| Plant D Investment | ₹3,900 CrCapacity Expansion |
|---|---|
| Market Cap | ₹4,36,862 CrCap size |
| Revenue TTM | ₹1,83,316 CrOperating |
| Day RSI | 56.3Neutral Zone |
| Deal value | ₹3,900 Cr |
| Share of market cap | 0.9% |
| Share of annual revenue | 2.1% |
Key highlights
- Plant D commencement increases Hansalpur facility's total annual capacity from 750,000 to 1 million units
- Company wide total annual production capacity now stands at 2.9 million units
- Estimated investment for the new Plant D is ₹3,900 crore within the larger Gujarat complex
- Facility will serve as the initial production hub for the flagship e VITARA battery electric vehicle
- Hansalpur accounts for nearly 47 percent of the company's total overseas shipments in FY 2025-26
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Operational Significance — e VITARA and Beyond
Maruti Suzuki has officially commenced commercial production at Plant D, the fourth line within its Hansalpur manufacturing facility in Gujarat. This addition brings an incremental 250,000 units of annual capacity online, specifically targeting the production of the e VITARA, the company's flagship Battery Electric Vehicle. By operationalizing this plant, the company has effectively reached a total annual production capacity of 2.9 million units across its multiple Indian facilities.
This scale is intended to meet growing demand in both domestic markets and international export channels, marking a transition toward advanced powertrain manufacturing within the Gujarat ecosystem.
Investment and Milestone Context
This expansion marks a global milestone for Suzuki, as Hansalpur becomes its first manufacturing site to achieve an annual capacity of 1 million units at a single location. The site has evolved through phased developments, with cumulative investments totaling INR 25,288.7 crore since 2017. Plant D alone represents a targeted investment of ₹3,900 crore.
This long-term capital commitment has transformed the 640-acre facility into India’s largest passenger vehicle manufacturing hub, integrating a comprehensive supplier ecosystem to ensure production efficiency and supply chain resilience while supporting the company's overarching objective of scaling total production to 4 million units annually.
Green Logistics and Export Hub Status
- The Hansalpur facility incorporates India's first automobile in-plant railway siding commissioned under the GatiShakti programme
- Over 750,000 vehicles have been dispatched via rail, significantly reducing road congestion and CO2 emissions
- The facility emerged as a major export hub accounting for 47 percent of the company's overseas shipments in FY 2025-26
- Hansalpur now produces four major models: FRONX, Baleno, Swift, and the newly added e VITARA
- The site reached a cumulative production milestone of 5 million units as of May 7, 2026
Strategic Expansion Goal
Together, the Hansalpur and the upcoming Sanand facility in Gujarat will play a pivotal role in achieving our long-term ambition of producing 4 million units annually in India.
Sector Tailwinds and Financial Health
The Indian automobile industry is shifting toward premiumization and electrification, with the utility vehicle segment driving volume growth. Maruti Suzuki's decision to anchor its EV production in Gujarat leverages the state's progressive industrial policy and established logistics network. Financially, the company maintains a robust profile with a Durability score of 65 and a market capitalization exceeding ₹4.36 lakh crore.
With a Piotroski score of 7 and an operating profit margin of 11.74 percent, the company demonstrates the financial stability required to sustain large-scale industrial projects while adapting to changing consumer preferences for greener mobility solutions.
“The start of commercial production at the fourth plant of our Hansalpur facility augments its annual production capacity to one million vehicles, making it India’s largest passenger vehicle manufacturing facility at a single location.”
| Share price | ₹13895 |
|---|---|
| Market capitalisation | ₹4.37L Cr |
| Revenue (annual) | ₹1.83L Cr |
| Net profit (annual) | ₹14,679.50 Cr |
| Revenue (latest quarter) | ₹52,462.50 Cr+5.13% vs previous quarter |
| Net profit (latest quarter) | ₹3,659.00 Cr-5.67% vs previous quarter |
| P/E (TTM) | 29.76×Sector 33.57× |
| Promoter holding | 58.65%+0.12% QoQ |
| FII holding | 12.82%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Maruti Suzuki India Limited announcing the commencement of commercial production at its fourth plant in Hansalpur, Gujarat. Market figures from a third-party data provider.
