Maruti Suzuki India Ltd logo

Maruti Suzuki India Ltd

MARUTI NSE

The Company was established in 1981. A joint venture agreement was signed between the Government of India and Suzuki Motor Corporation (SMC), Japan in 1982. The Company became a subsidiary of SMC in 2002.It is the market leader in passenger vehicle segment in India. In terms of production volume and sales, the Company is now SMC’s largest subsidiary. SMC currently holds 56.28% of its equity stake. The principal activities of the Company are manufacturing, purchase and sale of motor vehicles, components and spare parts.

AI Verdict: BUY Confidence: 7%

Maruti Suzuki commands a dominant market position with strong 27% profit CAGR over 5 years, near-zero debt, and overwhelming analyst consensus (84% Buy). However, a PE of 28.7x with decelerating TTM profit growth of just 2% suggests limited near-term upside, warranting a moderate-confidence Buy.

Key Fundamentals

LargecapCars & Utility VehiclesAutomobiles
Market Cap
4.3L Cr
Volatility
Moderate
P/E Ratio
29.44
EBITDA
₹12,522 Cr
Return on Equity
15.75%
Debt to Equity
0
Book Value
₹3,408.25
EPS
₹467.71
52W High
₹17,370
52W Low
₹12,201

Technical Indicators

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has delivered good profit growth of 27.0% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 29.5%

Growth Rate

Revenue Growth
10.41% ↗
Net Income Growth
2.06% ↗
Cash Flow Change
-3.96% ↘
ROE
-4.32% ↗
ROCE
-0.86% ↘
EBITDA Margin (Avg.)
-56.15% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
BUY
Risk medium

Maruti Suzuki commands a dominant market position with strong 27% profit CAGR over 5 years, near-zero debt, and overwhelming analyst consensus (84% Buy). However, a PE of 28.7x with decelerating TTM profit growth of just 2% suggests limited near-term upside, warranting a moderate-confidence Buy.

Bull Case 8
  • Overwhelming analyst consensus with 84.2% Buy ratings (32 out of 38 analysts) signals strong institutional conviction
  • Exceptional 5-year compounded profit growth of 27% CAGR demonstrates sustained earnings momentum
  • Company is virtually debt-free, providing significant financial flexibility and resilience during downturns
  • Robust 3-year compounded sales growth of 16% indicates consistent top-line expansion and market share retention
  • Healthy dividend payout ratio of 29.5% with 1.05% yield provides steady income for long-term shareholders
  • 3-year ROE improvement to 16% from 10-year average of 13% shows improving capital efficiency
  • TTM sales growth of 20% suggests continued demand strength in the current fiscal year
  • Market cap of Rs 4.21 lakh crore with 13% stock CAGR over 10 years reflects consistent long-term wealth creation
Bear Case 8
  • TTM compounded profit growth has sharply decelerated to just 2% versus 30% over 3 years, signaling margin compression
  • PE ratio of 28.7x is elevated for an auto company with slowing profit growth, implying rich valuations
  • Price-to-book of 3.93x leaves limited margin of safety if growth disappoints further
  • Last year ROE of 14% declined from the 3-year average of 16%, indicating deteriorating return efficiency
  • Only 5% stock return over 1 year significantly underperforms the 3-year CAGR of 13%, showing recent momentum loss
  • 5.26% of analysts rate the stock a Sell, and with slowing profits, downgrades could increase
  • Consumer discretionary sector faces headwinds from rising interest rates and potential demand slowdown in rural and urban markets
  • Gap between 20% TTM sales growth and 2% TTM profit growth implies significant cost pressures eroding operating leverage

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 3
  • Production up 17.4% in May Jun 1

    Total production rose 17.4% to 230,041 units in May 2026, led by Utility Vehicles and Compact segments.

  • India's first flex-fuel car launched Jun 4

    Maruti launched the flex-fuel Wagon R supporting E20 to E85 ethanol blends, aligning with government energy security goals.

  • Skill development push in Gujarat Jun 22

    Signed agreement with Gujarat Government to set up manufacturing labs in 5 Industrial Training Institutes for vocational training.

Neutral 5
  • Suzuki encumbers 58.53% stake Jun 16

    Suzuki Motor Corporation encumbered 18,40,05,476 shares (58.53% of Maruti Suzuki), disclosed to exchanges on April 6, 2026.

  • ₹65.12 Cr block trade on NSE Jun 18

    Approximately 47,740 shares traded at ₹13,641 per share in a single block deal worth ₹65.12 crores, indicating institutional activity.

  • ₹16.96 Cr block trade on NSE May 27

    Around 12,885 shares traded at ₹13,163 per share in a block deal worth ₹16.96 crores.

  • Trading window closed for Q1FY27 Jun 19

    Trading window shut for designated persons from July 1, 2026 until 48 hours after Q1FY27 results announcement.

  • Investor meetings scheduled May 26

    Maruti Suzuki scheduled investor meetings on June 1 and June 2, 2026 under SEBI Regulation 30.

