Whalesbook
Company Ne Kamaya Record Revenue, Par Profit Mein Thoda Pressure!
Bhaiyo, Maruti Suzuki ne latest results mein toh kamaal kar diya hai! Q4 FY26 mein company ka revenue ₹50,078.7 crore par pahunch gaya hai, jo 28.2% ka zabardast jump hai. Sales volume bhi record 676,209 units par pahunch gaya, 11.8% zyada. Exports bhi 34.6% bhag gaye. Poore saal FY26 ka revenue bhi ₹1,74,369.5 crore tak pahunch gaya, 20.2% upar.
Lekin yahan ek twist hai! Jab net profit ki baat aati hai, toh Q4 FY26 mein yeh 6.9% gir kar ₹3,590.5 crore ho gaya. Iska reason hai input costs ka badhna aur mark-to-market impacts. Haan, poore saal FY26 ka net profit ₹14,445.4 crore ka record zaroor hai. Aur future ke liye, company apni upcoming eVX electric car ko ek bada growth driver dekh rahi hai. FY27 mein domestic volumes mid-single-digit aur exports double-digit grow hone ki ummeed hai.
Stock Ka Kya Scene Hai? (Technical Outlook)
Ab stock ki baat karte hain. Yeh filhaal ₹13,090 ke level par trade kar raha hai. Is April mein isne 7.7% ka jump dikhaya hai, jo market mein chal rahi recovery ke hisaab se theek hai. Lekin agar saal ki shuruaat se dekho toh yeh Nifty 50 ke comparison mein thoda peeche raha hai (Nifty 7.5% up, Maruti 21% down). Par haan, technical charts par ab thodi short-term strength dikh rahi hai. Kuch analysts ko toh lagta hai ki agar yeh ₹14,000 ka level cross kar gaya toh ₹15,180 se ₹15,980 tak bhi ja sakta hai. Wait and watch!
Valuation Aur Competition Ka Mamla
Ab valuation ki baat karte hain. Maruti Suzuki ka P/E ratio 27-28x chal raha hai, aur market cap lagbhag ₹4.17 trillion hai. Jab rivals se compare karte hain, toh yeh thoda expensive lag sakta hai. Jaise Tata Motors toh sirf 9.28x P/E par hai. M&M bhi lagbhag same 28-29x par hai, par uska SUV aur tractor business strong hai. Matlab, Tata Motors ke comparison mein Maruti abhi utna attractive nahi lag raha, despite uska bada passenger vehicle market share.
Margin Pressure Aur Costs Ka Headache
Profit toh gir gaya, aur margin pressure bhi hai. Iska reason hai badhti hui raw material aur logistics costs. Aage bhi commodity prices fluctuate hone se yeh pressure reh sakta hai. Company affordable cars par focus karti hai, jahan competitors premium aur EV models la rahe hain. Ek taraf order backlog 190,000 units ka hai, matlab demand toh hai, par agar costs manage nahi hui toh competitors faida utha sakte hain.
Analysts Kya Keh Rahe Hain?
Analysts filhaal positive hain. Axis Securities ne 'Buy' rating ke saath target ₹14,620 diya hai. Motilal Oswal bhi 'BUY' bol raha hai aur target ₹15,529 diya hai. Choice Broking ne 'Add' rating di hai par target ₹14,600 kiya hai. Overall, lagbhag 38 brokerage firms 'Outperform' bol rahe hain, aur average target ₹16,897 ke aas-paas hai, matlab lagbhag 30% ka upside dikh raha hai. eVX launch, exports, production capacity badhana aur costs manage karna hi future growth ke liye important hoga.