Maruti Suzuki
Shares of Maruti Suzuki India will remain in focus on January 25, a day after the company reported its December quarter earnings.
The country's largest carmaker on January 24, reported 129.55 percent jump in consolidated net profit for quarter ended December 2022 at Rs 2,391.5 crore as against Rs 1,041.8 crore in the same quarter last year.
The total revenue from operations came in at Rs 29,057.5 crore, up 24.96 percent from Rs 23,253.3 crore recorded in the corresponding quarter of the previous year, Maruti Suzuki said in a stock exchange filing.
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Here is what brokerages have to say about stock and the company post December quarter earnings
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The brokerage has maintained 'Buy' rating on the stock and remains sanguine on the stock with a rolled over FY25E target of Rs 10,298.
The company reported a strong margin performance in the quarter on better product mix, higher ASPs, lower input costs and higher utilization rates
With ability to combat competition coming from EV shift and better growth in rural markets which were severely impacted by covid Wave #2, company is poised for a healthy growth here-on
Broking house has kept ‘Sell’ rating on the stock and raised the target price to Rs 8,240 per share as the earnings beat the estimates led by richer product mix & easing costs.
The bookings remain strong aided by the new model cycle.
CLSA expect company to gain market share in SUV segment on back of recent launches and believes that overall share gains will be limited over the next 2 years, reported CNBC-TV18.
Research house has kept ‘Buy’ rating on the stock and raised the target price to Rs 13,100 per share.
The Q3 was ahead of estimates, better pricing & improving mix aided realisations & gross margin.
The management targets to gain leadership in SUV segment with 2 new models, Fronx & Jimny.
Broking house raises EBIT estimates by 10-12% & earnings estimates by 9-16% over FY23-25, reported CNBC-TV18.
Brokerage house has maintained ‘Overweight’ rating on the stock with a target at Rs 10,483 per share.
The Q3 EBIT margin was highest in 17 quarters & above the estimates.
Incrementally, expect improving mix, leverage gains & lower discount to drive earnings and expect company’s market share to rise to 43% in FY24 versus 41% in FY23 to date, reported CNBC-TV18.
Brokerage house has maintained ‘Neutral’ rating on the stock with a target price of Rs 9,928.
The stronger ASPs drive Q3 revenue beat, while EBITDA was margin in-line. The new SUV ramp key positive, while weaker mass segments remain a concern.
The outlook is healthy and company targets ahead of industry growth & leadership in SUVs.
The cost outlook is stable for Q4 and forecast margin to be stronger in Q4.
The rising A&P spends, stronger JPY & regulatory costs may impact margin, reported CNBC-TV18.
Research firm has maintained ‘Buy’ rating on the stock with a target at Rs 11,250 per share.
The Q3 EBITDA was 5% above estimates led by better realisations.
The company sounded positive on demand as company has 2.5 months of orderbook along with depleted channel inventories.
The demand, product & margin cycles align favourably driving a quadrupling of EPS over FY22-25, reported CNBC-TV18.
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