IDBI Capital: Maruti Suzuki’s Outlook Remains Bright

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IDBI Capital Report

Maruti Suzuki India Ltd.’s Q2 FY21 results were below our and consensus estimates at revenue and adjusted profit after tax level due to lower realisation and lower other income.

Ebitda margin for the quarter stood at 10.3% versus our and consensus estimates of 9.5% and 10.6% respectively.

We believe pent demand and preference for personal mobility has helped the company to register good numbers during festive season.

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IDBI Capital Maruti Suzuki Q2FY21 Result Update.pdf

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