Interim report
Page 1
MSIL: COS: NSE&BSE: 2026/10_11 27th October 2026 Vice President National Stock Exchange of India Limited “Exchange Plaza”, Bandra Kurla Complex Bandra (E) Mumbai - 400 051 General Manager Department of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001 Sub: 1) Un -Audit ed Financial Results for the quarter ended on 30th September 2026 2) Limited Review Report Dear Sir(s), Please find enclosed the following: 1) Un-audited f inancial results as approved by the board of directors in its meeting held today for the quarter ended 30th September 2026. (Annexure - “A”) 2) Limited Review Report (Annexure - “B”) The board meeting commenced at 11:50 a.m. and concluded at 3:15 p.m. Kindly take the same on record. Thanking You, Yours truly, For Maruti Suzuki India Limited Sanjeev Grover Executive Officer & Company Secretary
Page 2
MARUTI SUZUKI INDIA LIMITED Plot No. I , Nelson Mandela Road, Vasant Kunj, New Delhi - I 10070 CIN : L34 I 03DL I 98 I PLC0 I I 375 ; Website:urvw.marutisuzuki.com E-mail : investor@maruti.co.in ; Phone : + 9 I - I I -4678 I 000 Statement of Standalone Unaudited Financial Results for the quarter and half year ended Septemb er 30,2026 Particulars Half vear ended Year ended September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 March 31, 2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited Revenue from operations Sale ofproducts 506. I 55 499,591 40 1,3 58 I,005,746 767.564 I,743,695 Sale of sewices I 8.65 I t7,364 l 5,025 36,01s 28,584 59,346 Other operating revenues 8.596 7,602 6,940 16,198 l3.l05 29,62A I Total revenue from operalions 533-402 524-551 423,323 1,057.959 E09.2s3 t-832-661 II Other income 4-294 18,731 9,661 22.029 2E.540 43-91 9 III Total income (I+II) 537.700 s43.294 432,984 r,079.988 837.793 t-876.s80 Expenses Cost of matcrials consumcd 374.884 320.132 253,241 695,016 472,60: l.l 16.633 Purchases of stock-in-trade 59.369 54.361 66,800 I I 3,73C 123,818 231.74r Changes in inventories offinished goods, work-in-progress and stock-in-trade (28.387) 29,021 (15,472) 64A ( r 8,270) (22,709) Employee benefits expense 23,467 24.s69 20.456 48.036 40.888 90.290 Finance costs 677 635 572 1.3 l2 1.040 2.381 Depreciation and amortisation expenses 19.596 17,800 17.028 37.396 32.58s 67,405 Other expenses s8,016 54,837 48,074 I I 1,84? 94.665 205,09 I Vehicles / dies for own use ( 1.580) ( I,480) (624) (3.0601 ( 1.507) (2.887) Iv Total expenses 506.042 499^88r 390,075 1.004.91? 745.824 1.587.951 V Profit before tax ([II-IV) 31.658 43.413 42.909 75,071 91,969 188.629 Tax expense Current tax '1,147 8,724 9.723 15.871 20,079 43, l 83 Deferred tax 362 I, 168 158 1.53C 1.28t 992 VI Total tax exp€nse 7.509 9,892 9.88t t7.401 21.350 44,175 VII Prolit for the period/year (V-VI) 24.149 33.s2r 33,028 57,67n 70.609 144.454 Other comprehensive income (i) Itcms that will not bc rcclassified to profit or loss (a) Rc-mcasurcmcnts ofthc dcfined bcncfit olans (93) (77 s) 133 (868' (445) 506 (b) Fair value changes on equity instruments through othcr comprehensivc incomc 2,648 2,03C 2,9t4 4,678 7,455 5,171 z-555 1,255 3.043 3.810 7.010 5-683 (ii) Income tax relating to items that will not be reclassified to profit or loss (36e) (94\ (449) (463) (es4) (868) VIII Total other comprehensive income for the period/year (i+ii) 2,186 1,161 2,594 3,347 6,056 4,815 tx Total comprehensive income for the period/year (VII+VIII) 26,335 34,6E2 3s,622 61,017 76,665 149,269 x Paid-up equity share capital 1572 1572 I,572 1,572 |,572 1.572 XI Face valuc of the share (INR) 5 5 5 5 XII Other equity 1.049.s26 XIII Eamings per equity share (not annualised) Basic (lNR) 76.81 t06.62 105.05 183.43 224.58 459.46. Diluted (INR) 76.81 t06.62 105.05 183.43 224.58 459.4( ln share U NEW Fr' Annexure - "A"
Page 3
