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Indian (NIFTY) Auto Industry Analysis

UpdatedApr 15, 2026
DataAggregated Company Financials
Companies19
  • 7D6.3%
  • 3M-9.4%
  • 1Y10.9%
  • YTD-11.4%

The Auto industry is up 6.3% in the last week, with Bajaj Auto up 5.3%. In the last 12 months, the industry was up 11%. Looking forward, earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 16 Apr 2026₹18.4t₹10.2t₹598.9b30.3x30.8x1.8x
Sat, 14 Mar 2026₹17.4t₹10.2t₹598.9b27.9x29x1.7x
Mon, 09 Feb 2026₹19.9t₹10.1t₹580.8b29.9x34.2x2x
Wed, 07 Jan 2026₹21.2t₹10.1t₹643.1b32.8x33x2.1x
Fri, 05 Dec 2025₹20.3t₹10.1t₹643.1b33.7x31.6x2x
Sun, 02 Nov 2025₹20.2t₹10.1t₹724.7b34.6x27.9x2x
Tue, 30 Sep 2025₹21.0t₹10.0t₹717.7b35.6x29.3x2.1x
Thu, 28 Aug 2025₹20.0t₹10.0t₹717.7b32x27.8x2x
Sat, 26 Jul 2025₹18.0t₹9.9t₹715.8b30.2x25.2x1.8x
Mon, 23 Jun 2025₹18.1t₹9.9t₹716.5b30.4x25.3x1.8x
Wed, 21 May 2025₹18.0t₹9.9t₹723.3b29.3x24.8x1.8x
Fri, 18 Apr 2025₹16.4t₹9.8t₹807.6b27.5x20.3x1.7x
Sun, 16 Mar 2025₹15.8t₹9.8t₹807.6b26.4x19.6x1.6x
Tue, 11 Feb 2025₹18.0t₹9.8t₹805.8b30.6x22.3x1.8x
Thu, 09 Jan 2025₹17.7t₹9.6t₹813.0b29x21.8x1.8x
Sat, 07 Dec 2024₹18.0t₹9.6t₹813.0b28.9x22.1x1.9x
Mon, 04 Nov 2024₹18.0t₹9.6t₹809.9b28.4x22.2x1.9x
Wed, 02 Oct 2024₹19.4t₹8.8t₹759.1b32.3x25.5x2.2x
Fri, 30 Aug 2024₹18.4t₹8.8t₹759.1b30x24.3x2.1x
Sun, 28 Jul 2024₹17.7t₹8.6t₹736.6b31.3x24x2x
Tue, 25 Jun 2024₹17.0t₹8.6t₹733.5b33.4x23.1x2x
Thu, 23 May 2024₹16.0t₹8.7t₹733.5b31.9x21.9x1.8x
Sat, 20 Apr 2024₹15.2t₹8.3t₹595.4b32.4x25.6x1.8x
Mon, 18 Mar 2024₹14.4t₹8.3t₹592.3b30.8x24.3x1.7x
Wed, 14 Feb 2024₹13.8t₹8.2t₹589.9b29.9x23.4x1.7x
Fri, 12 Jan 2024₹12.9t₹7.9t₹530.0b30x24.3x1.6x
Sun, 10 Dec 2023₹12.2t₹7.8t₹513.5b32x23.8x1.6x
Tue, 07 Nov 2023₹11.1t₹7.8t₹513.9b29.8x21.5x1.4x
Thu, 05 Oct 2023₹11.0t₹7.5t₹460.6b28.9x23.9x1.5x
Sat, 02 Sep 2023₹10.8t₹7.5t₹462.6b30.5x23.3x1.4x
Mon, 31 Jul 2023₹10.6t₹7.4t₹430.5b34.9x24.5x1.4x
Wed, 28 Jun 2023₹10.0t₹7.0t₹342.3b40.7x29.3x1.4x
Fri, 26 May 2023₹9.6t₹7.0t₹338.5b34x28.3x1.4x
Sun, 23 Apr 2023₹8.8t₹6.6t₹258.8b26.5x34x1.3x
Price to Earnings Ratio

34x


Total Market Cap: ₹8.8tTotal Earnings: ₹258.8bTotal Revenue: ₹6.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Auto Industry Price to Earnings3Y Average 25.6x202420252026
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 30.8x which is higher than its 3-year average PE of 25.6x.
  • 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 32% per year over the last three years.
  • Revenues for these companies have grown 15% 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 Market4.48%
Consumer Discretionary5.70%
Auto6.33%
Motorcycle Manufacturers8.12%
Automobile Manufacturers4.98%
Industry PE
  • Investors are most optimistic about the Motorcycle Manufacturers industry which is trading above its 3-year average PE ratio of 36.3x.
    • Analysts are expecting annual earnings growth of 16.5%, which is lower than the prior year's growth of 28.9% 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 22.4x.
Forecasted Growth
  • Analysts are most optimistic on the Motorcycle Manufacturers industry, expecting annual earnings growth of 16% over the next 5 years.
  • However this is lower than its past earnings growth rate of 29% per year.
  • In contrast, the Automobile Manufacturers industry is expected to see its earnings grow by 9.4% 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
BAJAJ-AUTO Bajaj Auto₹9.87k5.3%
+₹139.5b		23.9%PE31x
500570 Tata Motors Passenger Vehicles₹357.906.8%
+₹84.1b		-41.9%PE36.4x
M&M Mahindra & Mahindra₹3.26k1.4%
+₹51.8b		23.6%PE23.1x
532343 TVS Motor₹3.79k2.4%
+₹41.5b		44.6%PE62.4x
ATHERENERG Ather Energy₹871.0513.0%
+₹38.4b		n/aPS10.5x