TL;DR: Maruti Suzuki shows strong operational momentum with 17.4% production growth in May 2026 and strategic moves like India's first flex-fuel car launch. No material headwinds emerged in this period. Block trades at elevated price levels (₹13,163–₹13,641) suggest steady institutional interest. The near-term outlook is constructive heading into Q1FY27 results, with production volumes and product innovation supporting the growth narrative.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
32,214
32,535
37,339
33,513
38,471
35,779
37,449
38,764
40,920
38,605
42,344
49,904
52,462
Expenses
28,320
29,015
32,028
29,073
33,250
30,673
32,450
33,688
36,076
33,983
37,258
44,331
46,304
Operating Profit
3,894
3,520
5,312
4,440
5,221
5,107
4,999
5,076
4,844
4,623
5,086
5,573
6,158
OPM %
12%
11%
14%
13%
14%
14%
13%
13%
12%
12%
12%
11%
12%
Other Income
850
1,110
958
1,053
1,261
1,118
1,570
1,125
1,583
1,924
1,014
1,140
581
Interest
164
46
35
36
76
57
43
46
48
47
57
62
73
Depreciation
1,240
1,314
1,342
1,302
1,298
1,332
1,386
1,429
1,462
1,556
1,703
1,735
1,748
PBT
3,341
3,269
4,892
4,156
5,108
4,836
5,141
4,726
4,918
4,944
4,339
4,917
4,918
Tax %
20%
22%
23%
23%
23%
22%
40%
21%
20%
23%
23%
21%
26%
Net Profit
2,688
2,543
3,786
3,207
3,952
3,760
3,102
3,727
3,911
3,792
3,349
3,879
3,659
EPS in Rs
88.97
84.18
125
102
126
120
98.68
119
124
121
107
123
116
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
50,801
57,589
68,085
79,809
86,068
75,660
70,372
88,330
1,17,571
1,41,858
1,52,913
1,83,316
Expenses
43,909
48,565
57,664
67,692
75,012
68,305
64,961
82,578
1,06,542
1,23,232
1,32,689
1,61,860
Operating Profit
6,892
9,024
10,421
12,118
11,056
7,355
5,411
5,752
11,029
18,626
20,224
21,456
OPM %
14%
16%
15%
15%
13%
10%
8%
7%
9%
13%
13%
12%
Other Income
817
1,464
2,399
2,155
2,664
3,410
3,046
1,861
2,307
4,248
5,199
4,643
Interest
218
82
89
346
76
134
102
127
187
194
194
239
Depreciation
2,515
2,822
2,604
2,760
3,021
3,528
3,034
2,789
2,826
5,256
5,608
6,742
PBT
4,976
7,585
10,127
11,167
10,624
7,103
5,321
4,697
10,323
17,424
19,620
19,118
Tax %
24%
28%
26%
29%
28%
20%
18%
17%
20%
23%
26%
23%
Net Profit
3,809
5,497
7,511
7,881
7,651
5,678
4,389
3,880
8,211
13,488
14,500
14,680
EPS in Rs
126
182
249
261
253
188
145
128
272
429
461
467
Div. Payout %
20%
19%
30%
31%
32%
32%
31%
47%
33%
29%
29%
30%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
151
151
151
151
151
151
151
151
151
157
157
157
Reserves
24,167
30,465
36,924
42,408
46,941
49,262
52,350
55,182
61,640
85,479
96,083
1,06,999
Borrowings
666
231
484
121
160
184
541
426
1,247
119
87
102
Other Liabilities
9,492
11,879
14,402
17,568
16,717
14,031
18,335
18,896
21,558
29,550
35,644
41,622
Total Liabilities
34,477
42,726
51,960
60,248
63,969
63,628
71,376
74,656
84,597
1,15,304
1,31,971
1,48,881
Fixed Assets
12,490
12,530
13,311
13,389
15,437
15,744
14,989
13,747
17,830
27,865
32,983
34,955
CWIP
1,890
1,007
1,252
2,132
1,607
1,415
1,497
2,936
2,904
7,735
7,929
9,406
Investments
13,298
20,676
29,151
36,123
37,504
37,488
42,945
42,035
49,184
57,296
66,265
76,838
Other Assets
6,800
8,513
8,247
8,604
9,421
8,980
11,946
15,937
14,678
22,408
24,794
27,681
Total Assets
34,477
42,726
51,960
60,248
63,969
63,628
71,376
74,656
84,597
1,15,304
1,31,971
1,48,881
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
6,449
8,482
10,282
11,788
6,601
3,496
8,856
1,840
9,251
16,801
16,136
19,100
Investing
-4,491
-7,230
-9,173
-8,302
-3,540
-557
-7,291
-239
-8,036
-11,865
-14,456
-14,734
Financing
-2,004
-1,237
-1,129
-3,436
-2,948
-3,104
-1,545
-1,607
-1,213
-4,062
-4,155
-4,484
Net Cash Flow
-45
16
-20
50
113
-165
20
-6
2
874
-2,475
-118
Free Cash Flow
3,408
6,026
6,907
7,903
1,899
96
6,528
-1,483
3,004
7,646
5,533
8,754
CFO/OP
109
115
121
122
88
67
182
52
104
110
99
109
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
8
8
6
7
10
10
7
8
10
12
16
11
Inventory Days
28
30
25
21
20
22
22
20
18
19
23
31
Days Payable
57
70
65
70
59
51
73
54
50
62
70
61
Cash Conversion Cycle
-20
-32
-33
-42
-29
-20
-44
-26
-22
-31
-31
-19
Working Capital Days
-26
-27
-36
-40
-30
-20
-50
-30
-26
-26
-24
2
ROCE %
19%
23%
24%
24%
19%
9%
11%
6%
14%
24%
22%
19%

