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Indian (NIFTY) Auto Industry Analysis

UpdatedJun 19, 2026
DataAggregated Company Financials
Companies19
  • 7D2.5%
  • 3M6.5%
  • 1Y4.9%
  • YTD-9.5%

The Auto industry is up 2.5% in the last week, with Eicher Motors up 4.3%. In the same time, Tata Motors Passenger Vehicles was down 7.7%. In the last 12 months, the industry was up 4.9%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

Has the Indian Auto Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 19 Jun 2026₹18.9t₹9.9t₹583.5b28.9x32.3x1.9x
Sun, 17 May 2026₹18.5t₹9.9t₹578.2b27.4x32x1.9x
Tue, 14 Apr 2026₹18.4t₹10.2t₹598.9b30.3x30.8x1.8x
Thu, 12 Mar 2026₹18.5t₹10.2t₹598.9b28.4x30.9x1.8x
Sat, 07 Feb 2026₹19.9t₹10.1t₹580.8b29.9x34.2x2x
Mon, 05 Jan 2026₹21.0t₹10.1t₹643.1b32.2x32.6x2.1x
Wed, 03 Dec 2025₹20.5t₹10.1t₹643.1b33.9x31.9x2x
Fri, 31 Oct 2025₹20.2t₹10.0t₹720.2b35.1x28x2x
Sun, 28 Sep 2025₹21.1t₹10.0t₹717.7b36x29.4x2.1x
Tue, 26 Aug 2025₹19.9t₹10.0t₹717.7b32.2x27.8x2x
Thu, 24 Jul 2025₹18.3t₹9.9t₹715.8b30.5x25.5x1.9x
Sat, 21 Jun 2025₹18.1t₹9.9t₹716.5b30.4x25.3x1.8x
Mon, 19 May 2025₹18.3t₹9.9t₹723.3b29.8x25.2x1.8x
Wed, 16 Apr 2025₹16.3t₹9.8t₹807.6b27.6x20.2x1.7x
Fri, 14 Mar 2025₹15.8t₹9.8t₹807.6b26.4x19.6x1.6x
Sun, 09 Feb 2025₹18.2t₹9.8t₹805.8b31.1x22.6x1.9x
Tue, 07 Jan 2025₹17.8t₹9.6t₹813.0b29.2x21.8x1.9x
Thu, 05 Dec 2024₹17.7t₹9.6t₹813.0b28.5x21.8x1.8x
Sat, 02 Nov 2024₹18.0t₹9.6t₹809.9b28.4x22.2x1.9x
Mon, 30 Sep 2024₹19.9t₹8.8t₹759.1b32.6x26.2x2.2x
Wed, 28 Aug 2024₹18.3t₹8.8t₹759.1b30x24x2.1x
Fri, 26 Jul 2024₹17.3t₹8.6t₹736.6b30.8x23.5x2x
Sun, 23 Jun 2024₹16.8t₹8.6t₹733.5b33.3x22.9x2x
Tue, 21 May 2024₹16.1t₹8.7t₹733.2b32x21.9x1.9x
Thu, 18 Apr 2024₹15.4t₹8.3t₹592.3b33x25.9x1.8x
Sat, 16 Mar 2024₹14.4t₹8.3t₹592.3b30.8x24.3x1.7x
Mon, 12 Feb 2024₹13.8t₹8.2t₹589.9b29.6x23.4x1.7x
Wed, 10 Jan 2024₹12.8t₹7.9t₹530.0b29.5x24.1x1.6x
Fri, 08 Dec 2023₹12.3t₹7.8t₹513.5b32.3x24x1.6x
Sun, 05 Nov 2023₹11.0t₹7.8t₹513.9b29.1x21.4x1.4x
Tue, 03 Oct 2023₹11.0t₹7.5t₹460.6b29.4x23.9x1.5x
Thu, 31 Aug 2023₹10.6t₹7.5t₹462.6b29.7x22.9x1.4x
Sat, 29 Jul 2023₹10.6t₹7.4t₹430.5b34.9x24.5x1.4x
Mon, 26 Jun 2023₹9.9t₹7.0t₹342.3b40.4x28.9x1.4x
Price to Earnings Ratio

28.9x


Total Market Cap: ₹9.9tTotal Earnings: ₹342.3bTotal Revenue: ₹7.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Auto Industry Price to Earnings3Y Average 25.5x202420252026
Current Industry PE
  • Investors are optimistic on the Indian Auto industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 32.3x which is higher than its 3-year average PE of 25.5x.
  • The industry is trading close to its 3-year average PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Auto industry have grown 19% per year over the last three years.
  • Revenues for these companies have grown 12% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Consumer Discretionary industry?

IN Market5.06%
Consumer Discretionary5.57%
Auto2.46%
Automobile Manufacturers2.53%
Motorcycle Manufacturers2.37%
Industry PE
  • Investors are most optimistic about the Motorcycle Manufacturers industry, which is trading close to its 3-year average PE ratio of 37.0x.
    • Analysts are expecting annual earnings growth of 14.1%, which is lower than the prior year's growth of 16.5% per year.
  • Investors are most pessimistic about the Automobile Manufacturers industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 21.9x.
Forecasted Growth
  • Analysts are most optimistic on the Automobile Manufacturers industry, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings decline of 1.2% per year.
  • In contrast, the Motorcycle Manufacturers industry is expected to see its earnings grow by 14% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
505200 Eicher Motors₹7.63k4.3%
+₹87.2b		38.1%PE37.9x
532343 TVS Motor₹3.44k3.7%
+₹58.7b		22.5%PE54.2x
M&M Mahindra & Mahindra₹3.07k1.0%
+₹35.7b		-3.4%PE20.1x
MARUTI Maruti Suzuki India₹13.40k0.2%
+₹9.1b		4.7%PE28.7x
500182 Hero MotoCorp₹4.97k0.2%
+₹2.3b		14.6%PE17.3x

