Maruti Suzuki Share Price Surges 3.5% Following Strong Q4 Earnings

Maruti Suzuki India Reports Strong Revenue Growth, But Profitability Takes a Hit

On April 29, shares of Maruti Suzuki India rose 3.5% after the country's largest carmaker reported its March quarter results (Q4FY26). The auto stock reached a high of ₹13,350.75 per share on the BSE, driven by strong revenue growth despite pressure on profitability due to higher input costs.

Maruti Suzuki's revenue from operations for the March quarter stood at ₹52,449 crore, a 28.2% increase from ₹40,909 crore in the year-ago period. The growth was driven by steady volume growth and improved realisations, with the company selling 676,209 units during the quarter, an 11.8% increase from 604,635 units in Q4FY25.

However, net profit declined 7% YoY to ₹3,591 crore, as elevated raw material and operating costs weighed on earnings. Total expenses rose sharply to ₹48,113 crore compared with ₹37,576 crore a year ago, reflecting higher steel, aluminium, and freight costs.

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Maruti Suzuki's EBITDA margin remained largely flat at 11.7%, while EBITDA increased 27.1% YoY to ₹6,156 crore. The company reported revenue of ₹1,74,369.5 crore for the full year FY26, up 20.2% YoY, and net profit of ₹14,445.4 crore, marking a record high.

The company also announced a final dividend of ₹140 per share for FY26, with the record date set for Wednesday, July 7, and the payout to be made on Wednesday, September 9.

In recent times, Maruti Suzuki's stock has been volatile, gaining 4% in 1 month but losing 13% in 3 months. The scrip hit its record high of ₹17,371.60 in January 2026 and its 52-week low of ₹11,332.05 in April 2025.

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Brokerage house Motilal Oswal reiterated its BUY rating with a target price of ₹15,529, citing the company's strong order backlog and healthy new launch pipeline. Choice Broking maintained an 'add' rating for the stock but cut its target price to ₹14,600 from ₹16,200 earlier.