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Maruti Suzuki India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹10,726.09Overvalued by 14.25%vs CMP ₹12,509.00

P/E (26.3) × ROE (15.9%) × BV (₹3,172.00) × DY (1.08%)

₹7,895.07Overvalued by 36.88%vs CMP ₹12,509.00
MoS: -58.4% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹13,932.6023%Under (+11.4%)
Graham NumberEarnings₹5,821.9417%Over (-53.5%)
Earnings PowerEarnings₹3,383.4511%Over (-73%)
DCFCash Flow₹11,648.9711%Fair (-6.9%)
Net Asset ValueAssets₹3,172.497%Over (-74.6%)
EV/EBITDAEnterprise₹9,856.299%Over (-21.2%)
Earnings YieldEarnings₹4,749.207%Over (-62%)
ROCE CapitalReturns₹2,519.377%Over (-79.9%)
Revenue MultipleRevenue₹4,863.616%Over (-61.1%)
Consensus (9 models)₹7,895.07100%Overvalued
Key Drivers: EPS CAGR 29.9% lifts DCF — verify sustainability. | Wide model spread (₹2,519–₹13,933) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 29.9%

*Investments are subject to market risks

Analyst Summary

Maruti Suzuki India Ltd operates in the Auto - Cars & Jeeps segment, NSE: MARUTI | BSE: 532500, current market price is ₹12,509.00, market cap is 3,93,286 Cr.. At a glance, stock P/E is 26.3, ROE is 15.9 %, ROCE is 21.7 %, book value is 3,172, dividend yield is 1.08 %. The latest intrinsic value estimate is ₹7,895.07, around 36.9% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹152,913 Cr versus the prior period change of 7.8%, while latest net profit is about ₹14,500 Cr with a prior-period change of 7.5%. The 52-week range shown on this page is 17,372/11,059, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisMaruti Suzuki India Ltd. is a Public Limited Listed company incorporated on 24/02/1981 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L34…

This summary is generated from the stock page data available for Maruti Suzuki India Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

75
Maruti Suzuki India Ltd scores 75/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health83/100 · Strong
ROCE 21.7% ExcellentROE 15.9% GoodD/E 0.01 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding up 0.80% (6mo) Slight increaseDII holding down 0.72% MF sellingPromoter holding at 58.3% Stable
Earnings Quality65/100 · Strong
OPM expanding (8% → 13%) Improving
Quarterly Momentum68/100 · Strong
Revenue (4Q): +14% YoY GrowingProfit (4Q): +3% YoY Positive
Industry Rank100/100 · Strong
P/E 26.3 vs industry 49.1 Cheaper than peersROCE 21.7% vs industry 12.4% Above peersROE 15.9% vs industry 10.0% Above peers3Y sales CAGR: 20% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:19 am

Market Cap 3,93,286 Cr.
Current Price 12,509
Intrinsic Value₹7,895.07
High / Low 17,372/11,059
Stock P/E26.3
Book Value 3,172
Dividend Yield1.08 %
ROCE21.7 %
ROE15.9 %
Face Value 5.00
PEG Ratio0.88

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Maruti Suzuki India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Maruti Suzuki India Ltd 3,93,286 Cr. 12,509 17,372/11,05926.3 3,1721.08 %21.7 %15.9 % 5.00
Hindustan Motors Ltd 256 Cr. 12.2 35.8/10.171.8 1.730.00 %3.16 %4.02 % 5.00
Industry Average196,771.00 Cr6,260.6049.051,586.870.54%12.43%9.96%5.00

All Competitor Stocks of Maruti Suzuki India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 29,25132,21432,53537,33933,51338,47135,77937,44938,76440,92038,60542,34449,904
Expenses 25,87828,32029,01532,02829,07333,25030,67332,45033,68836,07633,98337,25844,331
Operating Profit 3,3733,8943,5205,3124,4405,2215,1074,9995,0764,8444,6235,0865,573
OPM % 12%12%11%14%13%14%14%13%13%12%12%12%11%
Other Income 8938501,1109581,0531,2611,1181,5701,1251,5831,9241,0141,140
Interest 301644635367657434648475762
Depreciation 1,2091,2401,3141,3421,3021,2981,3321,3861,4291,4621,5561,7031,735
Profit before tax 3,0273,3413,2694,8924,1565,1084,8365,1414,7264,9184,9444,3394,917
Tax % 21%20%22%23%23%23%22%40%21%20%23%23%21%
Net Profit 2,4062,6882,5433,7863,2073,9523,7603,1023,7273,9113,7923,3493,879
EPS in Rs 79.6588.9784.18125.34102.00125.71119.5898.68118.54124.40120.62106.52123.38

