Is Maruti Suzuki overvalued or undervalued?

As of 3 November 2025, Maruti Suzuki's valuation grade has moved from fair to attractive, indicating a more favorable assessment of the company's worth. The company is currently considered undervalued. Key ratios include a PE Ratio of 33.28, an EV to EBITDA of 22.38, and a Price to Book Value of 0.49, which suggests that the stock is trading at a reasonable price relative to its earnings and book value. In comparison with peers, Maruti Suzuki's PE Ratio is slightly higher than Mahindra & Mahindra's 32.11 but lower than Hyundai Motor's 34.51, while its EV to EBITDA is comparable to Hyundai's 21.01. Notably, Tata Motors PVeh presents a very attractive valuation with a PE of 7.1, highlighting Maruti's relatively higher valuation. The recent stock performance shows that Maruti has outperformed the Sensex over the year with a return of 40.79% compared to the Sensex's 5.34%, reinforcing the attractiveness of the current valuation.