Maruti Suzuki India Limited (MSIL) has reported its strongest-ever quarterly and nine-month performance, driven by a sharp revival in the small car segment following the GST reform.
A resurgence in the Indian car market, led largely by small cars in the 18% GST bracket, helped MSIL achieve its highest-ever quarterly domestic sales of 564,669 units, an increase of 97,676 units over the 466,993 units sold in the same quarter last year. The small car segment alone contributed 68,328 units to this growth.
Total sales, including exports, touched a record 667,769 units, compared to 566,213 units in Q3 FY2024-25. Exports rose to 103,100 units from 99,220 units last year.
This strong volume growth translated into MSIL’s highest-ever quarterly Net Sales of INR 475,344 million, up from INR 368,020 million a year earlier.
Net Profit for the quarter stood at INR 37,940 million versus INR 36,593 million last year. Profit was moderated by a one-time provision of INR 5,939 million related to the implementation of the New Labour Codes.
Best-Ever Nine-Month Performance
For April–December FY2025-26, MSIL reported its highest-ever nine-month sales, revenue, and profit. Total sales reached 1,746,504 units, up from 1,629,631 units last year. Domestic sales were 1,435,945 units, while exports totalled 310,559 units.
Net Sales for the nine months rose to INR 1,242,908 million, compared to INR 1,062,589 million in the same period last year.
Net Profit increased to INR 108,549 million from INR 104,403 million in the previous year.
Impact of SMG Amalgamation
Following the merger of Suzuki Motor Gujarat Private Limited (SMG) with MSIL effective December 1, 2025 — with April 1, 2025, set as the appointed date — the financial statements have been restated from the beginning of the fiscal year.
