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Indian (NIFTY) Auto Industry Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies19
  • 7D-3.0%
  • 3M-17.0%
  • 1Y3.4%
  • YTD-17.1%

Over the last 7 days, the Auto industry has dropped 3.0%, driven by declines in Hyundai Motor India and Mahindra & Mahindra of 9.2% and 3.7%, respectively. Meanwhile, Ola Electric Mobility actually outperformed within the industry, gaining 19% in the last week. Over the past 12 months, the industry was up 3.4%. Looking forward, earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Apr 2026₹17.3t₹10.2t₹598.9b26.3x28.8x1.7x
Sun, 01 Mar 2026₹20.0t₹10.2t₹598.9b31.3x33.4x2x
Tue, 27 Jan 2026₹19.6t₹10.1t₹643.2b27.8x30.5x1.9x
Thu, 25 Dec 2025₹20.4t₹10.1t₹643.1b32.8x31.8x2x
Sat, 22 Nov 2025₹20.2t₹10.1t₹643.1b33.2x31.4x2x
Mon, 20 Oct 2025₹20.5t₹10.0t₹717.8b34.5x28.6x2.1x
Wed, 17 Sep 2025₹21.3t₹10.0t₹717.7b33.7x29.7x2.1x
Fri, 15 Aug 2025₹18.6t₹10.0t₹717.6b30.2x25.9x1.9x
Sun, 13 Jul 2025₹17.9t₹9.9t₹716.6b30.3x24.9x1.8x
Tue, 10 Jun 2025₹18.1t₹9.9t₹716.5b29.7x25.2x1.8x
Thu, 08 May 2025₹17.4t₹9.9t₹814.9b28.2x21.4x1.8x
Sat, 05 Apr 2025₹15.9t₹9.8t₹807.6b26.7x19.6x1.6x
Mon, 03 Mar 2025₹15.9t₹9.8t₹807.6b27.6x19.7x1.6x
Wed, 29 Jan 2025₹17.0t₹9.6t₹813.0b29.5x20.9x1.8x
Fri, 27 Dec 2024₹17.2t₹9.6t₹813.0b28x21.1x1.8x
Sun, 24 Nov 2024₹17.7t₹9.6t₹813.0b28.3x21.8x1.8x
Tue, 22 Oct 2024₹19.1t₹9.6t₹815.0b30.3x23.4x2x
Thu, 19 Sep 2024₹18.6t₹8.8t₹759.1b30.5x24.5x2.1x
Sat, 17 Aug 2024₹18.0t₹8.8t₹759.1b30.1x23.8x2x
Mon, 15 Jul 2024₹17.0t₹8.6t₹733.5b33.3x23.2x2x
Wed, 12 Jun 2024₹17.1t₹8.6t₹733.5b32.6x23.3x2x
Fri, 10 May 2024₹15.9t₹8.4t₹610.4b32.3x26x1.9x
Sun, 07 Apr 2024₹15.4t₹8.3t₹592.3b33x26x1.9x
Tue, 05 Mar 2024₹14.8t₹8.3t₹592.3b30.7x25x1.8x
Thu, 01 Feb 2024₹13.4t₹8.0t₹537.4b29.3x25x1.7x
Sat, 30 Dec 2023₹12.9t₹7.9t₹530.0b30.1x24.4x1.6x
Mon, 27 Nov 2023₹11.7t₹7.8t₹513.5b31.1x22.8x1.5x
Wed, 25 Oct 2023₹11.2t₹7.5t₹463.6b29.2x24.1x1.5x
Fri, 22 Sep 2023₹11.0t₹7.5t₹462.6b30.6x23.7x1.5x
Sun, 20 Aug 2023₹10.4t₹7.5t₹462.6b29x22.4x1.4x
Tue, 18 Jul 2023₹10.5t₹7.0t₹342.3b41.8x30.7x1.5x
Thu, 15 Jun 2023₹10.1t₹7.0t₹342.3b35.1x29.5x1.4x
Sat, 13 May 2023₹9.5t₹6.7t₹274.0b31.8x34.8x1.4x
Mon, 10 Apr 2023₹8.5t₹6.6t₹258.8b25.6x32.7x1.3x
Price to Earnings Ratio

32.7x


Total Market Cap: ₹8.5tTotal 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 28.8x 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 Market-2.14%
Consumer Discretionary-2.17%
Auto-3.02%
Motorcycle Manufacturers-2.25%
Automobile Manufacturers-3.59%
Industry PE
  • Investors are most optimistic about the Motorcycle Manufacturers industry, which is trading close to its 3-year average PE ratio of 36.1x.
    • Analysts are expecting annual earnings growth of 15.4%, which is lower than the prior year's growth of 28.9% per year.
  • Investors are most pessimistic about the Automobile Manufacturers industry, which is trading close to its 3-year average of 22.6x.
Forecasted Growth
  • Analysts are most optimistic on the Motorcycle Manufacturers industry, expecting annual earnings growth of 15% 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 10% 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
OLAELEC Ola Electric Mobility₹28.3418.8%
+₹19.8b		-47.6%PS4.8x
544563 Zelio E-Mobility₹347.354.2%
+₹295.0m		n/aPE35.3x
500500 Hindustan Motors₹12.764.5%
+₹114.8m		-47.3%PE74.9x

