Maruti Suzuki is expected to report a weak Q1, with low single-digit revenue growth and margins at multi-quarter lows.
Net profit is expected to decline 16% year-on-year to ₹3,078 crore, compared to ₹3,650 crore in the same quarter last year.
Revenue likely to rise 2% YoY to ₹36,190 crore as against ₹35,531 crore in Q1FY25.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter may decline 18% YoY to ₹3,694 crore as against ₹4,502 crore.
EBITDA margins for the quarter is seen at 10.2%, in comparison to 12.7% in the year-ago period.
Average Selling Price (ASP) is expected to rise 2% QoQ and 1% YoY, supported by a richer product mix.
Total volumes likely to decline 13% QoQ, but increase 1% YoY.
Key things to watch out for
– Low single-digit revenue growth
– Margin contraction due to lower gross margins
– Demand outlook and new product launch timelines
– ASP gains from a richer mix, partly offset by higher discounts
– Margin headwinds:
Negative operating leverage
Commodity cost pressures
Adverse forex movement
– Margin tailwinds:
Richer product mix
Reversal of one-time Q4FY25 costs
Lower advertising expenses
Maruti Suzuki India shares have recovered from the lows of the day, currently trading 0.63% lower at ₹12,538. The stock has risen 12% so far in 2025 ahead of the results.
