News

Anand Rathi's research report on Maruti Suzuki

Maruti Suzuki’s Q4 standalone EBITDA declined 9% y/y to Rs42.6bn, below our estimated Rs49.3bn. Domestic volumes would clock a 5% CAGR over FY25-27 due to higher income levels (income-tax cuts), a rebound in first-time buyers, rural demand, launches and lower finance costs. Exports would record a stronger, 16%, volume CAGR by levering Toyota/Suzuki’s global networks and portfolio expansion (e-Vitara). We expect healthy, 7%/12%/15%/18%, volume/revenue/EBITDA/ core PAT growth over FY25-27, driven by domestic and export volume/realisation growth and margin expansion. The stock quotes at attractive P/Es of 21x/19x FY26e/27e EPS, much lower than the past median of 28x.

Outlook

We retain a Buy rating with a lower sum-of-parts TP of Rs 13,350 (earlier Rs14,200), 25x FY27e core EPS of Rs465 and cash of Rs1,702/sh.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Maruti Suzuki - 28042025 - anand

Discover the latest Business News, Budget 2025 News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Sensex Today Jammu Kashmir News Live Ather Energy IPO JNU Poll Results GIFT Nifty India Economy Apple App Store Dalai Lama TS SSC Results 2025 IPL Points Table 2025

Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups

Home Currencies Commodities Pre-Market IPO Global Market Bonds

Home Loans up to 50 Lakhs Credit Cards Lifetime Free Finance TrackerNew Fixed Deposits Fixed Deposit Comparison Fixed Income

Home MC 30 Top Ranked Funds ETFs Mutual Fund Screener

Income Tax Calculator EMI Calculator Retirement Planning Gratuity Calculator

Stock Markets

News18 Firstpost CNBC TV18 News18 Hindi Cricketnext Overdrive Topper Learning

About Us Contact Us Advisory Alert Advertise with Us SupportDisclaimer Privacy Policy Cookie Policy Terms & Conditions Financial Terms (Glossary) Sitemap Investors

You are already a Moneycontrol Pro user.