Maruti Suzuki India : Audited Financial Results for the quarter ended 31st March 2026

Published: 2026-04-28 10:49:17 ET MARUTI.NS

Published on 04/28/2026 at 10:49 am EDT

1 tR1!1’I S£ I!KI INDIA LI5tI*I'EIJ

Plot Nc. I. Ncls‹›n Mandela R‹›ud. Vasant Kunj, Ncv Delhi • I I007tl L'IN L34 l03Dl. 108 I Pt.L'0 1137a . Website:›vvv.marutisuzuki.cnin .

l/-itail : invcstcr«/,maruti.co.in : l'huitc ! + *JI - I I -46781 OOU : Fax: +' I -I I-4hI 5U27ñ

Statement of Standalone Audited Financial Results for the quarter and year ended March 31, 202é

(Ink In million, except per sham daln!

f}uarter eaded

1‘eur ended

Ilurch JI,

2026

December 3t.

202.6

Mnrch JI,

2021

March 3I,

2U26

March 3t,

2025

Audited fRtfer Nete 81

L!naudited

tRefer Nole gJ

›tudited

.4udlted

Revenue from operations

Sale of’ products

50078?

388.391

1,743,695

1,450,980

I 4,7R5

13.977

14.710

39.346

14.152

Either operalnlg rcvcnucs

8,92 I

7.594

5,993

29,620

23,547

Totul Revenue from operations

524,493

409,096

1,832,661

1,528,679

Other Income

4,398

1.8,282

4J,9I9

50,647

III

Total Incume (I+II]

fi29,491

509,458

424,378

l,876,fi8t

1579,326

Exoenses

L”ost oI"mat«naIs consuitted

351.689

202.339

233,327

I, I IG,633

873183

Purchases uf'stock-in-trade

49.408

58,515

6I,6I3

231,74 I

213.927

Changes in inventcrim or n »h d gauls, work-in•prugrvss Ond stuck-in-trade

t 1h,258

I 1,819

(5,755

(22,709

(12,274

ftn›gIogcc benefits expense

22.473

26.929

17,98 I

90,290

70.037

Finance costs

730

617

476

2.367

1,942

Depreciation and amertisstiun expenses

I7,47?

17.343

67.403

56,070

Other expenses

56,502

54.086

'4.068

205,091

186.043

Vehicle / dies 'ur own use

(890

(490

(534

(2.887

(3,749

Totul Expenses

J71,760

l,687,9fil

1,38.8,199

¥’

Profit befort tax (I 11-lVl

188,629

I9d,l27

’Fax expeasr

Current iax

I4. 120

8,9114

8.704

43, 183

38,811

Deltrred tax

( L665

1,376

1,341

992

12,34f

Tolal tax esnense

10J60

YII

Profit for the period (Y-VI}

37,940

38»$73

Other comareheneive Income

(i) hunts that will not be reclassified tc profit or luss

(a) Ru-measurements of the dcliited benefit plans

411

540

t47

J06

(868

(h) Fuir value changes un equity instruments through other comprehensive incumc

3,907

I4.582

5,177

l,3h3

J,4J7

S,683

(iil lncotnu tax relating to items that will not be reclassified to profit or loss

781

h74

t8fi8

(148

¥'Ill

Total other comprehensive Income for ihe period (1+li)

3,7S2

JJ7

Total comprehensive Income for the period (YII+VIIIj

30,912

JI.692

149,269

143,323

I'aid-up equity sharc capital

1,572

1.572

f'ecc value of”the share (INR)

XII

father uquil'

1,049,526

942,701

XIII

f.amines Dur cquitY share (not annuuliscd)

Besic

114.20

120.67

t22.69

459.46

454.75

I 14.20

I20.67

122.69

45t/.46

Ststement of 9tandalone Audited Asseo a44 Lbbillties

As at !March 3!, 2036

As et Mcrch JI, 2025

Audited

I^9SET9

IN n-current assets

Propeny, plant end equipmmt

Right-ot•use assets

5.998

5,ss0

C«piid work•in•progrsgs

94,061

75,272

Intangible sssets

3,03s

4.901

lntangihlc assets under development

4.321

4,018

593.41 I

36).048

Other flomcial arses

7,332

2.97B

Non•cuwot tax arms fNn)