Statement of Standalone Unaudited Assets and Liabilities as at Scptember 30, 2026 tn As at September 10-2025 As at March 31, 2026Particulars Unaudited Audited A ASSETS Non-current assets Propertv. olant and equipment 382.089 334.083 Risht-of-usc asscts 4s.733 5.998 Capitai work-in-prosress 40.842 94,061 Intaneible assets 4.853 s.038 Intansible assets under develonment 5.222 4-321 Financial assets lnvestments 655.3 79 593.41 I Loans I Othcr financial asscts 10.722 7,332 Non-current tax assets (Net) 5.r96 5.24( Other non-cunent assets 37,443 28,819 I Total non-current assets 1.187.480 1.078.310 Current assets Inventories 128.02t tt3.l47 Financial assets t54.244Investments 43,390 Trade receivables 67.314 53,3 60 Cash and cash cquivalcnts 8.81 7 633 Othcr bank balanccs 5.1 40 l5.l3l Loans 433 441 Other financial assets 1,627 3,318 Other current assets 9) <') ) 48.83ti II Total current assets 337.264 389.1 l2 Total assets (l+II) 1.524.744 1.467.422 B EOUITY AND LIABILITIES Equitv Eouitv sharc caoital 1.572 1.572 Other equity t,066,526 t,049,52C I Total equity 1.068.098 t.051.098 Liabilities Non-current liabilities Financial liabilities Lease liabilities 434 628 Other financial liabilities 5 Provisions 991 I,060 Deferred tax liabilities (Net) 1 9.1 05 t7 .l t2 Other non-current liabilities 33.408 32.74'7 II Total non-current liabilities 53,944 51,552 Current liabilities Financial liabilities Borrowings Lcasc liabilitics 396 39'7 Trade payables Total outstanding dues of micro and small entemrises t,t49 2,601 Total outstanding dues of creditors olhcr than micro and small cntcrpriscs 257,096 218,713 Other financial liabilities 5'7.278 66.007 Othcr cuncnt liabilities 5 1.3 14 42,465 Provisions 19.646 20.687 Cuffent tax liabilities (Net) I s.823 13.902 III Total current liabilities 402.702 364.772 Total liabilities (II+III) 456.646 416.324 Total equitv and Iiabilities (I+lI+lII) r.524.744 1,467,422 * **
Page 4
Standalone unaudited Statement of Cash Flows for the half year ended September 30, 2026 tn Particulars Half ycar cndcd Scptember 30, 2026 I Inatrdif.d Scptcmbcr 30, 2025 rlnrndilod B. C. Cash flow from oDeratinp activities: Profit before lax 75.07r 9t.969 Adiustments for: Dcprcciation and amonisation cxpcnscs 37,396 32.s85 Finance costs I]l2 r 040 Interest income /562) (2;795\ Dividcnd incomc ()47\ (356) Nct loss on salc / discarding ofpropcrty, plant and cquipmcnt and caoital work-in-orosress 176 415 Nct eain on salc of invcstmcnts in dcbt mutual funds il 692\ il 302) Fair valuation gain on investment in debt murual funds ( I 8.6861 (2t.78't\ Utrealised foreisn exchanse (sain)/ loss ( r04) (691) OD€ratins Drolit before workins caDital chanses 92-664 s9_09n Adiustmcnts for chanees in workitrs croital : (lncrease)/decrease in other financial assets (non-curent) (3.390) n.8l0l (Incrcasc)/dccrcasc in othcr non-cuncnt asscts (246) 183 (lncrease)/decrease in inventories fl1.874r (39.:168) (lncrease)/decrease in trade receivables ( I 3.955) (7.563) (lncrcasc)/dccrcasc in advancc in thc naturc ofloans fcurrcnt) 8 45 (lncrease)/decrease in other financial assets (curent) t;791 {L26\, (lncrcasc)/dccrcasc in othcr cuncnt asscts (33.6841 (L6.446\, Incrcasc/(dccrc6c) in non-cuncnt Drovisions il661 (26\ Increase/(decrease) in other non-cunent liabilities 66t 0.3'14,, Increasc/(dccrcasc) in tmdc Davablcs 35.890 t5 30? Incrcasc/(dccrcmc) in othcr finanoial liabilitics (non-cuncnt) (51 Increase/(decrease) in other financial liabilities (curent) (1 1147) Incrcasc/(dccrcasc) in cunent provisions (l.8281 (646', Incrcasc/(dccrcdc) in othcr cu[cnt liabilitics I 78t 11 R)',1 Cash gcDerated from oDcrNtions 58.812 68-564 lncomc taxcs Daid (Nct ofrcfund) il4 019' rl 9 075', Net cash generated from ooeratins activities s4-733 49-48i Cash flows from investing activities: Paymcnts for purchasc ofpropcrty, plant ad cquipmcnt and capital work in progress (44,42'.7', (s6,728. Payments for purchas€ of intangible assets and intangible assets under dcvclopmcni (1.9631 (l,l78l Acouisilion ofrisht ofusc 6set ( 40 11'7 Proceeds from sale ofproperty. plant and equipment 65i 484 Procccds from salc ofdcbt rnutual funds sqq 75' 529.6ti Payrnents for purchase ofdebt & equity mutual funds (525.800' (490.111' Paments for Durchase ofunouoted investments ( l{ Paymcnts for Durchasc ofquotcd investmcnts /136) Proceeds from fixed deDosits with bmk r 0.00( ll.t5l lnterest received 45( 1.694 Dividcnd rcccivcd 247 356 Net cash outtlow from investins activities fi-225\ /4-91:l) Cash {lows from financitrs activities: Paymcil ofdividcnd