Maruti Suzuki India Ltd
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.
- Market Cap ₹ 2,86,533 Cr.
- Current Price ₹ 9,485
- High / Low ₹ 9,769 / 7,555
- Stock P/E 34.9
- Book Value ₹ 2,046
- Dividend Yield 0.95 %
- ROCE 17.7 %
- ROE 14.0 %
- Face Value ₹ 5.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 36.9%
Cons
- Stock is trading at 4.64 times its book value
- Company has a low return on equity of 10.1% 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.
Peer comparison
Sector: Automobile Industry: Automobiles - Passenger Cars
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
36,090 | 44,304 | 44,542 | 50,801 | 57,589 | 68,085 | 79,809 | 86,068 | 75,660 | 70,372 | 88,330 | 117,571 | |
33,807 | 39,944 | 39,232 | 43,909 | 48,565 | 57,664 | 67,692 | 75,012 | 68,305 | 64,961 | 82,578 | 106,554 | |
Operating Profit | 2,283 | 4,361 | 5,310 | 6,892 | 9,024 | 10,421 | 12,118 | 11,056 | 7,355 | 5,411 | 5,752 | 11,018 |
OPM % | 6% | 10% | 12% | 14% | 16% | 15% | 15% | 13% | 10% | 8% | 7% | 9% |
1,086 | 797 | 724 | 817 | 1,464 | 2,399 | 2,155 | 2,664 | 3,410 | 3,046 | 1,861 | 2,318 | |
Interest | 62 | 198 | 184 | 218 | 82 | 89 | 346 | 76 | 134 | 102 | 127 | 187 |
Depreciation | 1,162 | 1,890 | 2,116 | 2,515 | 2,822 | 2,604 | 2,760 | 3,021 | 3,528 | 3,034 | 2,789 | 2,826 |
Profit before tax | 2,145 | 3,070 | 3,734 | 4,976 | 7,585 | 10,127 | 11,167 | 10,624 | 7,103 | 5,321 | 4,697 | 10,323 |
Tax % | 24% | 20% | 24% | 24% | 28% | 26% | 29% | 28% | 20% | 18% | 17% | 20% |
Net Profit | 1,681 | 2,470 | 2,854 | 3,809 | 5,497 | 7,511 | 7,881 | 7,651 | 5,678 | 4,389 | 3,880 | 8,211 |
EPS in Rs | 58.19 | 81.74 | 94.44 | 126.04 | 181.98 | 248.61 | 260.86 | 253.21 | 187.90 | 145.30 | 128.43 | 271.82 |
Dividend Payout % | 13% | 10% | 13% | 20% | 19% | 30% | 31% | 32% | 32% | 31% | 47% | 33% |
Compounded Sales Growth | |
---|---|
10 Years: | 10% |
5 Years: | 8% |
3 Years: | 16% |
TTM: | 33% |
Compounded Profit Growth | |
---|---|
10 Years: | 14% |
5 Years: | 5% |
3 Years: | 36% |
TTM: | 110% |
Stock Price CAGR | |
---|---|
10 Years: | 20% |
5 Years: | 1% |
3 Years: | 19% |
1 Year: | 20% |
Return on Equity | |
---|---|
10 Years: | 12% |
5 Years: | 10% |
3 Years: | 10% |
Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
144 | 151 | 151 | 151 | 151 | 151 | 151 | 151 | 151 | 151 | 151 | 151 | |
Reserves | 15,530 | 18,877 | 21,345 | 24,167 | 30,465 | 36,924 | 42,408 | 46,941 | 49,262 | 52,350 | 55,182 | 61,640 |
1,421 | 1,569 | 2,004 | 666 | 231 | 484 | 121 | 160 | 184 | 541 | 426 | 1,247 | |
6,004 | 6,920 | 7,975 | 9,492 | 11,879 | 14,402 | 17,568 | 16,717 | 14,031 | 18,335 | 18,896 | 21,558 | |
Total Liabilities | 23,099 | 27,517 | 31,476 | 34,477 | 42,726 | 51,960 | 60,248 | 63,969 | 63,628 | 71,376 | 74,656 | 84,597 |
7,746 | 10,022 | 11,034 | 12,490 | 12,530 | 13,311 | 13,389 | 15,437 | 15,744 | 14,989 | 13,747 | 17,919 | |
CWIP | 943 | 1,966 | 2,640 | 1,890 | 1,007 | 1,252 | 2,132 | 1,607 | 1,415 | 1,497 | 2,936 | 2,815 |
Investments | 6,545 | 7,421 | 10,527 | 13,298 | 20,676 | 29,151 | 36,123 | 37,504 | 37,488 | 42,945 | 42,035 | 49,184 |
7,866 | 8,107 | 7,275 | 6,800 | 8,513 | 8,247 | 8,604 | 9,421 | 8,980 | 11,946 | 15,937 | 14,678 | |
Total Assets | 23,099 | 27,517 | 31,476 | 34,477 | 42,726 | 51,960 | 60,248 | 63,969 | 63,628 | 71,376 | 74,656 | 84,597 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2,655 | 4,059 | 4,995 | 6,449 | 8,482 | 10,282 | 11,788 | 6,601 | 3,496 | 8,856 | 1,840 | 9,251 | |
