Suzuki H1 results for April–September 2026 show consolidated revenue up 19.4% to ¥3,419.2 billion, driven mainly by strong volume growth in India and higher overseas sales. Operating profit rose 5.5% to ¥291.6 billion, but the operating margin fell to 8.5% from 9.7%.
Suzuki Motor Corporation’s half-year numbers were reported by Autocar Professional on 10 November 2026. The company labels the period H1 FY2026.
How Did Suzuki Perform in the First Half?
- Revenue: ¥3,419.2 billion, up ¥555.0 billion or 19.4%.
- Operating profit: ¥291.6 billion, up 5.5%.
- Profit before tax: ¥401.4 billion, up 20.8%.
- Profit attributable to owners of the parent: ¥253.7 billion, up 31.6%, with a net margin of 7.4% against 6.7% a year earlier.
What Happened in the July–September Quarter?
Second-quarter revenue was ¥1,713.5 billion, up 16.8%. Operating profit was ¥133.6 billion, down 0.6%, with the operating margin at 7.8% against 9.2%. Profit before tax fell 24.5% to ¥118.2 billion, and profit attributable to owners of the parent fell 22.8% to ¥70.1 billion.
How Big Is India for Suzuki?
India was the standout market in the half year:
- Wholesale sales reached 1,100 thousand units, up 35.4% from 812 thousand.
- Second-quarter wholesale sales were 565 thousand units, up 37.8%.
- Production in India was 1,330 thousand units, up 26.6%.
- Automobile revenue in India was ¥1,390.7 billion, up 28.9%, the largest single-country contribution in the Asia segment.
Suzuki expects Indian volumes to grow about 20% in FY2026.
Why Did Margins Fall Despite Higher Sales?
The operating profit bridge for the half year shows raw material prices as the biggest drag at −¥151.0 billion. Foreign exchange added ¥52.0 billion. Volume growth added ¥70.5 billion, mix and pricing added ¥69.9 billion and cost reduction added ¥23.8 billion, while fixed costs reduced profit by ¥36.6 billion.
By region, Asia operating profit was ¥111.0 billion, down 18.7%, with a margin of 5.3% against 8.3%. Japan operating profit was ¥156.9 billion, up 25.7%.
Market Reaction and Industry Response
The source report carries no direct quotes from executives, and no market or analyst reaction was found. This article does not speculate on either.
What Happens Next?
For the full year, Suzuki forecasts revenue of ¥6,900.0 billion, up 9.6%, and operating profit of ¥540.0 billion, down 13.3% from ¥622.9 billion. Its assumptions include a raw material headwind of ¥270.0 billion and volume growth worth ¥90.0 billion.
Frequently Asked Questions
How much did Suzuki’s revenue grow in the first half?
Consolidated revenue rose 19.4% to ¥3,419.2 billion for April–September 2026.
How did India sales perform for Suzuki?
Wholesale sales in India were 1,100 thousand units, up 35.4%, and second-quarter sales were 565 thousand units, up 37.8%.
What is Suzuki’s full-year profit outlook?
Suzuki forecasts operating profit of ¥540.0 billion, down 13.3% from ¥622.9 billion, and profit attributable to owners of ¥420.0 billion.
Source: Autocar Professional, 10 November 2026.
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