on cquity sharcs (4r.0t 6) 42.441\ Rcpayment of lcasc liabilitics /tor\ lnterest on lease liabilities (43) (40) Finance costs Daid (other than interest on lease liabilitiest /r 06i\ (806) Net cash outflow from limncins activities (45324\ t43-[42\ Net Increase/(Decrease) in cash and cash couivalents 8-r84 t-114 Cash and cash eouivalents at the besimine ofthe Deriod 63i I RO? Cash and cash eouival€nts rt the end of the neriod E,EI? 2.936 Cash and cash equivalents comprises : Balmcc with banks t lt? 2 916 Deposits (less than 3 monrhs original maturity Deriod) 7.500 I tt, 2.936 Non{ash investins and financinc transactiotr; Acquisition of right-of-use assets 28C ExDort Dromotion CaDital Goods GEnts s4t 62 l-228 ..er?:r/ iL-i'if,J NE * *
Page 5
Notes to the Statement of Standalone Untudited Financial Results for the quarter and halfyear ended September 30, 2026: The above financial results have been prepared in accordance with the rccognition and measurement principles laid down in Ind AS 34 "lnterim Financial Reponing" prescribed under Section 133 ofthe Companics Act, 2013, read with the rclevant rules issued thereundcr and the other accounting principles gcnerally acccpted in India and in terms ofRegulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations 20 15, as amended. 2 The abovc financial rcsults wcrc reviewed by the Audit Commiltee and approved by the Board of Directors in thcir respective meetings held on October 27,2026- Thc limited revisw offinancial results for the quarter and halfyear ended September 30,2026, m requircd under Regulation 33 ofSEBI (Listing Obligations and Disclosure Requirements) Regulations, 201 5, has bcen performcd by the statutory auditors and they have issued an unmodificd report on the aforesaid results. The Company is primarily in the business ofmanufacturing, purchase and sale ofmotor vehicles, components and spare parts ("Automobiles"). The other activities of the Company comprise engineering and ancillary sewices, facilitation ofpre-owned car sales, fleet management and car hnancing. The income from these activities is not material in financial terms but such activities contribute significantly in generating demand for the products ofthe Company. Accordingly there are no reportable segnents. 4 The Ministry of Environment, Forest and Climate Change has notified the Environment Protection (Endof-Life Vehicles) Rules, 2025 ("the Rules') on January 6, 2025, which came into effect ftom April l, 2025. In accordance with the Rules, Extended Producer Responsibility (EPR) obligations are imposed on producers ("vehicle manufacturers/lmporters") for the scrapping of End-of-Life Vehicles. As per the Rules, such obligations are to be fulfilled through the purchase of EPR certificates from Registered Vehicle Scrapping Facilities via Centralised Online Portal, which has been made panially operational. However, the pricing mechanism for EPR cenificates, and measurement framework for detemining financial obligations are not yet made available. Consequently, the Company is cunently unable to reliably estimate a range of possible outcomes and the impact will be evaluated onc€ the implementation framework for detemining the reliable estimate is established. The Board ofDirectors at its meeting held on January 29,2025 had approved the Scheme ofAmalgamation ("Scheme") between the Company, Suaki Motor Gujarat Private Limited (a wholly omed subsidiary ofthe Company) and their respective shareholders and creditors as per the applicable provisions ofthe Companies Act, 2013 and rules framed thereunder. The Scheme was approved by the Honble National Company Law Tribunal, New Delhi ("Tribunal') vide its order dated November 06, 2025. The Company had filed the certified copy ofthe order issued by the Honble National Compmy Law Tribunal, with the Registrar ofcompanies, Delhi and accordingly, the Scheme became effective from Decemb et 0l , 2025 . In accordance with the said Ind AS principles, amalgamation of Suzuki Motor Cuj arat Private Limited has been given effect from April l, 2025 (Appointed Date) and the earlier published comparative figures for all prior periods presented in the standalone financial results have been restated. For and on Directors Place: New Delhi Date : October 27,2026 cEo * **
