Maruti Suzuki India Ltd logo

Maruti Suzuki India Ltd

MARUTI NSE

Key Fundamentals

LargecapCars & Utility VehiclesAutomobiles
Market Cap
4.4L Cr
Volatility
Moderate
P/E Ratio
30.34
EBITDA
₹25,813 Cr
Return on Equity
13.7%
Debt to Equity
0
Book Value
₹3,408.25
EPS
₹467.71
52W High
₹17,370
52W Low
₹12,201

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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35 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

4
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 26.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 29.5%

Growth Rate

Revenue Growth
18.83% ↗
Net Income Growth
1.24% ↗
Cash Flow Change
18.05% ↗
ROE
-9.09% ↘
ROCE
-11.87% ↘
EBITDA Margin (Avg.)
-13.74% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

Maruti Suzuki India commands ~40% of the Indian passenger vehicle market with FY2025 record sales of 2,234,266 units and an all-time high net profit of ₹13,955 crore (up 5.6% YoY). The stock trades at a P/E of 30.5x and P/B of 4.08x on a market cap of ~₹4.36 lakh crore, while the company remains virtually debt-free and is entering the EV segment with its e Vitara launch.

Bull Case 8
  • Dominant market share of ~40-43% in Indian passenger vehicles as of FY2025, providing unmatched scale advantages in distribution, service network, and supplier bargaining power
  • Virtually debt-free balance sheet gives financial flexibility for EV investments and capacity expansion to 4 million units annually without leveraging the company
  • Record net profit of ₹13,955 crore in FY2025, with compounded profit growth of 27% CAGR over 5 years demonstrating consistent earnings power
  • Strong export growth of 17.5% in FY2025 with 332,585 units exported, diversifying revenue beyond the domestic market and positioning India as a global manufacturing hub
  • Compounded sales growth of 21% CAGR over 5 years and 16% over 3 years indicates sustained top-line momentum well above India's GDP growth
  • Healthy dividend payout ratio of 29.5% with a current dividend yield of 1.01%, providing shareholder returns while retaining capital for growth
  • Early EV traction with the e Vitara launch — already emerged as India's fourth-largest EV brand with 4,365 units sold between January-May 2026, ahead of Hyundai, BYD, and Kia
  • ROE of 16% over 3 years on a debt-free balance sheet reflects genuine operating efficiency rather than financial leverage-driven returns
Bear Case 8
  • TTM profit growth has turned negative at -1%, with FY2025 net profit growing only 5.6% YoY despite a 27% TTM sales growth — indicating significant margin compression
  • P/E of 30.5x is elevated for an auto company with single-digit near-term profit growth, leaving limited room for earnings disappointments
  • Late entrant in the EV market where Tata Motors holds dominant share; EV penetration reached 4.3% in FY26 and Maruti captured only ~2% of EV market cumulatively in FY26
  • Domestic sales grew only 2.7% in FY2025 — a sharp slowdown from the 16% three-year sales CAGR, signaling potential saturation in core segments
  • Market share dipped below 40% in April 2025 (to 39.44% from 40.39% in April 2024) as Tata Motors and Mahindra gained ground through SUV and EV offerings
  • Heavy dependence on the small-car and entry-level segment where volumes are structurally declining as consumer preferences shift toward SUVs and premium vehicles
  • Intensifying competition from Hyundai, Tata, and Mahindra in the SUV segment, which is the fastest-growing category in Indian PVs, where Maruti historically underperformed
  • ROE declined from 16% (3-year average) to 14% in the last year, and the 10-year ROE average of 13% suggests returns may revert lower as capex intensifies for EV and capacity expansion

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

AI News Digest

Anthropic anthropic claude-opus-4.6 3h ago
Headwinds 3
  • Commodity & gas price margin pressure Jul 31

    Maruti Suzuki exec flagged higher commodity and gas prices compressing margins, compounded by rising material costs amid ongoing geopolitical tensions.

  • Q1FY27 net profit declines 10.8% Aug 1

    Consolidated net profit fell 10.8% YoY to ₹34,469 million in Q1FY27 despite a 35.9% surge in revenue, indicating margin squeeze.

  • Price hike up to ₹30,000 Jul 21

    Maruti Suzuki will raise prices by up to ₹30,000 across models from August 2026 due to rising input costs, which could dampen demand.

Positives 7
  • Hansalpur plant hits 1M capacity Jul 30

    Fourth plant at Hansalpur, Gujarat commenced commercial production on July 30, raising facility capacity to 1 million units annually — India's largest single-location PV manufacturing hub.

  • Record domestic sales in July Aug 1

    Total sales of 241,421 units in July 2026 with domestic sales hitting an all-time high of 200,123 units. Production surged to 248,845 units vs 187,073 units YoY.

  • Parent Suzuki Motor profit surges 80% Aug 5

    Suzuki Motor Q1FY26 net profit jumped 80% YoY to ¥183.6 billion on strong overseas demand, with revenue up 22% to ¥1,705.8 billion.

  • ₹140/share dividend proposed at AGM Aug 8

    Board recommends record ₹140 per share dividend for FY 2025-26 at the 45th AGM scheduled August 31, with PAT at ₹144,454 million.