5,246

4.962

Other nbn-current assets

28.819

28.)02

113,147

69 088

Financial aasets

154,244

Trade receivables

53,360

65,349J

Cth and cut equivalents

633

1,802|

Other bank balances

1st.131

3 681|

441

43z|

Othert]nanciaI assets

3,318

38,6S8|

Othercurmnt assets

48.838

32,g6S|

Total current sssefs

389,112

oia‹ a»«*/.i+tab

467,422

1,291,328

EQUITY AND LIABILITIES

Equlty share capital

1,572

I.572|

Other oquity

1,049.52b

942,70t|

944,373|

’ j

Llabllltlei

Financial liabilities

LoweibilGGs

586§

OihcrKnanGal4 bi|%I

1.060

I,260J

neferred tax iiabiiiti6 (Nst)

)7,112

15.252J

Other non-cutestllabilities

32.747

33 819J

51552

s0,922

Current iixbiIi«ss

Finznciél Iiabil(tics

Lease liabilities

397

2B4|

Tmde payables

Totnl outstanding docs a/ mioro and

small mtoptims

2.6t

2,047

Total ouBtanding dues of creditors

otherthan micro and small cnlvrpriies

216.713

167.167

Other financialliabilities

66.007

63,303|

Other curreni liabilities

42.465

32,936|

Pmvisions

20.687

l3,639|

Current tax liabilities (Net)

i3,9O2

12,737]

T I

4i« 24

“Wz 67.423

347 08S

1‹›tcs t‹› the talt n›i:nt nF htxndxI‹›nt .tudlI«J ''inoncial ltcsiilts f‹›r the: qu»rtci’ xi›d y.tar cndrd fibreIt 3I, 2fy6:

1 lHf2 : Nc» bclhi hate : April 28, 2026

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Plot Ng I . Nell» MaiJeIa Roast, Vasxnl Kunj, Now Delhi • I lod7u

CIN {J4 IDZDL.I 96 PI.CO] j 371 , Wgbxltg www rneryiisuz.uk‹,ciom ,

fi.•msiI tnvostar*imaruti u•o in , Phonc i 9I•I l •4678I000 , Fax. +9I-I I-46l S027S fitatamenl ofFonselld ited Audted I''InunrIzt Res‹ilcs fbr the quarter and year ended March 3I, 2fg6

(INR In riIIllon‹ ssrej I p•r shur dala)

Mxrsh 6.

m•rsh 3z,

Audited

Audlfrd

Audited

473272

J88,4IS

I.742,RZn

Sale nf aarviccs

1.4.859

1.6.OM

.]4,7g3

$9.§B

fJthar operating rwtnuss

a,qs0

7.6B6

fi,997

2s.6s9

13.s7d

”Fatal Revenue h"DM operations

lS,tlt

4T#7J

fi29,d64

414 J

lS76,73J

2'TT,Jj6

873, I83

Purchaaa» nf stosk•i••tr«de

4v.448

fi5,349

6I.636

23I .8aS

214.00D

Changes in invsntsrloy of‘ nfllBhed gaod& w rk•in•progfgs3 end 9iuck•jn-trado

I I ,gI0

fS,771)

impltiyTg benchin mpan44

2f,483

la.o06

90.497

70.Sdn

I sprvrieiinn and amnriiaslion cxj;cnsss

I 7_,48t

17546

I1,6lg

67.417

56.ng2

tether enemas

54.lt6

14.III

28fi,2?J

86.I4B

Vahiclns diss fur own use

(R9O)

(490)

(fi14)

(*,8B7’

{3.740)

3’gtul rzpañsai

475,¥S5

T,6$&dB2

t,Za9,S9I

6kare at profi sfacs‹icictss

800

629

2.591

2.1 f2

Ghare ofprollt of]sInt vsnaurm

’54

2b4

8,986

B,7D9

13. I9S

Dsfñnsé in

I ,796

1.l9t

VIII

Toial tas sxpon»e

t04B2

44J9D

[i) Itema zhat v/i1I Biol ba raclnBsificd to grnñ›t nr lugs

ta) Wrneasuramonts oFthc dsfinsd bsnsfif pIaas

4tJ8

t17)

(by Fair value thznger on equity ›n•f umonts through

3, I77

1.363

tcj Shara of othsr comprehansiva income in asaoc rez

azd joint vgnturss

II 7j

(I j

ilO)

711

f6l5j

{86B)

