Maruti Suzuki India Ltd

MARUTI

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Market Cap

₹ 5,15,719 Cr

P/E

34.89

Turned 1 L into 2.13 L in last 5 Years

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

LOW RISK

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Price

PE Ratio

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Overview

Detailed Summary

Maruti Suzuki India Limited is India's largest passenger car manufacturer with an extensive product line including sedans, hatchbacks, and SUVs.

The company launched its first Battery Electric Vehicle (BEV), the e VITARA, and commenced lithium-ion battery production, reflecting a strong commitment to EV technology.

Maruti Suzuki reported robust export growth, with a significant 42.2% increase in Q2 FY26, partly due to new BEV exports to European markets.

Despite a 5.1% decline in domestic sales in the latest quarter, retail sales surged post-GST reduction, especially during the festive season, showcasing market resilience.

Maruti aims to regain a 50% market share in India through new SUV launches and continuous enhancement of customer service networks.

Sector

Automobile

Industry

Automobiles - passenger cars

Market Cap

5,15,719 Cr

Volatility

Low Risk

P/E Ratio

34.9

Industry P/E

26.6

PEG Ratio

2.5

P/B Ratio

5.2

52W High

16,673.90

52W Low

10,725.00

Sales CAGR

7.79%

19.82%

14.97%

10Y

9.88%

Profit CAGR

7.50%

54.74%

19.82%

10Y

11.21%

ROE

TTM

14.82%

14.86%

12.65%

10Y

14.09%

ROCE

TTM

18.55%

18.78%

15.81%

10Y

18.02%

Technicals

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Forecasts

No. of Analysts

42

1Y Price Target

17973.34 ▲ 9.93%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Nov 14, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
MARUTI	16374.25	5,15,719 Cr	34.89	5.17	0.82	14.82	18.55	10.67
M&M	3607.55	4,48,609 Cr	31.52	5.41	0.68	17.18	14.07	5.29
BAJAJ-AUTO	8915.30	2,49,692 Cr	29.98	7.31	2.35	24.38	22.43	12.73
EICHERMOT	7127.00	1,95,305 Cr	38.24	8.84	0.98	23.12	28.27	17.65
HYUNDAI	2296.95	1,86,637 Cr	32.65	10.63	0.91	32.56	40.26	18.22
TVSMOTOR	3639.40	1,72,903 Cr	66.39	21.30	0.27	32.28	15.86	5.36
TMCV	378.00	1,39,192 Cr	—	189.02	0.00	0.00	0.00	—

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	32,535	37,339	33,513	38,471	35,779	37,449	38,764	40,920	38,605	42,344
Expenses	29,015	32,028	29,073	33,250	30,673	32,450	33,688	36,076	33,983	37,258
Operating Profit	3,520	5,312	4,440	5,221	5,107	4,999	5,077	4,844	4,623	5,086
OPM %	10.82	14.22	13.25	13.57	14.27	13.35	13.10	11.84	11.97	12.01
Other Income	1,110	958	1,053	1,261	1,118	1,571	1,125	1,583	1,924	1,014
Interest	47	35	36	76	57	43	46	48	47	57
Depreciation	1,314	1,342	1,302	1,298	1,332	1,386	1,429	1,462	1,556	1,703
Profit Before Tax	3,269	4,892	4,156	5,108	4,836	5,141	4,726	4,918	4,944	4,339
Tax %	22.21	22.61	22.83	22.62	22.25	39.65	21.14	20.47	23.29	22.82
Net Profit	2,543	3,786	3,207	3,952	3,760	3,103	3,727	3,911	3,792	3,349
EPS in Rs	77.71	115.70	102.00	125.71	119.58	98.68	118.54	124.40	120.62	106.52

