MARUTI
Maruti Suzuki India Limited
India's largest carmaker, Suzuki's Indian arm — compact cars, SUVs and its first electric model
Consumer Discretionary›Automobile and Auto Components›Automobiles›Passenger Cars & Utility Vehicles
marutisuzuki.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹11489.00
Market cap
3,61,228 Cr
Stock P/E
25.2
P/B
3.37
Dividend yield
1.2%
ROE (FY26)
13.7%
ROCE (FY26)
18.1%
Operating margin (FY26)
8.0%
OCF / EBITDA (FY26)
89.0%
OCF / EBITDA (3Y)
86.5%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Maruti Suzuki (Maruti Suzuki India) makes cars, utility vehicles, vans and light commercial vehicles at its plants in Haryana and Gujarat and sells them to buyers in India and in export markets.
Company snapshot
1stBy market cap
Ranked among 7 companies in Passenger Cars & Utility Vehicles.
What we see
Positives
- ✓87% of operating profit came in as cash over the last three years — profits are backed by real cash.
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Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 37,073 Cr | 33,513 Cr | 38,471 Cr | 35,779 Cr | 37,449 Cr | 38,764 Cr | 40,920 Cr | 38,605 Cr | 42,344 Cr | 49,904 Cr | 52,463 Cr | 52,470 Cr |
| Operating expenses (approx.) | 32,283 Cr | 29,073 Cr | 33,250 Cr | 30,673 Cr | 32,450 Cr | 33,688 Cr | 36,076 Cr | 33,983 Cr | 37,258 Cr | 44,331 Cr | 46,304 Cr | 48,157 Cr |
| EBITDA | 4,790 Cr | 4,440 Cr | 5,221 Cr | 5,107 Cr | 4,999 Cr | 5,077 Cr | 4,844 Cr | 4,623 Cr | 5,086 Cr | 5,573 Cr | 6,158 Cr | 4,313 Cr |
| OPM % | 12.9% | 13.2% | 13.6% | 14.3% | 13.3% | 13.1% | 11.8% | 12.0% | 12.0% | 11.2% | 11.7% | 8.2% |
| Other income | 829 Cr | 996 Cr | 1,184 Cr | 1,061 Cr | 1,523 Cr | 1,058 Cr | 1,511 Cr | 1,888 Cr | 946 Cr | 1,055 Cr | 484 Cr | 1,874 Cr |
| Interest | 35 Cr | 36 Cr | 76 Cr | 57 Cr | 43 Cr | 46 Cr | 48 Cr | 47 Cr | 57 Cr | 62 Cr | 73 Cr | 64 Cr |
| Depreciation | 794 Cr | 1,302 Cr | 1,298 Cr | 1,332 Cr | 1,386 Cr | 1,429 Cr | 1,462 Cr | 1,556 Cr | 1,703 Cr | 1,735 Cr | 1,748 Cr | 1,780 Cr |
| Profit before tax | 4,848 Cr | 4,156 Cr | 5,108 Cr | 4,836 Cr | 5,141 Cr | 4,726 Cr | 4,918 Cr | 4,944 Cr | 4,339 Cr | 4,917 Cr | 4,918 Cr | 4,441 Cr |
| Tax % | 22.4% | 22.8% | 22.6% | 22.3% | 39.6% | 21.1% | 20.5% | 23.3% | 22.8% | 21.1% | 25.6% | 22.4% |
| Net profit | 3,764 Cr | 3,207 Cr | 3,952 Cr | 3,760 Cr | 3,103 Cr | 3,727 Cr | 3,911 Cr | 3,792 Cr | 3,349 Cr | 3,879 Cr | 3,659 Cr | 3,447 Cr |
