Q1FY23 Preview: Maruti Suzuki: Revenue seen at Rs257,586 million; PAT at Rs15,614 million

26 Jul 2022 , 04:03 PM

Result date: 27th July
Recommendation: Buy
Target price: Rs10,800

Anaysts at IIFL Securities forecast revenue of Rs257,586 million in the June quarter for Maruti Suzuki. This will be a year-on-year growth of 45% in revenues of the company. This will be on the back of 32.3% year-on-year growth in volumes. 

EBITDA is forecasted to be Rs23177 million. This will be a year-on-year growth of 182.3%. EBITDA margin is expected to stand at 9%. This will be a year-on-year growth of 483 basis points. Key margin tailwinds include price hikes and favorable currency. On the other hand, increase in input costs and negative operating leverage and prominent margin headwinds.

Profit After Tax (PAT) is forecasted to stand at Rs15,614 million. This will be a year-on-year growth of 254.2% in PAT.

Key management insights to look into:

• Outlook on EBITDA margin, price hikes and input costs
• Demand trends in key markets

	June Quarter estimate	Y-o-Y	Q-o-Q
Volumes (in units)	467,931	32.3%	(4.3)%
Revenue (Rs mn)	257,586	45.0%	(3.7)%
EBITDA (Rs mn)	23,177	182.3%	(4.5)%
EBITDA Margin	9.0%	438 bps	(8) bps
PAT (Rs mn)	15,614	254.2%	(15.1)%

Source: IIFL Research