Maruti Suzuki Q4 preview: What analysts expect on revenue, PAT, guidance?

Maruti Suzuki Q4 results preview: The automobile giant Maruti Suzuki India is set to announce its financial results for the fourth quarter of financial year 2024-25 (FY25) on Friday, April 25, 2025.

 

Maruti Suzuki Q4FY25: Profit expectations

 

Analysts, on average, expect muted results for Maruti Suzuki in Q4FY25. They expect the company's revenue to grow 6.5 per cent Y-o-Y to ₹40,715 crore, and profit after tax (PAT) to decline by 3.3 per cent Y-o-Y to ₹3,749.37 crore.

 

Meanwhile, an average of four brokerages show earnings before interest, taxes, depreciation, and amortisation (Ebitda) may rise by 3 per cent Y-o-Y to ₹4,827 crore.

 

Maruti Suzuki Q4FY25: Key things to watch

 

The key focus during Maruti Suzuki's Q4FY25 results, analysts believe, will be the demand outlook and new product timeline.  ALSO READ | Tech Mahindra Q4 results: check date, time, expectations, dividend

 

Here’s what brokerages are expecting in Q4 from Maruti Suzuki:

Nuvama: Analysts at Nuvama believe that Maruti Suzuki’s volume growth and higher realisation shall support revenue growth year-on-year (Y-o-Y). Ebitda margin to contract slightly on higher other expenses (Auto Expo and E-Vitara launch).

 

They forecast revenue at ₹41,015.9 crore in Q4-FY25, a 7 per cent increase Y-o-Y, with Ebitda at ₹4,978.7 crore (up 6 per cent Y-o-Y) and PAT at ₹3,911.8 crore (up 1 per cent Y-o-Y). The key focus, analysts believe, will be the demand outlook and new product timeline.

 

Axis Securities: Analysts at Axis Securities expect the total revenue of Maruti Suzuki to grow by 8 per cent Y-o-Y to ₹41,128 crore in the recently concluded quarter due to a 3 per cent Y-o-Y increase in volumes, and ASPs are expected to increase by 3 per cent Y-o-Y over the last year.

 

They forecast the company’s profit to decline 0.8 per cent Y-o-Y to ₹3,846 crore, and Ebitda at ₹4,859 crore (down 3.7 per cent).

 

The Ebitda margin is expected to decline by 44 bps Y-o-Y to 11.8 per cent due to higher marketing and advertising spending, higher discounts partly offset by operating leverage, and increased sales of CNG vehicles.  ALSO READ | HUL Q4 results: PAT, revenue may rise 2% YoY; check date, time, expectation

 

Motilal Oswal Financial Services (MOFSL): Brokerage firm MOFSL expects depreciation is likely to inch up in Q4 due to the commissioning of its Karkhoda facility. As a result, they expect the company to post a 10 per cent Y-o-Y decline in PAT at ₹3,503.9 crore.They forecast revenue at ₹39,819.7 crore, a 4.1 per cent increase Y-o-Y, with Ebitda at ₹4,613.9 crore, down 1.5 per cent Y-o-Y.

 

Overall, MOFSL expects Ebitda margin to remain stable on a sequential basis at 11.6 per cent as the impact of adverse mix and forex and spends for Auto Expo are likely to be offset by operating leverage benefits and lower discounts on a quarterly basis.

 

Elara Capital: Analysts at Elara Capital expect Maruti Suzuki's PAT to rise 3.7 per cent Y-o-Y to ₹3,735.8 crore, and its revenue to rise by 7 per cent Y-o-Y to ₹40,898.6 crore in Q4FY25. They forecast a 3.7 per cent Y-o-Y growth in Maruti Suzuki's Ebitda to ₹4,857.1 crore in Q4FY25.