Maruti Suzuki shares: During mid-day trading on March 20, shares of Maruti Suzuki, India’s leading car manufacturer, surged past the Rs 12,000 mark. At 1:40 pm, the stock was trading at Rs 11,992.50, indicating a 3.41 percent increase.
According to a recent report from brokerage firm CLSA, Maruti Suzuki is expected to uphold its leading position in the CNG passenger vehicle (PV) segment, commanding a 72 percent share. CLSA forecasts that Maruti Suzuki and Tata Motors will experience advantages with the increasing popularity of CNG passenger vehicles. The brokerage estimates that the market share of CNG PVs will escalate from 15 percent in FY2024 to 22 percent in FY2030. CLSA attributes this growth to the reduced operational costs associated with CNG vehicles.
The Numbers
In the third quarter of FY24, the company recorded a net profit of Rs 3,130 crore, marking a 33 percent year-on-year (YoY) rise compared to the previous fiscal year. Revenue for the corresponding period also saw a 15 percent increase, reaching Rs 33,309.7 crore from Rs 29,044.3 In the same period last year, the figure stood at crore. Earnings before interest, tax, depreciation, and amortization (EBITDA) for the same period surged by 38 percent YoY to Rs 3,909 crore, up from Rs 2,833 crore in the preceding fiscal year.
During Q3, the company achieved total vehicle sales of 4,65,911 units, reflecting an 8.2% rise year-over-year (YoY). Domestic sales accounted for 4,03,929 units, while exports reached 61,982 units.
Also Read: Jio Financial shares
In the past six months, the stock has seen an approximately 15 percent increase, while the year-to-date (YTD) rise stands at approximately 46 percent.
Disclaimer: The information provided by Stockeasynow about the stock market is purely informative and should not be interpreted as financial advice. Before making any investing decisions, readers are advised to speak with a licensed financial advisor.
