Mumbai, April 28 -- Maruti Suzuki India (MSIL) has reported its most successful financial year to date, posting record annual net profits of INR 144,454 million for FY2025-26, as compared to INR 142,976 million last year.

However, the headline success comes with a caveat: the carmaker is officially 'sold out,' ending the year with a massive backlog of 190,000 pending orders.

Despite producing a record 2.42 million vehicles, consisting of 1,974,939 units in domestic market and exports at 447,774 units, Maruti is struggling to keep pace with a domestic market supercharged by 'GST 2.0' reforms.

In comparison, total sales last year at 2.23 million units, comprising 1.90 million units in domestic market and exports of 332,585 units.

For Q4...