Maruti Suzuki India Limited (MARUTI) AI Stock Analysis

• Market Cap: ₹4.65T
• Dividend Yield: 0.91%
• Average Volume (3M): 11.72K
• Price to Earnings (P/E): 32.0
• Beta (1Y): 0.78
• Revenue Growth: 7.53%
• EPS Growth: -2.90%
• Country: IN
• Employees: 18,228
• Sector: Consumer Cyclical
• Sector Strength: 79
• Industry: Auto - Manufacturers
• EPS (TTM): 118.10
• Shares Outstanding: 314,402,600
• 10 Day Avg. Volume: 21,299
• 30 Day Avg. Volume: 11,722
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: ₹14,568.00
• Price Target Upside: -1.50% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 9

• Rating: 70 Outperform
• Price Target: ₹15,483.00 ▲(4.69% Upside)

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 (MARUTI) is a leading automobile manufacturer in India, primarily operating in the automotive sector. The company is a subsidiary of the Japanese automotive giant Suzuki Motor Corporation. Maruti Suzuki specializes in the production and sale of passenger vehicles, including hatchbacks, sedans, SUVs, and vans. Known for its wide range of fuel-efficient and affordable vehicles, Maruti Suzuki has established itself as a dominant player in the Indian automotive market.

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 2020
Income Statement
Total Revenue	1.51T	1.45T	1.42T	1.13T	851.69B	677.89B
Gross Profit	344.19B	379.94B	408.13B	263.98B	157.38B	128.88B
EBITDA	252.26B	251.78B	225.45B	152.94B	73.93B	82.29B
Net Income	145.00B	145.00B	134.88B	82.64B	38.80B	43.89B
Balance Sheet
Total Assets	1.32T	1.32T	1.15T	845.97B	746.55B	712.83B
Cash, Cash Equivalents and Short-Term Investments	122.39B	122.39B	92.00B	22.35B	71.81B	114.91B
Total Debt	870.00M	870.00M	1.19B	12.47B	4.25B	5.41B
Total Liabilities	357.32B	357.32B	297.15B	228.06B	193.22B	187.82B
Stockholders Equity	962.40B	962.40B	856.36B	617.91B	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	-122.43B	-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: 14789.95
• 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 14789.95 is above the 20-day moving average (MA) of 13423.93, above the 50-day MA of 12828.69, and above the 200-day MA of 12025.11, indicating a bullish trend. The MACD of 607.93 indicates Negative momentum. The RSI at 87.41 is Negative, neither overbought nor oversold. The STOCH value of 91.82 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
M&M	82 Outperform	₹3.98T	25.99		5.91%	17.72%	24.18%
BAJAJ.AUTO	75 Outperform	₹2.41T	31.74		2.43%	12.27%	-4.25%
HYUNDAI	71 Outperform	₹2.00T	36.20		0.85%	-2.62%	-11.26%
TATAMOTORS	71 Outperform	₹2.46T	11.62		0.90%	-1.08%	-34.23%
MARUTI	70 Outperform	₹4.65T	32.00		0.91%	7.53%	-2.90%
EICHERMOT	69 Neutral	₹1.67T	34.57		1.15%	15.21%	15.48%
Sector *	61 Neutral	$17.64B	14.17	-5.23%	3.04%	1.43%	-15.11%

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.