Maruti Suzuki profit slips on war squeeze as capacity expansion and SUV push loom

Margins take a hit from mark to market and production crunch

Maruti Suzuki’s March-quarter net profit fell as mark-to-market losses, rising input costs, and production constraints weighed on results. The auto major is now expanding capacity and expects margin improvement by FY30, supported by new SUV launches and accelerating EV momentum. Even with short-term pressure, FY26 delivered record volumes and strong sales.