1‘otaI other somprshsasfve t•zone for lheperiod (f*7i)

4,413

Tel«l vo ipra8anntve lncame fbr thy psrfsd trx*EJ

dz 647

Pr Pitt far tba perlod attributable t« :

q,i i

Ownera oFthc Company

36.590

l4fi.195

Non controlling iñt•ra3t

Otber comprshrnatvr inssme far tha period attrlbufablr tg

Owpcrs of the Company

3,7S6

4.813

337

4,81J

3J7

Tolnl crimprrhsnilv+ incona for the sorted oudh•it»ble to :

Oumaii of the Company

Off

Pa›d-up equity zJuvv p M

1.572

I .572

xiii

Faco value of the shqrg fJNR)

HIV

Camingsjisr gquny ahare (not annualisad)

116.3fi

12Q00

466.9ti

4tiI 20

I2.11R

12460

d66.90

4fiI .in

Price Waterhouse Chartered Accountants LLP

We have audited the accompanying standalone annual financial results ofMaruti Suzuki India Limited (the "Company") for the year ended March 3*, 2O2é and the Statement of Standalone Audited Aisets and Liabilities as on that date and the Standalone Audited Statement of Cash Flows for the year ended on that date, attached herewith, which are included in the accompanying ‘Statement of Standalone Audited Financial Results for the quarter and year ended March 31, 2026’ (together referred to as the "standalone financial results") being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20 5. « amended (the "Listing Regulations") which has been initialled by us only for identification purposes.

In our opinion and to the best of our information and according to the explanations given to us, the standalone financial results:

are presented in accordance with the requirements of Regulatio• 33 Of the Listing Regulations in

this regard; and

give a true and fair view in conformity with the recognition and measurement principles laid down

in the applicable Indian Accounting Standards prescribed under S0etion 3a of the Companies Act,

* *3 (the"Act") and other accounting principles generally accepted in lndla, of net profit and other comprehensive income and other financial information of the Company for the year ended March 3 . «os6and the Standalone Statement of Audited Assets and Liabilities and the Standalone Audited Statement ofCesh Flows as at and for the year ended on that date.

We conducted our audit in accordance with the Standards on Auditing t9As) speeifted under Section

*4s(io) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. Our responsibilities under those Standards are further described in the ‘Auditor's Responsibilities for the Audit of the Standalone Financial Results’ section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Gde of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Price Waterhouse Churtured Accountants LLP, building Nc. 8, 8th F•loor, lower - B, I3LP Cyber Ciry, Gurugrafn - t22 002

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peglstced office and Heed office: I •A, Vlahnu Olgamber Marg, 9uchaa Bhowañ, New Dalt›l - 11 g002

Prlce Waterhouaa (a porlnerehip Firm) convened Into Priaa Wgtarhoues Charlgred Acco+nlanla LLP (a Llmited Liablllly Partna‹ahlp wilh LLP Id•nIily no: LLPIN AAC-SOON) wllh effect from July 25, 9o i 4. Poet Its convefcinn jn Prlca Walerhouse Chartered Accounlan!a L,L P, Its lCAl tegl•!ratlon number Is 0127S4N/N500U16 (ICAI raglstrittion number beforo col+vetslun was U12754N)

Independent Auditor's Report

To the BoardOfDirectorsofMaruti Suzuki India Limited

Rep9rt on the Standalone Fittanciml Results

Page 0 Of4

Bmphaais,of Matter

We drawattentionto the following:

Note s to the Standalone financial results, 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 tEnd-nf-Life Vehicle8) Rules, no•s. notified with effect frons April 1, 202$, by the Ministry pf Environment, Foreat and Climate Change.

Note 6 to the standalonefinancial results, which describes the 8cheme of Amalgamation “Scheme") of Suzuki Motor Gujarat Private Limited (the “Transferor Company”J with ie I:ompany, whichhas been approved by the National CompanyLaw Tribunal t‘NCLT") vide its order dated November 6, •••s. *t<»niingly, these standalone fiiiancial results have been prepared after giving effect ta the 8chertie andthe compamtive financial information has been restated in accordance with Appendix C "Business combinations of enfities under common control" ofInd AS tO3“BusinessCombinatinns" aa per the NCLT approved order.

Our opinion is not modifiadinrespectof the abnve matters.

