Maruti Suzuki India’s (CMP: Rs 7,651; Mcap: Rs 2.31 lakh crore) December result was in line with Street expectations. The performance vectors continue to improve post the pandemic-related disruption. Though the quarter under review recorded double-digit volume and revenue growth on a year-on-year (YoY) basis, the benefit of operating leverage could not percolate down to operating margins because of an adverse product mix and a rise in raw material prices. The Maruti Suzuki stock has recovered considerably from its March 2020...
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