Maruti Suzuki India Ltd.
Auto · NSE
52-week range
₹11,887 – ₹17,370
From 52w high
-21.0%
RSI (14)
57.3
vs SMA 50 / 200
↑ 50 · ↓ 200
Maruti Suzuki (MARUTI) trades at Rs 13,726, holding a 42% domestic passenger vehicle market share and posting record April 2026 monthly sales of 2.39 lakh units. The trailing PE stands at 29.4 (forward PE 21.9) with a debt-to-equity of 0.096 and a falling debt trend. Despite strong top-line momentum, 5-year earnings growth is -6.4%, the stock is 7.5% below its 200-DMA, and the quality score of 31 ranks last among 6 Auto sector peers.
- ✓Debt-to-equity of 0.096 with a falling debt trend signals a near-debt-free balance sheet relative to sector peers, reducing solvency and interest-rate sensitivity.
- ✓FCF was positive in 4 of the last 5 years, indicating the business has consistently converted operating earnings into cash despite the capital-intensive auto manufacturing cycle.
- ✓42% domestic passenger vehicle market share as of April 2026, with April 2026 marking the highest-ever monthly sales volume at 2.39 lakh units and FY26 marking the highest-ever annual production at 2.34 million units.
- ✓Forward PE of 21.9 versus trailing PE of 29.4 implies the market is pricing in meaningful earnings recovery; 40 analysts cover the stock with a mean rating of 1.55 on a 1 to 5 scale (lower = more constructive).
- ✗5-year earnings growth of -6.4% against 28.2% revenue growth points to sustained margin compression; scale has not driven profit expansion over this period.
- ✗Quality score of 31 places MARUTI 6th (last) among 6 Auto peers; Bajaj Auto (55), Eicher Motors (60), and M&M (52) all score materially higher on the composite quality metric.
- ✗ROE of 14.43% with only 2 of 5 years above 15% indicates return on equity has been inconsistent and below what peers such as Bajaj Auto (ROE 28.05%) and M&M (ROE 18.75%) have delivered.
- ✗Current price of Rs 13,726 is 7.5% below the 200-DMA of Rs 14,834 and 21% below the 52-week high, with a 3-month decline of 8.9% pointing to sustained selling pressure despite record operational metrics.
- ·Maruti reported its highest-ever monthly sales in April 2026 at 2.39 lakh units and highest-ever annual production in FY26 at 2.34 million units, with market share climbing to 42% at the start of FY27.
- ·Reuters reported Maruti added approximately $1.24 billion in market capitalisation as small car demand recovered, reflecting domestic demand resilience in entry and mid segments.
- ·Two negative-sentiment articles in the 8-item news sample indicate pockets of concern; the stock has declined 8.9% over the past 3 months despite the positive sales data, with price sitting between support at Rs 12,828 and resistance at Rs 13,797.
- ?Does the 5-year divergence between 28.2% revenue growth and -6.4% earnings growth reflect a structural shift in input costs (steel, semiconductors, Suzuki parent royalties) or a transient pricing cycle that may normalise?
- ?MARUTI ranks last on the quality score among its 6 Auto peers; does that composite metric capture a genuine competitive disadvantage, or does it reflect capital-allocation choices such as low leverage and high capex that depress short-term return ratios?
- ?The forward PE of 21.9 versus the trailing PE of 29.4 implies significant earnings growth expectations; what revenue-mix shift toward SUVs, CNG vehicles, or exports, or what cost reduction, would be required to close that gap?
- ?With the stock 7.5% below the 200-DMA despite record operational metrics, what factor, whether margin trajectory, EV transition risk, or Suzuki parent royalty structure, might explain why price has not responded to the volume data?
PE
29.4
Forward PE
22.0
ROE
+14.4%
Profit margin
+8.0%
D/E
0.10
Dividend yield
+1.0%
Quality score
31/100
ROE 5y above 15%
2/5 yrs
FCF 5y positive
4/5 yrs
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.Analysis generated 10 May 2026.