MarketFriction

Maruti Suzuki India Ltd

NSE MARUTI · BSE 532500 · Passenger Cars & Utility Vehicles
₹11,386.00 -4.86%
NSE close2026-10-01
52 week range11,831.00 - 17,370.00
Market cap₹3,73,416 Cr.
P/E26.0
Nifty 50Nifty 100Nifty 200Nifty 500Nifty AutoNifty MNCNifty India Consumption No price band Delivery 46.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales37,33933,51338,47135,77937,44938,76440,92038,60542,34449,90452,46252,470
Expenses32,02829,07333,25030,67332,45033,68836,07633,98337,25844,33146,30448,156
Operating Profit5,3124,4405,2215,1074,9995,0764,8444,6235,0865,5736,1584,313
OPM %14%13%14%14%13%13%12%12%12%11%12%8%
Other Income9581,0531,2611,1181,5701,1251,5831,9241,0141,1405811,972
Interest353676574346484757627364
Depreciation1,3421,3021,2981,3321,3861,4291,4621,5561,7031,7351,7481,780
Profit before tax4,8924,1565,1084,8365,1414,7264,9184,9444,3394,9174,9184,441
Tax %23%23%23%22%40%21%20%23%23%21%26%22%
Net Profit3,7863,2073,9523,7603,1023,7273,9113,7923,3493,8793,6593,447
EPS in Rs125.34102.00125.71119.5898.68118.54124.40120.62106.52123.38116.38109.63
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales57,58968,08579,80986,06875,66070,37288,330118,410141,858152,913183,316197,181
Expenses48,56557,66467,69275,01268,30564,96182,578105,288123,232132,689161,786176,050
Operating Profit9,02410,42112,11811,0567,3555,4115,75213,12218,62620,22421,53021,131
OPM %16%15%15%13%10%8%7%11%13%13%12%11%
Other Income1,4642,3992,1552,6643,4103,0461,8612,4154,2485,1994,5694,707
Interest828934676134102127252194194239255
Depreciation2,8222,6042,7603,0213,5283,0342,7894,8465,2565,6086,7426,966
Profit before tax7,58510,12711,16710,6247,1035,3214,69710,43817,42419,62019,11818,616
Tax %28%26%29%28%20%18%17%21%23%26%23%
Net Profit5,4977,5117,8817,6515,6784,3893,8808,26413,48814,50014,68014,334
EPS in Rs181.98248.61260.86253.21187.90145.30128.43273.56429.01461.20466.90455.91
Dividend Payout %19%30%31%32%32%31%47%34%29%29%30%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth12%21%16%27%
Compounded Profit Growth12%27%21%-1%
Stock Price CAGR8%11%4%-26%
Return on Equity13%14%16%14%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital151151151151151151151151157157157157
Reserves24,16730,46536,92442,40846,94149,26252,35055,18274,44385,47996,083106,999
Borrowings6662314841211601845414261,24811987102
Other Liabilities9,49211,87914,40217,56816,71714,03118,33518,89624,25829,55034,68941,622
Total Liabilities34,47742,72651,96060,24863,96963,62871,37674,656100,106115,304131,016148,880
Fixed Assets12,49012,53013,31113,38915,43715,74414,98913,74727,94127,86532,98334,523
CWIP1,8901,0071,2522,1321,6071,4151,4972,9364,1437,7357,9299,838
Investments13,29820,67629,15136,12337,50437,48842,94542,03549,18457,29666,26576,838
Other Assets6,8008,5138,2478,6049,4218,98011,94615,93718,83722,40823,83927,680
Total Assets34,47742,72651,96060,24863,96963,62871,37674,656100,106115,304131,016148,880
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity6,4498,48210,28211,7886,6013,4968,8561,84010,81516,80116,18019,100
Cash from Investing Activity-4,491-7,230-9,173-8,302-3,540-557-7,291-239-8,820-11,865-14,500-14,734
Cash from Financing Activity-2,004-1,237-1,129-3,436-2,948-3,104-1,545-1,607-1,214-4,062-4,155-4,484
Net Cash Flow-4516-2050113-16520-6780874-2,475-118
Free Cash Flow3,4086,0266,9077,9031,899966,528-1,4832,8587,6465,6018,754
CFO/OP109%115%121%122%88%67%182%52%100%110%99%109%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days886710107810121611
Inventory Days283025212022222023192331
Days Payable577065705951735458625761
Cash Conversion Cycle-20-32-33-42-29-20-44-26-25-31-18-19
Working Capital Days-26-27-36-40-30-20-50-30-30-26-24-29
ROCE %19%23%24%24%19%9%11%6%16%22%22%19%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters56.48%58.19%58.19%58.19%58.19%58.28%58.28%58.28%58.28%58.28%58.53%58.65%
FIIs21.85%20.60%19.64%18.98%17.68%15.47%14.96%15.20%15.78%15.76%14.12%12.82%
DIIs18.15%17.64%18.86%19.37%20.75%22.89%23.56%23.25%22.55%22.84%24.09%25.09%
Government0.06%0.06%0.06%0.07%0.07%0.07%0.08%0.08%0.08%0.08%0.08%0.08%
Public3.45%3.50%3.24%3.41%3.31%3.28%3.12%3.18%3.30%3.04%3.18%3.35%
No. of Shareholders3,68,6083,87,7673,64,3753,89,3143,82,5734,06,5703,78,8933,67,6083,69,2053,66,1534,00,8604,11,238