Last Updated: February 5, 2026, 1:40 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 12:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 44,54250,80157,58968,08579,80986,06875,66070,37288,330117,571141,858152,913171,774
Expenses 39,23243,90948,56557,66467,69275,01268,30564,96182,578106,542123,232132,689151,648
Operating Profit 5,3106,8929,02410,42112,11811,0567,3555,4115,75211,02918,62620,22420,126
OPM % 12%14%16%15%15%13%10%8%7%9%13%13%12%
Other Income 7248171,4642,3992,1552,6643,4103,0461,8612,3074,2485,1995,661
Interest 184218828934676134102127187194194213
Depreciation 2,1162,5152,8222,6042,7603,0213,5283,0342,7892,8265,2565,6086,455
Profit before tax 3,7344,9767,58510,12711,16710,6247,1035,3214,69710,32317,42419,62019,118
Tax % 24%24%28%26%29%28%20%18%17%20%23%26%
Net Profit 2,8543,8095,4977,5117,8817,6515,6784,3893,8808,21113,48814,50014,932
EPS in Rs 94.44126.04181.98248.61260.86253.21187.90145.30128.43271.82429.01461.20474.92
Dividend Payout % 13%20%19%30%31%32%32%31%47%33%29%29%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)33.46%44.32%36.64%4.93%-2.92%-25.79%-22.70%-11.60%111.62%64.27%7.50%
Change in YoY Net Profit Growth (%)0.00%10.85%-7.68%-31.71%-7.84%-22.87%3.09%11.10%123.22%-47.36%-56.76%

Maruti Suzuki India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:12%
5 Years:15%
3 Years:20%
TTM:7%
Compounded Profit Growth
10 Years:16%
5 Years:35%
3 Years:72%
TTM:-1%
Stock Price CAGR
10 Years:14%
5 Years:16%
3 Years:19%
1 Year:21%
Return on Equity
10 Years:13%
5 Years:13%
3 Years:15%
Last Year:16%

Last Updated: Unknown

Balance Sheet

Last Updated: December 4, 2025, 1:37 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 151151151151151151151151151151157157157
Reserves 21,34524,16730,46536,92442,40846,94149,26252,35055,18261,64085,47996,08399,587
Borrowings 2,0046662314841211601845414261,24711987100
Other Liabilities 7,9759,49211,87914,40217,56816,71714,03118,33518,89621,55829,55035,64438,609
Total Liabilities 31,47634,47742,72651,96060,24863,96963,62871,37674,65684,597115,304131,971138,453
Fixed Assets 11,03412,49012,53013,31113,38915,43715,74414,98913,74717,83027,86532,98335,499
CWIP 2,6401,8901,0071,2522,1321,6071,4151,4972,9362,9047,7357,9297,902
Investments 10,52713,29820,67629,15136,12337,50437,48842,94542,03549,18457,29666,26565,473
Other Assets 7,2756,8008,5138,2478,6049,4218,98011,94615,93714,67822,40824,79429,579
Total Assets 31,47634,47742,72651,96060,24863,96963,62871,37674,65684,597115,304131,971138,453

