Maruti Suzuki

₹9674.4 19.5 | 0.2%

WEBSITE BSE:532500 NSE : MARUTISUZUK 09 Jun, 12:26

Market Cap ₹292572 Cr.

Stock P/E 35.6

P/B 4.7

Current Price ₹9674.4

Book Value ₹ 2045.5

Face Value 5

52W High ₹9801.4

Dividend Yield 0.93%

52W Low ₹ 7626.4

Edit Ratio

Maruti Suzuki Research see more...

MSIL have good upside potential due to recent corrections in commodity prices and Fx.

Overview Inc. Year: 1981Industry: Automobiles - Passenger Cars

Maruti Suzuki India Limited is engaged within the production, buying and sale of motor vehicles, additives and spare elements. The Company's other activities accommodates facilitation of pre-owned vehicle sales, fleet management and car financing. The Company gives its products thru 3 channels, namely Nexa, Arena and Commercial. Its portfolio of Nexa merchandise consist of Baleno, XL6, Ignis, S-Cross and Ciaz. Its portfolio of Arena merchandise includes Vitara Brezza, Ertiga, Wagon-R, Dzire, Alto, Celerio, CelerioX, S-Presso, Eeco and Swift. Its portfolio of Commercial products consists of Super Carry and Eeco Cargo. Its provider services consist of Maruti Suzuki Genuine Parts, Maruti Suzuki Genuine Accessories, Maruti Suzuki Finance, Maruti Insurance, Maruti Suzuki Rewards, Maruti Suzuki Subscribe and Maruti Suzuki Driving School. The Company's plant is positioned in Palam Gurgaon Road, Gurgaon, Haryana, and at Manesar Industrial Town, Gurgaon, Haryana.

Maruti Suzuki Share Price

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

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Peer Comparison

Maruti Suzuki Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	23471	24035	17776	20551	23253	26749	26512	29943	29058	32060
Other Income	994	90	508	506	328	443	81	599	861	743
Total Income	24465	24124	18284	21057	23581	27192	26593	30542	29918	32803
Total Expenditure	21244	22040	16958	19694	21691	24320	24597	27172	26221	28708
Operating Profit	3222	2084	1327	1362	1890	2872	1996	3370	3698	4095
Interest	29	33	22	23	25	56	28	31	30	99
Depreciation	742	742	744	757	641	648	652	723	711	740
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	2451	1310	561	583	1224	2168	1316	2616	2958	3256
Provision for Tax	514	143	122	123	210	364	311	566	602	633
Profit After Tax	1937	1168	439	460	1014	1804	1005	2050	2356	2623
Adjustments	60	73	36	27	28	72	31	63	36	48
Profit After Adjustments	1997	1241	475	487	1042	1876	1036	2113	2392	2671
Adjusted Earnings Per Share	66.1	41.1	15.7	16.1	34.5	62.1	34.3	70	79.2	88.4

Maruti Suzuki Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	36090	44304	44542	50801	57589	68085	79809	86069	75660	70372	88330	117573
Other Income	844	830	739	865	1481	2290	2046	2562	3334	2936	1745	2284
Total Income	36934	45135	45281	51666	59070	70375	81855	88630	78994	73308	90075	119856
Total Expenditure	33565	39977	39247	43957	48700	57727	67746	75065	68347	65020	82624	106698
Operating Profit	3369	5158	6034	7709	10369	12648	14109	13565	10647	8288	7451	13159
Interest	62	198	185	218	82	89	346	76	134	102	127	188
Depreciation	1163	1890	2116	2515	2822	2604	2760	3021	3528	3034	2789	2826
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	2145	3070	3734	4976	7585	10127	11167	10624	7103	5321	4697	10146
Provision for Tax	512	622	902	1185	2088	2616	3286	2973	1425	932	818	2112
Profit After Tax	1634	2449	2832	3791	5497	7511	7881	7651	5678	4389	3880	8034
Adjustments	47	21	21	17	-1	-1	-1	-2	-2	0	0	178
Profit After Adjustments	1681	2469	2853	3807	5496	7510	7880	7649	5676	4389	3880	8212
Adjusted Earnings Per Share	58.2	81.8	94.5	126.1	182	248.7	260.9	253.3	187.9	145.3	128.5	271.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	26%	1%	5%	9%
Operating Profit CAGR	-10%	-18%	-10%	8%
PAT CAGR	-12%	-20%	-12%	9%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	22%	20%	1%	20%
ROE Average	7%	9%	13%	15%
ROCE Average	9%	11%	17%	20%

Maruti Suzuki Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	15675	19028	21496	24318	30616	37075	42559	47092	49413	52501	55334
Minority's Interest	0	11	12	13	14	15	16	18	19	0	0
Borrowings	170	705	627	278	0	0	10	8	5	3	0
Other Non-Current Liabilities	579	902	1045	886	1051	1633	2214	2691	2885	2659	2157
Total Current Liabilities	6676	6871	8295	8981	11044	13237	15449	14161	11305	16214	17024
Total Liabilities	23099	27517	31476	34477	42726	51961	60248	63969	63628	71376	74514
Fixed Assets	7746	10022	11034	12490	12530	13311	13389	15437	15744	14989	13747
Other Non-Current Assets	4112	6320	5498	13293	22245	29852	38930	36159	39443	38290	43974
Total Current Assets	11242	11175	14944	8695	7951	8798	7930	12373	8441	18097	16793
Total Assets	23099	27517	31476	34477	42726	51961	60248	63969	63628	71376	74514