Page 6
MARUTI SUZI.KI I\DIA LI}IITED PIot No. l. Nclson Mandcla Road, Vasant Kunj. Ncw Dclhi - I 10070 ( IN : L34 l 03DLl98l PL( 0 1 1 375 ; Wcbsilc:w$v.maru(isuzuki.com ; Ejnail : in\ csor@maruti.co.in i Phonc : + 9 l -l 11678 I 000 Statcmcnt of Consolidstcd Unrudilcd Fin.nci.l Rcsulls for thc quartcr .nd hslfyc.r cndcd Scptcmbcr 30, 2026 Ouarter end€d Sepl€mber 30, 2026 Junc f0, 2n26 S€ptcmber 30, 2025 September 30, 2026 Septehber 30, March 3l 2026 Unaudit€d Unaudited Unaudited Unaudiled Unaudited Audited Rcvcnuc from opcretions Salc ofproducb i06.1 I I 499.625 40 t.187 t.005.806 761 61R r 741 810 Salc ofscn iccs ta.742 t1 4i7 t5.100 16.r99 2a 74R 59,6{tl )lhcr oDrralins rcvcnu€s 3 612 16)4a l1 I tr 29.65q I Totel Rcvenur from oDcralions t1\ 441 I O<t t<l 809.494 l -833.160 IT 4.136 18.740 9.462 2 1.870 28J44 41-572 rlr Tot.l lncome (l+II) s37.691 s43-438 {32-904 1.080.123 83?-838 t fl76112 ExDenses Cost oImatcrial5 consumcd 1?4 *85 472.610 l.l 16.635 Purchascs olstek-innradc 59.1t0 5r.39t 66.820 I ll.30l l?3.858 23 I.845 Changcs in invcntorics otfinishcd gmds. work-in-progrcss and stock-innmdc (23.3921 29,0t 9 (rs.472t 627 (r 8.266) (22,725) UmDlovcc bcilcfi 6 cxocnsc 2t 505 24 63R ?0 Jt2 48 r43 4t 005 90,497 677 57) I 3l? I O4n 2.187 DeDreciation and arnonisation exbenses rg sqg 32.590 6t.417 Olhcr cxpens€s 58.086 54-865 48.094 I I 1.945 94.709 205 233 Vehirles / dies forown lse {1.5801 I l_4801 (624 (]-060) d 5081 r7 RR7, s06-190 s00-003 190-t*4 l -00s-r87 746-014 I 6lt aot R9l I 498 2.591 \il 169 t32 264 VII Pmfir bcforc rsx (III-IV+V+VI) 32.19r 44.412 43.393 76.603 92.828 l9t.la5 Cutrcnl tax I ?it 4i.198 Dcictrcd tax t.t:4 l-192 VIII Tolal tax cxpcnsc 7.530 9.943 9.903 t7.41 3 2t-414 44-190 tx 24,661 34-469 3l-490 59-130 7l -414 r46 7Ct {hcr comDrchcnsivc incom€ : Ilems thar will nol be reclassified to orcfit or loss fa) Rc-mcaswcmonb ofthc dcfincd bcncfir Dlans 9 t7 501 (b) Fair vahc changos on cquiry instrumcnN through othcr comDrchcnsivc incomc 2,648 2,030 2,91 0 4.673 7,455 5,177 (c) Sharc ofothcr comprchcnsilc incomc in dseiatcs md ioirt venrures (l) I ll (2) t4 I 2.552 1.256 3.054 3.808 7-O24 5-681 lii) incomc iax rclating to irums lhal will not bc rcclassilicd to profit or ]oss (369) (94) (449) (46:l) (95,t) (868) Y 2.183 1.162 2.605 3345 6.070 4-811 xt Total comprehcnsivc income for thc pcriod (IX+X) 26-aU 35-6r 36.095 62-415 77-4U I 5l_604 Prolit for thc Dcriod attribut.blc ro : Owncrc ofrhc Comoanv 59 130 11 41 Non controllinc in(crcst 33.490 59,r30 71.414 t46-195 Othcr c.mDrchensivc in.omo for ih. n.dod rrrihnt,hL'.n ! C)wnes ofthe Company 2.1 8l 1.162 2.605 1.145 5.070 4.81 l Nonronlrolline iil€resr 2-18-3 t-162 2-50s 3-145 6-070 d-al1 )trl comDrehensive income for the mriod rttributable to : Ownc6 ol-thc Comoanv 11 !34 l5t,60E Noncontrollins intcrcst 26.E{4 35-63 I 36.095 62.{75 17.444 r5t.608 Yn Paid-up cquily sharc capital 1.572 1.512 t.s12 t.512 1.572 I S1a Ynr Facc valuc ofthc sharc (INR) 5 5 5 5 s 5 )thcr Equily xv Eamin6 Dcr couitv sharc (not annualiscd) Basic (lNR) 227.t4 466.90 Dilurcd rl\R) 18.44 109.63 t06.52 188.07 2?7.t4 466.90 .:,-;'. ..:2'. iP: .'l- |,'.-/,,'
Page 7
Statement of Consolidated Unaudited Assets and Liabilities as at September 30, 2026 Rin As at September f,o,2026 As at March 31, 2026 Particulars Iineuditcd Auditcd A ASSETS Non-current assets Propcfty, plant and cquipmcnt 382.412 334,t97 Rrght-ot-use assets 45.731 5.998 Capltal work-in-progrcss 40,842 94,062 lntangible assets 4.853 5,038 4.32i,lntanglble assets under development \ ))) lnvestments accounted for using the equity method 27,00'7 25,498 Financial assels lnvestments 650,601 s88.643 Loans 10.986 7.393Other tinanclal assets Non-cunent tax assets (Net) 5,2t4 { ,{o Defened tax assets (Net) l0 7 Other non-cunent assets 37,443 28,819 I fotal non-current assets 1,210,324 1,099,236 Current assets lnventories r28,090 I l 3,206 Financial asscts lnvcstmcnts 43,445 154,244 Trade receivables 67,423 53,420 Cash and cash equivalents 8,917 669 Othcr bank balances 5.t40 15, t3 I Loans 435 