Maruti Suzuki India Limited is the undisputed leader in India’s passenger vehicle market, with over 40% market share and a product portfolio spanning entry-level hatchbacks to premium SUVs. A subsidiary of Japan’s Suzuki Motor Corporation (58.28% promoter holding), Maruti has built a reputation for fuel-efficient, affordable, and reliable vehicles backed by an unmatched service network of over 4,500 touchpoints. As of January 2026, the company is navigating a strategic transition toward electrification, export expansion, and premiumization—while maintaining strong profitability and a near-debt-free balance sheet. This article provides a data-driven outlook on the Maruti Suzuki share price target 2026–2030.
Maruti Suzuki: Company Overview
- Founded: 1981
- Managing Director: Mr. Hisashi Takeuchi
- NSE Symbol: MARUTI
- Key Segments: Passenger Vehicles (Hatchbacks, Sedans, SUVs), Utility Vehicles, Commercial Vehicles, Spare Parts & After-Sales
- Market Position: India’s #1 carmaker by volume; Suzuki’s largest global subsidiary
Maruti operates 4 manufacturing plants with an annual capacity of ~2 million units. It leads in CNG and hybrid vehicles and is investing ₹18,000 Cr in EV development through its JV with Suzuki (Toyotsu). The company also exports to 50+ countries, with Africa, Latin America, and the Middle East as key markets.
Maruti Suzuki: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹15,850 |
| Market Capitalization | ₹4,98,534.01 Cr |
| No. of Shares Outstanding | 31.44 Cr |
| 52-Week High / Low | ₹17,200 / ₹11,500 |
| P/E Ratio (TTM) | 33.73 |
| P/B Ratio | 5.00 |
| EPS (TTM) | ₹470.08 |
| Book Value (TTM) | ₹3,172.49 |
| ROE | 15.95% |
| ROCE | 21.78% |
| Dividend Yield | 0.85% |
| Face Value | ₹5 |
| Cash | ₹41.60 Cr |
| Debt | ₹1,215.80 Cr |
| Sales Growth (YoY) | 7.79% |
| Profit Growth (YoY) | 7.50% |
| Promoter Holding | 58.28% |
Maruti Suzuki Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹16,800 – ₹18,500 |
| 2027 | ₹18,200 – ₹20,200 |
| 2028 | ₹19,600 – ₹22,000 |
| 2029 | ₹21,000 – ₹24,000 |
| 2030 | ₹22,500 – ₹26,000 |
Maruti Suzuki Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹16,800 | ₹18,500 |
Maruti reported 7.5% YoY profit growth in FY2025, supported by strong demand for premium models (Grand Vitara, Brezza) and CNG variants. Despite modest top-line growth (7.79%), its ROCE of 21.78% and near-zero net debt reflect operational excellence. Trading at a P/E of 33.7x, the stock prices in long-term EV bets and export potential. A 2026 target range of ₹16,800–₹18,500 assumes stable margins and no major supply-chain disruptions.
Maruti Suzuki Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹18,200 | ₹20,200 |
If Maruti sustains 10–12% earnings growth through premiumization (SUVs now >40% of sales) and cost control, investor confidence will remain strong. Assuming EPS reaches ₹510–₹540 by FY27 and P/E stabilizes at 34–35x, the 2027 target range of ₹18,200–₹20,200 is justified.
Maruti Suzuki Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹19,600 | ₹22,000 |
By 2028, benefits from EV/hybrid launches (e.g., e-Vitara), export scale-up, and Manesar plant expansion should reflect in margins. With ROCE consistently above 20%, the company efficiently deploys capital. A P/E of 35–36x on projected EPS of ₹540–₹580 supports the ₹19,600–₹22,000 band.
Maruti Suzuki Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹21,000 | ₹24,000 |
Long-term tailwinds include India’s rising auto penetration (current: 35 cars/1,000 people vs global avg: 180), rural recovery, and government PLI schemes. If competition from Tata and Hyundai doesn’t erode pricing, EPS could reach ₹570–₹610 by FY29. At a P/E of 35–37x, the 2029 target is ₹21,000–₹24,000.
Maruti Suzuki Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹22,500 | ₹26,000 |
Over a five-year horizon, Maruti’s appeal lies in brand trust, scale, and Suzuki’s R&D backing. A terminal P/E of 36–38x on FY30 EPS (~₹600–₹680) justifies the ₹22,500–₹26,000 range. Upside depends on EV adoption speed; downside is limited by cash flow resilience.
Maruti Suzuki: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters (Suzuki Motor Corp.) | 58.28% |
| Domestic Institutional Investors (DII) | 22.62% |
| Foreign Institutional Investors (FII) | 15.78% |
| Public & Others | 3.31% |
High promoter holding ensures strategic continuity. Strong institutional ownership (38.4%) reflects analyst coverage and liquidity.
Maruti Suzuki: Strengths vs Risks
Strengths:
- Market leadership with 40%+ PV share in India
- Industry-leading ROCE (21.78%) and a near-debt-free balance sheet
- Strong cash conversion and consistent dividend history (0.85% yield)
- Unmatched distribution and service network
Risks:
- High P/E (33.7x) leaves little room for execution delays in EVs
- Slow EV rollout vs Tata Motors
- Rising competition in the SUV segment (Hyundai Creta, Kia Seltos)
- Currency volatility impacts import costs (engines, electronics)
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate |
| Ideal Time Horizon | 5+ years |
| Volatility | Lower than market average (large-cap liquidity) |
| Dividend/Income Potential | Low (0.85% yield) but consistent |
| Best For | Core portfolio holding for investors betting on India’s auto consumption story |
FAQs
What is the future of Maruti shares?
Maruti is transitioning from ICE to hybrid/EV while expanding exports. Its future hinges on successful EV launches, cost leadership, and maintaining a premium mix. Long-term outlook remains positive due to India’s underpenetrated auto market.
What is the target of Maruti in 2030?
Based on fundamentals and sector trends, the Maruti Suzuki share price target for 2030 is ₹22,500–₹26,000.
Is Maruti a good investment?
Yes—for long-term portfolios seeking exposure to India’s auto and consumption growth. Avoid if you seek low-valuation or high-dividend stocks. Suitable only as a core large-cap holding with a 5+ year horizon.
Final Verdict
Maruti Suzuki remains India’s auto kingpin—profitable, scalable, and shareholder-friendly. While near-term growth is priced in, its long-term optionality in EVs and exports offers compelling upside.
Our Maruti Suzuki share price target 2026–2030 (₹16,800 to ₹26,000) reflects steady earnings growth, moderate multiple expansion, and sustained investor confidence. It won’t deliver explosive gains, but offers reliable compounding for those betting on India’s mobility evolution.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – Maruti Suzuki Consolidated Page (FY2025 + TTM)
- Finology Ticker – MARUTI Financials & Analysis
- Groww.in – Maruti Suzuki Stock Profile
- Maruti Suzuki Investor Presentation (Q3 FY26, Jan 2026)
- SIAM & Ministry of Heavy Industries Reports on Auto Sector Outlook
