Maruti Suzuki India (MARUTI) investor relations material

Business overview and market trends

• Achieved cumulative production of 30 million units by March 2024, with FY24-25 production at a record 2.1 million units, reflecting 6% year-on-year growth.

• Maintains a leading market share of over 40% in India's passenger car market, with the overall market reaching 5.14 million units in 2025.

• Largest demand growth expected in the middle-income segment, with significant expansion in household incomes projected through 2047.

• India benefits from a demographic dividend, with a young, employable population driving consumption and economic growth.

• Vehicle ownership rates remain low compared to developed markets, indicating substantial growth potential.

Strategic direction under the medium-term plan

• Focus on developing India as a global manufacturing base for automobiles and motorcycles, aligned with the Make in India initiative.

• Multi-pathway approach to mobility, including BEV, HEV, CNG, and biofuel vehicles, to achieve carbon neutrality.

• Expansion of premium (NEXA) and mass-market (ARENA) product lines, with targeted offerings for first-time buyers and premium customers.

• Proactive investment in charging infrastructure and support for biogas and circular economy initiatives.

• Collaboration with startups and support for social entrepreneurs to drive innovation and rural development.

Financial performance and GST impact

• Net sales for the first nine months of FY25-26 reached INR 1,451.1 billion, with operating profit at INR 145.5 billion, both showing strong year-on-year growth.

• GST reforms in September 2025 led to lower vehicle prices and increased first-time buyer share from 41% to 48%.

• Post-GST, compact cars performed well, and market share increased to 40.7%.

• The all-new "Victoris" SUV won the Indian Car of the Year (ICOTY) 2026 award.