Maruti Suzuki India Ltd (MARUTI) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+1.99%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 12.8%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 14.3%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹12,723.53

200-Day DMA ● Overlay

₹11,800.58

14-Day RSI ● Overlay

59 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹3.56 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

24.8x

Price / EPS

Book Value (₹) Assets

₹3,408.0

P/B: 3.3x

ROE (%) Quality

14.3%

Net Profit / Equity

ROCE (%) Efficiency

18.9%

EBIT / Capital

Dividend Yield Yield

1.22%

Face Value: ₹10

Debt / Equity Solvency

0.00x

Low Debt

EPS (TTM) Per Share

₹456.53

Trailing 12M

OPM (%) Spread

11.0%

EBITDA Margin

Free Cash Flow Cash

₹8,754 Cr

CFO - Capex

About Maruti Suzuki India Ltd

Maruti Suzuki is India largest automobile manufacturer with over 40% passenger vehicle market share.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 7.9% × Turnover: 0.85x × Leverage: 1x = ROE: 14.3%

✓ Company Strengths (Pros)

• Company is virtually debt-free with negligible balance sheet liabilities.
• Delivers solid shareholder returns with an ROE of 14.3%.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹1.97 Lakh Cr

Latest PAT

₹14,334 Cr

EPS (TTM)

₹456.53

OPM %

11.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹32,535 Cr	₹37,339 Cr	₹33,513 Cr	₹38,471 Cr	₹35,779 Cr	₹37,449 Cr	₹38,764 Cr	₹40,920 Cr	₹38,605 Cr	₹42,344 Cr	₹49,904 Cr	₹52,462 Cr	₹52,470 Cr
Operating Profit (EBITDA)	₹3,520 Cr	₹5,312 Cr	₹4,440 Cr	₹5,221 Cr	₹5,107 Cr	₹4,999 Cr	₹5,076 Cr	₹4,844 Cr	₹4,623 Cr	₹5,086 Cr	₹5,573 Cr	₹6,158 Cr	₹4,313 Cr
OPM %	11.0%	14.0%	13.0%	14.0%	14.0%	13.0%	13.0%	12.0%	12.0%	12.0%	11.0%	12.0%	8.0%
Interest Expense	₹46.00 Cr	₹35.00 Cr	₹36.00 Cr	₹76.00 Cr	₹57.00 Cr	₹43.00 Cr	₹46.00 Cr	₹48.00 Cr	₹47.00 Cr	₹57.00 Cr	₹62.00 Cr	₹73.00 Cr	₹64.00 Cr
Depreciation	₹1,314 Cr	₹1,342 Cr	₹1,302 Cr	₹1,298 Cr	₹1,332 Cr	₹1,386 Cr	₹1,429 Cr	₹1,462 Cr	₹1,556 Cr	₹1,703 Cr	₹1,735 Cr	₹1,748 Cr	₹1,780 Cr
Profit before Tax (PBT)	₹3,269 Cr	₹4,892 Cr	₹4,156 Cr	₹5,108 Cr	₹4,836 Cr	₹5,141 Cr	₹4,726 Cr	₹4,918 Cr	₹4,944 Cr	₹4,339 Cr	₹4,917 Cr	₹4,918 Cr	₹4,441 Cr
Net Profit (PAT)	₹2,543 Cr	₹3,786 Cr	₹3,207 Cr	₹3,952 Cr	₹3,760 Cr	₹3,102 Cr	₹3,727 Cr	₹3,911 Cr	₹3,792 Cr	₹3,349 Cr	₹3,879 Cr	₹3,659 Cr	₹3,447 Cr
EPS in ₹	₹84.18	₹125.34	₹102.00	₹125.71	₹119.58	₹98.68	₹118.54	₹124.40	₹120.62	₹106.52	₹123.38	₹116.38	₹109.63

