Maruti to grow 12-13% in FY16; like Tata Motors: LKP Sec

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26 Aug, 2025 12:21

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Maruti Suzuki’s November auto sales came in-line with expectations with a 9.7 percent growth year-on-year (YoY). The company sold 1,20,824 vehicles in the month of November. Ashwin Patil, research analyst at LKP Securities says that Maruti’s sales were aided by success of its recently launched Baleno. Compared to last year’s sales, when the festive season for spread over October-November, last month’s sales were not a complete wash-out, he says. LKP Securities maintains its buy rating on the stock, he says adding that 12-13 percent growth is expected for Maruti in FY16. December will not be great in terms of sales, but Q4 is expected to be much better, he adds. For M&M, sale of TUV300 in the medium and heavy commercial vehicle (MHCV) segment helped sales, Patil says. The company’s total sales grew 21 percent YoY. The 42 percent growth in its farm equipments was largely due to expectations of good Rabi season, he adds. Patil expects an 18-20 percent sales growth in MHCV segment for Ashok Leyland. The company reported a 16 percent growth in the month of November. Patil’s top picks in auto sector are Tata Motors, Ashok Leyland and Maruti.