Maruti Suzuki India Stock Forecast

Stock Price Forecast

According to 39 analysts polled by S&P Global, Maruti Suzuki India stock has a consensus rating of "Buy" and an average price target of ₹15,840. The average 1-year stock price forecast is 18.51% higher than the current stock price, while the lowest is ₹12,500 (-6.48%) and the highest is ₹18,500 (+38.41%).

Price Target: ₹15,840 (+18.51%)

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	₹12,500	₹15,840	₹15,984	₹18,500
Change	-6.48%	+18.51%	+19.59%	+38.41%

* Price targets were last updated on Jan 29, 2026.

Analyst Ratings

The average analyst rating for Maruti Suzuki India stock is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Jan '26	Feb '26	Mar '26	Apr '26	May '26	Jun '26
Strong Buy	26	26	26	27	27	26
Buy	7	7	7	7	7	7
Hold	5	5	5	4	4	4
Sell	1	1	1	1	1	1
Strong Sell	1	1	1	1	1	1
Total	40	40	40	40	40	39

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Venugopal Garre Bernstein	Bernstein	Buy Maintains n/a	Buy	Maintains	n/a	n/a	Apr 30, 2026
Shashank Kanodia ICICI Securities	ICICI Securities	Buy Maintains ₹18,700 → ₹17,650	Buy	Maintains	₹18,700 → ₹17,650	+32.05%	Jan 29, 2026
Unknown Analyst Axis Direct No rating	Axis Direct	Buy Maintains ₹16,860	Buy	Maintains	₹16,860	+26.14%	Jan 29, 2026

Financial Forecast

Revenue This Year

2.06T

from 1.83T

12.53%

from 1.83T

Revenue Next Year

2.31T

from 2.06T

11.85%

from 2.06T

EPS This Year

519.83

from 459.46

13.14%

from 459.46

EPS Next Year

620.29

from 519.83

19.33%

from 519.83

Fiscal Year	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026	FY 2027
Period Ending	Mar 31, 2022	Mar 31, 2023	Mar 31, 2024	Mar 31, 2025	Mar 31, 2026	Mar 31, 2027
Revenue	883.30B	1.18T	1.42T	1.53T	1.83T	2.06T
Revenue Growth	25.52%	34.05%	19.80%	7.79%	19.88%	12.53%
Gross Profit	216.42B	318.38B	408.14B	439.52B	510.29B	535.06B
Gross Margin	24.50%	26.89%	28.77%	28.74%	27.84%	25.94%
Operating Income	29.63B	82.76B	134.82B	146.15B	147.15B	164.37B
Net Income	38.80B	82.64B	134.88B	145.00B	146.80B	163.81B
EPS	-	-	-	-	459.46	519.83
EPS Growth	-	-	-	-	3.51%	13.14%
Forward PE	33.55	33.55	33.55	33.55	33.55	25.71
Dividend / Share	60.00	90.00	125.00	135.00	140.00	155.10
Dividend Growth	-	50.00%	38.89%	8.00%	3.70%	10.79%
Free Cash Flow	-9.93B	47.96B	67.05B	41.44B	77.13B	117.85B
No. Analysts	-	-	-	-	-	40

EPS and Forward PE are based on non-GAAP adjusted numbers. Financial currency is INR.

Revenue Forecast

Revenue	2027	2028	2029
High	2.1T
Avg	2.1T
Low	1.9T

Revenue Growth

Revenue Growth	2027	2028	2029
High	16.7%
Avg	12.5%
Low	4.1%

EPS Forecast

EPS	2027	2028	2029
High	-
Avg	519.83
Low	-

EPS Growth

EPS Growth	2027	2028	2029
High	-
Avg	13.1%
Low	-