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28-Jan-2026

Maruti Suzuki India

While sales increased, margin dropped due to adverse commodity prices


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Maruti Suzuki hosted a conference call on Jan 28, 2026. In the conference call, the company was represented by Mr Arnab Roy-CFO.

Key takeaways of the call

Owing to the GST reform, there was a sharp recovery in the Indian car market, primarily led by the small car segment. The Company achieved its highest-ever Quarterly domestic sales of 564,669 units as compared to 466,993 units in Q3 FY25, an increase of 97,676 units. Out of this increase, the small car segment in the 18% GST bracket accounted for 68,328 units.

The overall PV segment grew 20.5% YoY in Q3 FY26.

In Q3 FY26, the Company clocked record total sales of 667,769 units as compared to 566,213 units in Q3 FY25, up 17.9% YoY. Exports grew 3.9% YoY to 103,100 units.

The company recorded its highest-ever nine-monthly sales volume, net sales and net profit.

While sales increas...



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