44t t,691 3,414Other financial assets 48,843Other cunent assets 82,553 Assets classified as held for sale 206 U Total current assets 337,694 3E9,574 Total assets (l+ll) 1,548,0r8 1,488,810 B EOUITY AND LIABILITIES Eouitv t,572Equity share capital t,572 1,069,991Othcr cquity 1,088,451 1,071,563Total eouiw r,090,023 Liabilities Non-currcnt lirbilitics Financial liabilities Lease liabilities 434 628 Othcr fi nancial liabilitics 5 Provisions 997 I,060 Defcncd tax liabilities (Nct) 20,062 18,00s Other non-cunent liabilities 33,408 32,747 tl Total non-current liabilities 54,90r 52,445 Current liabilities Financial liabilitics Lease liabilities 396 39'1 Tradc payables Total outstandine ducs ofmicro and small cntcmriscs I,1 65 2,6t2 Total outstandins dues ofcreditors other than micro and small enterDrises 257,135 zt8,726 66,008Other financial liabilities 57,280 42,465Othcr cuncnt liabilitics 5 t.640 Provisions 19,656 20,692 Cuncnt tax liabilitics (Nct) 15,822 t3,902 Iil Total current liabilities 403,094 364,8O2 457,995 4t7,247fotal liabilitics (Il + lIl) 1,548,018 r,488,8r0Total equity and liabilities ([+II+IU) NEI,V t t
Page 8
Consolidated Unaudited Statement of Cash Flows for the half year ended September 30,2026 tn Particulars Half year ended September J0,2026 September 30, 2025 Unaudited Unaudited A. Cash flow from oocratins activitics: Profit bcforc mx 76.603 92.828 Adiustm€nts lbr: Share of profit of associates (l.498' (895) Share ofprofit ofloint ventures fl 69' fl 32\ Share of dividend lrom ioint ventures / msociates t66 197 Deprcciation and amortisation cxpcnscs 37.402 32,s90 Financc costs 1.3 t2 I,040 lnterest income (570 (2.796\ Dividend income (80) 059) Net loss on sale / discardins ofDroDerty. olant and eouioment and caDital work-in-orosress t76 434 Expon Promotion Crcdit Guarantcc lncomc ( 1.139) Nct gain on salc of invcstmcnts in dcbt mutual funds ( 1.692) ( 1.302) Fair valuation gain on investment in debt mutual lunds ( llt.686) (2t.787\, Unrealised foreisn exchanse (sain)/ loss il 04) (691t Ooeratins orofit before workins caoital chans€s 92.860 98,187 Adiustments for chanses in workins caDital : (lncrcase)/dccrcasc in othcr financial asscts (non-cutrcnt) (3.3911 (l.810. (lncrcasc)/dccrcasc in othcr non-curcnt asscts (246) 184 (lncrease)/decrease in inventories ( l4.8li4 (39,369' (lncrease)/decreme in trade receivables (14.0041 ('7,56s', (lncreasel/decrease in advance in the nature of loans (cuftent) 6 39 (lncrcasc)/dccrcasc in othcr financial asscts (curcnt) I 798 (29& (lncrcasc)/dccrcasc in othcr cu[cnt asscts (33.7 I 0' ( I 0.005) Incrcase/(decreasc) in non-cunent orovisions (l 63' (261 lncrerue/(decrease) in other financial liabilities (non-curent) (5' Incre6e/(decrease) in other non-curent liabilities 661 0.374\ lncre6e/(decrease) in trade pavables 36.92t 17,579 lncrcasc/(dccrcasc) in olher financial liabilitics (cuncnt) (3.846' 4,358 lncreasc/(dccrcasc) in cuncnt provisrons ( 1.823' (646) lncrease/(decrease) in other cunent Iiabilities 9.1 t3 9,541 Cash generrt€d from oDerations 69,2a7 68.795 lncome taxes naid (Net of relirnd) (l 4 097) ( I 9.086r Net cash pcncrated from oDcratins activitics 55.190 49-709 B. Cash flows from investins activitics: Pavmcnts for ourchuc ofnroocnv- nlant md couiomcnt and capital work in oroscss (44.435) (56.734' Paymcnts for Durchase of intangiblc asscts and intangiblc asscts undcr dcveloDment ( 1.963) (1.1781 Acouisition ofrieht of usc asset @0.t37) Proceeds from sale of DroDerty. Dlant and equipment 657 485 Proceeds from sale of debt mutual fuds 599.752 529,617 Payments for purchue ofdebt & equity mutual funds (s2s.8s5l (490,t'13' Paymcnts for purchasc of mquotcd invcstmcnts ( l0l Pa\mcnts for puchasc of quotcd investmcnts (t]6l lnvestment in fixed deoosits with bank (282' (51 Proceeds from fixed deposits rvith bank 10.1 12 I t.180 lnterest received 463 1.694 Dividend received 80 ls9 Nct cash outflow from invcsting activitics (r,6r8' (5.t37) c. Cash flows from financine activities: Palment of dividend on equiw shares (44.0 l6) (42.444) Repayment of lease liabilities ( 197) ( 151) Interest on lcase liabilities (43) (44) Finance costs paid (other than interest on lease liabilities) ( 1.068) (802) !{et cash outllow from financins activities (4s.324\ (43.441) \let increase/(decrease) in cash and cash eouivalents 8.248 l.l3l Cash and cash eouivalents rt the besinnins of the Deriod 669 1.845 Cash and cash eouivalents at the end of the oeriod Cash and cash equiyalents comprises: 8,917 2.976 3ash md cheques on hand 2 Balmce with banks 8 9t4 2.974 8,917 2-976 \on-cash investins snd financing transactions: Acquisition of rieht-of-use assets 2RO Export promotion Capital Goods Grants 62 948 62 L22a I l{Etv *
