Sector analysis · India
Auto sector earnings growth, Q3 FY24
The 20 largest Automobile and Auto Components companies by market cap at the end of Q3 FY24 (31 Dec 2023), compared with Q2 FY24.
The top 20 at Q3 FY24
Q3 FY24 vs Q2 FY24: combined net profit ₹21,622 cr (+17%), median EPS +2% (11 of 20 up), market-cap-weighted price +14%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Maruti Suzuki India Limited | 16.9% | 124.61 → 102.00 | −18% | −3.0 pp | −3% |
| 2 | Tata Motors Passenger Vehicles Limited | 14.9% | 11.33 → 21.14 | +87% | +17.7 pp | +24% |
| 3 | M & M | 11.2% | 18.88 → 21.38 | +13% | +1.7 pp | +11% |
| 4 | Bajaj Auto | 10.2% | 71.39 → 71.78 | +1% | +0.1 pp | +34% |
| 5 | Eicher Motors Limited | 5.9% | 37.12 → 36.38 | −2% | −0.1 pp | +20% |
| 6 | TVS Motor Company Limited | 5.0% | 8.13 → 10.08 | +24% | +0.5 pp | +33% |
| 7 | Hero Motocorp | 4.3% | 50.35 → 54.70 | +9% | +0.5 pp | +35% |
| 8 | Samvardhana Motherson International Limited | 3.6% | 0.20 → 0.53 | +165% | +1.8 pp | +6% |
| 9 | Tube Investments of India Limited | 3.6% | 13.62 → 27.46 | +102% | +1.5 pp | +19% |
| 10 | Bosch | 3.4% | 338.99 → 175.70 | −48% | −2.6 pp | +17% |
| 11 | Bharat Forge Limited | 3.0% | 4.88 → 5.68 | +16% | +0.2 pp | +13% |
| 12 | MRF Limited | 2.9% | 1,383.26 → 1,201.82 | −13% | −0.4 pp | +21% |
| 13 | Schaeffler India Limited | 2.6% | 15.03 → 13.91 | −7% | −0.1 pp | −3% |
| 14 | Balkrishna Industries Limited | 2.6% | 17.97 → 15.80 | −12% | −0.2 pp | 0% |
| 15 | Uno Minda | 2.1% | 3.93 → 3.37 | −14% | −0.2 pp | +15% |
| 16 | Sona BLW Precision Forgings Limited | 2.0% | 2.12 → 2.26 | +7% | 0.0 pp | +10% |
| 17 | ZF Commercial Vehicle Control Systems India Limited | 1.6% | 9.17 → 8.75 | −5% | 0.0 pp | +3% |
| 18 | Apollo Tyres Limited | 1.5% | 7.47 → 7.82 | +5% | +0.1 pp | +23% |
| 19 | Motherson Sumi Wiring India Limited | 1.4% | 0.24 → 0.25 | +4% | +0.1 pp | −4% |
| 20 | Endurance Technologies Limited | 1.4% | 10.99 → 10.83 | −1% | 0.0 pp | +21% |
| Sector earnings growth | 100% | +17.5 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q2 FY24, as market caps moved.
Joined the top 20 since Q2 FY24
Left the top 20 since Q2 FY24
- Sundram Fasteners Limited
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.
| 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% |
| TMPV | +18% | +87% | +148% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | +1,841% | to loss | turned profitable | −87% |
| 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% |
| HEROMOTOCO | +42% | +9% | −14% | +12% | +2% | +4% | +5% | +47% | −23% | −3% | +15% | −3% |
| MOTHERSON | −66% | +165% | +155% | −27% | −15% | 0% | +20% | −52% | +63% | +24% | +46% | −31% |
| TIINDIA | +22% | +102% | −64% | +19% | −8% | −6% | −76% | +328% | −6% | −11% | −49% | +98% |
| 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 |
| MRF | 0% | −13% | −22% | +44% | −18% | −33% | +62% | −2% | +5% | +32% | +2% | −29% |
| SCHAEFFLER | −1% | −7% | +5% | +11% | −3% | +1% | +6% | +12% | +4% | +7% | −3% | +5% |
| BALKRISIND | +5% | −12% | +59% | +1% | −29% | +30% | −18% | −22% | −5% | +40% | −22% | +51% |
| UNOMINDA | +31% | −14% | +50% | −31% | +23% | −5% | +15% | +9% | +4% | −9% | +18% | −9% |
| SONACOMS | +11% | +7% | +12% | −4% | −4% | +5% | +9% | −24% | outside | outside | +23% | −3% |
| ZFCVINDIA | +5% | −5% | +1% | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| APOLLOTYRE | +20% | +5% | −29% | −15% | −2% | +13% | −45% | −93% | +1,930% | +83% | +34% | outside |
| MSUMI | +26% | +4% | +16% | −24% | outside | outside | outside | outside | +14% | −8% | outside | outside |
| ENDURANCE | outside | −1% | outside | −3% | 0% | outside | +33% | −8% | 0% | −2% | +25% | −12% |