Latest News

532343
₹3,785.30
TVS Motor
7D
2.4%
1Y
44.6%

532343: EV And International Expansion Will Support Steady Long Term Prospects

Analysts have nudged their price target on TVS Motor slightly lower from about ₹3,960 to roughly ₹3,920, reflecting updated assumptions around the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News Launched the TVS Armado 200 three wheeler in Indonesia, targeting commercial and logistics use with an 840 kg payload capacity, a 197.75 cc oil cooled engine, and introductory pricing of IDR 34,900,000 during the launch period (Key Developments).
500570
₹357.90
Tata Motors Passenger Vehicles
7D
6.8%
1Y
-41.9%
BAJAJ-AUTO
₹9,865.00
Bajaj Auto
7D
5.3%
1Y
23.9%
531795
₹472.30
Atul Auto
7D
8.4%
1Y
-4.1%
MARUTI
₹13,289.00
Maruti Suzuki India
7D
-2.3%
1Y
13.9%

MARUTI: Gujarat Capacity Buildout And Export Ramp Will Support Long Term Upside

Analysts have trimmed their price target for Maruti Suzuki India from about ₹17,235 to roughly ₹16,744, reflecting slightly adjusted assumptions on discount rate, revenue growth, profit margin and future P/E expectations. What's in the News A board meeting is scheduled on April 28, 2026 to consider and approve audited financial results for the year ended March 31, 2026, and to consider and recommend any dividend on equity shares for FY 2025-26 (company filing).
M&M
₹3,256.50
Mahindra & Mahindra
7D
1.4%
1Y
23.6%

M&M: Maharashtra Capacity Buildout Will Define Next Phase Of Upside Potential

Analysts have trimmed their price target on Mahindra & Mahindra to about ₹4,199 from roughly ₹4,312. This reflects slightly adjusted assumptions around discount rate, revenue growth, profit margins and future P/E multiples.
505200
₹7,128.05
Eicher Motors
7D
-0.07%
1Y
26.9%

505200: Trimmed Assumptions Will Support Bullish View Ahead Of Feb 10 Results

Analysts have trimmed their fair value estimate for Eicher Motors slightly, with the target moving from about ₹7,889 to roughly ₹7,879 as small adjustments in discount rate, long term revenue growth, profit margin and future P/E assumptions flow through their models. What's in the News Eicher Motors has scheduled a board meeting on Feb 10, 2026 to consider and approve its unaudited standalone financial results for the quarter and period ended Dec 31, 2025 (company filing).
500182
₹5,284.90
Hero MotoCorp
7D
-0.02%
1Y
39.7%

500182: Rising Dividend And Capital Commitments Will Constrain Future Share Returns

Analysts now place Hero MotoCorp's fair value at approximately ₹4,372, up from around ₹4,214, citing updated assumptions for revenue growth, profit margin, discount rate, and future P/E that they view as better aligned with the current outlook for the business. What's in the News The Board approved an interim dividend of ₹110 per equity share with a face value of ₹2 each for the financial year 2025-26, described as 5,500% of the share's nominal value.
OLAELEC
₹38.59
Ola Electric Mobility
7D
27.5%
1Y
-23.1%

OLAELEC: Battery Subsidiary And Storage Rollout Will Drive Future Upside

Analysts have trimmed their price target on Ola Electric Mobility from ₹30.13 to ₹29.88, reflecting slightly lower fair value and profit margin assumptions that are only partly offset by a modestly reduced discount rate and future P/E input. What's in the News Ola Electric is rolling out the Ola Insiders Upgrade Program to more than 150 cities, targeting coverage of about 80% of its customer base for upgrades to Gen 3 S1 scooters and Roadster motorcycles, alongside add on and referral benefits for existing owners (Key Developments).
ATHERENERG
₹871.05
Ather Energy
7D
13.0%
1Y
n/a
HYUNDAI
₹1,781.40
Hyundai Motor India
7D
0.1%
1Y
8.9%

SUV Demand, Export Expansion And Capacity Investments Will Support Long Term Upside

Catalysts About Hyundai Motor India Hyundai Motor India manufactures and sells passenger vehicles in India and exports vehicles to multiple emerging markets. What are the underlying business or industry changes driving this perspective?