Maruti Suzuki India Limited (MSIL), a subsidiary of Suzuki Motor Corporation, is India's largest passenger car company, accounting for over 50% of the domestic car market. MSIL's Q2FY19 revenue growth at 3.1% YoY was lower than our estimates mainly due to tepid festive sales volume (down 1.5% YoY). The company managed to restrict EBITDA margin decline to 160 bps YoY in Q2FY19 on account of higher other operating income (one-off income related to Suzuki) and cost saving initiatives....