Maruti Suzuki India Ltd.

NSE: MARUTI · Passenger Cars & Utility Vehicles

52W Range₹12,201 ₹17,370

Snapshot

Unlock Maruti Suzuki India Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Maruti Suzuki India Limited is a leading automotive manufacturer primarily engaged in the production and sale of passenger vehicles, multi-utility vehicles, and spare parts. The company operates an extensive service network and provides ancillary services including car financing, insurance, and pre-owned vehicle sales.

Business Model

The company generates revenue through the manufacturing and sale of motor vehicles and components, supported by a vast dealership and service workshop network. It further monetises its ecosystem through value-added services such as fleet management, driving schools, and financial product facilitation.

  • Workshop Network:4,254
  • Cities Covered:2,134

Growth Outlook

Growth is driven by the expansion of the utility vehicle portfolio and the deepening of the company's service and financing ecosystem across India. Continued investment in distribution infrastructure remains a key pillar for maintaining market leadership.

Key Risks

  • Input Cost Volatility. Fluctuations in raw material prices, particularly steel and precious metals, can significantly impact operating margins.
  • Regulatory and Emission Standards. Stricter government mandates regarding vehicle emissions and safety standards require continuous and costly technological upgrades.
  • Competitive Intensity. The Indian passenger vehicle market faces aggressive competition from both domestic and international manufacturers, putting pressure on market share and pricing power.
  • Supply Chain Disruptions. Dependency on global semiconductor supply chains poses a risk to production continuity and delivery timelines.

Price

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Key Metrics

REVENUE

₹1,83,316 Cr

TTM · consolidated

+19.9%YoY

NET PROFIT

₹14,680 Cr

TTM · consolidated

+1.2%YoY

EPS

₹466.90

TTM · consolidated

+1.2%YoY

RETURN ON EQUITY

14.8%

TTM · consolidated

-1.6 ppYoY

RETURN ON CAPITAL EMPLOYED

18.3%

TTM · consolidated

-2.9 ppYoY

P/E

29.5x

Q4 FY26 · consolidated

29.5 vs 54.2x5Y avg

EV/EBITDA

16.8x

Q4 FY26 · consolidated

16.8 vs 31.6x5Y avg

EBITDA MARGIN

14.1%

TTM · consolidated

-2.4 ppYoY

NET PROFIT MARGIN

7.0%

Q4 FY26 · consolidated

-2.6 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.00xYoY

Peers · Passenger Cars & Utility Vehicles

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Maruti Suzuki India Ltd.MARUTI
3,94,19929.5216.7819.9%14.1%14.8%18.3%+9.7%
Mahindra & Mahindra Ltd.M&M
3,78,42420.3612.3824.8%20.3%23.0%17.2%-2.5%
Tata Motors Passenger Vehicles Ltd. - Ordinary Shares - DVR (Class A)TATAMTRDVR
3,72,5046.3117.9%15.4%61.9%22.0%
Hyundai Motor India Ltd.HYUNDAI
1,51,09130.3016.4313.5%31.5%37.2%-5.2%
Tata Motors Passenger Vehicles Ltd.TMPV
1,14,982-553.006.26-20.4%7.7%71.8%1.2%
Tata Motors Ltd.TATAMOTORS
1,13,1029.0%

As of Q4 FY26

Financials