Sector analysis · India
Auto sector earnings growth, Q4 FY24
The 20 largest Automobile and Auto Components companies by market cap at the end of Q4 FY24 (31 Mar 2024), compared with Q4 FY23.
The top 20 at Q4 FY24
Q4 FY24 vs Q4 FY23: combined net profit ₹33,258 cr (+86%), median EPS +20% (16 of 19 up), market-cap-weighted price +70%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Maruti Suzuki India Limited | 18.0% | 88.41 → 125.71 | +42% | +7.2 pp | +52% |
| 2 | Tata Motors Passenger Vehicles Limited | 16.5% | 16.28 → 52.37 | +222% | +67.5 pp | +136% |
| 3 | Bajaj Auto | 11.8% | 60.25 → 72.05 | +20% | +1.7 pp | +136% |
| 4 | M & M | 10.9% | 21.20 → 22.15 | +4% | +0.7 pp | +66% |
| 5 | Eicher Motors Limited | 5.0% | 33.11 → 39.10 | +18% | +0.9 pp | +36% |
| 6 | TVS Motor Company Limited | 4.7% | 7.07 → 8.15 | +15% | +0.3 pp | +100% |
| 7 | Hero Motocorp | 4.3% | 40.57 → 46.77 | +15% | +0.7 pp | +101% |
| 8 | Bosch | 4.0% | 134.64 → 191.23 | +42% | +0.9 pp | +55% |
| 9 | Samvardhana Motherson International Limited | 3.6% | 0.64 → 1.35 | +111% | +4.0 pp | +75% |
| 10 | Tube Investments of India Limited | 3.3% | 16.15 → 9.80 | −39% | −0.7 pp | +47% |
| 11 | MRF Limited | 2.6% | 739.26 → 933.97 | +26% | +0.5 pp | +59% |
| 12 | Bharat Forge Limited | 2.4% | — → 5.07 | sources disagree | — | +47% |
| 13 | Balkrishna Industries Limited | 2.0% | 13.44 → 25.18 | +87% | +1.3 pp | +19% |
| 14 | Schaeffler India Limited | 2.0% | 14.03 → 14.57 | +4% | 0.0 pp | −2% |
| 15 | Sona BLW Precision Forgings Limited | 1.9% | 2.05 → 2.53 | +23% | +0.2 pp | +71% |
| 16 | Uno Minda | 1.8% | 3.19 → 5.04 | +58% | +0.6 pp | +43% |
| 17 | Apollo Tyres Limited | 1.3% | 6.73 → 5.58 | −17% | −0.4 pp | +46% |
| 18 | Motherson Sumi Wiring India Limited | 1.3% | 0.21 → 0.29 | +38% | +0.3 pp | +37% |
| 19 | ZF Commercial Vehicle Control Systems India Limited | 1.3% | 8.89 → 8.88 | 0% | 0.0 pp | +46% |
| 20 | Exide Industries Limited | 1.2% | 2.12 → 2.17 | +2% | 0.0 pp | +71% |
| Sector earnings growth | 100% | +85.7 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q3 FY24, as market caps moved.
Joined the top 20 since Q3 FY24
Left the top 20 since Q3 FY24
- Endurance Technologies Limited
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% |
| BAJAJ-AUTO | +18% | +38% | +20% | +20% | −31% | +10% | −10% | +14% | +53% | +25% | +103% | +46% |
| M&M | −15% | −1% | +4% | −6% | +35% | +20% | +20% | +24% | +16% | +47% | +42% | +34% |
| 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% |
| HEROMOTOCO | +46% | +51% | +15% | +47% | +6% | +1% | +24% | +63% | +23% | +14% | +26% | −17% |
| BOSCHLTD | +168% | +62% | +42% | +14% | −46% | −11% | −2% | +139% | +3% | +16% | +3% | −37% |
| MOTHERSON | −17% | +18% | +111% | +66% | +315% | +57% | −26% | −51% | −6% | +17% | +42% | +104% |
| TIINDIA | +25% | +125% | −39% | +5% | −22% | −64% | −76% | −12% | −10% | −14% | +84% | −15% |
| MRF | +352% | +192% | +26% | −3% | −20% | −38% | +29% | −12% | +12% | +119% | +37% | −1% |
| 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% |
| SCHAEFFLER | +9% | −6% | +4% | +7% | +5% | +15% | +17% | +17% | +24% | +32% | +20% | +14% |
| SONACOMS | +34% | +23% | +23% | +27% | +9% | +8% | +4% | −17% | outside | outside | +14% | +44% |
| UNOMINDA | +32% | +19% | +58% | +15% | +9% | +20% | −8% | +46% | +23% | +18% | +22% | +1% |
| APOLLOTYRE | +144% | +70% | −17% | −24% | −37% | −32% | −48% | −96% | −13% | +40% | +242% | outside |
| MSUMI | +33% | +56% | +38% | +16% | outside | outside | outside | outside | +9% | +10% | outside | outside |
| ZFCVINDIA | +52% | +17% | 0% | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| EXIDEIND | outside | outside | +2% | −1% | −14% | −22% | +1% | +24% | −26% | +24% | outside | +28% |