Buy Maruti Suzuki, target price Rs 13,875: Motilal Oswal Financial Services
buy call on Maruti Suzuki India Ltd. with a target price of Rs 13,875. The current market price of Maruti Suzuki India Ltd. is Rs 11,222.5. Maruti Suzuki, incorporated in 1981, is a Large Cap company with a market cap of Rs 352704.67 crore, operating in the Auto sector.
Maruti Suzuki India's key products/revenue segments include Passenger Cars & Light Duty Utility Vehicles, Spare Parts & Components, Other Operating Revenue, Service Income, Scrap, Rental Income for the year ending 31-Mar-2024.
Financials For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 38972.40 crore, up 5.79% from last quarter Total Income of Rs 36839.90 crore and up 2.82% from last year same quarter Total Income of Rs 37902.10 crore. The company has reported net profit after tax of Rs 3055.20 crore in the latest quarter.
Investment Rationale
According to Motilal Oswal Financial Services, the e-Vitara is a global product to be manufactured at SMG Gujarat and exported to Japan, Europe, etc. As per some news articles, 50% of its production would be earmarked for export markets, with production in the first year expected to be 140k units. Thus, it will evolve as a good volume driver for MSIL with huge export potential and a gradual ramp-up expected in the domestic market. The brokerage reiterates a BUY on MSIL with a revised target price of Rs 13,875 (premised on 26x Sep-26E EPS).
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