- Maruti Suzuki posted very low growth YoY in revenue (5%) and PAT (5%) in 3QFY20

- The company saw its market share rise to 52% (+2.4% QoQ) in passenger PV segment

- Gross margins declined on account of higher discounts and lower production

- Demand environment is improving based on enquiries where rural demand is better than urban demand

- Post BS-VI, company expects further decline in industry share of diesel to 15-20%

- Commodity prices have also increased which will reflect in 1QFY21 P&L

- Valuations at 26.7x/20.6x FY21/FY22E consol. EPS are on the early recovery cycle and can improve as demand environment improves.

Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.

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