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹50,801 Cr	₹57,589 Cr	₹68,085 Cr	₹79,809 Cr	₹86,068 Cr	₹75,660 Cr	₹70,372 Cr	₹88,330 Cr	₹1.18 Lakh Cr	₹1.42 Lakh Cr	₹1.53 Lakh Cr	₹1.83 Lakh Cr	₹1.97 Lakh Cr
Expenses	₹43,909 Cr	₹48,565 Cr	₹57,664 Cr	₹67,692 Cr	₹75,012 Cr	₹68,305 Cr	₹64,961 Cr	₹82,578 Cr	₹1.05 Lakh Cr	₹1.23 Lakh Cr	₹1.33 Lakh Cr	₹1.62 Lakh Cr	₹1.76 Lakh Cr
Operating Profit	₹6,892 Cr	₹9,024 Cr	₹10,421 Cr	₹12,118 Cr	₹11,056 Cr	₹7,355 Cr	₹5,411 Cr	₹5,752 Cr	₹13,122 Cr	₹18,626 Cr	₹20,224 Cr	₹21,530 Cr	₹21,131 Cr
OPM %	14%	16%	15%	15%	13%	10%	8%	7%	11%	13%	13%	12%	11%
Interest	₹218.00 Cr	₹82.00 Cr	₹89.00 Cr	₹346.00 Cr	₹76.00 Cr	₹134.00 Cr	₹102.00 Cr	₹127.00 Cr	₹252.00 Cr	₹194.00 Cr	₹194.00 Cr	₹239.00 Cr	₹255.00 Cr
Depreciation	₹2,515 Cr	₹2,822 Cr	₹2,604 Cr	₹2,760 Cr	₹3,021 Cr	₹3,528 Cr	₹3,034 Cr	₹2,789 Cr	₹4,846 Cr	₹5,256 Cr	₹5,608 Cr	₹6,742 Cr	₹6,966 Cr
Profit before Tax	₹4,976 Cr	₹7,585 Cr	₹10,127 Cr	₹11,167 Cr	₹10,624 Cr	₹7,103 Cr	₹5,321 Cr	₹4,697 Cr	₹10,438 Cr	₹17,424 Cr	₹19,620 Cr	₹19,118 Cr	₹18,616 Cr
Net Profit	₹3,809 Cr	₹5,497 Cr	₹7,511 Cr	₹7,881 Cr	₹7,651 Cr	₹5,678 Cr	₹4,389 Cr	₹3,880 Cr	₹8,264 Cr	₹13,488 Cr	₹14,500 Cr	₹14,680 Cr	₹14,334 Cr
EPS in Rs	126.04	181.98	248.61	260.86	253.21	187.90	145.30	128.43	273.56	429.01	461.20	466.90	455.91

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹151.00 Cr	₹151.00 Cr	₹151.00 Cr	₹151.00 Cr	₹151.00 Cr	₹151.00 Cr	₹151.00 Cr	₹151.00 Cr	₹157.00 Cr	₹157.00 Cr	₹157.00 Cr	₹157.00 Cr
Reserves & Surplus	₹24,167 Cr	₹30,465 Cr	₹36,924 Cr	₹42,408 Cr	₹46,941 Cr	₹49,262 Cr	₹52,350 Cr	₹55,182 Cr	₹74,443 Cr	₹85,479 Cr	₹96,083 Cr	₹1.07 Lakh Cr
Borrowings (Debt)	₹666.00 Cr	₹231.00 Cr	₹484.00 Cr	₹121.00 Cr	₹160.00 Cr	₹184.00 Cr	₹541.00 Cr	₹426.00 Cr	₹1,248 Cr	₹119.00 Cr	₹87.00 Cr	₹102.00 Cr
Total Liabilities	₹34,477 Cr	₹42,726 Cr	₹51,960 Cr	₹60,248 Cr	₹63,969 Cr	₹63,628 Cr	₹71,376 Cr	₹74,656 Cr	₹1.00 Lakh Cr	₹1.15 Lakh Cr	₹1.31 Lakh Cr	₹1.49 Lakh Cr
Fixed Assets	₹12,490 Cr	₹12,530 Cr	₹13,311 Cr	₹13,389 Cr	₹15,437 Cr	₹15,744 Cr	₹14,989 Cr	₹13,747 Cr	₹27,941 Cr	₹27,865 Cr	₹32,983 Cr	₹34,523 Cr
Total Assets	₹34,477 Cr	₹42,726 Cr	₹51,960 Cr	₹60,248 Cr	₹63,969 Cr	₹63,628 Cr	₹71,376 Cr	₹74,656 Cr	₹1.00 Lakh Cr	₹1.15 Lakh Cr	₹1.31 Lakh Cr	₹1.49 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹6,449 Cr	₹8,482 Cr	₹10,282 Cr	₹11,788 Cr	₹6,601 Cr	₹3,496 Cr	₹8,856 Cr	₹1,840 Cr	₹10,815 Cr	₹16,801 Cr	₹16,180 Cr	₹19,100 Cr
Cash from Investing (CFI)	-₹4,491 Cr	-₹7,230 Cr	-₹9,173 Cr	-₹8,302 Cr	-₹3,540 Cr	-₹557.00 Cr	-₹7,291 Cr	-₹239.00 Cr	-₹8,820 Cr	-₹11,865 Cr	-₹14,500 Cr	-₹14,734 Cr
Cash from Financing (CFF)	-₹2,004 Cr	-₹1,237 Cr	-₹1,129 Cr	-₹3,436 Cr	-₹2,948 Cr	-₹3,104 Cr	-₹1,545 Cr	-₹1,607 Cr	-₹1,214 Cr	-₹4,062 Cr	-₹4,155 Cr	-₹4,484 Cr
Free Cash Flow (FCF)	₹3,408 Cr	₹6,026 Cr	₹6,907 Cr	₹7,903 Cr	₹1,899 Cr	₹96.00 Cr	₹6,528 Cr	-₹1,483 Cr	₹2,858 Cr	₹7,646 Cr	₹5,601 Cr	₹8,754 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	8	8	6	7	10	10	7	8	10	12	16	11
Inventory Days	28	30	25	21	20	22	22	20	23	19	23	31
Cash Conversion Cycle (Days)	-20	-32	-33	-42	-29	-20	-44	-26	-25	-31	-18	-19
ROCE %	19%	23%	24%	24%	19%	9%	11%	6%	16%	22%	22%	19%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹6,972.46 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹13,185.00

