Maruti Suzuki India Ltd

Filing Status

• Wrapper-only filing; no substantive transcript content available.
• Transcript indicates call held on 31st July 2026.

Audio recording

• Audio recording of the 31 July 2026 investors' call for Q1 ended 30 June 2026 has been uploaded.

Consolidation & Restatement

• SMG amalgamated with MSIL from Dec 1, 2025; restated for comparison.

Operational Highlights & Segments

• Q1 FY27 sales volume 682,724 units, up 29.3% YoY.
• Domestic sales 557,988 units; Exports 124,736 units.
• Mini: 43,757 units; YoY +124.1%.
• Compact+Mid-size: 226,029 units; YoY +26.2%.
• Passenger cars: 269,786 units; YoY +35.8%.
• UVs: 218,885 units; YoY +35.2%.
• Vans: 36,557 units; YoY +10.4%.
• LCV: 9,579 units; YoY +12.6%.
• Sales to other OEM: 23,181 units; YoY -19.5%.

Financial Performance

• Net sales ₹499.6bn; YoY +36.4%.
• Operating EBITDA ₹43.1bn; margin 8.6%.
• Operating EBIT ₹25.3bn; margin 5.1%.
• PBT ₹43.4bn; margin 8.7% (down 470 bps YoY).
• PAT ₹33.5bn; margin 6.7% (down 360 bps YoY).
• Material cost 80.5% of net sales; up 600 bps.
• Employee cost 4.9% of net sales; down 70 bps.
• Other expenses 11.0%; down 170 bps.
• Other operating income 5.0%; down 40 bps.
• Non-operating income 3.7%; down 140 bps.
• QoQ: Net sales -0.2%; Op EBITDA -30.0%; Op EBIT -42.6%.

Risks & Mitigation

• Negative: commodity prices and FX pressure on margins.
• Mitigation: operating leverage and cost reduction efforts.

Financial highlights

• Net sales for Q1 FY2026-27: INR 499,591 million, up 36% YoY.
• Total sales volume rose 29.3% YoY.
• Domestic small cars +34.1%, SUVs +44.6%, exports +28.6%.
• Domestic market share to 41.2%, up 2.3 percentage points.
• Net profit: INR 33,521 million, down from INR 37,581 million.
• Inventory end of quarter about 13 days.
• Second Kharkhoda plant commissioned to support higher sales.

CBG projects and amalgamation

• Board approved four CBG projects in Phase I, budget INR 5,610 million.
• Expansion of CBG manufacturing to be considered based on project experience.
• SMG amalgamated with MSIL from Dec 1, 2025; comparatives restated.

Financial results approved

• Standalone Q1 FY2026 unaudited results approved; quarter ended June 30, 2026.
• Consolidated Q1 FY2026 unaudited results approved; quarter ended June 30, 2026.
• Limited review reports issued; conclusions unmodified for standalone and consolidated results.

Regulatory/compliance and amalgamation updates

• EPR obligations under End-of-Life Vehicles Rules 2025 cannot be reliably estimated; impact to be evaluated.
• Scheme of Amalgamation with Suzuki Motor Gujarat Private Limited approved by NCLT; effective Dec 1, 2025.
• June 30, 2025 comparatives restated under the Scheme.
• Auditors' notes: EPR estimation uncertainty; conclusions not modified.

CCI hearing update

• Hearing in ongoing CCI matter adjourned to 28 September 2026.

Operating Update

• Commercial production at Hansalpur Plant D commences from 30 July 2026.
• Plant D adds 250,000 units annually, raising Hansalpur capacity to 1 million.

Meeting Details

• Date of meeting: 31 July 2026; time and venue not disclosed.

Key Agenda Items

• Consider/approve unaudited quarterly results for quarter ended 30 June 2026.

Other Notes

• No other material notes disclosed in the filing.