NSE: MARUTI | BSE: 532500

Mid-range Performer

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15325.00 230.00 (1.52%)

New 52W High in past week

444.6K NSE+BSE Volume

NSE 12 Sep, 2025 3:31 PM (IST)

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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 Apr 2019

15325.00

1.52%

Margins hurt by several headwinds; Inventory under control

Economy Update: Maruti Suzuki India Ltd.

Motilal Oswal

25 April 2019 Revenues grew 1.4% YoY to INR214.6b (v/s est. of INR207.5b), led by 2.1% increase in realizations to INR468.1k (v/s est. of INR452.6k); but, volumes declined 0.7%. EBITDA margins at 10.5% (v/s est. of 12.1%, +70bp QoQ, -370bp YoY) were impacted by (a) inventory de-stocking, (b) fixed cost/depreciation at Gujarats new line & engine plant, (c) forex, and (d) conversion cost inflation. These headwinds were more than offset by lower discounts, price increases and lower staff costs.

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

Maruti Suzuki India Ltd.

25 Apr 2019

15325.00

1.52%

EBITDA margin expanded 70bps qoq to 10.5%, below our estimate of 13%, as the benefits of...

Hold: Maruti Suzuki India Ltd.

Target

Emkay

EBITDA margin expanded 70bps qoq to 10.5%, below our estimate of 13%, as the benefits of price increases, discounts, and scale were mostly offset by higher costs in the Gujarat plant, inventory adjustments, and adverse forex movement. Despite the increase in competitive intensity, management expects to outpace industry...

Maruti Suzuki India Ltd. has gained 25.18% in the last 1 Year

Maruti Suzuki India Ltd.

25 Apr 2019

15325.00

1.52%

Maruti Suzuki (MSIL): At the Fag-End of Weak Business Cycle -Maintain BUY

Buy: Maruti Suzuki India Ltd.

Recommendation Target

Karvy

At the Fag-End of Weak Business Cycle -Maintain BUY: During Q4FY19, MSIL sales grew by 1.4% YoY to Rs214.6bn (below ourestimates Rs235 bn). Its EBITDA margins declined by 370bps to 10.5% (belowour estimates of 12.5%).

Maruti Suzuki India Ltd. is trading above all available SMAs

Maruti Suzuki India Ltd.

04 Apr 2019

15325.00

1.52%

Our channel checks indicate near-term demand concerns due to tight liquidity conditions f...

Hold: Maruti Suzuki India Ltd.

Recommendation Target

Emkay

Our channel checks indicate near-term demand concerns due to tight liquidity conditions for business community and increasing vehicle prices. The volume performance is expected to gradually improve after elections, and single-digit growth likely in FY20. Dealer inventory days have increased to 45-50 days, in comparison with normal levels of 20-30 days, and is expected to reduce in the coming months due to lower offtake from OEMs and sequential demand improvement due to the marriage/festive season. However, MSIL is expected to sustain market share over next 1-2 years due to new products, network expansion, and shifting customer preferences toward petrol vehicles....

Maruti Suzuki India Ltd. has gained 23.07% in the last 3 Months

Maruti Suzuki India Ltd.

25 Mar 2019

15325.00

1.52%

Maruti Suzuki (Update): MSIL Toyota collaboration moves a step further. Maintain BUY

Buy: Maruti Suzuki India Ltd.

Target

HDFC Securities

We set a revised PT of Rs.7,350 based on 22x PE (on FY21 EPS). The Toyota Suzuki - Maruti relationship has moved a step further with the two Japanese OEMs announcing joint development initiatives both in India and for global markets. We expect the synergies from this relationship to be visible over the medium term. While Maruti will gain access to hybrid technology, which will ensure their continued market dominance, they will now be sharing one fourth of their portfolio by volumes with Toyota. We re-iterate our BUY on Maruti as we believe that it is well positioned to benefit from the transition post the introduction of BSVI in Apr20.

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

Maruti Suzuki India Ltd.

22 Mar 2019

15325.00

1.52%

Maruti Suzuki India

Sell: Maruti Suzuki India Ltd.

Recommendation

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research The demand situation in the domestic auto space has got aggravated post the recent muted festive season (Dussehra, Diwali 2018) with inventory levels in the system showing no signs of abatement. Consumer sentiment is muted primarily tracking higher penetration of connected mobility (ride sharing), higher insurance costs incidence, etc. As per recent FADA release, total passenger vehicles retail sales domestically are down 8.25% YoY in February 2019 with inventory in this segment at 50-60 days vs. the...

Maruti Suzuki India .. has an average target of 14714.08 from 14 brokers.

Maruti Suzuki India Ltd.

15 Feb 2019

15325.00

1.52%

Maruti Suzuki India Ltd

Buy: Maruti Suzuki India Ltd.

Angel Broking

For 3QFY2019, Maruti Suzuki India (MSIL) posted below expectation results both on top-line and bottom-line fronts. MSIL reported ~2% yoy top-line growth to `19,668cr on the back of price hike (up ~2% yoy). The company's operating margins contracted by 594bps yoy. On the bottom-line front, MSIL reported degrowth of ~17% yoy to `1,489cr on the

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

Maruti Suzuki India Ltd.

04 Feb 2019

15325.00

1.52%

Worst is over, expect improvement hereon

Buy: Maruti Suzuki India Ltd.

Target

Motilal Oswal

4 February 2019 that demand in 2HCY18 was impacted by a confluence of factors like higher fuel prices, higher interest rates, insurance cost increase and the lack of major new product launches. A comparison with other consumer discretionary items like paints and adhesives where volumes have been sustainably strong suggests that the recent weakness in passenger vehicle (PV) demand was largely a function of financing issues. In our view, correction in fuel prices, resolution of liquidity issues and upcoming new product launches are likely to drive a recovery in PV demand over the next few months. reasons for MSILs weak volumes in 2HCY18 was the lack of new product launches in CY18 and the benefit of the strong Baleno and Brezza order book already being realized in 1HCY18. We believe that the operating performance has bottomed out in 3QFY19, and expect a gradual recovery from 4QFY19 and a revival in the EBITDA margin to 14% level by 2HFY20.

Axis Direct increased Hold price target of Maruti Suzuki India Ltd. to 16425.0 on 05 Sep, 2025.

Maruti Suzuki India Ltd.

30 Jan 2019

15325.00

1.52%

Maruti Suzuki: Near Term Challenges Remains - Maintain SELL

Sell: Maruti Suzuki India Ltd.

Recommendation Target

Karvy

Near Term Challenges Remains - Maintain SELL: MSIL stock has declined by ~ 34% over the last 12 months on account ofvolumes slackness followed by reporting single digit EBITDA margin duringQ3FY19 (lowest in last 24 quarters).

Maruti Suzuki India Ltd. has gained 21.66% in the last 1 Month

Maruti Suzuki India Ltd.

29 Jan 2019

15325.00

1.52%

Maruti Suzuki India Ltd.- Result Update - 29 January 2019

Results Update: Maruti Suzuki India Ltd.

Way2Wealth

Flat Volume sales on domestic front and substantial volume decline in exports Domestic volume growth stood at 1.3% on a YoY basis at 405,597 units in Q3FY19 as against 400,586 units in Q3FY18. Exports stood at 23,046 units in Q3FY19 as against 30,526 units in Q3FY18, a decline of 24.5% YoY. Overall volumes (domestic + exports)...

Maruti Suzuki India Ltd. has gained 31.58% in the last 6 Months

Is Maruti Suzuki India Ltd. worth buying?

1116 Votes:

Buy 72.31%

Sell 15.41%

Hold 12.28%

RESEARCH REPORTS

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