Views on Maruti Suzuki India Ltd 3QFY2017 Results: Angel Broking

Views of Mr. Shrikant Akolkar (Research Analyst- Auto & Auto Ancillary, Angel Broking) on Maruti Suzuki India Ltd 3QFY2017 Results:

"MSIL reported a good set of numbers with 12.3% growth in net sales and 47.5% growth in PAT on YoY basis. EBITDA came at INR 2,489cr showing YoY growth of 16.0%. EBITDA margins were at 14.8% vs. 14.3% in Q3FY16 and 17.1% in Q2FY17. While mini and compact segment vehicles reported a small decline, UV segment vehicles reported a strong growth indicating success of its new products. Net realizations grew by 8.65% on YoY basis as company is benefitting from the improved product mix. We expect MSIL to continue its strong performance with the launch of new hatchback Ignis. We retain our ACCUMULATE rating on the stock."

Shares of MARUTI SUZUKI INDIA LTD. was last trading in BSE at Rs.5796.8 as compared to the previous close of Rs. 5739.15. The total number of shares traded during the day was 108377 in over 9688 trades.

The stock hit an intraday high of Rs. 5820.75 and intraday low of 5718.5. The net turnover during the day was Rs. 625850812.

Source : Equity Bulls

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