-3,181 | -3,119 | -4,997 | -4,491 | -7,230 | -9,173 | -8,302 | -3,540 | -557 | -7,291 | -239 | -8,036 | |
610 | -979 | -74 | -2,004 | -1,237 | -1,129 | -3,436 | -2,948 | -3,104 | -1,545 | -1,607 | -1,213 | |
Net Cash Flow | 84 | -39 | -76 | -45 | 16 | -20 | 50 | 113 | -165 | 20 | -6 | 2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 10 | 13 | 12 | 8 | 8 | 6 | 7 | 10 | 10 | 7 | 8 | 10 |
Inventory Days | 24 | 21 | 20 | 28 | 30 | 25 | 21 | 20 | 22 | 22 | 20 | 18 |
Days Payable | 44 | 47 | 57 | 57 | 70 | 65 | 70 | 59 | 51 | 73 | 54 | 50 |
Cash Conversion Cycle | -11 | -14 | -25 | -20 | -32 | -33 | -42 | -29 | -20 | -44 | -26 | -22 |
Working Capital Days | -16 | -7 | -18 | -26 | -27 | -33 | -40 | -29 | -19 | -47 | -29 | -23 |
ROCE % | 12% | 15% | 16% | 19% | 23% | 24% | 24% | 19% | 9% | 11% | 9% | 18% |
Documents
Announcements
- Maruti Suzuki Production Volume: May 2023 1d
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Maruti Suzuki sales in May 2023
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 29 May
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
28 May - Secretarial Compliance Report for the financial year ended on 31 March, 2023
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 May
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
from nse
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
from nse
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Financial Year 2010
from bse
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Financial Year 2010
from nse
Concalls
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May 2023Transcript PPT
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Feb 2023TranscriptNotesPPT
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Nov 2022TranscriptNotesPPT
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Jan 2022TranscriptPPT
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Jul 2021TranscriptPPT
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Mar 2021Transcript PPT
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Jan 2021TranscriptPPT
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Oct 2020TranscriptPPT
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Jul 2020TranscriptPPT
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May 2020TranscriptPPT
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Oct 2019TranscriptPPT
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Jul 2019TranscriptPPT
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Apr 2019TranscriptPPT
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Jan 2019TranscriptPPT
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Oct 2018TranscriptPPT
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Jul 2018Transcript PPT
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Jan 2018TranscriptPPT
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Jul 2017TranscriptPPT
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Apr 2017TranscriptPPT
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Jan 2017TranscriptPPT
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Jul 2016TranscriptPPT
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Apr 2016TranscriptPPT
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Jan 2016TranscriptPPT
Market share of major car manufacturers (%)[1]
Maruti Suzuki - 47.4
Hyundai - 17
Tata - 7.5
Kia - 7.3
Mahindra - 6.4
Renault - 3.6
Honda - 3.5
Toyota - 3.0