Maruti Suzuki India Limited has received a Final Assessment Order from the Income Tax Authority for FY 2021-22, resulting in a substantial tax demand of Rs. 11,825 million including interest. The company made this disclosure through a regulatory filing under Regulation 30 of SEBI Listing Regulations on January 23, 2026.

Assessment Order Details

The Final Assessment Order pertains to FY 2021-22 and was received by the company on January 23, 2026. This development follows a previous stock exchange intimation made by the company on March 25, 2025.

Company's Response and Impact

Maruti Suzuki has announced its intention to challenge the assessment order by filing an appeal before the Income Tax Appellate Tribunal. The company has clarified that despite the substantial demand amount, there will be no impact on its financial, operational, or other business activities due to this order.

Regulatory Compliance

The disclosure was made in compliance with Para B of Part A of Schedule III under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The communication was signed by Sanjeev Grover, Executive Officer and Company Secretary of Maruti Suzuki India Limited.

The company maintains its registered and head office at 1, Nelson Mandela Road, Vasant Kunj, New Delhi, and continues to operate normally while pursuing legal remedies against the tax assessment.

Maruti Suzuki India shares traded lower during Friday's session, declining 1.76% from the previous close to ₹15,488.00. The stock, which is a constituent of the Nifty 50 index, experienced significant intraday volatility with a day's high of ₹15,846.00 and a low of ₹15,451.00.

Strong Annual Financial Performance

The company delivered robust financial results for the year ending March 2025, demonstrating consistent growth across key metrics. Revenue increased substantially to ₹152,913.00 crores, marking a 7.79% growth from ₹141,858.20 crores in the previous year.

Quarterly Performance Analysis

The September 2025 quarter showed strong year-over-year growth, with revenue reaching ₹42,344.20 crores compared to ₹37,449.20 crores in September 2024, representing a 13.07% increase. However, net profit for the quarter was ₹3,281.70 crores, showing some sequential decline from recent quarters.

Key Financial Ratios and Operational Metrics

The company maintained strong operational efficiency with a net profit margin of 9.32% in FY25, consistent with the previous year. Return on equity stood at 15.06%, while return on capital employed was 19.29%, indicating effective capital utilization.

The company's P/E ratio improved to 24.98 from 29.37, while the debt-to-equity ratio remained minimal at 0.00, reflecting a strong balance sheet position.

Recent Corporate Developments

Maruti Suzuki has been active in expanding its operations and market reach. The company commenced exports of VICTORIS, badged as 'Across' on January 16, 2026. Additionally, on January 12, 2026, the company collaborated with Indian Oil Corporation Limited to expand nationwide service reach and received board approval for land acquisition for capacity expansion.

The company announced a final dividend of ₹135.00 per share for FY25, effective from August 1, 2025, representing an increase from ₹125.00 per share in the previous year. This dividend reflects the company's commitment to returning value to shareholders while maintaining growth investments.

Market Position and Outlook

Despite the day's decline in share price, Maruti Suzuki India continues to demonstrate strong fundamental performance with consistent revenue growth and maintained profitability margins. The company's three-year compound annual growth rate for sales stands at 31.57%, while net profit CAGR reached 95.83%, indicating robust long-term performance trajectory.