Fundamentals

Market Cap₹ 3,73,416 Cr.
Current Price₹ 11,877
Stock P/E26.0
Book Value₹ 3,408
ROCE18.9 %
ROE14.3 %
Dividend Yield1.18 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)27%
Compounded Profit Growth (TTM)-1%
Consolidated figures.
Valuation
Market capRs 357,979 Cr
Enterprise valueRs 356,501 Cr
P/E (TTM)24.97x
Price to book3.34x
Price to sales1.82x
EV / EBITDA13.80x
EV / EBIT18.89x
EV / sales1.81x
Price to cash flow18.74x
Earnings yield4.00%
Dividend yield1.23%
P/E, 3-year average26.90x
P/B, 3-year average4.00x
P/E, 5-year average33.98x
P/B, 5-year average3.90x
Profitability
Operating margin (excl. other income)11.74%
Operating margin (incl. other income)14.24%
EBITDA margin13.10%
Pre-tax margin9.44%
Net profit margin7.27%
Net margin, latest quarter6.57%
ROE14.43%
ROCE19.02%
ROA10.49%
ROE, 3-year average15.74%
ROCE, 3-year average20.86%
ROA, 3-year average11.60%
ROE, 5-year average13.43%
ROCE, 5-year average17.54%
ROA, 5-year average9.91%
ROIC (approx.)13.71%
Tax rate23.22%
Other income / net worth4.26%
Growth
Sales growth (latest year)19.88%
Profit growth (latest year)1.24%
Sales CAGR, 3 years15.68%
Sales CAGR, 5 years21.10%
Profit CAGR, 3 years21.11%
Profit CAGR, 5 years27.31%
Sales growth QoQ0.01%
Profit growth QoQ-5.80%
Sales growth YoY (latest quarter)35.91%
Profit growth YoY (latest quarter)-9.11%
Per share
EPS (TTM)Rs 455.91
EPS (latest year)Rs 466.90
EPS (latest quarter)Rs 109.63
EPS, 3-year averageRs 452.37
EPS, 5-year averageRs 351.82
Book value per shareRs 3,408.25
Sales per shareRs 6,271.60
Cash flow per shareRs 607.50
Free cash flow per shareRs 278.43
Dividend per share (latest year)Rs 140.00
Dividend per share, 3-year averageRs 133.33
Dividend per share, 5-year averageRs 110.73
Dividends
Dividend payout29.98%
Dividend payout, 3-year average29.46%
Dividend payout, 5-year average33.87%
Efficiency
Asset turnover1.23x
Fixed asset turnover5.31x
Inventory turnover12.00x
Inventory days30 days
Debtor days11 days
Debtors turnover34.32x
Creditor days61 days
Cash conversion cycle-19 days
Working capital days-29 days
Leverage
Total debtRs 102 Cr
Cash and bankRs 1,580 Cr
Net debtRs -1,478 Cr
Debt to equity0.00x
Net debt / EBITDA-0.06x
Interest coverage73.89x
Current ratio (filing 2026-03-31)1.07x
Quick ratio (filing 2026-03-31)0.76x
Trade payables (filing 2026-03-31)Rs 22,134 Cr
Owners' fund to total sources71.97%
Debt to assets0.07%
Cash flow
Cash from Operating Activity (latest year)Rs 19,100 Cr
Cash from Investing Activity (latest year)Rs -14,734 Cr
Cash from Financing Activity (latest year)Rs -4,484 Cr
Net Cash Flow (latest year)Rs -118 Cr
Free cash flow (latest year)Rs 8,754 Cr
FCFE (approx.: FCF + change in debt)Rs 8,770 Cr
Cash from ops / profit, 5 years1.18x