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 4,9956,4498,48210,28211,7886,6013,4968,8561,8409,25116,80116,136
Cash from Investing Activity + -4,997-4,491-7,230-9,173-8,302-3,540-557-7,291-239-8,036-11,865-14,456
Cash from Financing Activity + -74-2,004-1,237-1,129-3,436-2,948-3,104-1,545-1,607-1,213-4,062-4,155
Net Cash Flow -76-4516-2050113-16520-62874-2,475
Free Cash Flow 1,4593,4086,0266,9077,9031,899966,528-1,4833,0047,6465,533
CFO/OP 110%109%115%121%122%88%67%182%52%104%110%99%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow3.00-660.00-222.00-474.00-109.00-149.00-177.00-536.00-421.0010.00-101.00-67.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 128867101078101216
Inventory Days 202830252120222220231923
Days Payable 575770657059517354586270
Cash Conversion Cycle -25-20-32-33-42-29-20-44-26-25-31-31
Working Capital Days -28-26-27-36-40-30-20-50-30-30-26-24
ROCE %16%19%23%24%24%19%9%11%6%16%22%22%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 56.48%56.48%56.48%58.19%58.19%58.19%58.19%58.28%58.28%58.28%58.28%58.28%
FIIs 21.11%21.87%21.85%20.60%19.64%18.98%17.68%15.47%14.96%15.20%15.78%15.76%
DIIs 18.57%18.07%18.15%17.64%18.86%19.37%20.75%22.89%23.56%23.25%22.55%22.84%
Government 0.06%0.06%0.06%0.06%0.06%0.07%0.07%0.07%0.08%0.08%0.08%0.08%
Public 3.78%3.51%3.45%3.50%3.24%3.41%3.31%3.28%3.12%3.18%3.30%3.04%
No. of Shareholders 4,15,1273,78,3233,68,6083,87,7673,64,3753,89,3143,82,5734,06,5703,78,8933,67,6083,69,2053,66,153

Shareholding Pattern Chart

No. of Shareholders

Maruti Suzuki India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Parag Parikh Flexi Cap Fund 2,780,478 3.03 4059.222,746,6702026-02-23 01:29:101.23%
ICICI Prudential Large Cap Fund 2,025,668 3.86 2957.272,001,3122026-02-23 01:29:101.22%
HDFC Flexi Cap Fund 2,000,000 3 2919.8N/AN/AN/A
HDFC Balanced Advantage Fund 1,088,626 1.49 1589.29820,6262026-02-23 01:29:1032.66%
ICICI Prudential Multi Asset Fund 1,018,654 1.84 1487.13918,6542026-02-23 01:29:1010.89%
ICICI Prudential Flexicap Fund 960,045 7.12 1401.571,078,7422025-12-08 00:39:56-11%
ICICI Prudential Balanced Advantage Fund 934,477 1.94 1364.24851,4402026-01-26 01:11:469.75%
ICICI Prudential Value Fund 877,116 2.12 1280.5N/AN/AN/A
Kotak Multicap Fund 829,684 5.33 1211.26819,6842026-02-23 01:29:101.22%
Nippon India Large Cap Fund 800,250 2.33 1168.29N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) 461.20429.01271.82128.43145.30
Diluted EPS (Rs.) 461.20429.01271.82128.43145.30
Cash EPS (Rs.) 631.82588.10359.58215.45240.21
Book Value[Excl.RevalReserv]/Share (Rs.) 3061.072723.792046.071832.231738.43
Book Value[Incl.RevalReserv]/Share (Rs.) 3061.072723.792046.071832.231738.43
Revenue From Operations / Share (Rs.) 4863.654512.033893.092924.832330.20
PBDIT / Share (Rs.) 800.84719.46435.71246.72274.43
PBIT / Share (Rs.) 622.47552.29342.14154.37173.97
PBT / Share (Rs.) 616.29546.13335.95150.18170.60
Net Profit / Share (Rs.) 453.44420.93266.01123.10139.74
NP After MI And SOA / Share (Rs.) 461.20429.01271.89128.46145.33
PBDIT Margin (%) 16.4615.9411.198.4311.77
PBIT Margin (%) 12.7912.248.785.277.46
PBT Margin (%) 12.6712.108.625.137.32
Net Profit Margin (%) 9.329.326.834.205.99
NP After MI And SOA Margin (%) 9.489.506.984.396.23
Return on Networth / Equity (%) 15.0615.7513.287.018.36
Return on Capital Employeed (%) 19.2919.4216.028.089.52
Return On Assets (%) 10.9811.699.705.196.15
Total Debt / Equity (X) 0.000.000.010.010.01
Asset Turnover Ratio (%) 1.241.421.481.221.05
Current Ratio (X) 0.960.870.570.981.15
Quick Ratio (X) 0.730.660.360.770.96
Inventory Turnover Ratio (X) 25.0016.4411.9412.0710.63
Dividend Payout Ratio (NP) (%) 27.1020.1522.0735.0441.29
Dividend Payout Ratio (CP) (%) 19.5414.5016.4220.3824.41
Earning Retention Ratio (%) 72.9079.8577.9364.9658.71
Cash Earning Retention Ratio (%) 80.4685.5083.5879.6275.59
Interest Coverage Ratio (X) 129.65116.8470.3758.8581.41
Interest Coverage Ratio (Post Tax) (X) 74.4169.3643.9630.3642.45
Enterprise Value (Cr.) 361681.49393761.56251612.23225648.68204608.95
EV / Net Operating Revenue (X) 2.372.782.142.552.91
EV / EBITDA (X) 14.3617.4119.1230.2824.69
MarketCap / Net Operating Revenue (X) 2.372.802.132.582.94
Retention Ratios (%) 72.8979.8477.9264.9558.70
Price / BV (X) 3.764.634.054.133.95
Price / Net Operating Revenue (X) 2.372.802.132.582.94
EarningsYield 0.040.030.030.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Maruti Suzuki India Ltd. is a Public Limited Listed company incorporated on 24/02/1981 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L34103DL1981PLC011375 and registration number is 011375. Currently Company is involved in the business activities of Manufacture of motor vehicles. Company's Total Operating Revenue is Rs. 151900.10 Cr. and Equity Capital is Rs. 157.20 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto - Cars & Jeeps1, Nelson Mandela Road, New Delhi Delhi 110070Contact not found
Management
NamePosition Held
Mr. R C BhargavaChairman
Mr. Hisashi TakeuchiManaging Director & CEO
Mr. Maheswar SahuIndependent Director
Ms. Lira GoswamiIndependent Director
Ms. A BansalIndependent Director
Ms. I VittalIndependent Director
Mr. Kenichi AyukawaDirector
Mr. T SuzukiDirector
Mr. Kenichiro ToyofukuDirector
Mr. K YamaguchiDirector - Production
Mr. S KakkarDirector
Mr. K SuzukiDirector

