The company is well placed to benefit from any reduction in duty on hybrid vehicles and valuation multiple re-rating from possible listing for Hyundai Motor India.
Maruti Suzuki India, HCL Technologies, Bajaj Finserv, SBI Life Insurance Company and Shriram Finance would be announcing their quarterly earnings later today.
Maruti Suzuki Q4 Results: The profit figure was higher than the Street estimate of Rs 3046 crore. The Board has also recommended a final dividend of Rs 125 per share for the financial year 2023-24. For the full financial year, the automakers standalone PAT stood at Rs 13,209 crore, up over 64% YoY compared to Rs 8,049 crore reported in FY23.
Maruti Suzuki Q4 earnings: Nomura India sees Maruti Suzuki India's profit at Rs 4,265 crore, up 63 per cent YoY. It sees sales for MSIL rising 21 per cent YoY to Rs 38,693 crore. This brokerage sees margin at 13.9 per cent, up 347 basis points.