Latest News

500500
₹12.76
Hindustan Motors
7D
4.5%
1Y
-47.3%
532343
₹3,390.40
TVS Motor
7D
-4.3%
1Y
36.9%

532343: EV Expansion And Africa Re Entry Will Support Strong Long Term Prospects

Analysts have nudged their TVS Motor price target slightly higher from about ₹3,906 to around ₹3,961, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E that are broadly consistent with prior views. What's in the News The Board declared an interim dividend of ₹12 per share on 47,50,87,114 equity shares of ₹1 each, with a record date of 31 March 2026 and payment expected within 30 days of declaration, absorbing about ₹5,700m for FY26 (Board filing).
500570
₹303.25
Tata Motors Passenger Vehicles
7D
-4.7%
1Y
-53.6%

500570: Green Hydrogen Rollout And Core Business Focus Will Support Future Performance

Analysts have trimmed their price target for Tata Motors Passenger Vehicles slightly to ₹378 from ₹381.40, citing updated assumptions related to discount rates, revenue growth, profit margins and future P/E expectations. What's in the News Tata Motors Passenger Vehicles has scheduled an Analyst and Investor Day focused on the core passenger vehicle business, which may give you more detail on assumptions behind current earnings and valuation views (Key Developments).
M&M
₹3,011.70
Mahindra & Mahindra
7D
-3.7%
1Y
15.3%

M&M: Maharashtra Auto Hub Expansion Will Define Next Phase Of Upside Potential

Analysts have made a very small downward tweak to the price target on Mahindra & Mahindra to around ₹4,312, reflecting slightly adjusted assumptions on the discount rate, revenue growth, profit margin and future P/E. What's in the News Board meeting scheduled for May 5, 2026, to review audited standalone and consolidated financial results for the quarter and year ending March 31, 2026, consider a dividend on equity shares, and address matters related to the upcoming Annual General Meeting (Board Meeting).
MARUTI
₹12,631.00
Maruti Suzuki India
7D
-0.6%
1Y
8.1%

MARUTI: New Gujarat Capacity Expansion Will Support Long Term Export Upside

Analysts have trimmed their fair value estimate for Maruti Suzuki India from ₹17,484 to ₹17,235, citing slightly lower assumptions for revenue growth, profit margin and future P/E, along with a modest adjustment to the discount rate. What's in the News Maruti Suzuki plans a new manufacturing facility in Khoraj, Gujarat, with an investment of ₹3,50,000 million, targeting production of 1 million vehicles annually and around 12,000 potential jobs on a 1,750 acre site allotted by the Gujarat Industrial Development Corporation (Key Developments).
BAJAJ-AUTO
₹8,758.50
Bajaj Auto
7D
-3.2%
1Y
10.7%

BAJAJ-AUTO: Electric Three Wheeler Expansion Will Support Positive Long Term Outlook

Analysts have trimmed their price target for Bajaj Auto slightly, with fair value moving from about ₹10,183 to roughly ₹10,107 as small adjustments to discount rate, revenue growth, profit margin and future P/E assumptions feed into their models. What's in the News Bajaj Auto launched the Bajaj WEGO P9018, positioned as the largest electric three-wheeler with what is described as India's biggest battery and range, aimed at urban, semi-urban and rural use cases (Key Developments).
505200
₹6,647.35
Eicher Motors
7D
-4.9%
1Y
23.6%

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

Analysts have inched up their fair value estimate for Eicher Motors from ₹7,854.79 to ₹7,889.42, citing small calibration changes to the discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News Board meeting scheduled on Feb 10, 2026, to review and approve unaudited standalone and consolidated financial results for the quarter and period ended Dec 31, 2025 (company filing).
500182
₹5,013.40
Hero MotoCorp
7D
-5.2%
1Y
33.7%

500182: Interim Dividend And EV Investment Will Support Future Upside

Analysts have kept the price target for Hero MotoCorp steady at ₹7,500, citing only marginal adjustments in the discount rate, revenue growth, profit margin and assumed future P/E as the basis for maintaining this view. What's in the News The Board approved an interim dividend of INR 110 per equity share with a nominal value of INR 2 for the 2025-26 financial year, describing it as 5,500% on the face value.
OLAELEC
₹28.34
Ola Electric Mobility
7D
18.8%
1Y
-47.6%

OLAELEC: In-House Battery And Storage Subsidiary Will Drive Future Upside

The analyst price target for Ola Electric Mobility has been revised from ₹45.88 to ₹30.13, with analysts citing updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E as key drivers of the change. What's in the News Board meeting scheduled on Mar 18, 2026 to consider changing the objects and timing of IPO proceeds utilisation, including a proposed variation in how and when the funds are used.
544563
₹347.35
Zelio E-Mobility
7D
4.2%
1Y
n/a
HYUNDAI
₹1,711.50
Hyundai Motor India
7D
-9.2%
1Y
3.6%

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?