FAQ

What is the intrinsic value of Maruti Suzuki India Ltd and is it undervalued?

As of 23 April 2026, Maruti Suzuki India Ltd's intrinsic value is ₹7895.07, which is 36.88% lower than the current market price of ₹12,509.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (15.9 %), book value (₹3,172), dividend yield (1.08 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Maruti Suzuki India Ltd?

Maruti Suzuki India Ltd is trading at ₹12,509.00 as of 23 April 2026, with a FY2026-2027 high of ₹17,372 and low of ₹11,059. The stock is currently near its 52-week low. Market cap stands at ₹3,93,286 Cr..

How does Maruti Suzuki India Ltd's P/E ratio compare to its industry?

Maruti Suzuki India Ltd has a P/E ratio of 26.3, which is below the industry average of 49.05. This is broadly in line with or below the industry average.

Is Maruti Suzuki India Ltd financially healthy?

Key indicators for Maruti Suzuki India Ltd: ROCE of 21.7 % indicates efficient capital utilization; ROE of 15.9 % shows strong shareholder returns. Dividend yield is 1.08 %.

Is Maruti Suzuki India Ltd profitable and how is the profit trend?

Maruti Suzuki India Ltd reported a net profit of ₹14,500 Cr in Mar 2025 on revenue of ₹152,913 Cr. Compared to ₹3,880 Cr in Mar 2022, the net profit shows an improving trend.

Does Maruti Suzuki India Ltd pay dividends?

Maruti Suzuki India Ltd has a dividend yield of 1.08 % at the current price of ₹12,509.00. The company pays dividends, though the yield is modest.

Last Updated: April 2, 2026, 3:19 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532500 | NSE: MARUTI
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Maruti Suzuki India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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