Maruti Suzuki India Limited (MARUTI) AI Stock Analysis

• Market Cap: ₹4.99T
• Dividend Yield: 0.85%
• Average Volume (3M): 19.89K
• Price to Earnings (P/E): 34.3
• Beta (1Y): 0.78
• Revenue Growth: 7.53%
• EPS Growth: -2.90%
• Country: IN
• Employees: 18,228
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Manufacturers
• EPS (TTM): 118.10
• Shares Outstanding: 314,402,600
• 10 Day Avg. Volume: 23,045
• 30 Day Avg. Volume: 19,886
• 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: ₹16,043.75
• Price Target Upside: 1.09% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12

• Rating: 70 Outperform
• Price Target: ₹15,483.00 ▼(-2.44% Downside)

Maruti Suzuki India Limited's overall stock score is driven by its strong financial performance, which is the most significant factor. The technical analysis indicates bullish momentum, but caution is advised due to overbought signals. The valuation suggests the stock might be overvalued, which tempers the overall score.

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, and multi-purpose vehicles. It is also involved in the facilitation of pre-owned car sales, fleet management, and car financing. In addition, the company offers driving school, accessories, insurance, and financing products and services. As of March 31, 2022, it had a network of 4,254 workshops across 2,134 cities. The company was formerly known as Maruti Udyog Limited and changed its name to Maruti Suzuki India Limited in September 2007. The company was incorporated in 1981 and is headquartered in New Delhi, India. Maruti Suzuki India Limited is a subsidiary of Suzuki Motor Corporation.

How the Company Makes Money

Maruti Suzuki India Limited generates revenue through the manufacturing and sale of automobiles. Its primary revenue stream comes from the domestic market, where it sells a range of passenger vehicles under the Maruti Suzuki brand. The company also earns money from exports, selling vehicles to various international markets. Additionally, Maruti Suzuki offers after-sales services, including vehicle maintenance and repair, which contribute to its earnings. The company benefits from its extensive dealership network across India, which facilitates vehicle sales and service delivery. Furthermore, Maruti Suzuki collaborates with financial institutions to provide financing options to its customers, enhancing vehicle affordability and boosting sales.

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	1.52T	1.45T	1.42T	1.18T	883.30B	703.72B
Gross Profit	356.73B	379.94B	408.13B	263.98B	157.38B	128.88B
EBITDA	256.05B	251.78B	225.45B	152.94B	73.93B	82.29B
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: Positive
• Last Price: 15870.90
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MARUTI, the sentiment is Positive. The current price of 15870.9 is above the 20-day moving average (MA) of 15088.36, above the 50-day MA of 13656.48, and above the 200-day MA of 12346.03, indicating a bullish trend. The MACD of 595.10 indicates Negative momentum. The RSI at 79.81 is Negative, neither overbought nor oversold. The STOCH value of 90.06 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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
TATAMOTORS	76 Outperform	2.61T	12.30	24.24%	0.85%	-1.08%	-34.23%
BAJAJ.AUTO	75 Outperform	2.50T	32.98	20.82%	2.34%	12.27%	-4.25%
M&M	74 Outperform	4.47T	29.20	16.78%	4.06%	17.72%	24.18%
HYUNDAI	71 Outperform	2.28T	41.33	34.61%	0.75%	-2.62%	-11.26%
MARUTI	70 Outperform	₹4.99T	34.33		0.85%	7.53%	-2.90%
EICHERMOT	69 Neutral	1.91T	39.51	22.23%	1.00%	15.21%	15.48%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Maruti Suzuki India Limited Corporate Events

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.