Maruti Suzuki Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	119	203	165	89	28	43	23	73	186	21	41
Cash Flow from Operating Activities	2655	4059	4995	6449	8483	10282	11788	6601	3496	8856	1841
Cash Flow from Investing Activities	-3181	-3224	-4997	-4491	-7230	-9173	-8302	-3540	-557	-7291	-239
Cash Flow from Financing Activities	610	-979	-74	-2004	-1237	-1129	-3436	-2948	-3104	-1545	-1607
Net Cash Inflow / Outflow	84	-144	-76	-45	16	-21	50	113	-165	20	-6
Closing Cash & Cash Equivalent	203	165	89	43	43	23	73	186	21	41	35

Maruti Suzuki Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	58.17	81.76	94.47	126.07	181.99	248.67	260.93	253.28	187.95	145.33	128.46
CEPS(Rs)	96.76	143.65	163.83	208.8	275.46	334.93	352.33	353.36	304.83	245.8	220.81
DPS(Rs)	7.5	8	12	25	35	75	80	80	60	45	60
Book NAV/Share(Rs)	542.38	630.06	711.8	805.25	1013.77	1227.65	1409.25	1559.34	1636.19	1738.43	1832.24
Core EBITDA Margin(%)	6.3	8.67	10.63	12.21	13.65	13.4	14.1	12.19	9.11	7.25	6.23
EBIT Margin(%)	5.51	6.55	7.87	9.27	11.78	13.21	13.46	11.86	9.02	7.34	5.27
Pre Tax Margin(%)	5.36	6.15	7.5	8.88	11.65	13.1	13.06	11.77	8.85	7.2	5.13
PAT Margin (%)	4.08	4.91	5.69	6.76	8.44	9.71	9.21	8.48	7.08	5.94	4.24
Cash Profit Margin (%)	6.98	8.7	9.93	11.25	12.78	13.08	12.44	11.83	11.47	10.05	7.28
ROA(%)	7.74	9.68	9.6	11.49	14.24	15.87	14.05	12.32	8.9	6.5	5.32
ROE(%)	10.9	14.11	13.97	16.55	20.01	22.19	19.79	17.07	11.77	8.61	7.2
ROCE(%)	13.85	17.34	17.77	21.42	27.46	29.87	28.7	23.8	14.96	10.58	8.87
Receivable days	8.6	9.3	11.08	8.57	6.92	5.96	5.69	7.64	9.76	8.05	6.61
Inventory Days	14.93	13.63	13.38	14.68	16.48	15.1	13.71	13.11	14.87	15.47	13.12
Payable days	39.42	42.76	53.15	53.87	60.93	61.6	62.62	61.7	58.83	63.44	55.08
PER(x)	23.19	15.65	20.87	29.34	20.44	24.23	33.97	26.34	22.81	47.2	58.85
Price/Book(x)	2.49	2.03	2.77	4.59	3.67	4.91	6.29	4.28	2.62	3.95	4.13
Dividend Yield(%)	0.56	0.63	0.61	0.68	0.94	1.24	0.9	1.2	1.4	0.66	0.79
EV/Net Sales(x)	1.05	0.89	1.37	2.21	1.95	2.68	3.35	2.34	1.71	2.91	2.55
EV/Core EBITDA(x)	11.26	7.64	10.09	14.57	10.85	14.42	18.97	14.85	12.17	24.69	30.29
Net Sales Growth(%)	-2.87	22.76	0.54	14.05	13.36	18.23	17.22	7.84	-12.09	-6.99	25.52
EBIT Growth(%)	-30.26	48.08	19.9	32.55	47.61	33.26	12.69	-7.06	-32.36	-25.07	-11.05
PAT Growth(%)	-29.18	49.87	15.64	33.87	45.02	36.63	4.92	-2.92	-25.79	-22.69	-11.61
EPS Growth(%)	-29.43	40.55	15.54	33.46	44.35	36.64	4.93	-2.93	-25.8	-22.67	-11.61
Debt/Equity(x)	0.09	0.08	0.09	0.03	0.01	0.01	0	0	0	0.01	0.01
Current Ratio(x)	1.68	1.63	1.8	0.97	0.72	0.66	0.51	0.87	0.75	1.12	0.99
Quick Ratio(x)	1.44	1.36	1.6	0.67	0.44	0.42	0.31	0.64	0.46	0.93	0.78
Interest Cover(x)	35.83	16.52	21.24	23.85	93.84	114.28	33.29	140.97	53.93	53.27	38.1
Total Debt/Mcap(x)	0.04	0.04	0.03	0.01	0	0	0	0	0	0	0

Maruti Suzuki Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	56.37	56.37	56.37	56.37	56.37	56.37	56.37	56.37	56.37	56.48
FII	23.09	23.11	22.9	22.52	23.6	22.57	21.89	21.84	21.48	21.11
DII	15.66	15.07	15.76	15.98	15.29	16.26	18.01	18.1	18.26	18.63
Public	4.88	5.44	4.97	5.13	4.74	4.81	3.73	3.69	3.88	3.78
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	17.03	17.03	17.03	17.03	17.03	17.03	17.03	17.03	17.03	17.06
FII	6.97	6.98	6.92	6.8	7.13	6.82	6.61	6.6	6.49	6.38
DII	4.73	4.55	4.76	4.83	4.62	4.91	5.44	5.47	5.52	5.63
Public	1.47	1.64	1.5	1.55	1.43	1.45	1.13	1.11	1.17	1.14
Others	0	0	0	0	0	0	0	0	0	0
Total	30.21	30.21	30.21	30.21	30.21	30.21	30.21	30.21	30.21	30.21

Pros

Debtor days have improved from 63.44 to 55.08days.
Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of 9% over the last 3 years.
Stock is trading at 4.7 times its book value.
The company has delivered a poor profit growth of -12% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.