Sector analysis · India
Auto sector earnings growth, Q2 FY24
The 20 largest Automobile and Auto Components companies by market cap at the end of Q2 FY24 (30 Sep 2023), compared with Q2 FY23.
The top 20 at Q2 FY24
Q2 FY24 vs Q2 FY23: combined net profit ₹18,381 cr (+73%), median EPS +33% (16 of 20 up), market-cap-weighted price +23%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Maruti Suzuki India Limited | 19.2% | 69.93 → 124.61 | +78% | +14.1 pp | +20% |
| 2 | Tata Motors Passenger Vehicles Limited | 13.8% | −2.84 → 11.33 | turned profitable | +40.1 pp | +56% |
| 3 | M & M | 11.6% | 22.30 → 18.88 | −15% | −3.6 pp | +23% |
| 4 | Bajaj Auto | 8.7% | 60.61 → 71.39 | +18% | +2.6 pp | +44% |
| 5 | Eicher Motors Limited | 5.6% | 24.02 → 37.12 | +55% | +3.1 pp | −6% |
| 6 | TVS Motor Company Limited | 4.3% | 8.13 → 8.13 | 0% | 0.0 pp | +47% |
| 7 | Samvardhana Motherson International Limited | 3.9% | 0.24 → 0.20 | −17% one-off | −0.4 pp | −12% |
| 8 | Hero Motocorp | 3.7% | 34.45 → 50.35 | +46% | +2.7 pp | +20% |
| 9 | Tube Investments of India Limited | 3.5% | 10.92 → 13.62 | +25% | +0.4 pp | +9% |
| 10 | Bosch | 3.4% | 126.67 → 338.99 | +168% one-off | +5.3 pp | +20% |
| 11 | Schaeffler India Limited | 3.1% | 13.78 → 15.03 | +9% | +0.2 pp | +3% |
| 12 | Bharat Forge Limited | 3.0% | 3.13 → 4.88 | +56% | +0.7 pp | +57% |
| 13 | Balkrishna Industries Limited | 3.0% | 19.77 → 17.97 | −9% | −0.3 pp | +36% |
| 14 | MRF Limited | 2.7% | 306.19 → 1,383.26 | +352% | +3.9 pp | +31% |
| 15 | Uno Minda | 2.1% | 2.97 → 3.93 | +32% | +0.5 pp | +7% |
| 16 | Sona BLW Precision Forgings Limited | 2.0% | 1.58 → 2.12 | +34% | +0.3 pp | +26% |
| 17 | ZF Commercial Vehicle Control Systems India Limited | 1.8% | 6.03 → 9.17 | +52% | +0.3 pp | +56% |
| 18 | Motherson Sumi Wiring India Limited | 1.7% | 0.18 → 0.24 | +33% | +0.3 pp | −26% |
| 19 | Sundram Fasteners Limited | 1.6% | 5.49 → 6.28 | +14% | +0.1 pp | +39% |
| 20 | Apollo Tyres Limited | 1.4% | 3.06 → 7.47 | +144% | +2.4 pp | +32% |
| Sector earnings growth | 100% | +72.6 pp |
Who joined and who left
0 joined and 0 left the top 20 since the previous quarter, as market caps moved.
Joined the top 20 since the previous quarter
Left the top 20 since the previous quarter
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth year on year, 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 | +78% | +29% | +42% | +43% | −21% | +16% | −1% | +1% | +8% | +4% | −6% | −9% |
| TMPV | turned profitable | +137% | +222% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | −80% |
| M&M | −15% | −1% | +4% | −6% | +35% | +20% | +20% | +24% | +16% | +47% | +42% | +34% |
| BAJAJ-AUTO | +18% | +38% | +20% | +20% | −31% | +10% | −10% | +14% | +53% | +25% | +103% | +46% |
| EICHERMOT | +55% | +34% | +18% | +20% | +8% | +17% | +27% | +9% | +24% | +21% | +12% | +21% |
| TVSMOTOR | 0% | +59% | +15% | +6% | +45% | +18% | +67% | +32% | +42% | +49% | +19% | +67% |
| MOTHERSON | −17% | +18% | +111% | +66% | +315% | +57% | −26% | −51% | −6% | +17% | +42% | +104% |
| HEROMOTOCO | +46% | +51% | +15% | +47% | +6% | +1% | +24% | +63% | +23% | +14% | +26% | −17% |
| TIINDIA | +25% | +125% | −39% | +5% | −22% | −64% | −76% | −12% | −10% | −14% | +84% | −15% |
| BOSCHLTD | +168% | +62% | +42% | +14% | −46% | −11% | −2% | +139% | +3% | +16% | +3% | −37% |
| SCHAEFFLER | +9% | −6% | +4% | +7% | +5% | +15% | +17% | +17% | +24% | +32% | +20% | +14% |
| BHARATFORG | +56% | +221% | sources disagree | −9% | +7% | −22% | +16% | +36% | +20% | +24% | −18% | to loss |
| BALKRISIND | −9% | +182% | +87% | +48% | 0% | +47% | −24% | −41% | −21% | −15% | −19% | +56% |
| MRF | +352% | +192% | +26% | −3% | −20% | −38% | +29% | −12% | +12% | +119% | +37% | −1% |
| UNOMINDA | +32% | +19% | +58% | +15% | +9% | +20% | −8% | +46% | +23% | +18% | +22% | +1% |
| SONACOMS | +34% | +23% | +23% | +27% | +9% | +8% | +4% | −17% | outside | outside | +14% | +44% |
| ZFCVINDIA | +52% | +17% | 0% | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| MSUMI | +33% | +56% | +38% | +16% | outside | outside | outside | outside | +9% | +10% | outside | outside |
| SUNDRMFAST | +14% | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| APOLLOTYRE | +144% | +70% | −17% | −24% | −37% | −32% | −48% | −96% | −13% | +40% | +242% | outside |