Boar8 of Dlrectora’ Responsibilities for the Sitandalnne Financial Rew Is

These standalonefinancial results have been prepared on the basis of the standalone annual financial statements. The Company's Board of Directors are responsible km the preparation andpresentation of these standalone financial results that give a irue and fair view of the net profit and other comprehensiveiniiome and other financial information .of the Company an‹i the Statement of Standalone Audited Assets and Liabilities and the Standalone Audited Statement nf Cash Hows in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Sectionly3 of the Ant read with relevant rules issued thereunderand other accounting principles generally accepted in India and in compliance with Regulation 33 »*<eListtng Regulations. The Board of Directors of the company are responsible for maintenance of adequate accounting records ia accordance with the profisions of the Ant for safeguarding of the assets of the Company and for preventing and detecting frauds and other irragularitiec; selectionand application of appropriate accounting policies; makingjudgmentaand estimates that arereasonable andprudent; and the design, implementation and maintenance of adequate internal financial controls, that were Operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial statements that give a true and fair view and are fr»e from maierial misstatement, whether due to fraid or error, which have beentised for the purpose ofpreparation of the standalone financial results hythe Directors of the Company, as aforesaid.

In preparing the standalone financialresults, the Board of Directors of the Coinpany are responsible for ascending the ability of the Company to continue as a going concern, disclosing, as applicable, ma ters related to going concern and using the going concern basia of accounting unless ie BD8rd of Directors either inten& to liquidate the Company or to cease opemtions, orhas no realistic alternative but to do so.

y. The Board of Dirof the Company an responsible for overseeing the ñnancél reportingprocess

of the Company.

AudNér*Rmponm5Mflmsferthc &teftheStosAflonePWariMRmM*

Our objectives an to obtain reasonable assurance about whether%e standalonefinancial resule as a

«hole are kee from inaterial misstatement, whether due to fraud or Rrror, and to issue an ,audtor's report th8t includesour opinion. Reasonable assurance is a high level of assurañce, but is not a

Independent Auditor's Report

To the Board ofDlmctori ofMaruti Suzuki Indla Limited Report on the Standalfiiie Financial Results

Page 3 0f

guarantee that an audit conducted in accordancewith 8As will always detect a material misstatement when it exists. MisstatemeniS can arise from fraud or error and are considered mateñal if, individually or in the aggregate, they could reasonably be expected to influencethe economic decisions of users taken on the basis of these standalone financial results.

As part of an audit in accordance with S&, we uercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks ofmterial misstatemeni of the standalone financial results, whether due to hand or error, design and perform audit proéedurN responsiveto those risks, and obtain audit evidRnce that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting amaterial misstatement resulting from Maud is higher than for one resulting from errnr, as fraud may involvecnllusion,forgery, intentional omissions, misrepresentatinna, or the override of intRrnal control.

Obtain an understanding of internal control relevant to the audit in order to deign audlt p cedur that are appropriate in the circumstances. UnderSection ip(3)(i) of the Act, we are also responsible for expre6siiig our opinion on whether the company has adequate internal fihaiiclal controls with refereate to financialstatement inplace and the operating effectiveness of

o Evaluate the appropriateness of accounting policies used and the reasonableness of accounting

estimate andrelated disclosures made by the Board of Directnrs.

< Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, basedon the,aud1t evidence nbtained, whether amaterid uncertainty exists related to events or conditions that may ea5t significant doubt onthe abiliQ ofie Company to continue as a going concern. If we conclude that amaterial unce<>exists, we are required todrawanention in our auditor's report to the related d closures in the standalone financial results or, if such disclosures art inadequate, to modify our opinion. Our Conclusions are based on the audit evidence obtained up to the date ofour auditnr's report. However, future events or conditions may cause the Company to cease to continueaS a going concern.

Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures; and whetherthe standalone financial results represent the underlying transactinns and events in a manner that achievesfair presentation.

to., We commuaicaté with those charged with governance ofthe Companyregarding,,amnngnther matters, the planned scope and timing of the audit and aignifiunt audit findings, including any ,significant deficiencies in internal contr'ol that w identify durlng our audit.

We also provide thosechargedwith governance with a statement that we have complied with relevant ethicalrequirements regarding independence, and tn cnmmunicate with them all relation6hipaand other matters that may reasonably be thought to bear on our independence, and where Applicable, ralated safegcezds.

