Maruti Suzuki India Ltd

Maruti Suzuki India Ltd

₹ 12,672 0.23%
16 Jul 12:24 p.m.
About

The Company was established in 1981. A joint venture agreement was signed between the Government of India and Suzuki Motor
Corporation (SMC), Japan in 1982. The Company became a subsidiary of SMC in 2002.It is the market leader in passenger vehicle segment in India. In terms of production volume and sales, the Company is now SMC’s largest subsidiary. SMC currently holds 56.28% of its equity stake.
The principal activities of the Company are manufacturing, purchase and sale of motor vehicles, components and spare parts.

Key Points

Market share of major car manufacturers (%)[1]
Maruti Suzuki - 42.0
Hyundai - 15
Tata - 13
Mahindra - 10
Kia - 7
Others: 13%

  • Market Cap 3,98,427 Cr.
  • Current Price 12,672
  • High / Low 13,300 / 9,254
  • Stock P/E 29.6
  • Book Value 2,724
  • Dividend Yield 0.96 %
  • ROCE 23.7 %
  • ROE 18.3 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 36.3%

Cons

  • Stock is trading at 4.60 times its book value
  • Company has a low return on equity of 12.4% over last 3 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
24,034 17,776 20,551 23,253 26,749 26,512 29,942 29,251 32,214 32,338 37,339 33,513 38,471
22,040 16,958 19,694 21,691 24,320 24,597 27,172 25,878 28,320 29,353 32,022 29,073 33,250
Operating Profit 1,995 819 857 1,562 2,429 1,915 2,771 3,373 3,894 2,985 5,318 4,440 5,221
OPM % 8% 5% 4% 7% 9% 7% 9% 12% 12% 9% 14% 13% 14%
163 544 532 355 514 112 662 893 850 1,041 952 1,053 1,261
Interest 33 22 23 25 56 28 31 30 164 46 35 36 76
Depreciation 742 744 757 641 648 652 723 1,209 1,240 748 1,342 1,302 1,298
Profit before tax 1,384 596 610 1,252 2,239 1,347 2,679 3,027 3,341 3,231 4,892 4,156 5,108
Tax % 10% 20% 20% 17% 16% 23% 21% 21% 20% 22% 23% 23% 23%
1,241 475 487 1,042 1,876 1,036 2,112 2,406 2,688 2,525 3,786 3,207 3,952
EPS in Rs 41.09 15.72 16.12 34.49 62.10 34.30 69.93 79.65 88.97 83.59 125.33 102.00 125.71
Raw PDF
Upcoming result date: 31 July 2024

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
44,304 44,542 50,801 57,589 68,085 79,809 86,068 75,660 70,372 88,330 117,571 141,858
39,944 39,232 43,909 48,565 57,664 67,692 75,012 68,305 64,961 82,578 106,542 123,332
Operating Profit 4,361 5,310 6,892 9,024 10,421 12,118 11,056 7,355 5,411 5,752 11,029 18,526
OPM % 10% 12% 14% 16% 15% 15% 13% 10% 8% 7% 9% 13%
797 724 817 1,464 2,399 2,155 2,664 3,410 3,046 1,861 2,307 4,348
Interest 198 184 218 82 89 346 76 134 102 127 187 194
Depreciation 1,890 2,116 2,515 2,822 2,604 2,760 3,021 3,528 3,034 2,789 2,826 5,256
Profit before tax 3,070 3,734 4,976 7,585 10,127 11,167 10,624 7,103 5,321 4,697 10,323 17,424
Tax % 20% 24% 24% 28% 26% 29% 28% 20% 18% 17% 20% 23%
2,470 2,854 3,809 5,497 7,511 7,881 7,651 5,678 4,389 3,880 8,211 13,488
EPS in Rs 81.74 94.44 126.04 181.98 248.61 260.86 253.21 187.90 145.30 128.43 271.82 429.01
Dividend Payout % 10% 13% 20% 19% 30% 31% 32% 32% 31% 47% 33% 29%
Compounded Sales Growth
10 Years: 12%
5 Years: 11%
3 Years: 26%
TTM: 21%
Compounded Profit Growth
10 Years: 18%
5 Years: 18%
3 Years: 45%
TTM: 100%
Stock Price CAGR
10 Years: 17%
5 Years: 17%
3 Years: 20%
1 Year: 30%
Return on Equity
10 Years: 13%
5 Years: 11%
3 Years: 12%
Last Year: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 151 151 151 151 151 151 151 151 151 151 151 157
Reserves 18,877 21,345 24,167 30,465 36,924 42,408 46,941 49,262 52,350 55,182 61,640 85,479
1,569 2,004 666 231 484 121 160 184 541 426 1,247 119
6,920 7,975 9,492 11,879 14,402 17,568 16,717 14,031 18,335 18,896 21,558 29,598
Total Liabilities 27,517 31,476 34,477 42,726 51,960 60,248 63,969 63,628 71,376 74,656 84,597 115,353
10,022 11,034 12,490 12,530 13,311 13,389 15,437 15,744 14,989 13,747 17,830 28,095
CWIP 1,966 2,640 1,890 1,007 1,252 2,132 1,607 1,415 1,497 2,936 2,904 7,504
Investments 7,421 10,527 13,298 20,676 29,151 36,123 37,504 37,488 42,945 42,035 49,184 57,296
8,107 7,275 6,800 8,513 8,247 8,604 9,421 8,980 11,946 15,937 14,678 22,457
Total Assets 27,517 31,476 34,477 42,726 51,960 60,248 63,969 63,628 71,376 74,656 84,597 115,353

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
4,059 4,995 6,449 8,482 10,282 11,788 6,601 3,496 8,856 1,840 9,251 16,801
-3,119 -4,997 -4,491 -7,230 -9,173 -8,302 -3,540 -557 -7,291 -239 -8,036 -11,865
-979 -74 -2,004 -1,237 -1,129 -3,436 -2,948 -3,104 -1,545 -1,607 -1,213 -4,062
Net Cash Flow -39 -76 -45 16 -20 50 113 -165 20 -6 2 874

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 13 12 8 8 6 7 10 10 7 8 10 12
Inventory Days 21 20 28 30 25 21 20 22 22 20 18 19
Days Payable 47 57 57 70 65 70 59 51 73 54 50 62
Cash Conversion Cycle -14 -25 -20 -32 -33 -42 -29 -20 -44 -26 -22 -31
Working Capital Days -7 -18 -26 -27 -33 -40 -29 -19 -47 -29 -23 -16
ROCE % 15% 16% 19% 23% 24% 24% 19% 9% 11% 6% 14% 24%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
56.37% 56.37% 56.37% 56.37% 56.37% 56.37% 56.37% 56.48% 56.48% 56.48% 58.19% 58.19%
22.90% 22.52% 23.60% 22.57% 21.89% 21.84% 21.49% 21.11% 21.87% 21.85% 20.60% 19.64%
15.76% 15.98% 15.29% 16.25% 18.01% 18.10% 18.19% 18.57% 18.07% 18.15% 17.64% 18.86%
0.00% 0.00% 0.00% 0.00% 0.00% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06%
4.97% 5.13% 4.74% 4.81% 3.73% 3.62% 3.89% 3.78% 3.51% 3.45% 3.50% 3.24%
No. of Shareholders 4,42,4824,63,7184,21,9124,31,8893,95,4413,92,5514,18,2884,15,1273,78,3233,68,6083,87,7673,64,375

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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