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	77,316	82,041	86,069	75,660	70,372	88,330	1,18,410	1,41,858	1,52,913	1,55,739
Expenses	57,727	67,746	75,065	68,347	65,020	82,624	1,05,316	1,23,332	1,32,757	1,36,197
Operating Profit	19,590	14,295	11,003	7,313	5,352	5,706	13,094	18,526	20,156	19,542
OPM %	25.34	17.42	12.78	9.67	7.60	6.46	11.06	13.06	13.18	12.55
Other Income	2,462	2,209	2,717	3,453	3,105	1,907	2,442	4,348	5,266	6,202
Interest	89	346	76	134	102	127	252	194	194	184
Depreciation	2,604	2,760	3,021	3,528	3,034	2,789	4,846	5,256	5,608	5,833
Profit Before Tax	10,127	11,167	10,624	7,103	5,321	4,697	10,438	17,425	19,620	19,728
Tax %	25.83	29.43	27.99	20.07	17.51	17.41	20.83	22.59	26.09	26.33
Net Profit	7,511	7,881	7,651	5,678	4,389	3,880	8,264	13,488	14,500	14,533
EPS in Rs	—	—	243.34	180.58	139.61	123.40	255.81	421.12	461.20	470.08
Dividend Payout %	30.17	30.67	31.59	31.92	30.97	46.72	34.24	29.14	29.27	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	151	151	151	151	151	151	151	157	157	157
Reserves	30,465	36,924	42,408	46,941	49,262	52,350	55,183	74,443	85,479	96,083
Borrowings	77	484	121	158	182	538	423	1,248	119	87
Other Liabilities	12,032	14,402	17,568	16,719	14,033	18,337	18,899	24,538	29,596	35,645
Total Liabilities	42,726	51,961	60,248	63,969	63,628	71,376	74,656	1,00,385	1,15,351	1,31,972
Fixed Assets	12,530	13,311	13,389	15,437	15,744	14,989	13,747	27,941	27,865	32,983
CWIP	1,007	1,252	2,132	1,607	1,415	1,497	2,937	4,143	7,735	7,929
Investments	20,676	29,151	36,123	37,504	37,488	42,945	42,035	49,184	57,296	66,265
Other Assets	8,513	8,247	8,604	9,421	8,980	11,946	15,937	19,117	22,455	24,795
Total Assets	42,726	51,961	60,248	63,969	63,628	71,376	74,656	1,00,385	1,15,351	1,31,972

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	8,483	10,282	11,788	6,601	3,496	8,856	1,841	10,815	16,801	16,136
Cash from Investing Activity	-7,230	-9,173	-8,302	-3,540	-557	-7,291	-239	-8,821	-11,865	-14,456
Cash from Financing Activity	-1,237	-1,129	-3,436	-2,948	-3,104	-1,545	-1,607	-1,214	-4,062	-4,155
Net Cash Flow	16	-21	50	113	-165	20	-5.70	780	874	-2,475

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Nov 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	56.48%	56.48%	56.48%	58.19%	58.19%	58.19%	58.19%	58.19%	58.28%	58.28%	58.28%	58.28%
FIIs	21.11%	21.88%	21.84%	20.93%	20.60%	19.65%	18.98%	17.68%	15.47%	14.96%	15.20%	15.78%
DIIs	18.71%	18.21%	18.30%	17.63%	17.78%	18.99%	19.51%	20.89%	22.96%	23.64%	23.33%	22.64%
Public	3.70%	3.43%	3.37%	3.26%	3.43%	3.17%	3.32%	3.23%	3.28%	3.11%	3.18%	3.30%
Total Shareholders	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

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Oct 26, 2023	Aia vcc - aia asian equity fund	Block	Buy	10,439.50	28.21 Cr	27,021	0.00
Oct 26, 2023	Aia investment trust-aia sing...	Block	Sell	10,439.50	24.31 Cr	23,283	0.00
Oct 26, 2023	Aia investment trust aia sing...	Block	Sell	10,439.50	2.02 Cr	1,938	0.00
Oct 26, 2023	Aia investment trust aia sing...	Block	Sell	10,439.50	1.24 Cr	1,192	0.00
Oct 26, 2023	Aia investment trust aia sing...	Block	Sell	10,439.50	0.63 Cr	608	0.00
Oct 19, 2023	Aia vcc - aia asian equity fund	Block	Buy	10,777.45	59.13 Cr	54,861	0.01
Oct 19, 2023	Aia investment trust - aia si...	Block	Sell	10,777.45	50.95 Cr	47,271	0.01
Oct 19, 2023	Aia investment trust aia sing...	Block	Sell	10,777.45	2.61 Cr	2,421	0.00
Oct 19, 2023	Aia investment trust aia sing...	Block	Sell	10,777.45	1.33 Cr	1,235	0.00
Oct 19, 2023	Aia investment trust aia sing...	Block	Sell	10,777.45	4.24 Cr	3,934	0.00

