Maruti Suzuki stock falls 1.69 percent as sales rise 24.4 percent

Published on 10/07/2026 at 09:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Maruti Suzuki stock traded at INR 11,429 on October 7, 2026, while Q1 FY27 revenue reached INR 52,455.7 million. Anand Rathi set a INR 16,250 target.

Maruti Suzuki, INE585B01010, Illustration mit AI erstellt.

Maruti Suzuki (INE585B01010) was trading at INR 11,429 on the NSE on October 7, 2026, down 1.69 percent during the session. The company sold 236,013 vehicles in September, up 24.4 percent from 189,665 units a year earlier, according to Maruti Suzuki on October 1, 2026.

September sales accelerate

The latest monthly figures provide the clearest operating signal for the stock. Domestic sales including light commercial vehicles reached 185,252 units, up from 135,711 in September 2025, while exports rose to 44,219 units from 42,204.

Utility vehicles were the main growth engine, with sales of 78,911 units compared with 48,695 a year earlier. Domestic passenger vehicle sales reached 181,838 units, an increase from 132,820, giving the September release a stronger volume profile than the headline total alone suggests.

Margins remain the counterweight

Volume growth has not removed the profitability issue. DSIJ reported that Q1 FY27 standalone revenue rose 36 percent year on year to INR 524,557 million, while adjusted PAT fell 11 percent to INR 33,521 million. EBITDA margin declined to 8.2 percent, down 380 basis points year on year and 350 basis points sequentially.

The comparison matters for investors because the sales rebound is arriving alongside higher input costs. DSIJ said commodity inflation accounted for 300 basis points of the sequential EBIT margin decline, including a temporary 110-basis-point effect from supplier settlements.

Anand Rathi cuts its target

DSIJ said Anand Rathi maintained a Buy rating on August 3, 2026, while reducing its target price to INR 16,250 from INR 17,800. The revised target lies 42.2 percent above the NSE price of INR 11,429, using the October 7, 2026 market level.

The report also cited a 130,000-unit order book and 13 days of dealer inventory at the end of Q1 FY27. Those figures frame the central tension: demand indicators are expanding, but margin recovery must follow for volume growth to translate into earnings growth.

Maruti Suzuki stock trades below its yearly high

Maruti Suzuki stock was trading at INR 11,429 on the NSE at 12:53 p.m. IST on October 7, 2026, with market capitalization of INR 3.6 trillion. The 52-week range was INR 11,305 to INR 17,370, leaving the share price closer to the lower boundary than the annual high.