Other vaners

iz. Thñ standalone fihâncial results include the results for the quarter ended March 3i, aoa6 being the balancing figures between the audited figures in respect nf the full financial par and the published unauditedyear to date figuresup to the third quarter of the currentfinancialyear, whlch wera subject to limited review by w.

Independent Auditor’s Repnrt

To the 8oard ofDirectors ofMaruti Suzuki India Limited

8n9ort on the Standalone Financial Results

Page q of 9

The standalone financial statements of the Companyfpr theyear ended Maxh 3*. zoz5, were audited by prior auditDfi8 l2nder the Act wtio, vide their report dated April 25, o>+5.expressed anunmodif"uxl opinionon thosefinancial statements.

Por Price WaterhouseChartered Accountants LLP Firm Registration Number: oiz754 /H,5OfiDi6

Abhishek Rara

Partner

Membership Number: o77779

UOIN: z6<7W79QH 7 7

Place: New Delhi Dste: April e8, zoe6

Price Waterhouse Chartered Accountants LLP

Independent Auditor's Report

To the Board ofDirectors of MaruB Suzuki India Limlted Report on the Audit of Consolidated Financial Results Opinion

i. We have audited the accompanying consolidated annual financial results of Maruti 9uzuki India Limited (the ‘Holding Company") andits subsidiaries (Holding Company and its subsidiaries together referred to at "the Group”), its asaociaiea and joint ventures (refer note 3 to the conaolid8tCd flnnual financial results) for the year ended March 3i, zoz6 and the Statement ofConsolidated Audited Assets and Liabilities as on that date andthe Consolidated AuditedStatemenntfCash Plows fur the year ended on that daleattachedherewith, which are included in the accompanying ’Statement of Consolidated Audited Financial Results for the quarter and year ended Miirch 1, zO26‘ (the “consolidated financial results”),) being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Lisfing Obligations and Disclosure Requirements) Regulations, Lois. as amended (tke "Listing Regulations") whichhab been initialledby na only for identificatinnpurposes.

s. In our opinion and to the beat of our information and according to the explanations given to ua and based on the consideration of reports of other auditors on separate audited financial statements of thC subsidiaries and financial information of associates and joint ventures, the aforesaid consolidated fuiancial reaulta'

include the annual financial results of thefollowingentities:

Maruti Suzuki India Limited - Holding Com{iany

True Value Solutions Umited

I.I, Im9ex (Delhi) Limited

Associates

Mark Exhaust Systems Limited

Bellsonica Auto Component India Private Limited

Bahucharaji Rail Corporation Limited

FMI Automotive ComponentsPrivate Limited

Maruti 9uzuki Insurance Broking Private Limited

Hanon Climte Systems India Private Limited

SKHMetals Limited

day Bharat Maruti Limited

‹z

Ca9aro Maruti Limited

‹3

Machino Plastics Limited

Bharat 8eats Limited

Krislma Maruti Gtnfted

Manesar i$teel Proces8ing India Private Limited

Niqqon Thermostat flndia) Limited

Jnlnt Ventures

Marelli Powertrain India Private Limited

Maruti Suzuki Toyotsu India Private Limited

›o

Plastic Omnium Auto Inergy ManufacturingIndia Private Limited

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Independent Auditor's Sport

To lhe Board of Directors of ldamii Suiuki Itidta Limited Repfirt on the Congolldfited Financial Results

are presented in accordance with the requiremerits of Regulatio• 33 *** tllR Lifltifig Regulations in

thlB regard; and

give atrue and fair view in conformity with the recogpition and measurement principles laid doin in the applicable Indian Accounting Standards prescribed under ge»«•• 33 of the Companies Act, 20 3 (the‘Ant”)and oler accounting principles generally accepted in India, ofnet pmfit and oth«r comprehensive in>me and other financial lflfDrmatioIt Of the Group, its ,associates and joint venture for the year ended March 3i, zoz6 and the Statement of Conco!idated AuditedAssets and Liabilities and the Consolidated Audited Statement of Cash Flows as at and for the year ended on that date.

