 to Rs 3,281 Crore in September 2025.
Cash Flow:
The following table shows the cash flow from operating, investing, and financing activities for Maruti Suzuki India:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Operating Activities | Rs 16,136 Crore | Rs 16,801 Crore | Rs 9,251 Crore | Rs 1,840 Crore | Rs 8,856 Crore |
| Investing Activities | Rs -14,456 Crore | Rs -11,864 Crore | Rs -8,036 Crore | Rs -239 Crore | Rs -7,291 Crore |
| Financing Activities | Rs -4,155 Crore | Rs -4,062 Crore | Rs -1,213 Crore | Rs -1,607 Crore | Rs -1,544 Crore |
| Net Cash Flow | Rs -2,475 Crore | Rs 874 Crore | Rs 2 Crore | Rs -5 Crore | Rs 20 Crore |
Balance Sheet:
The following table shows the balance sheet for Maruti Suzuki India:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Share Capital | Rs 157 Crore | Rs 157 Crore | Rs 151 Crore | Rs 151 Crore | Rs 151 Crore |
| Reserves & Surplus | Rs 96,082 Crore | Rs 85,478 Crore | Rs 61,640 Crore | Rs 55,182 Crore | Rs 52,349 Crore |
| Current Liabilities | Rs 30,570 Crore | Rs 25,951 Crore | Rs 20,107 Crore | Rs 17,023 Crore | Rs 16,120 Crore |
| Other Liabilities | Rs 5,161 Crore | Rs 3,762 Crore | Rs 2,698 Crore | Rs 2,298 Crore | Rs 2,661 Crore |
| Total Liabilities | Rs 131,971 Crore | Rs 115,350 Crore | Rs 84,596 Crore | Rs 74,655 Crore | Rs 71,282 Crore |
| Fixed Assets | Rs 40,911 Crore | Rs 35,599 Crore | Rs 20,734 Crore | Rs 16,683 Crore | Rs 16,485 Crore |
| Current Assets | Rs 29,524 Crore | Rs 22,633 Crore | Rs 11,615 Crore | Rs 16,793 Crore | Rs 18,544 Crore |
| Other Assets | Rs 61,535 Crore | Rs 57,117 Crore | Rs 52,246 Crore | Rs 41,178 Crore | Rs 36,252 Crore |
| Total Assets | Rs 131,971 Crore | Rs 115,350 Crore | Rs 84,596 Crore | Rs 74,655 Crore | Rs 71,282 Crore |
| Contingent Liabilities | Rs 33,587 Crore | Rs 30,579 Crore | Rs 34,446 Crore | Rs 21,354 Crore | Rs 15,704 Crore |
Key Financial Ratios:
Key financial ratios for Maruti Suzuki India are as follows:
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | 145.30 | 128.43 | 271.82 | 429.01 | 461.20 |
| Diluted EPS (Rs.) | 145.30 | 128.43 | 271.82 | 429.01 | 461.20 |
| Book Value / Share (Rs.) | 1,738.43 | 1,832.24 | 2,046.07 | 2,723.79 | 3,061.07 |
| Dividend/Share (Rs.) | 45.00 | 60.00 | 90.00 | 125.00 | 135.00 |
| Face Value | 5 | 5 | 5 | 5 | 5 |
| Gross Profit Margin (%) | 11.77 | 8.43 | 11.19 | 15.94 | 16.46 |
| Operating Margin (%) | 7.46 | 5.27 | 8.78 | 12.24 | 12.79 |
| Net Profit Margin (%) | 5.99 | 4.20 | 6.83 | 9.32 | 9.32 |
| Return on Equity (%) | 8.36 | 7.01 | 13.28 | 15.75 | 15.06 |
| ROCE (%) | 9.52 | 8.08 | 16.02 | 19.42 | 19.29 |
| Return On Assets (%) | 6.15 | 5.19 | 9.70 | 11.69 | 10.98 |
| Current Ratio (X) | 1.15 | 0.99 | 0.58 | 0.87 | 0.97 |
| Quick Ratio (X) | 0.96 | 0.78 | 0.36 | 0.67 | 0.74 |
| Debt to Equity (x) | 0.01 | 0.01 | 0.02 | 0.00 | 0.00 |
| Interest Coverage Ratios (X) | 51.61 | 58.85 | 70.37 | 116.84 | 129.65 |
| Asset Turnover Ratio (%) | 98.72 | 1.22 | 1.48 | 1.42 | 1.24 |
| Inventory Turnover Ratio (X) | 23.08 | 12.07 | 11.94 | 16.44 | 25.00 |
| 3 Yr CAGR Sales (%) | -6.10 | 1.31 | 24.66 | 41.98 | 31.57 |
| 3 Yr CAGR Net Profit (%) | -26.05 | -29.57 | 20.21 | 77.09 | 95.83 |
| P/E (x) | 47.21 | 58.87 | 30.51 | 29.37 | 24.98 |
| P/B (x) | 3.95 | 4.13 | 4.05 | 4.63 | 3.76 |
| EV/EBITDA (x) | 24.69 | 30.28 | 19.12 | 17.41 | 14.36 |
| P/S (x) | 2.94 | 2.58 | 2.13 | 2.80 | 2.37 |
Corporate Actions:
Maruti Suzuki India announced a final dividend of Rs 135 per share on April 25, 2025, with the ex-date as January 28, 2026.
Moneycontrol analysis indicates bearish sentiment on the stock as of January 28, 2026.
With the stock's last traded price at Rs 14,951, Maruti Suzuki India saw a decline in Wednesday's trading session, marking it among the top losers on Nifty 50 this hour.
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