  • New Brezza Turbo launched at ₹7.39L Jul 25

    Launched the New Brezza Turbo Boosterjet starting at ₹7.39 lakh with 997cc engine, 6-speed manual, and advanced safety features to strengthen SUV portfolio.

  • ₹5.61B clean energy CBG investment Jul 31

    Announced 4 Compressed Biogas projects in first phase backed by ₹5.61 billion investment as part of clean energy diversification strategy.

  • BRSR ESG report filed for FY26 Aug 8

    Submitted Business Responsibility and Sustainability Report for FY 2025-26 disclosing ESG performance, environmental targets, and governance frameworks.

Neutral 4
  • 4.4M unit capacity target by FY33 Aug 6

    Confirmed long-term capacity expansion to 4.4 million units by FY33 while managing rising costs without major price increases despite West Asia geopolitical concerns.

  • Exec sees 10% growth headroom Jul 31

    A Maruti Suzuki executive stated the company has supply-side headroom to support around 10% growth based on manufacturing and supply chain capacity.

  • ₹27Cr block trade on BSE Jul 22

    A block trade of approximately 20,000 shares executed at ₹13,500 per share worth ₹27 crore on BSE, indicating large-lot institutional activity.

  • Q1FY27 earnings call scheduled Jul 28

    Earnings call for Q1FY27 was scheduled for July 31, 2026 at 5:15 PM IST for analysts and investors.

TL;DR: Maruti Suzuki is firing on volume growth with record July domestic sales, a major capacity expansion at Hansalpur taking it to 1M units, and a strong parent company performance. Key risks center on margin compression from commodity/gas costs and geopolitical uncertainty, evidenced by the 10.8% profit decline in Q1FY27 despite strong revenue growth. The ₹140 dividend and aggressive capacity roadmap to 4.4M units by FY33 signal management confidence. The trend is positive on volumes and strategic execution, but near-term profitability pressure warrants monitoring.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
32,535
37,339
33,513
38,471
35,779
37,449
38,764
40,920
38,605
42,344
49,904
52,462
52,470
Expenses
29,015
32,028
29,073
33,250
30,673
32,450
33,688
36,076
33,983
37,258
44,331
46,304
48,156
Operating Profit
3,520
5,312
4,440
5,221
5,107
4,999
5,076
4,844
4,623
5,086
5,573
6,158
4,313
OPM %
11%
14%
13%
14%
14%
13%
13%
12%
12%
12%
11%
12%
8%
Other Income
1,110
958
1,053
1,261
1,118
1,570
1,125
1,583
1,924
1,014
1,140
581
1,972
Interest
46
35
36
76
57
43
46
48
47
57
62
73
64
Depreciation
1,314
1,342
1,302
1,298
1,332
1,386
1,429
1,462
1,556
1,703
1,735
1,748
1,780
PBT
3,269
4,892
4,156
5,108
4,836
5,141
4,726
4,918
4,944
4,339
4,917
4,918
4,441
Tax %
22%
23%
23%
23%
22%
40%
21%
20%
23%
23%
21%
26%
22%
Net Profit
2,543
3,786
3,207
3,952
3,760
3,102
3,727
3,911
3,792
3,349
3,879
3,659
3,447
EPS in Rs
84.18
125
102
126
120
98.68
119
124
121
107
123
116
110
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
1,97,181
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
1,61,786
1,76,050
Operating Profit
6,892
9,024
10,421
12,118
11,056
7,355
5,411
5,752
11,029
18,626
20,224
21,530
21,131
OPM %
14%
16%
15%
15%
13%
10%
8%
7%
9%
13%
13%
12%
11%
Other Income
817
1,464
2,399
2,155
2,664
3,410
3,046
1,861
2,307
4,248
5,199
4,569
4,707
Interest
218
82
89
346
76
134
102
127
187
194
194
239
255
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
6,966
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
18,616
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
14,334
EPS in Rs
126
182
249
261
253
188
145
128
272
429
461
467
456
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
34,689
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
1,31,016
1,48,880
Fixed Assets
12,490
12,530
13,311
13,389
15,437
15,744
14,989
13,747
17,830
27,865
32,983
34,523
CWIP
1,890
1,007
1,252
2,132
1,607
1,415
1,497
2,936
2,904
7,735
7,929
9,838
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
23,839
27,680
Total Assets
34,477
42,726
51,960
60,248
63,969
63,628
71,376
74,656
84,597
1,15,304
1,31,016
1,48,880
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
16,180
19,100
Investing
-4,491
-7,230
-9,173
-8,302
-3,540
-557
-7,291
-239
-8,036
-11,865
-14,500
-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
5,601
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
57
61
Cash Conversion Cycle
-20
-32
-33
-42
-29
-20
-44
-26
-22
-31
-18
-19
Working Capital Days
-26
-27
-36
-40
-30
-20
-50
-30
-26
-26
-24
-29
ROCE %
19%
23%
24%
24%
19%
9%
11%
6%
14%
24%
22%
19%

Shareholding Pattern

As of Jun 2026
Promoters 58.65%
DIIs 25.18%
FIIs 12.82%
Public 2.68%
Others 0.66%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Nov 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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%
58.65%
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%
12.82%
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%
25.18%
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%
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%
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%
0.66%
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
4,11,238

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 Automobiles sector within the Cars & Utility Vehicles 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 ₹435101.72 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 30.34. 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 1.01%. 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 13.70%. 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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