Views on Maruti Suzuki 1QFY2016 Results: Angel Broking

Views of Mr. Bharat Gianani (Sr. Research Analyst - Automobile, Angel Broking) on Maruti Suzuki 1QFY2016 Results:

"Maruti Suzuki 1QFY2016 results were in line with estimates. Revenues grew 18% yoy to INR 13,425 cr v/s expectations of INR 13,466 cr. Volumes during the quarter grew a robust 14% yoy. Realisation per vehicle grew 4% yoy on back of better product mix. Operating margins improved 420 bp yoy to 16.3% (we forecasted 16.2% margin) due to reduction in raw material costs (owing to Japanese Yen depreciation) and reduction in the discounts. Given the robust operating performance, Net Profit grew 57% yoy to INR 1,193 cr which is in line with our estimates of INR 1,228cr.We currently have NEUTRAL rating on the stock but would review our estimates post interaction with the management."

Shares of MARUTI SUZUKI INDIA LTD. was last trading in BSE at Rs.4195.65 as compared to the previous close of Rs. 4176.35. The total number of shares traded during the day was 192379 in over 13007 trades.

The stock hit an intraday high of Rs. 4243.9 and intraday low of 4152.5. The net turnover during the day was Rs. 807443492.

Source : Equity Bulls

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