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Maruti Suzuki India: Bounceback makes it a long-term bet

As demand gathers pace and supply-side glitches smoothen, the car maker will be able to push the growth pedal hard

January 25, 2023 / 10:16 AM IST
Maruti Suzuki India: Bounceback makes it a long-term bet

Maruti’s leadership position in the segment and new products coupled with reasonable valuation make it an attractive bet for the long term.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights: Softening of raw material prices benefitted operating margin Preference for personal mobility to keep demand buoyant Impact of semiconductor chip shortage is waning Commodity-linked cost pressure expected to ease further Valuations reasonable; accumulate for the long term Maruti Suzuki India (CMP: Rs 8,699; M Cap: Rs 2.62 lakh crore), the leader in the passenger car segment, has reported a strong set of numbers in Q3 FY23 on the operational front, on the back of a significant reduction in raw material prices and rich product...

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