BBBi8 ION Opinion

3. We conducted our audit in accordance with the Standards on Auditing (SAsl épecified under Edition

1 (io) of the Act and other applicable authoritative pronDUHcements issued by the Institute of Chartered Accnuntants of India. Our msponsibilities under those Standards are further described in the'Auditor's Responsibilitiesfor the Audit oflhe Consolidated FinancialResults'section ofour report. We ate independent otthe Group, its associatesand joint ventures in accordance withthe Code ofEthics issued by the Institute of Chartered Accountants of India together with the ethical requirementsthat are relevant to our audit of the financial statements under the provisions nf the Act and the Rules thereunder, aid o» have fulfilled our other ethical ré ponsibilities in accnrdance with these requirements and the Code of Ethics. We b£ieve that the audit R dence obtained by us and other auditors in terms of their reports referred to in “Other Matter” pamgraph balow, is aufficient and appropriate to provide abaais for our npinioii.

4• We draw attention to N••= s to the consolidated financial results, which describes the inability of the Holding Company to reliably estimate and account for in the books its obligations under Extended ProducerResponsibility(‘EPR’) asper the flnvirnnment Protection (End-of-Life Vehicles) Rules, zoz5, notified with eifect from April i, 2025.by the Ministry ofEnvironment, Forest and Climate Change.

Our Dpinion is not modified in respect of this matter.

Board of Directors' Reaponnlbilities for the Wnsolidated Plnanclal Results

$. These Consolidated financial results have béen prepared dn the basis of the consolidated annual Cnanci8l Otatementa. ’the Holding Company's Board of Directorâ art responsible for the preparation and presentation of these consolidated finaneial results that give a true and fair view of the net profit and other comprehensive income and other financial information ofthe Group iicluding ite associates and jnint ventures and the statement of Consolidated Audited Assets and Liabilities and the Cons'olidated Audited Statement of Cash Rows in accordancewith the recognition and measurement principles laid down in theIndian Accounting Standards prescribed under Section i33 Of the Act read with relevant rules issued thereunder andother accounting principles generally ac«pted in India and in compliahée with Regulation 33 of the Listing Regulations. The respective 8oard of Directors of the companies included in the Grnup and of its associates and joint ventures are wsponsible for

maintenance of adequate accounting records in accordance with ie provisions of the Act for safeguarding of the assetsof the Group and its associates and joint ventures and for preventing and detecting frauds and other irregularities; selection and Application of appropriateaccDnntlng policies; making judgments and estimates that art reasonable andprudent; aad the design, implementation and maintenance of adequateinternal financial controls, that were operating effectively fOr Ensuring accumcy and completeness of the accounting records, relevant io the prepamtion and presentation of the consolidated financial statements that give a true and &ir view and are free from material

Independent Auditor S R Of't

To the Bi›ard ‹ifDirectors ofMaruti Sur.iiki India Limited

misstatement, whether due to fraud or error, which hsve been used for the purpose of prapamtion of

,the consolidated Snancial results by the Directors of the Holding Compaw. as aforesaid.

6. In preparing th« consolidated financial results, the respective Board nf Directfira of thR cDmpanies included in the Group and of its associates and Joint ventures ara responsible for assessing the ability of the Grfiup and ita associates and joint ventures to «ontinue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis ofaccountingunless the respective 8nard of Directors either intends to liquidate the Grnup and its associates and joint ventures or to cease operations, or hafino realistic alternative but to do so.

y, Therespective 8oard ofDirectors ofthñ companies included in the Group and ofits associates andjoint venturaa are responsible for overseeingthe financial reporting process of the Group and of its aaanciates and joint ventures.

Auditor's Responslbilldes for the Audit nf the Consolidated financial Results

8. Our ob tives, are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion, Reasonable assurance is a high level of assurance, but i8 not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatementcsan arise from fraud or error and are considered material if, individually or in the aggregate, they could xasonablybe expected to influence the economic detisinns of usera taken on thebasis of these consolidated financial results.

g. A part o£ an audit in accordance with SAs, we exercise professional judgment and maintain

professional scepticistrlthroughoutthe audit. We also:

Identify and assess the risks ofmaterial misstatement of the cpnsolldated £nancial results, whether due to fraud or error, design and perform audit procedures responsive to thoae riska, and obtain audit evidence that is sufficient and appropfiate to provide abasis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for Dug fHSulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section ip(J)(i) of the Act, we are also respnnsible for expressing our opinion nn whether the company has adequate internal finariCial controls with reference to financial statements in place and the operating effectiveness of such controls.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates andrelated disclosures madeby the Board of Directors.

o Conclude on the appropriateness nf the Board ot Directors use of the going concern basis of accounting and, based on the audit evideuceobtained, wheler amaterial uncertainty exists related toevents or conditions that may cast significant doubt on the ability of the Group and its associates and joint ventures to continue aa agoing concern. If we conclude ihatamaterialuncertaintyexists, we are required to draw attention in our auditor’s report to the related disclosures in the consoIi&ted financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on ie audit evidence obtained up to the date of our auditor's report. Hour, future events or conditions may cause the Group and its associates and joint ventures to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the consolidated financial results. including the disclosures, and whether the consolidated financial results represent the underlying transactionsand events in amanner that achievesfair presentation.

