Maruti Suzuki shares tumble 1% after Rs 2,966 crore draft tax assessment order for FY22

Maruti Suzuki shares tumbled 1% to their day’s low of Rs 11,774 on the BSE on Wednesday after the company received a draft assessment order from the Income Tax Authority for FY 2021-22, proposing additions and disallowances totaling Rs 2,966 crore to its reported income.

"The company has received a draft assessment order for FY 2021-22, wherein certain additions/disallowances amounting to Rs 29,660 million to the returned income (the income disclosed by the company in its tax return) have been proposed," Maruti Suzuki India said in an exchange filing.

Maruti Suzuki plans to file objections before the Dispute Resolution Panel (DRP) to contest the proposed additions. The company also clarified that the order will not impact its financial, operational, or business activities. The assessment order was received on March 24, 2025.


Also Read: Stocks in news: Maruti, ONGC, IREDA, Federal Bank, TVS Motor

Maruti Suzuki Q3 earnings

The company reported a 13% year-on-year (YoY) growth in standalone net profit to Rs 3,525 crore, while revenue from operations rose 16% YoY to Rs 38,492 crore. EBITDA for the third quarter stood at Rs 4,470 crore, up 14% YoY, though margins declined slightly to 11.6%.

Also Read: Bitcoin and the psychology of wealth: Robert Kiyosaki on why most people stay poor

Maruti Suzuki shares target price

As per Trendlyne data, the average target price of the stock is Rs 14,012, which shows an upside of 18% from the current market prices. The consensus recommendation from 40 analysts for the stock is a 'Buy'.

Technically, the stock's relative strength index (RSI) is at 48.2, indicating that it is neither in oversold nor overbought territory. Additionally, the MACD stands at -164.8, below its center line, signaling a bearish trend.

The stock is trading above its 5-day, 10-day, 20-day, and 100-day simple moving averages (SMAs) but remains below the 30-day, 50-day, 150-day, and 200-day SMAs.

Maruti Suzuki shares performance

On Tuesday, Maruti Suzuki shares closed at Rs 11,897.3, down 0.2% on the BSE, while the benchmark Sensex gained 0.04%. The stock has declined 7% in the past six months but surged 44% over the last two years. The company’s market capitalization stands at Rs 3,74,054 crore.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)