Autobayng News Team
Maruti Suzuki will report results on Friday, followed by Mahindra & Mahindra on November 4, while Tata Motors is yet to announce its earnings date.“>
Indian automakers are expected to post double-digit profit growth in the September quarter, driven by robust demand for two-wheelers and tractors, even as passenger vehicle recovery remains muted. Brokerages forecast a 10–17 per cent rise in revenue and around 15 per cent growth in profits year-on-year, marking a rebound after five quarters of sluggish performance, according to a Reuters analysis. The sector, which had faced headwinds from a global chip shortage, weak consumption, and tariff-related uncertainty, is now seeing signs of recovery. Analysts said the government’s recent tax relief on goods—from soaps to small cars—along with falling interest rates, is helping lift consumer sentiment, with the full impact likely to reflect in the December quarter.Analysts view
According to HDFC Securities analysts Hitesh Thakurani and Shubhangi Kejriwal, “The September tax cuts and improved affordability are driving retail sales momentum, which should strengthen further in the festive season.”
Two-wheeler makers Bajaj Auto and TVS Motor are among the key beneficiaries of the upturn, supported by strong exports, favourable forex trends, and a nearly 12 per cent decline in shipping costs. TVS Motor is slated to announce its results on Tuesday, followed by Bajaj Auto on November 7.
Tractor sales have also been a bright spot, buoyed by a normal monsoon, lower financing costs, and improved rural sentiment. Analysts at Motilal Oswal said the segment continues to outperform expectations, with Nomura’s Kapil Singh and Siddhartha Bera noting that tractor volumes are likely to “beat estimates” this quarter.Subdued growth in passenger segment
However, growth in the passenger vehicle segment remains subdued due to lingering supply shortages. Market leader Maruti Suzuki is expected to see modest margin pressure from new model launches and higher customer discounts. However, its export portfolio—led by the E-Vitara line—is emerging as a growth driver.Tata Motors, which faced production disruptions following a cyberattack on Jaguar Land Rover, may lag its peers in this quarter. Still, analysts expect a rebound supported by festive demand, export momentum, and benefits from tax cuts.
Maruti Suzuki will report results on Friday, followed by Mahindra & Mahindra on November 4, while Tata Motors is yet to announce its earnings date.
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