| EPS (₹) | ₹124.61 | ₹102.00 | ₹125.71 | ₹119.58 | ₹98.68 | ₹118.54 | ₹124.40 | ₹120.62 | ₹106.52 | ₹123.38 | ₹116.38 | ₹109.63 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 77,316 Cr | 82,041 Cr | 86,069 Cr | 75,660 Cr | 70,372 Cr | 88,330 Cr | 1,17,571 Cr | 1,41,858 Cr | 1,52,913 Cr | 1,83,316 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 66,958 Cr | 69,978 Cr | 75,065 Cr | 68,347 Cr | 65,020 Cr | 82,624 Cr | 1,06,554 Cr | 1,23,332 Cr | 1,32,757 Cr | 1,61,860 Cr | Sign in free for the trailing twelve months |
| EBITDA | 10,358 Cr | 12,063 Cr | 11,003 Cr | 7,313 Cr | 5,352 Cr | 5,706 Cr | 11,018 Cr | 18,526 Cr | 20,156 Cr | 21,456 Cr | Sign in free for the trailing twelve months |
| OPM % | 13.4% | 14.7% | 12.8% | 9.7% | 7.6% | 6.5% | 9.4% | 13.1% | 13.2% | 11.7% | Sign in free for the trailing twelve months |
| Other income | 2,290 Cr | 2,046 Cr | 2,562 Cr | 3,334 Cr | 2,936 Cr | 1,745 Cr | 2,141 Cr | 4,094 Cr | 5,022 Cr | 4,357 Cr | Sign in free for the trailing twelve months |
| Interest | 89 Cr | 346 Cr | 76 Cr | 134 Cr | 102 Cr | 127 Cr | 187 Cr | 194 Cr | 194 Cr | 239 Cr | Sign in free for the trailing twelve months |
| Depreciation | 2,604 Cr | 2,760 Cr | 3,021 Cr | 3,528 Cr | 3,034 Cr | 2,789 Cr | 2,826 Cr | 5,256 Cr | 5,608 Cr | 6,742 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 10,127 Cr | 11,167 Cr | 10,624 Cr | 7,103 Cr | 5,321 Cr | 4,697 Cr | 10,323 Cr | 17,425 Cr | 19,620 Cr | 19,119 Cr | Sign in free for the trailing twelve months |
| Tax % | 25.8% | 29.4% | 28.0% | 20.1% | 17.5% | 17.4% | 20.5% | 22.6% | 26.1% | 23.2% | Sign in free for the trailing twelve months |
| Net profit | 7,511 Cr | 7,881 Cr | 7,651 Cr | 5,678 Cr | 4,389 Cr | 3,880 Cr | 8,211 Cr | 13,488 Cr | 14,500 Cr | 14,680 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹248.64 | ₹260.88 | ₹253.26 | ₹187.95 | ₹145.30 | ₹128.43 | ₹271.82 | ₹429.01 | ₹461.20 | ₹466.90 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 41.3% | 35.0% | 22.1% | 20.2% | 27.1% | 28.9% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 151 Cr | 151 Cr | 151 Cr | 151 Cr | 151 Cr | 151 Cr | 151 Cr | 157 Cr | 157 Cr | 157 Cr |
| Reserves | 36,924 Cr | 42,408 Cr | 46,941 Cr | 49,262 Cr | 52,350 Cr | 55,183 Cr | 61,640 Cr | 85,479 Cr | 96,083 Cr | 1,06,999 Cr |
| Borrowings | 484 Cr | 121 Cr | 158 Cr | 112 Cr | 492 Cr | 382 Cr | 1,216 Cr | 33 Cr | — | — |
| Other liabilities | 14,386 Cr | 17,552 Cr | 16,701 Cr | 14,084 Cr | 18,291 Cr | 18,940 Cr | 21,590 Cr | 29,684 Cr | 35,732 Cr | 41,725 Cr |
| Total liabilities | 51,961 Cr | 60,248 Cr | 63,969 Cr | 63,628 Cr | 71,283 Cr | 74,656 Cr | 84,597 Cr | 1,15,353 Cr | 1,31,972 Cr | 1,48,881 Cr |
| Fixed assets (net) | 12,938 Cr | 13,077 Cr | 14,986 Cr | 14,791 Cr | 14,179 Cr | 13,397 Cr | 17,283 Cr | 27,411 Cr | 32,493 Cr | 34,020 Cr |
