Maruti-Suzuki’s operating performance for 1QFY11 disappointed us. EBITDA margin was 10.4% (v/s our estimate of 12.1%), impacted by higher raw material cost and increase in royalty. Further, lower other income further impacted recurring PAT, which was Rs5.12b...

To read full research report you can bookmark this URL:
http://www.dsij.in/productattachment.../MarutiSuz.pdf

Source: Dalal Street Investment Journal
Dalal Street Investment Journal