Obtain sufficient appropriate audit evidenceregarding the financial results and financial information of the entities within the Group and its assoeiatea and joint ventures to express an

Independent Auditor‘s Report

In the Bo«td ofDireitors ofMaruti8uzuki tn;1ia Limited Report on the Consnlidated financial Results

opinion on the consolidated financial results. We areresponsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which w are the independent auditors. Por the other entities includedin thé consolidated financial results, which haw been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out @ them. We remain solely responsible for our audit opinion.

lo.We communicate with those charged with governance of the Holding Company rcgarding,,amongother matterB, the planned scope and timing of the audit and signifiunt audit findings, including any significant deficiencies in internal contrDl that we identify during our audit.

i:. We also provide those charged with governancewith a statementthat we have complied with relevant ethic£ requirements regarding independence, and to communicate with them all relatinnshipa and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

12: We also performed procedures in accordance with the circular issued by the 8SBI under Regulation 3;1(*J of OR Listing Regulations, as amended, to the extct applicable.

Otheé Matters

i3. We did not audit the financial statements of two subsidiaries whose financial statements reflect total assets nf Rx. 7o6 million and net aasets of Rs. 6qt million as at garch 3I, XOR6, total revenues of Rs. g3g million, total netprnfit after tax ofRs. gJ million and total compéehensiye income ofRe. q3 million and net cashflow of Rs. (7) millionfor the year Ahded on that date, as considered in the consolidated financial statements. The financiâl statements ofthese subsidiaries have been audited by other auditor whose reports hava been furnished to us by the Holding Company’s management. Our opinion on the consolidated financial results insofar as it relates to the amounts and disclosuresincluded inrespect of these subsidiaries is based solely on the reports of the other auditors furnishedto us by the Holding Company's management. In our opinion and according to the information and explanations given to us by the Management, these financial statements are notmaterial to the Group.

The consolidated financial results include the Group's share of net profit after tax of Rs-•.*ss million and total comprehensive incomRofRs. a,8s* million for the year ended March 3i, zoz6, as cnnsidered in the consolidated financial results, in respectof i4M octavesand 3 joint ventures, whose financial information have not been audited by us. The financial infnrmation of these associates and joint venture6 are unauditedand have been furnished to us by the Management,and our opinionon the consolidated financial results, in so far aa It relates to the amounts and disclosures included in respect of these associates and joint ventures,. is based solely on such unaudited financial information. In our opinion aad according tn the information and explanations given to us by the Management, these financial information are not material to the Group.

Our opinionon the Consolidated Financial Results is oot modified in respect of the abnve matters with respect to our reliance on the work done and the reports of the other auditors and the financial information certified by the 8oard of otrtaora..

ThC CDllSOlidated fmancial results include the results for the quarter ended March 3i, aoz6 being the balancing figures between the audited figures in respect of lhe full financial year and the published unaudited year to date Cgures up to the third quarter orme current financial year, which were subject to limited review by us.

Independent Auditor's Report

To the Board of Directors ofMaruti Suzuki India Limited Report on the COnsolidateit l'inancial Results

Pase s off

i6.The consnlidated financial statements of lhe Group, its associates and joint ventures for the year ended March 31, 20 5, werR audited by prior auditors under the Act who, vide their report dated April z,5, zoz,5, expressedan unmodified opinion on those financial statements.

Por Price Waterhouse Chartered Accountants LLP Firm Registration Number: oi*754 /*.$°••*

Abhishek Rara

Partner

Membership Numher: 077779

UDIN: z6o yy9KNRlMCg<37

Place: New Delhi

Date: April z8. oos6

Disclaimer

Maruti Suzuki India Ltd. published this content on April 28, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 28, 2026 at 14:48 UTC.