| CWIP | 1,252 Cr | 2,132 Cr | 1,607 Cr | 1,344 Cr | 1,199 Cr | 2,646 Cr | 2,815 Cr | 7,504 Cr | 7,527 Cr | 9,406 Cr |
| Investments | 29,151 Cr | 36,123 Cr | 37,504 Cr | 37,488 Cr | 42,945 Cr | 42,035 Cr | 49,184 Cr | 57,296 Cr | 66,265 Cr | 76,839 Cr |
| Loans & advances | — | — | 16 Cr | 17 Cr | 23 Cr | 31 Cr | 30 Cr | 33 Cr | 43 Cr | 44 Cr |
| Inventories | 3,264 Cr | 3,160 Cr | 3,323 Cr | 3,214 Cr | 3,049 Cr | 3,532 Cr | 4,284 Cr | 5,318 Cr | 6,913 Cr | 11,321 Cr |
| Trade receivables | 1,203 Cr | 1,465 Cr | 2,313 Cr | 2,130 Cr | 1,280 Cr | 2,035 Cr | 3,301 Cr | 4,597 Cr | 6,540 Cr | 5,342 Cr |
| Cash & bank | 24 Cr | 74 Cr | 188 Cr | 29 Cr | 3,047 Cr | 35 Cr | 37 Cr | 2,660 Cr | 185 Cr | 67 Cr |
| Other assets | 4,130 Cr | 4,217 Cr | 4,033 Cr | 4,615 Cr | 5,561 Cr | 10,945 Cr | 7,663 Cr | 10,534 Cr | 12,006 Cr | 11,843 Cr |
| Total assets | 51,961 Cr | 60,248 Cr | 63,969 Cr | 63,628 Cr | 71,283 Cr | 74,656 Cr | 84,597 Cr | 1,15,353 Cr | 1,31,972 Cr | 1,48,881 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 10,282 Cr | 11,788 Cr | 6,601 Cr | 3,496 Cr | 8,687 Cr | 1,841 Cr | 9,251 Cr | 16,801 Cr | 16,136 Cr | 19,100 Cr |
| Cash from investing | -9,173 Cr | -8,302 Cr | -3,540 Cr | -557 Cr | -7,291 Cr | -588 Cr | -8,036 Cr | -11,865 Cr | -14,456 Cr | -14,733 Cr |
| Cash from financing | -1,129 Cr | -3,436 Cr | -2,948 Cr | -3,104 Cr | -1,545 Cr | -1,607 Cr | -1,213 Cr | -4,062 Cr | -4,155 Cr | -4,484 Cr |
| Net cash flow | -20 Cr | 50 Cr | 113 Cr | -165 Cr | -149 Cr | -355 Cr | 2 Cr | 874 Cr | -2,475 Cr | -118 Cr |
| Free cash flow (OCF − Capex) | 6,891 Cr | 7,876 Cr | 1,729 Cr | 59 Cr | 6,317 Cr | -1,619 Cr | 2,904 Cr | 7,601 Cr | 5,496 Cr | 8,702 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 27.2% | 27.0% | 22.6% | 14.6% | 10.2% | 8.7% | 16.7% | 20.6% | 20.6% | 18.1% |
| ROE % | 20.2% | 18.5% | 16.2% | 11.5% | 8.4% | 7.0% | 13.3% | 15.8% | 15.1% | 13.7% |
| Debtor days | 6 | 7 | 10 | 10 | 7 | 8 | 10 | 12 | 16 | 11 |
| Inventory days | 28 | 26 | 27 | 34 | 33 | 32 | 33 | 25 | 29 | 37 |
| Days payable | 71 | 85 | 78 | 79 | 111 | 89 | 92 | 79 | 85 | 72 |
| Cash conversion cycle | -38 | -53 | -41 | -35 | -71 | -49 | -48 | -42 | -41 | -25 |
| OCF / EBITDA % | 99.3% | 97.7% | 60.0% | 47.8% | 162.3% | 32.3% | 84.0% | 90.7% | 80.1% | 89.0% |
| OCF / EBITDA % (3 years) | — | — | 85.8% | 72.0% | 79.4% | 76.3% | 89.6% | 79.1% | 84.9% | 86.5% |
| Debt / equity | 0.01 | 0.0028 | 0.0033 | 0.0023 | 0.0094 | 0.0069 | 0.02 | 0.0004 | — | — |
| Current ratio | 0.66 | 0.51 | 0.87 | 0.75 | 1.15 | 0.99 | 0.58 | 0.87 | 0.97 | 1.07 |
| Net debt / EBITDA | 0.04 | 0.0039 | -0.0027 | 0.01 | -0.48 | 0.06 | 0.11 | -0.14 | -0.0092 | -0.0031 |