Maruti Suzuki India Ltd. share price target

Resumption of new product launches to drive growth ahead While the EV threat together with the supply constraints due to semiconductor shortage have made MSIL underperform the NIFTY massively during the last one year, we believe that its new launch cycle aided by its massive scale and network advantage makes risk-reward favourable....

Strategy for net zero emissions needs to be India focused CAF-2 compliance strategy in place | Car subscription service for easy access MSIL's FY21 annual report highlights the initiatives (digitization, online financing, subscription service, etc.) it took to emerge stronger from the COVID-19 pandemic. The management has shared its thought process on the path to attaining net zero emissions....

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...

During Q1FY22, MSIL's profit declined by 62.2% QoQ to Rs4.4bn (below our estimates Rs13.3 bn). Sharp decline in profitability was attributed to lower EBITDA margins which declined by 367bps QoQ to 4.6% (below our estimates of 8%) and lower other income which declined by 61.5% YoY. Despite poor show in Q1FY22, We believe, MSIL is likely to witness robust volume recovery hereon while cost pressure is likely to ease out post H2FY22. To factor in improved business outlook and expected improvement in profitability, we increase our volume and PAT estimates by 2.9%/26.7% for FY23E. We rate the stock as...

The profit during the quarter was primarily impacted due to lower sale volumes. Commodity prices increased steeply but the company said it continued to make efforts to reduce costs. Consolidated net sales surged 332% to Rs 17,776.40 crore in Q1 FY22 over Rs 4,110.60 crore in Q1 FY21. Pre-tax profit stood at Rs 596.50 crore in Q1 FY22 as against a pre-tax loss of Rs 369.70 crore in Q1 FY21. As per the company's press statement: "The second wave of the pandemic adversely impacted on the Q1 FY22 production and sales. While all the parameters during the quarter were substantially better than Q1 FY2020-21, a comparison is not meaningful because Q1 last year had a much higher degree of disruption due to the pandemic....

We maintainour HOLD rating whilerevising our TP upwards to Rs 7,500(from Rs 6,950 earlier) and valuethe stock at 25x its FY23E EPS,implying an upside of 5% from CMP.

MSIL's Q1 revenue fell 26% QoQ while lower gross margin and higher staff cost capped EBITDA margin at 4.6%. Adj. PAT declined 62% QoQ

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...

and arrive at a TP of Rs6,100 (earlier Rs7,912) based on PER of 27x FY23E EPS. Key Highlights and Investment Rationale EBITDA margin below estimates: Net revenues increased 32% YoY/2% QoQ to Rs240bn whereas export revenue increased 15% YoY to Rs13bn. Volumes for the quarter increased...