Maruti Suzuki India Limited (MARUTI) AI Stock Analysis

• Market Cap: ₹4.83T
• Dividend Yield: 0.87%
• Average Volume (3M): 16.49K
• Price to Earnings (P/E): 32.7
• Beta (1Y): 0.76
• Revenue Growth: 10.62%
• EPS Growth: 4.43%
• Country: IN
• Employees: 18,228
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Manufacturers
• EPS (TTM): 104.70
• Shares Outstanding: 314,402,600
• 10 Day Avg. Volume: 11,821
• 30 Day Avg. Volume: 16,486
• PEG Ratio: 3.32
• Price to Book (P/B): 3.75
• Price to Sales (P/S): 2.49
• P/FCF Ratio: 65.68
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹17,212.91
• Price Target Upside: 11.39% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 76 Outperform
• Price Target: ₹18,520.00 ▲(19.84% Upside)

Maruti Suzuki's strong financial performance is the most significant factor driving its stock score, supported by robust revenue and profit growth, efficient cash flow management, and a solid balance sheet. Technical analysis indicates a bullish trend, though caution is advised due to potential overbought conditions. Valuation concerns with a high P/E ratio slightly offset the positive outlook.

Maruti Suzuki India Limited Business Overview & Revenue Model

Company Description

Maruti Suzuki India Limited (MARUTI) is a leading automobile manufacturer in India, primarily engaged in the production, distribution, and sale of passenger vehicles. A subsidiary of Suzuki Motor Corporation, the company operates in the automotive sector and is known for its diverse range of products, including hatchbacks, sedans, SUVs, and vans. MARUTI has established a strong market presence through its extensive dealership network, innovative technology, and commitment to quality, making it a household name in the Indian automotive industry.

How the Company Makes Money

Maruti Suzuki generates revenue through multiple key streams, primarily from the sale of vehicles, including a wide range of models catering to different segments of the market. The company earns money not only from the direct sale of cars but also from providing after-sales services, spare parts, and accessories to customers. Additionally, MARUTI benefits from its partnerships with various financial institutions, offering financing and insurance products to buyers, which further enhances its revenue. The company's strategic collaborations with Suzuki Motor Corporation enable it to leverage advanced technology and research, improving product offerings and operational efficiencies. Furthermore, the growing demand for electric vehicles and the company's initiatives in this sector present new revenue opportunities. Overall, Maruti Suzuki's robust market positioning, customer-centric approach, and diversified product portfolio contribute significantly to its earnings.

Maruti Suzuki India Limited Financial Statement Overview

Summary

Maruti Suzuki India Limited exhibits strong financial health with impressive growth in revenue and profits, efficient cost and cash flow management, and a solid balance sheet with minimal leverage. The company's performance highlights operational excellence and a stable financial position, positioning it well for future growth and resilience against industry fluctuations.

Income Statement

Maruti Suzuki India Limited has demonstrated strong financial performance with consistent revenue growth, evidenced by a revenue increase from ₹677.89 billion in 2021 to ₹1,451.10 billion in 2025. The Gross Profit Margin has generally remained solid, reflecting efficient cost management. The Net Profit Margin has improved significantly, from 6.47% in 2021 to 9.99% in 2025, indicating enhanced profitability. The EBIT and EBITDA Margins have also shown positive trends, supporting the company's strong operating performance.

Balance Sheet

The company's balance sheet is robust, with a healthy Debt-to-Equity Ratio consistently below 0.03, suggesting low leverage and financial stability. The Return on Equity (ROE) has improved from 8.36% in 2021 to 15.07% in 2025, reflecting effective use of shareholders' funds. The Equity Ratio has been strong, showcasing a solid capital structure, although it has slightly decreased from 73.64% in 2021 to 72.91% in 2025 due to increased liabilities.

