Maruti Suzuki dividend 2026: Rs 140 record date set

What the announcement says

Maruti Suzuki India’s board has recommended a final dividend of ₹140 per equity share for the financial year 2026. The company has fixed August 7, 2026 as the record date to determine eligible shareholders for the dividend. The payment is expected on September 9, 2026, subject to shareholder approval at the upcoming Annual General Meeting (AGM). The update lands at a time when the stock has seen mixed near-term moves and a wider range of brokerage views on valuation and catalysts.

Dividend timeline and what shareholders should note

A record date determines who is eligible to receive the dividend, based on shareholding as of that date. For Maruti Suzuki’s proposed ₹140 per share final dividend, the record date is August 7, 2026. The company has indicated a likely payment date of September 9, 2026, pending AGM approval. The dividend comes after earlier disclosures around dividends, including a ₹125 per share final dividend for FY2023-24, described as the company’s highest-ever dividend for that year.

Stock price snapshots and recent returns

Maruti Suzuki’s stock has been reported at multiple levels in the provided data points, reflecting different timestamps. One update puts the stock at ₹13,271, up 0.38% from the previous close of ₹13,222. Another snapshot says the share price was ₹13,286 on April 28, 2026 at 09:31 AM IST, up 0.49% versus a previous close of ₹13,048. A separate end-of-day reference states the share price stood at ₹12,892 at 28 Apr, 2026 15:59, down ₹330 or 2.49% from the previous close, with an intraday range of ₹12,828 to ₹13,307.

Returns data also shows a mixed pattern across time frames. The stock is listed as up 0.39% over 1 day, down 1.4% over 1 week, up 7.14% over 1 month, down 10.78% over 3 months, and up 12.05% over 1 year. Longer-term returns reported include 54.53% over 3 years and 101.91% over 5 years.

Key valuation and financial metrics in focus

Several valuation and trading metrics are highlighted across the data. Maruti Suzuki’s P/E ratio is cited around 27.8x to 27.95x in multiple places, and one note mentions a current P/E of 27.83 representing a 10.2% premium over an industry average of 25.24. The P/B ratio is shown at 4.02x and also at 4.32x in different snapshots. Dividend yield is shown around 1.02% to 1.05%.

Other metrics include EPS (TTM) of ₹474.92, book value per share reported as ₹3,061.04 and also ₹3,293.15, and a 52-week range of ₹17,370 to ₹11,289. Market capitalisation is shown at ₹4,16,489 crore in one table and also around ₹4,04,950.50 crore and ₹392,246 crore in other references, indicating different capture dates.

Brokerage views: targets and re-rating thesis

Motilal Oswal has reiterated a ‘Buy’ rating on Maruti Suzuki and, in the provided text, a target price of ₹18,712. The brokerage’s view links potential re-rating to a revival in market share and suggests concerns around performance are overstated. It also forecasts a 10% volume CAGR and a 16% earnings CAGR over FY25-28, and notes export volumes projected to grow at a 25% CAGR.

Other brokerage updates in the material include a target of ₹16,200 from Choice Institutional Equities, with the stock upgraded to ‘ADD’ from ‘REDUCE’. Nuvama is cited as retaining a ‘BUY’ rating with a revised target price of ₹18,300 (earlier ₹20,000). Separate references indicate other “Buy” ratings clustered in the ₹18,600 to ₹18,700 band, and an additional Motilal Oswal call mentioning a target of ₹17,406 on March 12, 2026.

Operating drivers cited: capacity, launches, exports

The catalysts repeatedly cited in the provided material include capacity expansion, new model launches, and export growth. Motilal Oswal notes a new manufacturing facility is expected to come onstream from April, aimed at easing near-term capacity constraints that have affected wholesale volumes. The brokerage also points to a pipeline that includes a new Brezza variant with a smaller engine, the recently launched e-Vitara, and at least one more new vehicle in FY27.

Choice’s note adds that Maruti has begun exporting its first electric vehicle, the e-Vitara, with over 13,000 units shipped to 29 countries ahead of its domestic launch. The same note flags a shift in product mix and improving traction in SUVs, with Maruti’s SUV market share rising sequentially from 22.8% in Q2 FY26 to 26.3% in Q3 FY26.

Sector and market context: auto volatility and crude risk

The broader auto sector backdrop in the material includes a sharp risk-off move. One headline notes Nifty Auto fell over 3% as crude topped $100 again, with LNG-related fears adding pressure, and Maruti among the top Nifty losers alongside M&M. This context matters because input cost worries and demand sensitivity often drive near-term sentiment for passenger vehicle makers, even when longer-term fundamentals are intact.

Technical levels highlighted in the data

Technical reference points are provided in a pivot-support-resistance format. The pivot level is listed at 13,178.33, with resistances at 13,313.66, 13,405.33, and 13,540.66. Supports are shown at 13,086.66, 12,951.33, and 12,859.66. These levels are presented as near-term markers traders may track alongside news flow such as dividends, sector moves, and brokerage updates.

Key numbers at a glance

Brokerage targets mentioned

Why the dividend matters for investors

A higher declared dividend can matter in two ways: it signals confidence from the board and adds to shareholder returns through cash payout. For Maruti Suzuki, the ₹140 per share recommendation for FY2026 also comes with clear operational dates, which helps investors plan around eligibility and expected receipt. But investor attention is also on valuation and execution drivers, especially where the stock has been described as trading at a premium to the industry in some of the provided notes.

Conclusion: what to watch next

Maruti Suzuki’s proposed ₹140 per share final dividend for FY2026 sets up clear milestones, with the record date on August 7, 2026 and expected payment on September 9, 2026 subject to AGM approval. Near term, investors are likely to track how the stock trades into the record date, alongside sector cues such as crude prices and auto index moves. On the fundamentals side, the key watchpoints cited include capacity easing, the product launch pipeline, and export momentum, which brokerages have linked to a potential re-rating and market share improvement.