Buy Maruti Suzuki; target of Rs 8200: Motilal Oswal

Motilal Oswal is bullish on Maruti Suzuki recommended buy rating on the stock with a target price of Rs 8200 in its research report dated dated July 28, 2021.

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Motilal Oswal’s research report on Maruti Suzuki

Maruti Suzuki (MSIL) reported a weak performance in 1QFY22, weighed by the impact of the lockdowns on volumes as well as commodity cost inflation. While commodity inflation would persist in 2Q, there are drivers in place for sustained volume and margin recovery from 2HFY22E. We lower our FY22E/FY23E EPS by 13%/3%, factoring in further cost inflation in 2Q, higher staff costs, and lower other income. Maintain Buy, with TP of INR8,200/share (27x Mar’23E consol. EPS).

Outlook

The stock trades at 38.1x/23.5x FY22E/FY23E consolidated EPS. Maintain Buy, with TP of INR8,200/share (27x Mar’23E consolidated EPS).

For all recommendations report, click here

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