Latest News

500570
₹359.50
Tata Motors Passenger Vehicles
7D
-7.7%
1Y
-46.8%
Narrative Update • Jun 16

500570: Higher Discount Rate Sensitivity Will Pressure Future Share Price

Analysts have kept the Tata Motors Passenger Vehicles price target steady at ₹300, citing only small adjustments to assumptions such as discount rate, revenue growth, profit margin and future P/E as reasons for maintaining their view. What’s in the News for Tata Motors Passenger Vehicles The board meeting on May 14, 2026 will consider and approve audited standalone and consolidated financial results for the fourth quarter and full year ended March 31, 2026.
532343
₹3,442.60
TVS Motor
7D
3.7%
1Y
22.5%
Narrative Update • Jun 16

532343: Premium Retail Expansion Will Support Long Term Outlook

Analysts are keeping their ₹4,800 price target on TVS Motor unchanged, as a slightly lower discount rate and higher assumed revenue growth are being offset by more conservative profit margin and future P/E expectations. What's in the News TVS Motor is setting up TVS Paddock, an exclusive premium retail channel designed with Checkland Kindleysides to offer an immersive, community focused experience for its higher end motorcycles, with launch planned for Q2 FY 2027 (Key Developments).
500182
₹4,974.50
Hero MotoCorp
7D
0.2%
1Y
14.6%
Narrative Update • Jun 10

500182: Final Dividend And Leadership Continuity Will Support Positive Outlook

Analysts have trimmed their fair value estimate for Hero MotoCorp from ₹6,106.17 to ₹5,931.89 as they now apply slightly lower revenue growth, profit margin and future P/E assumptions, along with a modestly reduced discount rate. What's in the News A board meeting is scheduled for May 5, 2026, at 15:00 Indian Standard Time to review the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026.
531795
₹473.35
Atul Auto
7D
4.0%
1Y
6.3%
DELTIC
₹34.95
Delta Autocorp
7D
-6.9%
1Y
-52.4%
505200
₹7,628.50
Eicher Motors
7D
4.3%
1Y
38.1%
Narrative Update • Jun 09

505200: Joint Financing Venture And New Model Launches Will Support Balanced Outlook

Analysts have inched up their fair value estimate for Eicher Motors from about ₹7,802 to roughly ₹7,824, citing slightly adjusted assumptions around discount rate, profit margin and forward P/E as the key drivers of the revised price target. What's in the News At its May 22, 2026 meeting, the board of Eicher Motors recommended a final dividend of ₹82 per equity share of face value ₹1 for the year ended March 31, 2026, subject to shareholder approval at the 44th Annual General Meeting.
BAJAJ-AUTO
₹10,066.00
Bajaj Auto
7D
0.03%
1Y
20.2%
Narrative Update • Jun 07

BAJAJ-AUTO: Buyback And Dividend Actions Will Support Balanced Long Term Outlook

Analysts have raised their price target for Bajaj Auto from ₹10,124.58 to ₹10,795.10, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as the reasons for this revision. What's in the News The Board of Directors has scheduled a meeting on May 6, 2026, to consider audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, a dividend recommendation on equity shares, and the formation of a buyback committee with an equity share buyback proposal of up to ₹5,632.8 crore, as per the agenda.
OLAELEC
₹42.25
Ola Electric Mobility
7D
-7.6%
1Y
-8.3%
Narrative Update • Jun 06

OLAELEC: Ongoing Capital Needs And Funding Uncertainty Will Constrain Future Upside

Analysts have kept their fair value estimate for Ola Electric Mobility steady at ₹20.0. Updated assumptions show a lower discount rate, more moderate revenue growth, a slightly higher profit margin and a higher future P/E, which feeds into the latest price target narrative. What's in the News Ola Electric completed a follow on equity offering of Equity Shares, raising ₹7.802362b by issuing 217,578,428 shares at ₹35.86 per share.
MARUTI
₹13,395.00
Maruti Suzuki India
7D
0.2%
1Y
4.7%
Narrative Update • Jun 05

MARUTI: Gujarat Capacity Addition And Land Purchase Will Support Long Term Upside

Analysts have trimmed their 12 month fair value estimate for Maruti Suzuki India from ₹16,589.75 to ₹15,840.13, citing updated assumptions for revenue growth, profit margins, the discount rate and future P/E expectations. What's in the News A board meeting is scheduled for March 24, 2026, to consider acquiring land at Khoraj Industrial Estate from Gujarat Industrial Development Corporation and to review the addition of a first phase of production capacity at that site.
M&M
₹3,074.80
Mahindra & Mahindra
7D
1.0%
1Y
-3.4%
Narrative Update • Jun 04

M&M: New Life Insurance Venture Will Drive Next Upside Phase

Analysts have nudged their fair value estimate for Mahindra & Mahindra slightly higher from ₹4,138.83 to ₹4,143.65, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News Mahindra & Mahindra and Manulife have incorporated their life insurance joint venture, Mahindra Manulife Insurance Limited, following approval from the Ministry of Corporate Affairs.
544428
₹39.47
Supertech EV
7D
-8.0%
1Y
n/a
TUNWAL
₹26.65
Tunwal E-Motors
7D
-5.2%
1Y
-16.2%
HYUNDAI
₹1,973.20
Hyundai Motor India
7D
-0.8%
1Y
-1.6%
VICTORYEV
₹17.10
Victory Electric Vehicles International
7D
-3.7%
1Y
n/a
ATHERENERG
₹971.70
Ather Energy
7D
-5.5%
1Y
203.0%
531357
₹33.29
Mercury Ev-Tech
7D
8.2%
1Y
-42.4%