NSE: MARUTI | BSE: 532500

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14895.00 233.00 (1.59%)

New 52W High in past week

485.1K NSE+BSE Volume

NSE 05 Sep, 2025 3:31 PM (IST)

468,302.7

Market Cap

Market Leader

0.9

Beta 1Year

Low volatility

Analyst Buy

ICICI Securities maintains 'Buy' call on Maruti Suzuki, expects a revenue CAGR of 14% over FY26-28 See details

Maruti Suzuki India Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for MARUTI, BSE:532500 Maruti Suzuki India Ltd.

Maruti Suzuki India Ltd.

25 Oct 2019

14895.00

1.59%

Maruti Suzuki India

Sell: Maruti Suzuki India Ltd.

Target

ICICI Securities Limited

FY20E a write-off, BS-VI transition more palatable for PV space The PV segment has suffered heavily amid the overall auto space weakness that has persisted since the 2018 festive period. Rise in ownership costs (additional safety features, higher fuel prices), slowing consumption demand and increasing preference for shared mobility in some pockets posed volume challenges to players. YTDFY20 volume decline at MSIL was at ~25% YoY, which includes a steep decline of 30% in Q2FY20. We believe BS-VI transition would be relatively more palatable for the PV segment since...

Maruti Suzuki India Ltd. has gained 28.23% in the last 6 Months

Maruti Suzuki India Ltd.

25 Oct 2019

14895.00

1.59%

Maruti Suzuki (MSIL)

Sell: Maruti Suzuki India Ltd.

Recommendation Target

Karvy

Expensive Valuations Retain SELL:During Q2FY20, MSIL sales declined by 24.3% YoY to Rs169.9 bn (above our estimates Rs159.7 bn).

Maruti Suzuki India .. has an average target of 14107.15 from 14 brokers.

Maruti Suzuki India Ltd.

24 Oct 2019

14895.00

1.59%

Maruti Suzuki (2QFY20): Beneficiary of changing dynamics. Maintain NEUTRAL

Neutral: Maruti Suzuki India Ltd.

Target

HDFC Securities

We remain NEUTRAL as valuations are demanding at current stock levels (33.2/26x FY20/21E). We recommend buying the stock on corrections as Maruti enjoys a strong franchise with a dominant market share of ~50%. Also, Maruti will benefit from the transition to BSVI due to its gasoline led portfolio. 2QFY20 PAT at Rs 13.6bn was above estimates as improved realizations (+8% YoY), lower tax rates and higher other income partially offset the impact of the weak volumes. We are raising estimates by ~5% over FY21/22E to factor in the above. Maintain NEUTRAL with a revised TP of Rs 6,770 (22x Sep-21 EPS).

Number of FII/FPI investors decreased from 1163 to 1143 in Jun 2025 qtr

Maruti Suzuki India Ltd.

24 Oct 2019

14895.00

1.59%

Q2FY20 Result Update

Buy: Maruti Suzuki India Ltd.

Target

Prabhudas Lilladhar

Maruti Suzuki's 2QFY20 results were operationally in-line with margins came in at 9.5%. However, higher other income and lower tax rate led to a beat in PAT at Rs13.6bn (PLe: Rs11bn). Going forward, the benefit of soft RM price, cost control benefits to be partially offset by higher spends in run up to BS6. With positive demand outlook and controlled inventory levels (even for BS4 vehicles) we believe MSIL is well placed amongst OEMs in light of, a)...

Maruti Suzuki India Ltd. has gained 20.46% in the last 1 Month

Maruti Suzuki India Ltd.

24 Oct 2019

14895.00

1.59%

Maruti Suzuki - 2QFY20 Result Update

Hold: Maruti Suzuki India Ltd.

Recommendation Target

Reliance Securities

Maruti Suzuki India (MSIL) has delivered in line performance in 2QFY20. Its subdued performance was primarily impacted by low volume and pricing pressure amid competitive intensity. Company's volume fell by 30% YoY and 16% QoQ to 338,317 units. Its revenue fell by 24% YoY and 14% QoQ to Rs169.8bn, 3% higher than our estimates, EBIDTA margins of 9.5% (our estimate of 9.5%) contracted by 584bps YoY and 93bps QoQ. Such sharp contraction in margin happened for the third consecutive time. EBIDTA fell by 53% YoY and 22% QoQ to Rs16bn owing to higher discount, adverse exchange rate and lower volume. Its PAT declined by 39% YoY and 5% QoQ to Rs13.6bn, mainly benefited from lower tax rate. Its Other Exp/Sales rose by 133bps YoY and...

