Maruti Suzuki’s Q2 paradox: record volumes, shrinking margins
Maruti Suzuki moved higher in a quarterly results development.
· LiveMint Markets
Revenue rose 26% as domestic demand surged, but higher commodity costs dragged Ebitda margin down 308 basis points to 8.9%.
The analysis
Maruti Suzuki reported movement of 26%, 8.9% and 308 basis points. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +1.1% on the day at ₹11,579.00, and has returned -16.1% over three months. It sits 33% below its 52-week high, which means a good deal of bad news was already in the price. The auto sector has moved -4.4% over the same period, so Maruti Suzuki is running 11.7 points behind its peers.
For Maruti Suzuki, the question is how much of this is already reflected in the price and how much re-rates the auto peer set alongside it.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- In focus: Maruti Suzuki (MARUTI), in Auto.
- Over three months: Maruti Suzuki -16.1% against Auto -4.4% (11.7 points behind).
- At least 25% below the 52-week high: Maruti Suzuki (33%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Maruti SuzukiMARUTI · Auto | ₹11,579.00 | +1.1% | -3.6% | -16.1% | -33.0% | 1.9× | — |
Auto
1M -4.7% · 3M -4.4%
Maruti Suzuki
Prices as of 28 Oct 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
In this story
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