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Maruti: Valuation remains high amid weak numbers

Being a market leader with its huge network, Maruti Suzuki is well poised to garner a bulk of the increased demand

July 30, 2020 / 10:32 AM IST
Maruti: Valuation remains high amid weak numbers

Maruti Suzuki Dzire | 17,675 | The Maruti Suzuki Dzire takes the top spot in sedans with a sales of 17,675 units and while this is a growth of 26 percent from September, the numbers have decline by 10 percent from October last year.

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

The countrywide disruption in commercial activities following the outbreak of the coronavirus has badly dented the numbers of Maruti Suzuki India Ltd (Rs CMP: 6,192; Mcap: Rs 187,000 crore) in the first quarter of FY21. Volumes and net sales declined sharply, following the lockdown in April and May, while a negative operating leverage pushed the operating margin into the negative territory. The Maruti Suzuki stock has recovered quite a bit from its March lows but the valuation looks expensive. So investors...

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