Motilal Oswal has given Buy recommendation for Maruti Suzuki recommended buy rating on the stock with a target price of Rs 10000 in its research with a target price of Rs. 10000 in its research report issued on Apr 29, 2022

Motilal Oswal’s research report on Maruti Suzuki

MSIL reported a strong beat in 4QFY22, led by stable commodity prices and lower discounts. Favorable product lifecycle will drive volumes, market share, and margin, whereas the JPY depreciation will dilute the impact of commodity prices in 1HFY23.


We raise our FY23E/FY24E EPS by 7%/3%, factoring in a ramp-up in exports and forex changes. We maintain our Buy rating, with a TP of INR10,000/share (~27x Jun’24E consolidated EPS).

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