Page 9
Notes to the Statement of Consolidated Unaudited Financial Results for the quarter and halfyear ended September 30' 2026: I The above financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 Interim Financial Reporting prescribed under Section 133 ofthe Companies Act,2013, read with the relevant rules issued thereunder and the other accounting principles generally accepted in India and in terms ofRegulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended. 2 The above financial results were reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on October 27,2026. The limited review of consolidated financial results for the quarter and half year ended September 30,2026, as required under Regulation 33 ofSEBI (ListingObligations and Disclosure Requirements) Regulations,20l5, has been performed by the statutory auditors and they have issued an unmodified report on the aforesaid results. 3 The Consolidated financial results include the results ofthe Company,2 subsidiaries, 14 associates and 3 joint ventures. The Company together with its subsidiaries is herein refened to as the Group. The Group is primarily in the business ofmanufacturing, purchase and sale of motor vehicles, components and spare parts ("Automobiles"). The other activities of the Group comprise engineering and ancilliary services, facilitation of pre-owned car sales, fleet management and car financing. The income from these activities is not material in financial terms but such activities contribute significantly in generating demand for the products of ihe Group. Accordingly there are no reportable segments. 4 The Ministry of Environment, Forest and Climate Change has notified the Environment Protection (End-of-Life Vehicles) Rules, 2025 ("the Rules") on January 6,2025, which came into effect from April 1,2025. ln accordance with the Rules, Extended Producer Responsibility (EPR) obligations are imposed on producers ("vehicle manufacturers/lmporters") for the scrapping of End-of-Life Vehicles. As per the Rules, such obligations are to be fulfilled through the purchase of EPR certificates from Registered Vehicle Scrapping Facilities via Centralised Online Portal, which has been made partially operational. However, the pricing mechanism for EPR certificates, and measurement framework for determining financial obligations are not yet made available. Consequently, the Company is cunently unable to reliably estimate a range of possible outcomes and the impact will be evaluated once the implementation framework for determining the reliable estimate is established. 5 The Board of Directors at its meeting held on January 29,2025 had approved the Scheme of Amalgamation ("Scheme") between the Company, Suzuki Motor Gujarat Private Limited (a wholly owned subsidiary of the Company) and their respgctive shareholders and creditors as per the applicable provisions of the Companies Act, 2013 and rules framed thereunder. The Scheme was approved by the Hon'ble National Company Law Tribunal, New Delhi ("Tribunal") vide its order dated November 06,2025. The Company had filed the certified copy ofthe order issued by the Hon'ble National Company Law Tribunal, with the Registrar ofCompanies, Delhi and accordingly, the Scheme became effective from December 01, 2025. There is no impact ofthe Scheme on the statement ofconsolidated financial results. For and on Place: New Delhi Date: October 27, 2026
Page 10
