Maruti Suzuki's margin of 9.2% is lower than expected, according to Naveen Kulkarni, CIO of Axis Securities. While the company's progress in small car sales is being hindered by lacklustre growth, Kulkarni suggests there may still be hope for improved margins in the future, thanks to low commodity prices and a boosted production of premium models. However, it is early to tell how things will develop, and the gross margin and other factors must be considered.