DCF Fair Value

₹6,972.46

Graham Number

₹5,916.65

Margin of Safety

-50.7%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹6,972.46

Premium / Overvalued (Margin: -50.7%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹6,785	₹6,723	₹6,663	₹6,603
10%	₹6,911	₹6,848	₹6,786	₹6,726
12%	₹7,036	₹6,972	₹6,910	₹6,848
14%	₹7,162	₹7,097	₹7,033	₹6,970

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹6,972	Fairly Valued
Benjamin Graham Number	₹5,917	Market Priced
Historical Sector P/E	₹10,044	Premium
EV / EBITDA Multiplier	₹13,844	In-Line
Free Cash Flow Yield Model	₹12,921	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 6/9 (Stable Financials)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

6 / 9 Pass

Altman Z-Score

4.9 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.00x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 11.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

58.65%

FIIs (Foreign)

12.82%

DIIs (Domestic)

25.09%

Government

0.15%

Public / Retail

3.35%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	56.48%	58.19%	58.19%	58.19%	58.19%	58.28%	58.28%	58.28%	58.28%	58.28%	58.53%	58.65%
+ FIIs (Foreign Portfolio)	21.85%	20.60%	19.64%	18.98%	17.68%	15.47%	14.96%	15.20%	15.78%	15.76%	14.12%	12.82%
+ DIIs (Mutual Funds / Insurance)	18.15%	17.64%	18.86%	19.37%	20.75%	22.89%	23.56%	23.25%	22.55%	22.84%	24.09%	25.09%
+ Public (Retail & HNIs)	3.45%	3.50%	3.24%	3.41%	3.31%	3.28%	3.12%	3.18%	3.30%	3.04%	3.18%	3.35%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Automobile.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

MARUTI Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

MARUTI Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

MARUTI Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹16,876.80

Accelerated market share capture in Automobile, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹14,767.20

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 25x P/E.

🐻 Bear Case (15%) -12.0%

₹11,602.80

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Automobile)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:38 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Maruti Suzuki India Ltd (MARUTI)	Target Stock	₹13,185.00	+1.99%	24.8x	14.3%	18.9%	0.00	₹3.56 Lakh Cr
Mahindra & Mahindra Ltd (M&M)	SUVs, Tractors & Commercial	₹3,465.00	+5.30%	18.6x	20.3%	15.1%	1.47	₹3.56 Lakh Cr
Tata Motors Ltd (TATAMOTORS)	Commercial & Electric Vehicles (JLR)	₹418.10	-0.84%	10.8x	48.5%	21.5%	1.45	₹3.55 Lakh Cr
Bajaj Auto Ltd (BAJAJ-AUTO)	Two & Three Wheelers	₹11,040.00	+0.56%	23.4x	29.2%	28.2%	0.58	₹2.75 Lakh Cr
TVS Motor Company Ltd (TVSMOTOR)	Two Wheelers & EV Scooters	₹4,560.00	+1.20%	54.2x	33.6%	17.4%	3.43	₹1.91 Lakh Cr
Eicher Motors Ltd (EICHERMOT)	Royal Enfield & Commercial Trucks	₹7,592.00	-0.48%	31.7x	24.0%	30.5%	0.02	₹1.90 Lakh Cr
Samvardhana Motherson Intl (MOTHERSON)	Sector Peer	₹169.69	+4.81%	36.2x	11.2%	13.4%	0.47	₹1.65 Lakh Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:38:12 IST	✓ Live Sync
Financial Statements (10Y)	Maruti Suzuki India Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Maruti Suzuki India Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Maruti Suzuki India Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Automobile)

Metric Explainer

Stock DNA Methodology

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