Maruti Suzuki's net profit fell by 27% year-on-year in the second quarter of fiscal year 2027, mainly because of rising commodity prices. However, the company’s total revenue increased by 26% during the same period, showing strong sales growth despite cost pressures.
- Net profit declined 27% year-on-year in Q2 FY27.
- Total revenue rose 26% to ₹53,340 crore in Q2 FY27.
- EBITDA margin shrank from 12.01% to 8.93% due to higher costs.
- Highest-ever quarterly sales volume of 696,654 units recorded.
- Domestic passenger vehicle sales grew broadly, with SUVs up 68.2%.
- Exports slightly declined to 108,119 units in Q2 FY27.
- Half-year net sales reached a record ₹1,00,575 crore.
What caused Maruti Suzuki's net profit to fall despite higher revenue?
Maruti Suzuki’s net profit fell 27% year-on-year in Q2 FY27 because of increased commodity prices linked to geopolitical conflicts, particularly in West Asia. These higher input costs reduced the company’s operating profit margin, also known as EBITDA margin, which dropped from 12.01% to 8.93%. Although revenue increased due to strong sales, the rising costs weighed heavily on profitability.
How did Maruti Suzuki perform in terms of sales volume?
The company achieved its highest-ever quarterly sales volume of 696,654 units in Q2 FY27, marking a 26.5% increase compared to the same quarter last year. Domestic passenger vehicle sales showed broad-based growth, with small car sales rising by 35.9% and SUV sales increasing by 68.2%. This strong demand was supported by recent capacity expansions.
What were the export sales figures for Maruti Suzuki in Q2 FY27?
Despite a challenging geopolitical environment, Maruti Suzuki exported 108,119 units in Q2 FY27, slightly lower than the 110,487 units exported in the same quarter the previous year. The company continues to face some headwinds in international markets.
How did Maruti Suzuki perform in the first half of FY27?
In the first half of FY27, Maruti Suzuki recorded its highest-ever sales volume of 1,379,378 units, which is a 27.9% increase year-on-year. This included record domestic sales of 1,146,523 units and exports of 232,855 units. The company also posted its highest half-year net sales of ₹1,00,575 crore, up from ₹76,756 crore in the previous year. However, net profit for the half-year declined to ₹5,767 crore from ₹7,061 crore year-on-year.
What is the current market position of Maruti Suzuki shares?
As of October 27, 2026, Maruti Suzuki shares closed at ₹11,450 on the National Stock Exchange, up 2.05% on the day. Despite this gain, the stock has declined 31% since the start of the year. Over the last month, the shares fell by 4.6%, and over six months, they slipped 13%. The stock’s 52-week high was ₹17,370 on January 5, 2026, and its 52-week low was ₹10,985 on October 22, 2026. The company’s market capitalization stands at ₹3.60 lakh crore.
Frequently Asked Questions
Q: Why did Maruti Suzuki's EBITDA margin shrink in Q2 FY27?
A: The EBITDA margin shrank due to increased commodity prices linked to geopolitical conflicts, which raised input costs and reduced operating profitability.
Q: Did Maruti Suzuki's sales volume increase in Q2 FY27?
A: Yes, the company achieved its highest-ever quarterly sales volume of 696,654 units, a 26.5% increase year-on-year.
Q: How did exports perform for Maruti Suzuki in Q2 FY27?
A: Exports slightly declined to 108,119 units in Q2 FY27 compared to 110,487 units in the previous year’s quarter.
Q: What was Maruti Suzuki's net profit for the first half of FY27?
A: The net profit for H1 FY27 was ₹5,767 crore, down from ₹7,061 crore in H1 FY26.
