Maruti Suzuki India Limited (IN:MARUTI)
:MARUTI
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Maruti Suzuki India Limited
(MARUTI)
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Rating:76Outperform
Price Target:
₹14,568.00
▲(8.29% Upside)
Action:ReiteratedDate:10/23/25
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.
Positive Factors
Very Low Leverage
Maruti's extremely low debt profile and strong equity base give it durable financial flexibility. Low leverage reduces refinancing risk, supports steady capital allocation for R&D, capacity expansion and cyclical downturns, and preserves credit optionality over the medium term.
Negative Factors
India Revenue Concentration
Heavy reliance on the Indian passenger vehicle market concentrates earnings risk to domestic economic cycles, policy shifts and local competition. Limited geographic diversification can amplify revenue volatility from regulatory changes or demand slowdowns in India over 2-6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Maruti's extremely low debt profile and strong equity base give it durable financial flexibility. Low leverage reduces refinancing risk, supports steady capital allocation for R&D, capacity expansion and cyclical downturns, and preserves credit optionality over the medium term.
Read all positive factors
Maruti Suzuki India Limited (MARUTI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.16T
Dividend Yield0.81%
Average Volume (3M)16.49K
Price to Earnings (P/E)33.8
Beta (1Y)1.02
Revenue Growth14.16%
EPS Growth2.68%
CountryIN
Employees18,228
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)114.20
Shares Outstanding314,402,600
10 Day Avg. Volume11,821
30 Day Avg. Volume16,486
Financial Highlights & Ratios
PEG Ratio3.32
Price to Book (P/B)3.75
Price to Sales (P/S)2.36
P/FCF Ratio65.68
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 ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)556.59
Revenue Forecast (FY)₹2.05T
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
85
Very Positive
Balance Sheet
80
Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.61T | 1.53T | 1.42T | 1.18T | 883.30B | 703.72B |
| Gross Profit | 412.69B | 439.52B | 408.13B | 318.38B | 216.42B | 190.32B |
| EBITDA | 202.92B | 201.46B | 186.97B | 130.94B | 57.33B | 53.91B |
| Net Income | 147.79B | 145.00B | 134.88B | 82.64B | 38.80B | 43.89B |
Balance Sheet | ||||||
| Total Assets | 1.38T | 1.32T | 1.15T | 845.97B | 746.55B | 712.83B |
| Cash, Cash Equivalents and Short-Term Investments | 53.04B | 122.39B | 92.00B | 41.54B | 71.81B | 114.91B |
| Total Debt | 1.65B | 1.17B | 1.19B | 13.19B | 4.25B | 5.41B |
| Total Liabilities | 387.09B | 357.32B | 297.15B | 228.06B | 193.22B | 187.82B |
| Stockholders Equity | 997.44B | 962.40B | 856.36B | 746.00B | 553.34B | 525.01B |
Cash Flow | ||||||
| Free Cash Flow | -7.03B | 54.96B | 76.01B | 29.04B | -16.19B | 64.86B |
| Operating Cash Flow | 49.71B | 161.36B | 168.01B | 92.51B | 18.41B | 88.56B |
| Investing Cash Flow | -5.14B | -144.56B | -118.65B | -80.36B | -2.39B | -72.91B |
| Financing Cash Flow | -43.44B | -41.55B | -40.62B | -12.13B | -16.07B | -15.45B |
Maruti Suzuki India Limited Technical Analysis
Neutral
13452.25
Price Trends
13905.75
Negative
15040.00
Negative
14744.54
Negative
Market Momentum
-112.84
Negative
52.08
Neutral
70.62
Neutral
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 13452.25 is above the 20-day moving average (MA) of 12906.78, below the 50-day MA of 13905.75, and below the 200-day MA of 14744.54, indicating a neutral trend. The MACD of -112.84 indicates Negative momentum. The RSI at 52.08 is Neutral, neither overbought nor oversold. The STOCH value of 70.62 is Neutral, 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹4.16T | 33.83 | ― | 0.81% | 14.16% | 2.68% | |
72 Outperform | ₹264.28B | 16.68 | ― | 0.22% | 14.71% | 170.17% | |
65 Neutral | ₹1.49T | 37.82 | ― | 0.91% | 1.92% | 1.53% | |
63 Neutral | ₹3.86T | 8.44 | ― | 3.05% | 22.30% | 26.78% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | ₹1.30T | -9.70 | ― | 1.00% | -17.31% | 176.71% | |
41 Neutral | ₹3.55B | 1,557.49 | ― | ― | -100.00% | -89.01% |
* Consumer Cyclical Sector Average
IN:MARUTI
Maruti Suzuki India Limited
12,891.70
1,171.24
9.99%
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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.