Maruti Suzuki Shares Fell On ₹2,966 Crore Income Tax Notice

On March 26, 2025, Maruti Suzuki share price fell ~2% and touched the day low of ₹11,750.95 at 10:00 AM after opening at ₹11,848.95. The fall in Maruti Suzuki share price came after the company, through an exchange filing, announced that it had received a Draft Assessment Order from the Income Tax Authority for FY 2021-22 on March 25. The draft order proposes additions and disallowances totaling ₹2,966 crore to the company’s returned income.

“The company has received a draft Assessment Order for the FY 2021-22 wherein certain additions/ disallowances amounting to Rs 29,660 million with respect to returned income (the income disclosed by the Company in its Income Tax return) have been proposed,” Maruti Suzuki India said in a regulatory filing.

Response by Maruti Suzuki

The company announced that it would submit objections to the Dispute Resolution Panel (DRP) to challenge the proposed additions. Maruti Suzuki also assured that the order will not affect its financial, operational, or other business activities. The assessment order was received on March 24, 2025.

Maruti Suzuki Sales Performance

In February 2025, Maruti Suzuki India Limited sold a total of 199,400 units. This figure includes 163,501 units sold domestically, 10,878 units sold to other OEMs, and 25,021 units exported. During Q3FY25, the company sold a total of 566,213 vehicles, with 466,993 units sold in the domestic market.

Exports reached 99,220 units, marking the highest-ever quarterly export figure. In the same period last year, total sales were 501,207 units, including 429,422 units in the domestic market and 71,785 units in exports. The Company also recorded its highest-ever Net Sales for the quarter, amounting to INR 368,020 million, compared to INR 318,600 million in the previous year’s corresponding period.

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