Price Waterhouse Chartered Accountants LtP Review Report To The Board of Directors Maruti Suzuki India Limited Plot r, Nelson Mandela Marg, Vasant Kunj, Delhi, LLooTo 1. We have reviewed the standalone unaudited financial results of Maruti Suzuki India Limited (the "Company'') for the quarter ended September go, zoz6 and the year to date results for the period April or, zoz6 to September go, zoz6 and the Statement of Assets and Liabilities as on that date and the Statement of Cash Flows for the half-year ended on that date which are included in the accompanying 'Statement of Standalone Unaudited Financial Results for the quarter and half year ended September go, 2026, Statement of Standalone Unaudited Assets and Liabilities as at September go, zoz6 and Standalone Unaudited Statement of Cash Flows for the half year ended September go,2026' (the "Statement"). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2o1S, as amended (the "Listing Regulations, 2ot5"), which has been initialled by us for identification purposes. The Statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review. 2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) z4ro, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. 3. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the applicable Accounting Standards prescribed under Section r33 of the Companies Act, 2org and other recognised accounting practices and policies and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. Price Waterhouse Chartered Accountants LLP, Building No. B, 8th Floor, Tower - B, DLF Cyber City, Gurugram - 122002 T: +91 (124) 6769910 Registered ofiice and Head otfice: 1'l -A, Vishnu Digamber Marg, Sucheta Bhawan, New Delhi - 1 10002 Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its lCAl registrition number is 012754N/N500016 (lCAl registration number before conversion was 0l 2754N) Annexure - "B"
Page 11
S. We draw attention to the following: i. Note 4 to the Statement, which describes the inability of the Company to reliably estimate and account for in the books its obligations under Extended Producer Responsibility ("EPR") as per the Environment Protection (End-of-Life Vehicles) Rules, zoz5, notified with effect from April r, zoz5, by the Ministry of Environment, Forest and Climate Change. ii. Note 5 to the Statement, which describes the Scheme of Amalgamation (the "Scheme") of Suzuki Motor Gujarat Private Limited (the "Transferor Company") with the Company, which was approved by the National Company Law Tribunal ("NCLT") vide its order dated November 6, zoz5. Accordingly, the earlier published comparative financial information has been restated in accordance with Appendix C "Business combinations of entities under common control" of Ind AS to3 "Business Combinations" as per the NCLT approved order. Our conclusion is not modified in respect of these matters. For Price Waterhouse Chartered Accountants LLP Firm Registration Number : orzT 54N I N5ooor6 Abhishek Rara Partner Membership Number: 077779 UDIN:2-4o 7")q AAI z c &,3, q 7 Place: Gurugram Date: October 27, zoz6
Page 12
Price Waterhouse Chartered Accountants LLP Review Report To The Board of Directors Maruti Suzuki India Limited Plot r, Nelson Mandela Marg, Vasant Kunj, Delhi, 11oo7o 1. We have reviewed the consolidated unaudited financial results of Maruti Suzuki India Limited (the "Holding Company"), its subsidiaries (the Holding Company and its subsidiaries hereinafter referred to as the "Group"), and its share of the net profit after tax and total comprehensive income of its joint ventures and associate companies (refer paragraph 4 below) for the quarter ended September go, zoz6 and the year to date results for the period April ot,20z6 to September go, zoz6 and the Consolidated Unaudited Statement of Assets and Liabilities as on that date and the Consolidated Unaudited Statement of Cash Flows for the half-year ended on that date which are included in the accompanylng 'statement of Consolidated Unaudited Financial Results for the quarter and half year ended September go,2cl26, Statement of Consolidated Unaudited Assets and Liabilities as at September 3o, zoz6 and Consolidated Unaudited Statement of Cash Flows for the half year ended September 3o, zoz6' (the "statement"). The Statement is being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations, 2olg"),which has been initialled by us for identification purposes. 