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Emkay Global has buy call on Maruti Suzuki India with a target price of Rs 9850. The current market price of Maruti Suzuki India is Rs 8775. Time period given by analyst is one year when Maruti Suzuki India Ltd. price can reach defined target.
Maruti Suzuki India Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 266440.65 Crore) operating in Auto sector.
Maruti Suzuki India Ltd. key Products/Revenue Segments include Passenger Cars & Light Duty Utility Vehicles, Mould & Dies, Other Operating Revenue, Service Income, Scrap, Rental Income for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 23581.20 Crore, up 11.99 % from last quarter Total Income of Rs 21056.50 Crore and down -3.61 % from last year same quarter Total Income of Rs 24465.10 Crore. Company reported net profit after tax of Rs 1014.30 Crore in latest quarter.
Investment Rationale
The brokerage builds in a strong revenue/earnings CAGR of 23%/70% over FY22-24E. The positive view is underpinned by expectations of a cyclical upturn and market share recovery. Reaffirm Buy with a revised TP of Rs9,850 (earlier Rs8,750), based on 27x core P/E on Mar'24E EPS (earlier Dec'23E EPS), backed by a DCF model and net cash of Rs1,523/share.
Promoter/FII Holdings
Promoters held 56.37 per cent stake in the company as of 31-Dec-2021, while FIIs owned 23.6 per cent, DIIs 15.28 per cent.
Maruti Suzuki India Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 266440.65 Crore) operating in Auto sector.
Maruti Suzuki India Ltd. key Products/Revenue Segments include Passenger Cars & Light Duty Utility Vehicles, Mould & Dies, Other Operating Revenue, Service Income, Scrap, Rental Income for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 23581.20 Crore, up 11.99 % from last quarter Total Income of Rs 21056.50 Crore and down -3.61 % from last year same quarter Total Income of Rs 24465.10 Crore. Company reported net profit after tax of Rs 1014.30 Crore in latest quarter.
Investment Rationale
The brokerage builds in a strong revenue/earnings CAGR of 23%/70% over FY22-24E. The positive view is underpinned by expectations of a cyclical upturn and market share recovery. Reaffirm Buy with a revised TP of Rs9,850 (earlier Rs8,750), based on 27x core P/E on Mar'24E EPS (earlier Dec'23E EPS), backed by a DCF model and net cash of Rs1,523/share.
Promoter/FII Holdings
Promoters held 56.37 per cent stake in the company as of 31-Dec-2021, while FIIs owned 23.6 per cent, DIIs 15.28 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
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