Buy Maruti Suzuki India: target of Rs 8526: Sharekhan

Sharekhan is bullish on Maruti Suzuki India has recommended buy rating on the stock with a target price of Rs 8526 in its research report dated December 08, 2021.

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Sharekhan’s research report on Maruti Suzuki India

We expect volumes to recover as supply constraints ease gradually in H2FY2022, which would improve Maruti Suzuki India Ltd’s revenue and profitability. MSIL is likely to benefit from buoyant demand for passenger vehicles, driven by rising demand in tier-2 and tier-3 cities and rural areas. MSIL is expected to regain market share in SUV segment, led by product launches in mass and premium segments. MSIL’s earnings are likely to clock a 40.1% CAGR during FY2021-FY2023E, driven by a 21% revenue CAGR and 360 bps improvement in EBITDA margins.

Outlook

We retain a Buy rating on the stock with a revised PT of Rs. 8,526, led by improving supply-side issues.

For all recommendations report, click here

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