Sector analysis · India

Auto sector earnings growth, Q1 FY27

The 20 largest Automobile and Auto Components companies by market cap at the end of Q1 FY27 (30 Jun 2026), compared with Q4 FY26.

The top 20 at Q1 FY27

Q1 FY27 vs Q4 FY26: combined net profit ₹21,805 cr (−20%), median EPS −4% (8 of 20 up), market-cap-weighted price +12%. 20 of 20 reported.

Quarter

Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27

Compared with

YoY QoQ

Weight is each company's share of the 20 companies' combined market cap. Contribution is the change in its owners' profit divided by their combined base profit, in percentage points, so the column adds up to the sector's earnings growth. EPS cannot be added across companies, which is why contributions use profit.

#	Company	Weight	EPS ₹, base → now	EPS growth	Contribution	Price
1	Maruti Suzuki India LimitedMARUTI	16.8%	116.38 → 109.63	−6%	−0.8 pp	+15%
2	M & MM&M	14.4%	37.53 → 43.86	+17%	+2.9 pp	+4%
3	Bajaj AutoBAJAJ-AUTO	10.3%	131.02 → 115.41	−12%	−1.6 pp	+11%
4	Eicher Motors LimitedEICHERMOT	7.3%	55.41 → 53.28	−4% one source	−0.2 pp	+7%
5	TVS Motor Company LimitedTVSMOTOR	6.2%	16.24 → 21.46	+32% one source	+0.9 pp	+3%
6	Samvardhana Motherson International LimitedMOTHERSON	5.9%	1.42 → 0.98	−31%	−1.7 pp	+41%
7	Hyundai Motor India LimitedHYUNDAI	5.8%	15.45 → 10.94	−29%	−1.3 pp	+7%
8	Tata Motors Passenger Vehicles LimitedTMPV	4.9%	15.70 → 2.10	−87% one source	−18.2 pp	+19%
9	BoschBOSCHLTD	4.4%	193.26 → 239.39	+24% one source	+0.5 pp	+39%
10	Bharat Forge LimitedBHARATFORG	3.9%	4.86 → −1.88	to loss one-off	−1.2 pp	+28%
11	Hero MotocorpHEROMOTOCO	3.6%	72.97 → 70.59	−3%	−0.2 pp	−5%
12	Schaeffler India LimitedSCHAEFFLER	2.5%	20.45 → 21.54	+5% one source	+0.1 pp	+9%
13	Uno MindaUNOMINDA	2.4%	5.64 → 5.12	−9% one source	−0.1 pp	+5%
14	Tube Investments of India LimitedTIINDIA	2.2%	4.41 → 8.71	+98%	+0.3 pp	+20%
15	MRF LimitedMRF	2.0%	1,655.80 → 1,167.96	−29%	−0.7 pp	−1%
16	Ather Energy LimitedATHERENERG	1.6%	−2.62 → −1.33	loss, smaller	+0.2 pp	+51%
17	Balkrishna Industries LimitedBALKRISIND	1.6%	15.49 → 23.32	+51%	+0.5 pp	+5%
18	Sona BLW Precision Forgings LimitedSONACOMS	1.5%	3.00 → 2.90	−3% one source	0.0 pp	+29%
19	Endurance Technologies LimitedENDURANCE	1.4%	19.65 → 17.38	−12%	−0.1 pp	+21%
20	Exide Industries LimitedEXIDEIND	1.2%	2.53 → 4.12	+63%	+0.5 pp	+35%
	Sector earnings growth	100%			−20.2 pp

Who joined and who left

1 joined and 1 left the top 20 since Q4 FY26, as market caps moved.

Joined the top 20 since Q4 FY26 1

now #20 Exide Industries Limited EXIDEIND

Left the top 20 since Q4 FY26 1

was #20 Apollo Tyres Limited APOLLOTYRE

EPS growth by company, Q2 FY24 to Q1 FY27

Each company's EPS growth quarter on quarter, every quarter it was in the top 20.

≤ −40%−20%0+20%≥ +40% Blue is growth, red is decline, grey is about zero; the colour stops deepening at ±40%.

turned profitableto loss crossed zero, so there is no growth rate to print
loss, smallerloss, bigger a loss in both quarters
sources disagree our two sources disagree, so the figure is left out of the sector totals
outside not in the sector's top 20 that quarter

EPS growth of each company in the sector's top 20, by quarter
Company	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
MARUTI	+49%	−18%	+23%	−5%	−17%	+20%	+5%	−3%	−12%	+16%	−6%	−6%
M&M	−33%	+13%	+4%	+19%	−3%	0%	+4%	+24%	−10%	+27%	0%	+17%
BAJAJ-AUTO	+23%	+1%	0%	−3%	−29%	+58%	−18%	+23%	−4%	+29%	+33%	−12%
EICHERMOT	+11%	−2%	+7%	+3%	0%	+6%	+16%	−12%	+14%	+4%	+7%	−4%
TVSMOTOR	−11%	+24%	−19%	+19%	+22%	+1%	+15%	−6%	+30%	+6%	−8%	+32%
MOTHERSON	−66%	+165%	+155%	−27%	−15%	0%	+20%	−52%	+63%	+24%	+46%	−31%
HYUNDAI	outside	outside	outside	outside	outside	−16%	+39%	−15%	+15%	−21%	+2%	−29%
TMPV	+18%	+87%	+148%	sources disagree	sources disagree	sources disagree	sources disagree	sources disagree	+1,841%	to loss	turned profitable	−87%
BOSCHLTD	+144%	−48%	+9%	−17%	+15%	−15%	+21%	+102%	−50%	−4%	+7%	+24%
BHARATFORG	+2%	+16%	−11%	−14%	+20%	−15%	+33%	+1%	+6%	−12%	−12%	to loss
HEROMOTOCO	+42%	+9%	−14%	+12%	+2%	+4%	+5%	+47%	−23%	−3%	+15%	−3%
SCHAEFFLER	−1%	−7%	+5%	+11%	−3%	+1%	+6%	+12%	+4%	+7%	−3%	+5%
UNOMINDA	+31%	−14%	+50%	−31%	+23%	−5%	+15%	+9%	+4%	−9%	+18%	−9%
TIINDIA	+22%	+102%	−64%	+19%	−8%	−6%	−76%	+328%	−6%	−11%	−49%	+98%
MRF	0%	−13%	−22%	+44%	−18%	−33%	+62%	−2%	+5%	+32%	+2%	−29%
ATHERENERG	outside	outside	outside	outside	outside	outside	outside	outside	outside	outside	loss, bigger	loss, smaller
BALKRISIND	+5%	−12%	+59%	+1%	−29%	+30%	−18%	−22%	−5%	+40%	−22%	+51%
SONACOMS	+11%	+7%	+12%	−4%	−4%	+5%	+9%	−24%	outside	outside	+23%	−3%
ENDURANCE	outside	−1%	outside	−3%	0%	outside	+33%	−8%	0%	−2%	+25%	−12%
EXIDEIND	outside	outside	−8%	+19%	+5%	−32%	+20%	+46%	−37%	+13%	outside	+63%