Maruti Suzuki, M&M, Happy Forgings Top Motilal Oswal’s Auto Picks Ahead of Q3 Preview — Details Inside

On the back of a healthy recovery in volumes, auto OEM companies under brokerage's coverage (ex-JLR) are expected to post a strong 24% revenue growth..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. .Motilal Oswal Report.Motilal Oswal expects aggregate auto demand across its coverage universe to grow 17% YoY in Q3 FY26, with healthy performance across all segments: Two-wheelers and passenger vehicles up 17% each, commercial vehicles up 22%, and tractors up 21%. Notably, demand has sustained even post-festive season, which is a key positive.On the back of strong volume recovery, auto OEMs (excluding Jaguar Land Rover) under coverage are projected to deliver 24% revenue growth, while Ebitda and PAT are expected to rise 27% YoY each. Auto ancillaries are likely to post ~14% revenue growth, with Ebitda/PAT growth of 17%/20% YoY.Within OEMs, all players (ex-JLR) are anticipated to report healthy double-digit earnings growth, ranging from Hero MotoCorp at 13% to TVS at 62%. Sustained demand has led to moderate earnings upgrades across the coverage universe..Top OEM picks: Maruti Suzuki, Mahindra & Mahindra, TVS Motor.Top ancillary picks: Endurance Technologies, Happy Forgings, and Samvardhana Motherson International..Click on the attachment to read the full report:.Devyani International Set For 30% Upside On Sapphire Merger Says Motilal Oswal — Check Rating, Target Price.DISCLAIMERThis 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.

Maruti Suzuki, M&M, Happy Forgings Top Motilal Oswal’s Auto Picks Ahead of Q3 Preview — Details Inside

Following the GST rationalization, demand has picked up across segments and seems to have remained intact even after the festive season.

NDTV Profit

NDTV Profit

Follow Us

DISCOVER US FASTER

DOWNLOAD THE APP