Maruti Suzuki India Limited (IN:MARUTI)
:MARUTI
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Maruti Suzuki India Limited
(MARUTI)
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Rating:68Neutral
Price Target:
₹14,454.00
▲(7.45% Upside)
Action:Downgraded
Date:04/30/26
The score is primarily supported by strong financial performance—especially the very conservative balance sheet and solid revenue/profitability improvement. This is tempered by weaker technical positioning (below key medium/long-term moving averages with negative MACD) and a relatively high P/E with only a modest dividend yield.
Positive Factors
Very low leverage
Extremely low debt-to-equity provides durable financial flexibility across auto cycles, reducing refinancing risk and allowing management to fund capex, R&D or rebates from internal resources. This strengthens the company's ability to withstand demand shocks and invest countercyclically over months to years.
Negative Factors
Volatile free cash flow
Material swings in free cash flow reduce predictability of capital returns and investments; management may be forced to delay or curtail discretionary spend in weak periods. Persistent volatility complicates forecasting and raises execution risk for multi-quarter initiatives and dividend/share repurchase plans.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Extremely low debt-to-equity provides durable financial flexibility across auto cycles, reducing refinancing risk and allowing management to fund capex, R&D or rebates from internal resources. This strengthens the company's ability to withstand demand shocks and invest countercyclically over months to years.
Read all positive factors
Maruti Suzuki India Limited (MARUTI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.09T
Dividend Yield0.81%
Average Volume (3M)16.49K
Price to Earnings (P/E)26.4
Beta (1Y)1.06
Revenue Growth19.88%
EPS Growth1.24%
CountryIN
Employees18,228
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)470.08
Shares Outstanding314,402,600
10 Day Avg. Volume11,821
30 Day Avg. Volume16,486
Financial Highlights & Ratios
PEG Ratio21.33
Price to Book (P/B)3.61
Price to Sales (P/S)2.11
P/FCF Ratio42.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)524.8
Revenue Forecast (FY)₹2.06T
Maruti Suzuki India Limited Business Overview & Revenue Model
Company Description
Maruti Suzuki India Limited manufactures, purchases, and sells motor vehicles, components, and spare parts primarily in India, rest of Asia, Europe, Africa, Oceania, and Latin America. The company offers passenger vehicles, multi utility vehicles,...
How the Company Makes Money
Maruti Suzuki makes money primarily by selling vehicles in India through its dealer network. Revenue is driven mainly by the sale of passenger cars (vehicle sales), where the company earns income from wholesale sales to dealers (and, in some cases...
Maruti Suzuki India Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.61T | 1.83T | 1.53T | 1.42T | 1.18T | 883.30B |
| Gross Profit | 412.69B | 352.38B | 439.52B | 408.13B | 318.38B | 216.42B |
| EBITDA | 202.92B | 214.56B | 201.46B | 186.97B | 130.94B | 57.33B |
| Net Income | 147.79B | 146.79B | 145.00B | 134.88B | 82.64B | 38.80B |
Balance Sheet | ||||||
| Total Assets | 1.38T | 1.49T | 1.32T | 1.15T | 845.97B | 746.55B |
| Cash, Cash Equivalents and Short-Term Investments | 53.04B | 170.04B | 122.39B | 92.00B | 41.54B | 71.81B |
| Total Debt | 1.65B | 1.02B | 1.17B | 1.19B | 13.19B | 4.25B |
| Total Liabilities | 387.09B | 417.25B | 357.32B | 297.15B | 228.06B | 193.22B |
| Stockholders Equity | 997.44B | 1.07T | 962.40B | 856.36B | 746.00B | 553.34B |
Cash Flow | ||||||
| Free Cash Flow | -7.03B | 91.47B | 54.96B | 76.01B | 29.04B | -16.19B |
| Operating Cash Flow | 49.71B | 192.70B | 161.36B | 168.01B | 92.51B | 18.41B |
| Investing Cash Flow | -5.14B | -150.99B | -144.56B | -118.65B | -80.36B | -2.39B |
| Financing Cash Flow | -43.44B | -42.88B | -41.55B | -40.62B | -12.13B | -16.07B |
Maruti Suzuki India Limited Technical Analysis
Negative
13452.25
Price Trends
13189.96
Negative
14452.35
Negative
14837.32
Negative
Market Momentum
-61.26
Positive
42.63
Neutral
19.66
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MARUTI, the sentiment is Negative. The current price of 13452.25 is above the 20-day moving average (MA) of 13298.20, above the 50-day MA of 13189.96, and below the 200-day MA of 14837.32, indicating a bearish trend. The MACD of -61.26 indicates Positive momentum. The RSI at 42.63 is Neutral, neither overbought nor oversold. The STOCH value of 19.66 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MARUTI.
Maruti Suzuki India Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹251.37B | 22.95 | ― | 0.22% | 12.21% | 51.31% | |
68 Neutral | ₹4.09T | 26.43 | ― | 0.81% | 19.88% | 1.24% | |
63 Neutral | ₹3.88T | 2.68 | ― | 3.05% | 24.55% | 32.09% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | ₹1.46T | 26.60 | ― | 0.91% | 2.50% | -3.70% | |
58 Neutral | ₹1.33T | -9.70 | ― | 1.00% | -20.40% | 264.59% | |
41 Neutral | ₹3.51B | 1,557.49 | ― | ― | -100.00% | -89.01% |
* Consumer Cyclical Sector Average
IN:MARUTI
Maruti Suzuki India Limited
12,997.15
519.07
4.16%
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-16.99%
Maruti Suzuki India Limited Corporate Events
Maruti Suzuki Uploads FY26 Investor Call Audio for Wider Market Access
Apr 28, 2026
Maruti Suzuki India Limited has notified stock exchanges that it has uploaded the audio recording of its investors’ call discussing annual financial results for the year ended 31 March 2026. The recording is available on the company’s ...
Maruti Suzuki Opens Special Window for Demat of Physical Shares
Apr 16, 2026
Maruti Suzuki India Limited has notified the stock exchanges that it has published a notice in newspapers about opening a special window for transfer and dematerialisation of physical shares. The move is aimed at facilitating shareholders who stil...
Maruti Suzuki Boosts February 2026 Output on Strong Utility Vehicle Growth
Mar 1, 2026
Maruti Suzuki India Limited reported total production of 223,507 vehicles in February 2026, up from 187,414 units a year earlier, driven by strong growth in utility vehicles and steady output in mini, compact and van segments. Passenger vehicle pr...
Maruti Suzuki February 2026 Sales Rise on Strong Exports and Utility Vehicles
Mar 1, 2026
Maruti Suzuki India Limited reported total sales of 213,995 vehicles in February 2026, comprising 164,130 domestic units (including light commercial vehicles), 10,710 units supplied to other OEMs, and 39,155 units exported. Domestic passenger vehi...
Maruti Suzuki Posts Record Monthly Sales in January 2026
Feb 2, 2026
Maruti Suzuki India Limited reported its highest-ever monthly sales in January 2026, with total sales of 236,963 units, driven by strong domestic demand and record exports. Domestic sales, including passenger vehicles and light commercial vehicles...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.