Strong local demand and export growth propelled Maruti Suzuki India constrained to record financial and operational success for FY26, despite capacity restrictions that constrained full potential.
Rising from 22.34 lakh units in FY25, the company achieved its highest-ever overall sales of 24.22 lakh units for the whole year. The company’s exports increased dramatically to 4.47 lakh units, while domestic sales were 19.74 lakh units, making it the leading exporter of passenger vehicles in India for the sixth year running. Exports accounted for 49% of total exports.
In FY26, net sales increased by 20.2% compared to the previous year, reaching 1.74 lakh crore, and net profit hit a new high of 14,445 crore, slightly more than the previous year.
With exports reaching a record 1.37 lakh units, Maruti Suzuki achieved its highest-ever quarterly sales of 6.76 lakh units in Q4 FY26. The net sales for the quarter increased to ₹50,078 crore from ₹38,839 crore the previous year, marking the first time they had ever crossed the ₹50,000 crore mark.
The quarter’s operating profit (EBIT) increased by 30.4% year-on-year to ₹4,409 crore, which is a result of better operational leverage. Nevertheless, as a result of mark-to-market effects, net profit fell 6.9% year-on-year to ₹3,590 crore.
A record-breaking dividend of ₹140 per share was also announced by the corporation.
Reductions in the goods and services tax (GST) helped boost growth in the second half of the year, but production issues meant that there were about 1.9 lakh unfulfilled customer orders at the end of FY26, with a particularly large backlog in the compact car market. At about 12 days, dealer inventories was still limited.
The e-Vitara, Maruti Suzuki’s first battery electric vehicle, was exported to 44 countries, further enhancing the company’s global profile and bolstering its push into the electric vehicle category.
As a whole, the results show that demand is going strong, that we are leading in exports, and that our margins are getting better, but they also show that we need to expand our capacity to keep growing.
Image Credit: Fortune India
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