Maruti Suzuki Share Price Today Live Updates: Maruti Suzuki stock climbs 4% in early trade

Q1FY25 revenue/ EBITDA grew 10%/39% YoY to INR355.3bn/INR45bn, above estimates driven by higher realisation/other operating income and commodity deflation. Factoring in better gross margin, we are increasing FY25E and FY26E EBITDA by 4% each. We forecast a revenue CAGR of 13% over FY24–27E led by moderate growth in cars and robust growth in SUVs. Furthermore, better net pricing and scale shall boost profitability, driving an EBITDA CAGR of 15%. The launch of E-SUV (eVX model) and gradual recovery in hatchbacks demand should catalyse volumes, and support market share at 43% over FY25–27E. We retain ‘BUY’ with an unchanged TP of INR16,000 based on 30x Sep-26E core EPS plus cash of INR2,421/share

MSIL’s 1QFY25 operating performance was ahead of estimates as it was able to post margin improvement QoQ despite lower volumes and higher discounts. Margin improvement was driven by lower input cost, favorable currency benefit and higher other operating income. We have marginally tweaked our estimates. We expect MSIL to continue to outperform industry growth over FY25-26E.

Reiterate BUY with a TP of INR15,160 (premised on 26x Jun’26E EPS).

MSIL’s 1QFY25 EBITDA margin came in at 12.7%, 150bps above JMFe. Sequential improvement (40bps) was owing to better mix and cost control initiatives. MSIL, with backto-back SUV launches has strengthened its presence in the B-segment (regained leadership position with c.28% mkt. share). The company plans multiple new launches (10+) over next 6-7 years (incl. 6 new EVs and Hybrid models). Near-term demand momentum is expected to be driven by CNG / UV portfolio. Benefit of richer portfolio mix and higher operating leverage is expected to support margins going ahead. We estimate revenue / EPS CAGR of 13% / 16% over FY24-27E. We ascribe 25x PE to arrive at Jun’25 fair value of INR 15,000. Maintain BUY. Pick-up in Strong Hybrid demand remains a key catalyst for re-rating. Revival in entrylevel segment remains a key monitorable. 

Ex-Dividend 02 Aug 2024 (Tomorrow)

Last date for Cum-Dividend Today

Maruti Suzuki India Ltd.

Dividend Per Share Rs.125

Previous day Closing Price – Rs. 13167.95

Shares of Maruti Suzuki India traded at ₹13,551.45 on the NSE, higher by 3.32% as at 10 am.

Automobile companies including Maruti Suzuki, Tata Motors, Eicher Motors, Escorts, M&M, Ashok Leyland, TVS Motor, Bajaj Auto and Hero MotoCorp will remain in focus, as most of them will declare their sales figures for July. Analysts expect a mixed set of numbers from these players. However, two and three-wheelers are expected to report better sales figures, they said.

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MSIL reported a consolidated net profit of ₹3,759 crore for the first quarter (Q1) ended June 30, a year-on-year (YoY) growth of 48 per cent as compared to ₹2,542 crore in the corresponding period last year.

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Maruti stock traded at ₹13,526.45, higher by 3.13% as at 9.32 am.