Maruti Suzuki India Ltd. is trading above all available SMAs

Maruti Suzuki India Ltd.

24 Oct 2019

14895.00

1.59%

Maruti Suzuki

Hold: Maruti Suzuki India Ltd.

Target

Sharekhan

Maruti Suzuki Ltd (MSIL) Q2 FY20 results were ahead of our as well as consensus estimates on operating margins as well profitability front. MSIL posted better than expected operating margins due to cost control measures such as productivity improvement measures, controlling cost overheads and increased localisation. Further, a steep surge in other income on account of fair value gain on investments & lower tax due to adoption of new corporate tax structure led to profit beat. While the management has indicated a marginal positive growth in the festive...

Maruti Suzuki India .. has an average target of 14107.15 from 14 brokers.

Maruti Suzuki India Ltd.

30 Aug 2019

14895.00

1.59%

MARUTI SUZUKI INDIA LIMITED

Hold: Maruti Suzuki India Ltd.

Recommendation Target

Geojit BNP Paribas

Maruti Suzuki India Limited (MSIL) is an automobile manufacturer with a 56.2% ownership in Japanese car and motorcycle manufacturer Suzuki Motor Corporation. It is one of the largest passenger car companies and...

Maruti Suzuki India Ltd. has gained 20.46% in the last 1 Month

Maruti Suzuki India Ltd.

07 Aug 2019

14895.00

1.59%

FY 20 - an unpredictable year, but expect normalcy in FY21

Buy: Maruti Suzuki India Ltd.

Motilal Oswal

FY20 an unpredictable year, but expect normalcy in FY21 EV launch in 2020 | CNG & hybrids to compensate for diesel discontinuance Our analysis of MSIL FY19 annual report revealed the company's take on (a) the current demand environment and outlook, (b) its Toyota alliance, (c) its strategy on EVs and other alternate fuels, and (d) plans for cost reduction. Key insights highlighted below: FY20 is expected to be an unpredictable year due to three major regulations the mandatory ABS, second phase of safety regulations and BS6 implementation. Company sees normalcy returning in FY21 with expectations of MSIL garnering its...

Number of FII/FPI investors decreased from 1163 to 1143 in Jun 2025 qtr

Maruti Suzuki India Ltd.

30 Jul 2019

14895.00

1.59%

Maruti Suzuki India Ltd

Maruti Suzuki India Ltd.

Angel Broking

For 1QFY2020, Maruti Suzuki India (MSIL) posted below expectation results both on top-line and bottom-line fronts. MSIL's standalone top-line registered a decline of ~12% yoy to `19,720cr on the back of volume de-growth of 18%. Moreover, the company's operating margins contracted by 454bps yoy. On the standalone bottom-line front, MSIL reported de-growth of ~27% yoy

Maruti Suzuki India Ltd. has gained 28.23% in the last 6 Months

Maruti Suzuki India Ltd.

29 Jul 2019

14895.00

1.59%

Maruti Suzuki (1QFY20): Weak performance. Downgrade to NEUTRAL

Neutral: Maruti Suzuki India Ltd.

Recommendation Target

HDFC Securities

Downgrade to NEUTRAL as (1) An expected demand recovery in 2H is delayed (2) Valuations are not adequately factoring in the current downturn (3) We would recommend buying on dips as Maruti enjoys a strong franchise with a dominant market share of ~50%. Also, Maruti is well prepared for the upcoming transition to BSVI due to its gasoline led portfolio. After weak 1Q operational performance, we downgrade the stock to NEUTRAL. The EBITDA margin declined 450/15bps YoY/QoQ to 10.4%. We are lowering our estimates by 6-7% for FY20-21E with a revised TP of Rs 5,820 at 20x FY21 EPS (22x earlier). An expected 2H demand recovery is delayed as the macros remain challenged and the restricted availability of finance (NBFC related) is impacting footfalls.

ICICI Securities Limited upgraded Maruti Suzuki India Ltd. to Buy with a price target of 17000.0 on 05 Sep, 2025.

Is Maruti Suzuki India Ltd. worth buying?

1115 Votes:

Buy 72.29%

Sell 15.43%

Hold 12.29%

RESEARCH REPORTS

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Buy SEE REPORTS >

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