Sales to cash flow9.60x
Statement figures
Net sales (TTM)Rs 197,181 Cr
Net sales (latest year)Rs 183,316 Cr
Sales (latest quarter)Rs 52,470 Cr
Operating profit excl. other income (latest year)Rs 21,530 Cr
Operating profit (latest quarter)Rs 4,313 Cr
Other income (TTM)Rs 4,707 Cr
EBITDA (TTM)Rs 25,838 Cr
PBDT (TTM)Rs 25,582 Cr
Profit before tax (TTM)Rs 18,616 Cr
Tax (latest year)Rs 4,439 Cr
Net profit (TTM)Rs 14,334 Cr
Net profit (latest year)Rs 14,680 Cr
Net profit (latest quarter)Rs 3,447 Cr
Depreciation (TTM)Rs 6,966 Cr
Depreciation (latest quarter)Rs 1,780 Cr
Interest (TTM)Rs 255 Cr
Cost of goods sold (latest year)Rs 135,895 Cr
Total expenditure (latest year)Rs 161,786 Cr
Total income (latest year)Rs 187,885 Cr
Share capitalRs 157 Cr
ReservesRs 106,999 Cr
Shareholders' fundsRs 107,156 Cr
Total assetsRs 148,880 Cr
Net blockRs 34,523 Cr
Capital work in progressRs 9,838 Cr
InvestmentsRs 76,838 Cr
ReceivablesRs 5,342 Cr
InventoryRs 11,321 Cr
Other liabilitiesRs 41,622 Cr
Shares outstanding (crore)31.44
Ownership
Promoter holding58.65% (+0.37 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 25.0 is at the 4th percentile of its own 9.4-year range (median 35.2, low 17.6, high 77.2).
P/B 3.34 is at the 1th percentile (median 4.62).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMARUTINifty 50Difference
1 week-5.0%-2.8% -2.3 pts
1 month-12.1%-6.8% -5.3 pts
3 months-20.7%-7.6% -13.1 pts
6 months-7.5%+0.4% -7.9 pts
1 year-30.0%-9.9% -20.1 pts
2 years-10.2%-13.6% +3.3 pts
3 years+7.3%+14.2% -6.9 pts
5 years+59.0%+27.9% +31.1 pts
509 mutual fund schemes hold about ₹52,863 Cr. Over three months 380 bought more and 102 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Parag Parikh Flexi Cap Fund2.68%3,947 +19%
HDFC Flexi Cap Fund2.73%3,107 +16%
ICICI Pru Large Cap Fund2.93%2,351 +13%
ICICI Pru Value Fund3.41%2,050 +21%
HDFC Balanced Advantage Fund1.46%1,565 +22%
ICICI Pru Balanced Advantage Fund(M1.93%1,456 +10%
Kotak Multi Cap Fund4.57%1,338 +12%
ICICI Pru Multi Asset Allocation Fund1.49%1,306 +8%
ICICI Pru Flexi Cap Fund4.92%1,274 -9%
Kotak Flexi Cap Fund1.92%1,084 +20%
Kotak Flexi Cap Fund1.92%1,079 +20%
HDFC Focused Fund3.53%996 +17%
Mirae Asset Large Cap Fund2.52%974 +20%
HDFC ELSS-Tax Saver Fund4.66%745 +19%
Nippon India Large Cap Fund1.26%681 -20%
ICICI Pru Business Cycle Fund4.20%666 +23%
Mirae Asset Large & Midcap Fund1.35%620 +243%
ICICI Pru Aggressive Hybrid Fund(A1.11%585 -14%
ICICI Pru Large & Mid Cap Fund1.69%568 +12%
SBI Contra Fund1.12%533 +20%
UTI Flexi Cap Fund2.17%524 +14%
ICICI Pru ELSS-Tax Saver Fund3.52%503 +19%
Mirae Asset ELSS Tax Saver Fund1.83%483 +297%
UTI Nifty 50 Index Fund1.60%473 +20%
Franklin India Focused Equity Fund3.63%417 +20%

