Maruti Shares Tank 2.89%; Net Profit Down 6.5% in Q4

Mumbai, April 28: Shares of Maruti Suzuki India Ltd (Maruti Suzuki) plunged on Tuesday, as the stock was last seen trading down ₹382 or 2.89% at ₹12,840 compared to Monday’s close at ₹13,222.

After opening around ₹13,220, the stock briefly rose to a session high of around ₹13,310 around 9:15 am Tuesday before moving steadily lower through late morning and early afternoon trade. Selling accelerated into the afternoon session around 2: 30 pm — right after markets concluded board meeting — and the stock plunged to a session low of around ₹12,840 by around 3:20 pm in a sharp intraday selloff apparently spurred by investor disappointment with the company’s quarterly results announced during trading hours on Tuesday.

Shares of Maruti Suzuki traded mostly sideways between ₹13,200 and ₹13,280 ranging from its morning high of about ₹13,310 through much of the morning and early afternoon session on Tuesday before accelerating lower following the conclusion of its board meeting after 2: 30 pm and tumbling down nearly ₹450 from its intraday highs to intraday lows of about ₹12,830 in less than an hour of trade. The stock traded last at around ₹12,840 representing an intraday move down over 3.6% from its daily high.

Weekly Chart

Pulling back further to take a look at the weekly price chart for Maruti Suzuki, the stock had already been trending downward ahead of Tuesday’s plunge. Maruti Suzuki opened the week of April 21 at around ₹13,460 and dipped gradually to ₹13,380 on April 22 and sharply to ₹13,140 on April 23 before sinking to a weekly low of ₹13,055 on April 24. The stock traded as high as ₹13,370 on April 25 and closed around ₹13,222 on Monday. Tuesday’s tumble brings the weekly loss on shares of Maruti Suzuki to 4.55% at last check, sharply underperforming the broader Nifty 50 which fell 2.36% over the same period. The one-month return is also underwater at 3.70% compared to the Nifty 50’s gain of 5.16% and YTD return trails the broader index as well, down negative 23.10% versus the Nifty 50’s negative 8.22%.

Order Book

With respect to the order book, at its last update the limit order book for Maruti Suzuki was highly skewed to the sell-side of the market. Roughly 63.99% of the total order quantity was on the ask-side of the book (representing sellers) with 26,840 shares at ₹12,842 versus only 36.01% of orders on the bid-side (buyers) with 15,101 shares at ₹12,841. The spread between the best bid and ask is very tight at just ₹1, but liquidity is razor thin at the top of the book with just 3 shares available at the ₹12,841 bid and 4 shares available at the ₹12,842 ask. On the bid-side liquidity improves only slightly to ₹12,835 with 7 shares available and ₹12,834 with 28 shares. Depth on the ask-side picks up more notably at ₹12,847 with 9 shares.

Quarterly Results: Maruti Suzuki Q4 FY26

Maruti Suzuki posted mixed quarterly numbers on Tuesday as it announced financial results for the quarter ended March 31, 2026, likely contributing to the sharp decline through the trading session.

Q4 Net Profit

Net profit in Q4 FY26 was ₹3,659 crore versus ₹3,911 crore in Q4 FY25, a decrease of about 6.5% year-on-year.

Revenue

Revenue from operations totalled approximately ₹52,463 crore for the quarter compared to ₹40,920 crore in Q4 FY25, an increase of roughly 28% due to the amalgamation of the operations of Suzuki Motor Gujarat with and into Maruti Suzuki with effect from April 01, 2025.

Total Income

Total income for the quarter stood at ₹5,29,46.40 crore compared to ₹4,24,31.30 crore in Q4 FY25. Maruti Suzuki’s profit before tax in Q4 FY26 was ₹49,18.4 crore compared to ₹49,18 crore in the year-ago period, essentially flat despite higher revenues as increased material costs ate into margins.

Cost of Materials

Cost of materials consumed nearly doubled to ₹3,51,69 crore from ₹2,33,33 crore as Maruti Suzuki absorbed the wholesale goods and inventory of Suzuki Motor Gujarat following the amalgamation of the latter company into Maruti Suzuki effective April 1, 2025. Basic earnings per share in Q4 FY26 was ₹116.38 compared to ₹124.40 in Q4 FY25.

Annual Results: Maruti Suzuki FY26

Consolidated net profit for the financial year FY26 increased to ₹1,46,795 million or ₹14,679 crore from ₹1,45,002 million or ₹14,500 crore in FY25 — an increase of roughly 1.2%. Consolidated revenue from operations was up sharply to ₹18,33,16 crore from ₹15,29,13 crore in FY25, an increase of approximately 20% due primarily to the restatement of comparatives following the amalgamation of the operations of Suzuki Motor Gujarat with and into Maruti Suzuki effective from April 01, 2025. Total income for FY26 totalled ₹18,76,73.20 crore compared to ₹15,79,35.20 crore in FY25. Profit before tax edged down to ₹1,91,18.5 crore from ₹1,96,20 crore as higher depreciation (up to ₹67,41.70 crore from ₹56,08.20 crore) and increasing material costs pressured the bottom line even as revenues grew sharply on volume improvements. Basic EPS for FY26 improved marginally to ₹466.90 versus ₹461.20 in FY25.

Board Recommends Dividend of ₹140

The Board of Directors at its meeting held today has recommended declaration of final dividend of ₹140 (one hundred and forty) per share of face value ₹5 each for the financial year 2025-26. The amount will aggregate to ₹44,016 million or ₹4,401.60 crore as compared to final dividend of ₹135 per share for the financial year ended March 31, 2025. The dividend is subject to approval by the shareholders at the annual general meeting to be held on August 31, 2026 and if approved will be paid on September 09, 2026 to those members who are on the company’s register as on the record date of August 07, 2026.

Source:

• https://nsearchives.nseindia.com/corporate/MARUTI_28042026145921_STxIntimation_QuickResults_31Mar2026.pdf
• https://www.nseindia.com/get-quote/equity/MARUTI/Maruti-Suzuki-India-Limited