Maruti Suzuki India Ltd.
NSE: MARUTIMaruti Suzuki India Ltd.: A 30-second snapshot
Maruti Suzuki (₹13,395) is India's largest passenger vehicle maker by market share, trading above its 50-DMA (₹13,270) but 9.8% below the 200-DMA (₹14,854) and 22.88% off its 52-week high. Trailing PE of 28.7x compares to a forward PE of 21.7x, reflecting market expectations of earnings recovery. Over 5 years, revenue grew 28.2% while earnings declined 6.4%, and ROE of 14.43% sits below all profitable Auto sector peers.
P/E
28.7
Forward P/E
21.7
ROE
+14.4%
Debt / Equity
0.10
Profit Margin
+8.0%
Div. Yield
+1.1%
5Y ROE > 15%
2/5
5Y FCF > 0
4/5
Quality
62/100
News
8 headlines · 7 positive · 1 negative
EXCLUSIVE: Maruti Suzuki To Ramp Up Production By 22% YoY in FY27 - Autocar Professional
Autocar Professional
Maruti Suzuki launches India's first flex-fuel car - Automotive World
Automotive World
Maruti Victoris sales cross 1 lakh units in India - Autocar India
Autocar India
Maruti Suzuki Plans ₹925 Cr Green Energy Investment by FY31 - Saur Energy
Saur Energy
Maruti Suzuki to invest Rs 925 crore in biogas and green energy projects by FY31 - BusinessLine
BusinessLine
Recent context
- ·Maruti announced plans to ramp production 22% YoY in FY27, and the Victoris SUV crossed 1 lakh cumulative unit sales — both flagged as positive operational developments in recent coverage (June 2026).
- ·The company launched India's first flex-fuel car and committed ₹925 crore to biogas and green energy infrastructure by FY31, signalling a technology-transition investment cycle.
- ·Analyst coverage stands at 38 analysts with a mean rating of 1.58 on a 1–5 scale (lower = more constructive), alongside a forward PE of 21.7x that implies earnings recovery expectations are embedded in current pricing.
Strengths
- +Debt-to-equity of 0.096 is near-zero, with a falling debt trend over the review period — balance sheet leverage is minimal relative to Auto sector norms.
- +FCF was positive in 4 of the 5 tracked years, and consistency score of 84 reflects above-average financial discipline across the measurement horizon.
- +Forward PE of 21.7x is below the trailing PE of 28.7x and below peer Eicher Motors (38.1x) and Bosch (42.8x), indicating the market is pricing in near-term earnings improvement.
- +Recent operational catalysts include India's first flex-fuel car launch, Victoris crossing 1 lakh cumulative unit sales, a planned 22% YoY production ramp in FY27, and ₹925 crore committed to green energy by FY31.
Weaknesses
- −5-year earnings growth of -6.4% against revenue growth of 28.2% indicates that higher revenues have not translated to profit growth over the historical window.
- −ROE of 14.43% (2 of 5 years above 15%) is the weakest among profitable Auto peers, which range from M&M at 18.75% to Bajaj Auto at 28.05%.
- −Quality score of 31 ranks 5th of 6 peers, with only TMPV (16) scoring lower; the gap to sector leader Eicher Motors (66) and Bajaj Auto (55) is material.
- −The stock remains below its 200-DMA (₹14,854) and is 22.88% off the 52-week high, with resistance levels clustering at ₹13,508, ₹13,797, and ₹13,976 above current price.
Open questions
- ?Does the planned 22% production ramp in FY27 rest on demand visibility, or does it increase execution risk if domestic passenger vehicle demand softens?
- ?What is driving the 5-year divergence between 28.2% revenue growth and -6.4% earnings growth — is it raw material costs, royalty payments to Suzuki Japan, or competitive pricing pressure — and are those factors structurally changing?
- ?With ROE at 14.43% and quality score ranking near the bottom of Auto peers, does Maruti's market-share dominance justify a premium to peers on a returns basis?
- ?How does the ₹925 crore green-energy investment affect near-term FCF and capex, and what is the expected payback timeline relative to the FY31 target horizon?
Peer comparison: Auto
Ranks 5 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| MARUTI | Maruti Suzuki India Ltd.You're viewing | 28.7 | +14.4% | 31 |
| Industry avg | across 5 peers | 31.8 | +17.8% | 46 |
| EICHERMOT | Eicher Motors Ltd. | 38.1 | +23.8% | 66 |
| BAJAJ-AUTO | Bajaj Auto Ltd. | 26.2 | +28.1% | 55 |
| M&M | Mahindra & Mahindra Ltd. | 20.2 | +18.8% | 52 |
| BOSCHLTD | Bosch Ltd. | 42.8 | +19.4% | 42 |
| TMPV | Tata Motors Passenger Vehicles Ltd. | — | -1.1% | 16 |
Technical state
Current price
₹13,395.00
SMA 50
₹13,270.00
SMA 200
₹14,853.58
RSI (14)
53.1 (neutral)
From 52w high
-22.9%
1Y return
+7.5%
3M return
+6.3%
50-DMA
Above
200-DMA
Below
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- medium5-year earnings growth of -6.4% contrasts with 5-year revenue growth of 28.2%, indicating cost pressures or margin headwinds have prevented operating leverage from reaching the bottom line.
- mediumROE of 14.43% with only 2 of 5 tracked years above 15% is the lowest among profitable Auto peers: Bajaj Auto 28.05%, Eicher Motors 23.77%, Bosch 19.35%, and M&M 18.75%.
- mediumQuality score of 31 ranks MARUTI 5th out of 6 Auto peers; Eicher Motors leads at 66, followed by Bajaj Auto 55, M&M 52, and Bosch 42. Only TMPV (16) scores lower.
- mediumPrice of ₹13,395 is below the 200-DMA (₹14,854), representing a 22.88% drawdown from the 52-week high; the stock has been trading under the 200-DMA despite a 6.32% recovery over the past 3 months.
Cross-section contradictions
- Revenue grew 28.2% over five years while earnings declined 6.4% over the same period — volume-driven top-line expansion has not produced commensurate profit growth, suggesting structural cost or pricing headwinds.
- News flow is predominantly positive (7 of 8 articles, including a planned 22% YoY production ramp-up and record Victoris sales crossing 1 lakh units), yet the stock remains 22.88% below its 52-week high — recent operational momentum has not been reflected in the price trend.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 25 Jun 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 22 Jun 2026 · rotates through NIFTY 500 every ~5 days