Red flags

F-score 5 of 8
lookRegulator order or action Regulator order or action 2026-09-30: Maruti Suzuki India Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2023-03-13SUZUKI MOTOR CORPORATIONPromotersbuy345,200Rs 295.82 CrMarket Purchase
2022-06-10SACHIN KUMAR GUPTAEmployees/Designated EmployebuyRs 0.08 Cr-
2022-03-17Arihant Kumar JainEmployees/Designated Employebuy134Rs 0.10 CrMarket Purchase
2021-01-07Bhaskar KanathiaEmployees/Designated Employebuy200Rs 0.15 CrMarket Purchase
2021-01-01SACHIN KUMAR GUPTAEmployees/Designated Employesell60Rs 0.05 CrMarket Sale
2021-01-01SACHIN KUMAR GUPTAEmployees/Designated Employebuy60Rs 0.05 CrMarket Purchase
2020-12-30SACHIN KUMAR GUPTAEmployees/Designated Employebuy80Rs 0.06 CrMarket Purchase
2020-12-30SACHIN KUMAR GUPTAEmployees/Designated Employesell80Rs 0.06 CrMarket Sale
2020-12-10SACHIN KUMAR GUPTAEmployees/Designated Employebuy210Rs 0.16 CrMarket Purchase
2020-12-10SACHIN KUMAR GUPTAEmployees/Designated Employesell210Rs 0.16 CrMarket Sale
2020-12-03SACHIN KUMAR GUPTAEmployees/Designated Employebuy514Rs 0.39 CrMarket Purchase
2020-12-03SACHIN KUMAR GUPTAEmployees/Designated Employesell514Rs 0.39 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹52,470 Cr +35.9% vs Jun 2025. Net profit ₹3,447 Cr -9.1%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-07Dividend - Rs 140 Per Share
2025-08-01Dividend - Rs 135 Per Share
2024-08-02Dividend - Rs 125 Per Share
2023-08-03Dividend - Rs 90 Per Share
2022-08-03Dividend - Rs 60 Per Share
2021-08-05 Dividend - Rs 45 Per Share
2020-08-13 Dividend - Rs 60 Per Share
2019-08-14 Dividend - Rs 80 Per Share
2018-08-14 Dividend Rs 80/- Per Share
2017-08-24 Dividend - Rs 75/- Per Share
2016-08-31 Final Dividend - Rs 35/- Per Share
2015-08-26Annual General Meeting / Dividend - Rs 25/- Per Share
2014-08-27Annual General Meeting / Dividend - Rs 12/- Per Share
2014-07-31E-Voting
2013-08-13Annual General Meeting / Final Dividend Rs.8/- Per Equity Share
2012-08-14Annual General Meeting/ Dividend Rs.7.50 Per Share
2011-08-24Dividend-Rs.7.50 Per Share
2010-08-24Annual General Meeting And Final Dividend Rs.6/- Per Share
2009-08-18Agm/Div-Rs.3.50 Per Share
2008-08-14Agm/Dividend - 100%
2007-08-22Agm/Fin Div-Rs4.50 Per Sh
2006-08-23Dividend-Rs.3.50/- Per Sh
DateTypeWhat it says
2026-10-01General UpdatesMaruti Suzuki Production Volume: September 2026
2026-10-01Press ReleaseA press release dated October 01, 2026, titled "Maruti Suzuki sales in September 2026".
2026-09-30Regulatory actionAction(s) taken or orders passed
2026-09-30Change in ManagementChange in Management
2026-09-28General UpdatesIntimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-09-25General UpdatesTechnology Strategy Briefing 2026
2026-09-24Press ReleaseA press release dated September 24, 2026, titled "Maruti Suzuki commissions its first green hydrogen plant at its Manesar facility in Haryana".
