Prabhudas Lilladher Advises Buying Maruti Suzuki India with a Target Price of Rs 11,500

October 11, 2023

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Prabhudas Lilladher, a reputable financial firm, has issued a buy recommendation for Maruti Suzuki India Ltd., setting a target price of Rs 11,500. Currently, Maruti Suzuki India Ltd. is trading at a market price of Rs 10,395.

Maruti Suzuki India Ltd., established in the year 1981, is a prominent player in the Auto sector. It operates as a Large Cap company with a substantial market capitalization of Rs 313,166.40 Crore.

The key Products/Revenue Segments for Maruti Suzuki India Ltd. encompass Passenger Cars & Light Duty Utility Vehicles, Spare Parts & Components, Other Operating Revenue, Service Income, Scrap, Mould & Dies, and Rental Income for the financial year concluding on March 31, 2022.

In the financial quarter ending on June 30, 2023, Maruti Suzuki India reported a Consolidated Total Income of Rs 33,316.90 Crore. This figure represents a noteworthy increase of 1.57% compared to the Total Income of Rs 32,802.50 Crore in the previous quarter and a substantial surge of 25.29% compared to the Total Income of Rs 26,592.70 Crore during the same quarter in the previous year. Furthermore, the company achieved a net profit after tax amounting to Rs 2,463.00 Crore during the latest quarter.

Also Read Maruti Suzuki Joins Forces with Indian Navy for Northeast Outreach

As of June 30, 2023, the promoter’s stake in Maruti Suzuki India stood at 56.48%, while FIIs (Foreign Institutional Investors) held 21.87%, and DIIs (Domestic Institutional Investors) owned 18.05% of the company.

Prabhudas Lilladher’s buy recommendation for Maruti Suzuki India suggests a positive outlook on the company’s stock, indicating potential opportunities for growth that investors may consider.

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