2. This Statement, which is the responsibility of the Holding Company's Management and has been approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting", prescribed under Section r33 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibitity is to express a conclusion on the Statement based on our review. g. We conducted our review of the Statement in accordance with the Standard on Review Engagements CSRE') e4ro "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation gg (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,zots, as amended, to the extent applicable. Price Waterhouse Chartered Accountants LLP, Building No. 8, Bth Floor, Tower - B, DLF Cyber City, Gurugram - 722002 T: +91 (124) 6169910 Registered oflice and Head otfice: 1 l -A, Mshnu Digamber Marg, Sucheta Bhawan, New Delhi - 1 10002 Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN MC-5001) with effect from July 25,2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its lCAl registration number is 012754N/N500016 (lCAl registration number before conversion was 01 2754N)
Page 13
4. The Statement includes the results of the following entities: S. No. 1 Entity Maruti Suzuki India Limited Subsidiaries True Value Solutions Limited J.J. Impex (Delhi) Limited Associates Mark Exhaust Systems Limited Bellsonica Auto Component India Private Limited Bahucharaji Rail Corporation Limited FMI Automotive Components Private Limited Maruti Suzuki Insurance Broking Private Limited Hanon Climate Systems India Private Limited SKH Metals Limited Jay Bharat Maruti Limited Caparo Maruti Limited Machino Plastics Limited Bharat Seats Limited Krishna Maruti Limited Manesar Steel Processing India Private Limited Nippon Thermostat (India) Limited JointVentures Marelli Powertrain India Private Limited Maruti Suzuki Toyotsu India Private Limited Plastic Omnium Auto Inergy Manufacturing India Private Limited 2 3 4 5 6 7 8 9 10 11 t2 13 L4 15 16 t7 r8 19 20 S. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2o1S including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We draw attention to Note 4 to the Statement, which describes the inability of the Holding Company to reliably estimate and account for in the books its obligations under Extended Producer Responsibility CEPR ) as per the Environment Protection (End-of-Life Vehicles) Rules, zoz5, notified with effect from April r,2o2;,by the Ministry of Environment, Forest and Climate Change. Our conclusion is not modified in respect of this matter.
Page 14
7. The consolidated unaudited financial results include the interim financial information of z subsidiaries which have not been reviewed by their auditors, whose interim financial information reflect total assets of Rs. r,o87 million and net assets of Rs. 66+ million as at September 3o, zoz6 and total revenue of Rs. z3r million and Rs. 462 million, total net profit after tax of Rs. ro million and Rs. z6 million and total comprehensive income of Rs. ro million and million Rs. z6 million for the quarter ended September go,2crz6, and for the period from April ot, zoz6 to September 3o.,2026, respectively, and cash flows (net) of Rs. 8+ million for the period from April ot, zoz6 to September 30, 2026, as considered in the consolidated unaudited financial results. The consolidated unaudited financial results also include the Group's share of net profit after tax of Rs. 69o million and Rs. r,667 million and total comprehensive income of Rs. 624 million and Rs. r,6oz million for the quarter ended September go,2el26, and for period from April o!,2cr26, to September 9o,2026, respectively, as considered in the consolidated unaudited financial results, in respect of 14 associates and 3 joint ventures based on their interim financial information, which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group. Our conclusion on the Statement is not modified in respect of the above matter. For Price Waterhouse Chartered Accountants LLP Firm Registration Number: orz754N/N5ooor6 Abhishek Rara Partner Membership Number: 077779 UDIN: 4o7"Z?I be-SCtN e6l>z- Place: Gurugram Date: October 27, zoz6