Projection

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Announcements

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Sentiment

ESG Rating

6 days ago

Maruti Suzuki ESG Rating Upgrade

NSE Sustainability Ratings and Analytics Limited upgraded Maruti Suzuki's ESG rating to 73 in FY 2025 from 71 in FY 2024.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	32,535	37,339	33,513	38,471	35,779	37,449	38,764	40,920	38,605	42,344
Expenses	29,015	32,028	29,073	33,250	30,673	32,450	33,688	36,076	33,983	37,258
Operating Profit	3,520	5,312	4,440	5,221	5,107	4,999	5,077	4,844	4,623	5,086
OPM %	10.82	14.22	13.25	13.57	14.27	13.35	13.10	11.84	11.97	12.01
Other Income	1,110	958	1,053	1,261	1,118	1,571	1,125	1,583	1,924	1,014
Interest	47	35	36	76	57	43	46	48	47	57
Depreciation	1,314	1,342	1,302	1,298	1,332	1,386	1,429	1,462	1,556	1,703
Profit Before Tax	3,269	4,892	4,156	5,108	4,836	5,141	4,726	4,918	4,944	4,339
Tax %	22.21	22.61	22.83	22.62	22.25	39.65	21.14	20.47	23.29	22.82
Net Profit	2,543	3,786	3,207	3,952	3,760	3,103	3,727	3,911	3,792	3,349
EPS in Rs	77.71	115.70	102.00	125.71	119.58	98.68	118.54	124.40	120.62	106.52

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	77,316	82,041	86,069	75,660	70,372	88,330	1,18,410	1,41,858	1,52,913	1,55,739
Expenses	57,727	67,746	75,065	68,347	65,020	82,624	1,05,316	1,23,332	1,32,757	1,36,197
Operating Profit	19,590	14,295	11,003	7,313	5,352	5,706	13,094	18,526	20,156	19,542
OPM %	25.34	17.42	12.78	9.67	7.60	6.46	11.06	13.06	13.18	12.55
Other Income	2,462	2,209	2,717	3,453	3,105	1,907	2,442	4,348	5,266	6,202
Interest	89	346	76	134	102	127	252	194	194	184
Depreciation	2,604	2,760	3,021	3,528	3,034	2,789	4,846	5,256	5,608	5,833
Profit Before Tax	10,127	11,167	10,624	7,103	5,321	4,697	10,438	17,425	19,620	19,728
Tax %	25.83	29.43	27.99	20.07	17.51	17.41	20.83	22.59	26.09	26.33
Net Profit	7,511	7,881	7,651	5,678	4,389	3,880	8,264	13,488	14,500	14,533
EPS in Rs	—	—	243.34	180.58	139.61	123.40	255.81	421.12	461.20	470.08
Dividend Payout %	30.17	30.67	31.59	31.92	30.97	46.72	34.24	29.14	29.27	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	151	151	151	151	151	151	151	157	157	157
Reserves	30,465	36,924	42,408	46,941	49,262	52,350	55,183	74,443	85,479	96,083
Borrowings	77	484	121	158	182	538	423	1,248	119	87
Other Liabilities	12,032	14,402	17,568	16,719	14,033	18,337	18,899	24,538	29,596	35,645
Total Liabilities	42,726	51,961	60,248	63,969	63,628	71,376	74,656	1,00,385	1,15,351	1,31,972
Fixed Assets	12,530	13,311	13,389	15,437	15,744	14,989	13,747	27,941	27,865	32,983
CWIP	1,007	1,252	2,132	1,607	1,415	1,497	2,937	4,143	7,735	7,929
Investments	20,676	29,151	36,123	37,504	37,488	42,945	42,035	49,184	57,296	66,265
Other Assets	8,513	8,247	8,604	9,421	8,980	11,946	15,937	19,117	22,455	24,795
Total Assets	42,726	51,961	60,248	63,969	63,628	71,376	74,656	1,00,385	1,15,351	1,31,972

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	8,483	10,282	11,788	6,601	3,496	8,856	1,841	10,815	16,801	16,136
Cash from Investing Activity	-7,230	-9,173	-8,302	-3,540	-557	-7,291	-239	-8,821	-11,865	-14,456
Cash from Financing Activity	-1,237	-1,129	-3,436	-2,948	-3,104	-1,545	-1,607	-1,214	-4,062	-4,155
Net Cash Flow	16	-21	50	113	-165	20	-5.70	780	874	-2,475