Maruti Suzuki Q3 Review - Healthy Order Book, Low Inventory To Drive Earnings: Dolat Capital 
Maruti Suzuki vehicles stand lined up at the Maruti Suzuki India Ltd. showroom in New Delhi, India. (Photographer Prashanth Vishwanathan/Bloomberg)

Maruti Suzuki Q3 Review - Healthy Order Book, Low Inventory To Drive Earnings: Dolat Capital 

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.

Dolat Capital Report

Maruti Suzuki India Ltd.’s Q3 FY21 Ebitda margin at 9.5% was below estimates impacted by increase in input cost (gross profit margin slipped by 257 basis points QoQ), unfavorable forex movement and salary increments to employees.

The company has taken an average price hike of approximately 2% in the month of January 2021 to mitigate the impact of raw material cost.

Demand recovery has been good, volume grew 13.4% YoY in Q3 driven by first-time buyers (share increased to 49% versus 43% YoY), pent-up demand, and strong rural market.

Click on the attachment to read the full report:

Dolat Capital Maruti Suzuki Q3FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.