2026-09-21Concall / analyst meetSchedule of meet
2026-09-18Press ReleaseA press release dated September 18, 2026, titled "Maruti Suzuki Launches Auto Green Mission with the introduction of Automatic S-CNG Swift, Dzire and ...
2026-09-17Concall / analyst meetSchedule of meet
2026-09-12General UpdatesESG rating by Crisil ESG Ratings & Analytics Limited
2026-09-07General UpdatesAdvance intimation regarding price increase
2026-09-05CorrigendumCorrigendum to Press Release
2026-09-05Press ReleaseA press release dated September 05, 2026, titled " Dare to go Glam with the Stunning New Baleno: Designed for Dynamic Achievers".
2026-09-02Shareholder meetingVoting results.
2026-09-02Press ReleaseA press release dated September 02, 2026, titled "India s Partner in Progress: Maruti Suzuki Eeco crosses 15 lakh sales milestone".
2026-09-01General UpdatesMaruti Suzuki Production Volume: August 2026
2026-09-01Press ReleaseA press release dated September 01, 2026, titled "Maruti Suzuki sales in August 2026 ".
2026-08-31Shareholder meetingShareholders meeting
2026-08-08Press ReleaseA press release dated August 08, 2026, titled "Maruti Suzuki Annual Integrated Report 2025-26 The Next Million, New Momentum: Every Engine of Growth i...
2026-08-08General UpdatesIssuance of letter providing Web-link of the Annual Report for the financial year 2025-26
2026-08-08General UpdatesBusiness Responsibility and Sustainability Report (BRSR) for the financial year 2025-26
2026-08-08Shareholder meetingShareholders meeting
2026-08-06Concall / analyst meetTranscript
2026-08-05General UpdatesReference to the Consolidated financial results issued by Suzuki Motor Corporation in Japan
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.54
Max pain (expiry 2026-10-27)12,000
Largest call open interest at12,500
Largest put open interest at11,500
Implied volatility, at the money25.0%
Underlying at snapshot11,386.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-3093
2026-09-291,779
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2017-12-04CESTATMARUTI SUZUKI INDIA LIMITED ---VS.--- DESIGNATED AUTHORITY DIRECTORATE GENERAL OF ANTI-DUMPING AND ALLIED DUTIES
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Maruti Suzuki India Ltd?

Maruti Suzuki India Ltd (MARUTI) has a market capitalisation of Rs 3,73,416 Cr. at the 2026-10-01 close.

What is the P/E ratio of Maruti Suzuki India Ltd?

Maruti Suzuki India Ltd trades at a P/E of 26.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were Maruti Suzuki India Ltd's latest quarterly results?

In the Jun 2026 quarter, Maruti Suzuki India Ltd sales was Rs 52,470 Cr (+35.9% vs Jun 2025) and net profit was Rs 3,447 Cr.

What is the 52-week high and low of Maruti Suzuki India Ltd?

The 52-week high is Rs 17,370.00 and the 52-week low is Rs 11,831.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03