📌 Introduction
Maruti Suzuki India Ltd., India’s leading passenger car manufacturer, reported a robust financial performance in Q4 FY25. The company posted a strong YoY growth in profits and maintained a healthy operating margin despite cost pressures. Higher sales volumes and improved operating efficiencies drove the performance. Here’s a detailed breakdown of Maruti Suzuki’s Q4 FY25 earnings.
Source: [Company filings, Quarterly Results Image]
💰 Financial Highlights
- Sales Revenue: ₹40,920 Cr (↑ 6.8% QoQ | ↑ 6.4% YoY)
- Operating Profit: ₹4,844 Cr (↓ 4.6% QoQ | ↓ 7.2% YoY)
- Net Profit: ₹3,911 Cr (↑ 4.9% QoQ | ↓ 0.9% YoY)
- EPS: ₹124.40 (↑ 4.8% QoQ | ↓ 1% YoY)
- Operating Margin: 12% (Stable YoY | ↓ from 13% QoQ)
- Volume Growth: Positive trajectory backed by new model launches and steady demand
🪙 Dividend Announcement
Maruti Suzuki has announced a final dividend of ₹125 per share for FY25, maintaining its consistent dividend payout tradition. This reflects the company’s strong cash flow position and commitment to rewarding shareholders.
📊 Key Financials Metrics
| Metric | Q4 FY25 (Mar 2025) | Q3 FY25 (Dec 2024) | Q4 FY24 (Mar 2024) | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Sales Revenue (₹ Cr) | 40,920 | 38,764 | 38,471 | 5.60% | 6.40% |
| Expenses (₹ Cr) | 36,076 | 33,688 | 33,250 | 7.10% | 8.50% |
| Operating Profit (EBIT) | 4,844 | 5,076 | 5,221 | -4.60% | -7.20% |
| PBT (₹ Cr) | 4,918 | 4,726 | 5,108 | 4.10% | -3.70% |
| Net Profit (₹ Cr) | 3,911 | 3,727 | 3,952 | 4.90% | -0.90% |
📈 Key Financial Ratios
| Ratio | Q4 FY25 | Q3 FY25 | Q4 FY24 | QoQ Trend | YoY Trend |
|---|---|---|---|---|---|
| Operating Margin (%) | 12% | 13% | 14% | ↓ | ↓ |
| Net Profit Margin (%) | 9.60% | 9.60% | 10.30% | — | ↓ |
| EPS (₹) | 124.4 | 118.54 | 125.71 | ↑ | ↓ |
📊 Peer Comparison
| Company | CMP (₹) | Market Cap (₹ Cr) | P/E | P/B | ROE (%) | ROCE (%) | 52W High (₹) | 52W Low (₹) |
|---|---|---|---|---|---|---|---|---|
| Maruti Suzuki | 12,851 | 4,04,043 | 27.85 | 4.21 | 15.95 | 21.76 | 13,680 | 10,725 |
| M&M | 3,096 | 3,84,996 | 29.73 | 4.97 | 18.05 | 14.07 | 3,276.30 | 2,360.45 |
| Hyundai Motor India | 1,882 | 1,52,920 | 27.88 | 9.66 | 42.16 | 54.22 | 1,970 | 1,541.70 |
| Mercury EV-Tech | 64.43 | 1,224 | 185.45 | 15.41 | 3.05 | 2.96 | 139.2 | 51.24 |
| Hindustan Motors | 26.33 | 549.37 | 16.96 | 18.79 | 16.74 | 2.32 | 40.5 | 20.55 |
🧭 Strategic Developments
- Product Launches: New SUV variant launched in Q4, boosting market share.
- Production Expansion: Capacity ramp-up in Gujarat plant to meet demand.
- EV Strategy: Investments continue toward hybrid and EV technologies.
- Exports: Improved export volumes from India due to favorable demand.
✅ Positives & Negatives
👍 Positives This Quarter:
- Strong sales growth (↑6.8% QoQ)
- Resilient net profit despite cost pressures
- Consistent dividend payout
- Expansion in export footprint
- EPS beat expectations marginally
👎 Negatives / Challenges This Quarter:
- Operating margins declined QoQ and YoY
- Higher input costs and raw material inflation
- PBT and EBIT declined YoY
- Competitive pricing pressures in domestic market
📉 Market Reaction & Street View
- Stock Reaction: Maruti’s stock saw moderate gains post-results, reflecting investor confidence in sustained performance.
- Brokerage Views:
- Motilal Oswal: “Buy” with revised TP ₹14,000, citing solid retail trends and strong cash flows.
- ICICI Securities: Maintains “Add” with TP ₹13,750.
- HDFC Securities: Neutral; flagging margin pressure as a near-term headwind.
🧾 Final Outlook
Maruti Suzuki has delivered a stable quarter with strong topline growth and resilience in net profit amid margin pressures. The company remains focused on volume growth, innovation, and operational efficiencies. While near-term cost pressures persist, the long-term outlook remains positive driven by product innovation, export focus, and strategic EV plans.
🔗 External Links
For detailed financials and official updates, visit: (Official Company Site)
⚠️ Disclaimer
This summary is based on publicly available information from official filings, press releases, and financial news sources. It is provided for informational purposes only and does not constitute financial advice, investment recommendation, or an offer to buy or sell any securities. Readers are advised to conduct their own research or consult with a qualified financial advisor before making any investment decisions.