Shareholding Pattern

As of Mar 2026
Promoters 58.53%
DIIs 24.18%
FIIs 14.12%
Public 2.68%
Others 0.50%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Nov 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
56.37%
56.37%
56.37%
56.37%
56.37%
56.37%
56.37%
56.37%
56.48%
56.48%
56.48%
58.19%
58.19%
58.19%
58.19%
58.19%
58.28%
58.28%
58.28%
58.28%
58.28%
58.53%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
21.84%
0.00%
20.60%
19.65%
18.98%
17.68%
15.47%
14.96%
15.20%
15.78%
15.76%
14.12%
DIIs
14.85%
15.60%
15.69%
15.16%
16.12%
17.83%
16.86%
18.34%
18.70%
18.20%
18.30%
16.07%
17.77%
18.99%
19.50%
20.89%
22.96%
23.64%
23.33%
22.63%
22.91%
24.18%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
3.73%
3.50%
3.61%
3.26%
3.25%
3.11%
3.00%
3.24%
3.17%
2.93%
2.83%
2.76%
2.88%
2.65%
2.78%
2.67%
2.77%
2.62%
2.55%
2.52%
2.52%
2.68%
Others
25.05%
24.53%
24.33%
25.20%
24.25%
22.69%
23.76%
22.05%
21.64%
22.38%
0.54%
22.98%
0.55%
0.52%
0.54%
0.57%
0.52%
0.50%
0.63%
0.78%
0.52%
0.50%
No. of Shareholders
4,61,379
4,42,482
4,63,718
4,21,912
4,31,889
3,95,441
3,92,551
4,18,288
4,15,127
3,78,323
3,68,608
3,74,814
3,87,767
3,64,375
3,89,314
3,82,573
4,06,570
3,78,893
3,67,608
3,69,205
3,66,153
4,00,860

Documents

Frequently Asked Questions about Maruti Suzuki India Ltd

What does Maruti Suzuki India Ltd do?
The Company was established in 1981. A joint venture agreement was signed between the Government of India and Suzuki Motor Corporation (SMC), Japan in 1982. The Company became a subsidiary of SMC in 2002.It is the market leader in passenger vehicle segment in India. In terms of production volume ...
Where is Maruti Suzuki India Ltd (MARUTI) listed?
Maruti Suzuki India Ltd is listed on the Indian stock exchanges. It is listed on NSE: MARUTI and BSE: 532500. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Maruti Suzuki India Ltd belong to?
Maruti Suzuki India Ltd operates in the Consumer Discretionary sector within the Automobiles industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Maruti Suzuki India Ltd?
Maruti Suzuki India Ltd has a market capitalisation of approximately ₹427901.90 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Maruti Suzuki India Ltd?
The Price-to-Earnings (PE) ratio of Maruti Suzuki India Ltd is 29.44. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Maruti Suzuki India Ltd?
Over the past 52 weeks, Maruti Suzuki India Ltd has traded between a low of ₹12,201 and a high of ₹17,370. This range helps investors understand the stock's price volatility and recent trading levels.
Does Maruti Suzuki India Ltd pay dividends?
Yes, Maruti Suzuki India Ltd has a dividend yield of 1.06%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Maruti Suzuki India Ltd?
Maruti Suzuki India Ltd has a Return on Equity (ROE) of 15.75%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Maruti Suzuki India Ltd on Tapetide?
On Tapetide, you can view Maruti Suzuki India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

The Company was established in 1981. A joint venture agreement was signed between the Government of India and Suzuki Motor Corporation (SMC), Japan in 1982. The Company became a subsidiary of SMC in 2002.It is the market leader in passenger vehicle segment in India. In terms of production volume and sales, the Company is now SMC’s largest subsidiary. SMC currently holds 56.28% of its equity stake. The principal activities of the Company are manufacturing, purchase and sale of motor vehicles, components and spare parts.

Website marutisuzuki.com
CEO Mr. Hisashi Takeuchi
Employees 19,966
Listed 2003-07-09
Face Value ₹ 5
Issued Size 31,44,02,574

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