'Buy' Maruti Suzuki Maintains HDFC Securities, Says Launches, Exports To Drive The Structural Story

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

HDFC Securities Institutional Equities

Maruti Suzuki India Ltd. has lost market share over the last five-six years as it was late to capitalize on the SUV trend, which was further exacerbated by the company exiting the diesel segment. However, a change in strategy for the company is leading to structural tailwinds.

We expect the company to partially gain back market share on the back of its aggressive new model launch plan, benefit from a partial rebound of the small car market when it happens (we are optimistic of it partially rebounding from FY27), and benefit from any shift in powertrain trend to hybrids (like it is happening globally).

Additionally, we expect exports to increase meaningfully as the company becomes the global electric vehicle production hub for the parent. We value the company at 24x FY27 EPS for a target price of Rs 14,839 and maintain a Buy rating.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.