HDFC Securities: Maruti Suzuki Q2 Review - Strong Start To The Festive Season
A couple look at Suzuki-Maruti cars at at a showroom in Bangalore (Photographer Namas Bhojani/Bloomberg)

HDFC Securities: Maruti Suzuki Q2 Review - Strong Start To The Festive Season

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

HDFC Securities Report

Maruti Suzuki India Ltd. reported double-digit margin (10.3%) in Q2, which was 80 basis points higher YoY due to improved operating leverage.

The festive season has received an encouraging response with retails up 27% YoY to 96,700 units over the Navratri period.

Maruti continues to benefit from its dominance in the entry level segment, with the share of first-time buyers increasing to 48% (from 43% YoY).

System inventories remain comfortably below the normalised level of 30 days.

Click on the attachment to read the full report:

HDFC Securities Maruti Suzuki Q2FY21 Results Update.pdf


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