Company: Maruti Suzuki India Ltd. Category: Broker Research


Our channel checks suggest that demand in 2HCY18 was impacted by a confluence of factors like higher fuel prices, higher interest rates, insurance cost increase and the lack of major new product launches.
Feb. 4, 2019, 11:35 a.m.
Publisher: motilaloswal.com

Competitive intensity (as indicated by the Herfindahl-Hirschman Index (HHI)) has been declining for passenger vehicles (PV’s) in India. This is due to the fact that most global OEM’s continue to struggle in India due to lack of focus and research and development on the small car segment.
Jan. 9, 2019, 11:58 a.m.
Author : Way2wealth | Publisher: indianotes.com

We estimate revenue/EBIT/PAT CAGR (FY18-21) of ~12%/14%/16% for MSIL.
Nov. 13, 2018, 11:06 a.m.
Publisher: motilaloswal.com

The company was incorporated in 1981. This company is the largest passenger car manufacturing company in India. It accounts for approx 50% share in domestic passenger vehicle market in India.
Nov. 1, 2018, 11:41 a.m.
Author : Jainam Research | Publisher: indianotes.com


Maruti Suzuki India Ltd (MSIL) is the largest passenger vehicle (PV) manufacturer in India having market share of ~53% currently. Company has dominant position across all the major segments in PV industry.
July 23, 2018, 10:41 a.m.
Publisher: edelweiss.in

Historically, domestic PV demand has moderated only for a limited period of 3-6 months during the fuel price inflationary periods.
June 18, 2018, 11:11 a.m.
Publisher: motilaloswal.com

We see demand recovery from rural areas as model like Alto witnessed ~5.6% growth in FY18 following six years of de-growth (except FY15).
April 20, 2018, 11:49 a.m.

MSIL’s Feb-18 wholesales came in line at 149.8k units (+15% YoY, -1% MoM). YTDFY18 growth was at 13.2%, with a residual monthly run-rate of 164.7k units.
March 1, 2018, 12:46 p.m.

Maruti Suzuki India Ltd.: Volumes to grow a strong CAGR of 12% over FY17-20E
Feb. 9, 2018, 9:19 a.m.
Author : FundsIndia | Publisher: blog.fundsindia.com

MSIL continues to consistently gain market share (YTDFY18 has gained ~300bps, to 50.4%) and to say the least, has successfully seen off competition in the domestic market (driven out in some cases  ‐  General Motors). With its recent launches (namely, Brezza, Baleno and new Dzire), MSIL has significantly strengthened its product portfolio and we expect the company to fill the remaining minimal gaps in its portfolio over the next 12‐18 months.
Dec. 13, 2017, 3:30 p.m.

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