Cash Flow

Maruti Suzuki has shown excellent cash flow management with a significant improvement in Free Cash Flow from negative in 2022 to ₹54.96 billion in 2025, indicating strong operational efficiency and capital investment returns. The Operating Cash Flow to Net Income Ratio has remained robust, highlighting efficient cash generation relative to profits. Free Cash Flow to Net Income Ratio improvements further demonstrate effective cash utilization.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.56T	1.53T	1.42T	1.18T	883.30B	703.72B
Gross Profit	440.97B	439.52B	408.13B	318.38B	216.42B	190.32B
EBITDA	192.31B	201.46B	186.97B	130.94B	57.33B	53.91B
Net Income	145.33B	145.00B	134.88B	82.64B	38.80B	43.89B
Balance Sheet
Total Assets	0.00	1.32T	1.15T	845.97B	746.55B	712.83B
Cash, Cash Equivalents and Short-Term Investments	88.87B	122.39B	92.00B	41.54B	71.81B	114.91B
Total Debt	0.00	1.17B	1.19B	13.19B	4.25B	5.41B
Total Liabilities	-962.40B	357.32B	297.15B	228.06B	193.22B	187.82B
Stockholders Equity	962.40B	962.40B	856.36B	746.00B	553.34B	525.01B
Cash Flow
Free Cash Flow	0.00	54.96B	76.01B	29.04B	-16.19B	64.86B
Operating Cash Flow	0.00	161.36B	168.01B	92.51B	18.41B	88.56B
Investing Cash Flow	0.00	-144.56B	-118.65B	-80.36B	-2.39B	-72.91B
Financing Cash Flow	0.00	-41.55B	-40.62B	-12.13B	-16.07B	-15.45B

Maruti Suzuki India Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 15453.45
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MARUTI, the sentiment is Neutral. The current price of 15453.45 is below the 20-day moving average (MA) of 16146.32, below the 50-day MA of 15738.94, and above the 200-day MA of 13114.68, indicating a neutral trend. The MACD of 0.53 indicates Positive momentum. The RSI at 36.20 is Neutral, neither overbought nor oversold. The STOCH value of 7.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MARUTI.

Maruti Suzuki India Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MARUTI	76 Outperform	₹4.83T	32.70	―	0.87%	10.62%	4.43%
EICHERMOT	76 Outperform	₹1.90T	39.23	―	1.03%	15.21%	15.48%
TATAMOTORS	70 Neutral	₹1.50T	7.06	―	0.89%	-1.08%	-34.23%
M&M	68 Neutral	₹4.45T	28.09	―	4.03%	20.60%	19.80%
HYUNDAI	65 Neutral	₹1.94T	34.02	―	0.88%	-0.35%	-4.21%
BAJAJ.AUTO	64 Neutral	₹2.44T	32.17	―	2.41%	12.27%	-4.25%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Maruti Suzuki India Limited Corporate Events

Maruti Suzuki Schedules Q2 Earnings Call for Analysts and Investors

Maruti Suzuki India Limited announced a scheduled earnings call for analysts and investors to discuss the financial results for the second quarter of the fiscal year 2025-26. This call, set for October 31, 2025, will provide insights into the company’s financial performance and strategic direction, potentially impacting investor sentiment and market positioning.

Maruti Suzuki Reduces Car Prices Following GST Revision

Maruti Suzuki India Limited has announced a reduction in automobile prices following a revision in GST rates, effective from September 22, 2025. This move is aimed at passing the full benefit of the GST reduction to customers and stimulating the Indian Passenger Vehicle Industry. The price cuts affect various models, providing a significant financial incentive for potential buyers and potentially strengthening Maruti Suzuki’s market position.

Maruti Suzuki Unveils Grand Vitara PHANTOM BLAQ Edition Celebrating NEXA’s Decade

Maruti Suzuki India Limited celebrates the 10th anniversary of its premium dealership channel, NEXA, by unveiling the Grand Vitara PHANTOM BLAQ Edition. This limited edition SUV, available exclusively in the Strong Hybrid Alpha+ variant, features a distinctive matte black exterior and premium interior finishes, reflecting NEXA’s commitment to sophistication and style. The launch highlights Maruti Suzuki’s strategic focus on enhancing its product offerings in the mid-size SUV segment, where the Grand Vitara has already achieved significant success with 300,000 sales in 32 months. The new edition is expected to further boost its appeal among discerning buyers seeking a blend of performance and elegance.

Maruti Suzuki Releases Investor Call Transcript for Q2 2025

Maruti Suzuki India Limited has released the transcript of its investors’ call held on July 31, 2025, discussing the financial results for the quarter ending June 30, 2025. The transcript is available on the company’s website, providing stakeholders with insights into the company’s financial performance and strategic outlook.

Maruti Suzuki Subsidiary Faces CGST Tax Demand

Maruti Suzuki India Limited has announced that its wholly owned subsidiary, Suzuki Motor Gujarat Private Limited, received an appellate order from the Gujarat CGST Authority. The order upholds a tax demand of Rs. 861 million for services under reverse charge from April 2020 to August 2022, along with an interest and a penalty of Rs. 86 million. Despite the financial implications, the company states that this order will not significantly impact its financial or operational activities. Suzuki Motor Gujarat plans to appeal the decision before the Tribunal.