New Delhi — : Maruti Suzuki India Limited, India’s largest passenger vehicle maker and a subsidiary of Suzuki Motor Corporation, reported its audited financial results for the fourth quarter and full fiscal year ended March 31, 2026. The company also announced its highest-ever dividend payout, recommending ₹140 per share for shareholders.
Q4 FY26 Financial Performance (Standalone)
The automaker posted a net profit of ₹3,590 crore (approximately $430 million) in the fourth quarter, reflecting a 6% year-over-year decline compared to ₹3,794 crore in Q4 FY25, despite strong revenue growth.
- Revenue from Operations: ₹52,449 crore (up 28% YoY)
- Profit Before Tax: ₹4,830 crore (largely flat YoY)
- Earnings Per Share (EPS): ₹114.24 (vs ₹122.69 last year)
The revenue surge was driven by higher vehicle sales and improved pricing, though margins were slightly impacted.
Full-Year FY26 Performance (Standalone)
For the full fiscal year, Maruti Suzuki India Limited delivered steady growth:
- Net Profit: ₹14,415 crore (up 0.8% YoY)
- Revenue from Operations: ₹1,83,266 crore (up 20% YoY)
- EPS: ₹459.46 (vs ₹454.75 in FY25)
Record Dividend Announcement
The Board recommended a final dividend of ₹140 per share, marking the highest dividend in the company’s history.
- Total Dividend Payout: ₹4,401.6 crore
- Record Date: August 7, 2026
- Payment Date: September 9, 2026
- Annual General Meeting (AGM): August 31, 2026
This reflects the company’s strong cash position and commitment to shareholder returns.
Balance Sheet Strength
The company’s financial position remains robust:
- Total Assets: ₹1,46,742 crore (up from ₹1,29,133 crore)
- Total Equity: ₹1,05,110 crore (up from ₹94,427 crore)
- Cash & Cash Equivalents: ₹63 crore
Key Developments
Amalgamation of Gujarat Subsidiary
The merger of Suzuki Motor Gujarat Private Limited with Maruti Suzuki India Limited was approved by the National Company Law Tribunal and became effective December 1, 2025. Financials have been restated accordingly from April 1, 2025.
Labor Code Impact
Following new labor laws notified by the Government of India in November 2025, the company recorded an incremental expense of ₹59.39 crore, primarily related to gratuity and long-term employee benefits.
EPR Regulations Uncertainty
Under the newly introduced End-of-Life Vehicles Rules, 2025, automakers face Extended Producer Responsibility (EPR) obligations. However, due to the absence of a clear pricing mechanism and measurement framework, the company stated it cannot yet estimate the financial impact.
Consolidated FY26 Performance
On a consolidated basis, including subsidiaries:
- Net Profit: ₹14,620 crore (up 0.8% YoY)
- Revenue: ₹1,83,316 crore (up 20% YoY)
- EPS: ₹466.90
Audit and Compliance
The company’s statutory auditor, Price Waterhouse Chartered Accountants LLP, issued a clean (unmodified) audit opinion on both standalone and consolidated results, with emphasis on:
- EPR obligations under new environmental rules
- Accounting impact of the Gujarat subsidiary merger
Business Overview
Maruti Suzuki India Limited continues to operate primarily in the automobile segment, including manufacturing, sales, and servicing of passenger vehicles and components. No other segments were considered material for reporting.
Outlook
Despite a slight dip in quarterly profit, strong revenue growth, a solid balance sheet, and record shareholder payouts position Maruti Suzuki India Limited for continued leadership in India’s highly competitive automotive market.
