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Today's prices ask more of Tata Motors than of Maruti Suzuki.
At current prices, buyers of Maruti Suzuki are assuming about 2% growth against 19% in its own record; for Tata Motors it is 15% against 8%. That shows which share needs more to go right — not which is cheaper. How far each trades from its estimated fair value is in the full valuations.
- Valuation method: both on discounted cash flow.
- Size: Maruti Suzuki is worth about 2.5 times Tata Motors on the stock market.
- Record: Tata Motors' filed history in the data used here is too short to compare year by year, so only Maruti Suzuki's record is summarised: revenue went from FY2019 to FY2026 at about 11% a year.
- What to watch: suv share at Maruti Suzuki; truck cycle at Tata Motors.
| Maruti Suzuki | Tata Motors | |
|---|---|---|
| Price | ₹12,854 | ₹434 |
| Market cap | ₹4.04L Cr | ₹1.60L Cr |
| P/E | 30.0 | 25.3 |
| P/B | 3.77 | 12.55 |
| Fair value 🔒 sign in | ₹0,000 | ₹0,000 |
| Upside 🔒 sign in | +00% | +00% |
| Valued on | Discounted cash flow | Discounted cash flow |
01Two businesses
India's carmaker
Maruti Suzuki India is the country's largest carmaker and is majority-owned by Japan's Suzuki Motor Corporation. Its range runs from hatchbacks such as the Alto, Wagon R and Swift to SUVs such as the Brezza, Grand Vitara and Fronx, sold through India's largest dealer and service network.
India's largest commercial-vehicle maker
The listed company now called Tata Motors is the commercial-vehicle business demerged in 2025 from the old Tata Motors. It is India's largest maker of trucks and buses, from small cargo vehicles such as the Ace to heavy trucks, and sells across South Asia, the Middle East and Africa.
02The records side by side
Tata Motors' filed history in the data used here is too short to compare year by year, so only Maruti Suzuki's record is summarised: revenue went from FY2019 to FY2026 at about 11% a year.
Full ten-year tables and charts are on each company's page: Maruti Suzuki · Tata Motors.
03What each price assumes
Work backwards from each share price and you can see what buyers are taking for granted — the rate each company must sustain to justify what it costs, against what its own record supports.
04What decides each one's value
- SUV shareMaruti was late to SUVs and lost share as the market shifted to them; its newer SUVs decide how much of that it wins back.
- Small-car demandThe September 2025 GST cut on small cars lowered prices for Maruti's core buyers — a test of how much demand was held back by price.
- Truck cycleFreight demand, infrastructure spending and interest rates drive sales.
- Market shareHolding its lead against Ashok Leyland, Eicher and Mahindra.
05What could go wrong
- The EV transitionRivals moved into electric cars earlier; a fast shift could cost Maruti share.
- CompetitionTata, Mahindra and Hyundai are all fighting for the same SUV buyers.
- Cyclical downturnsTruck sales can fall sharply.
- Acquisition riskA large overseas deal brings debt and integration challenges.
06Which is better value?
Sign in free to see which trades further below its worth
- ✓Both fair values per share — each on the method that fits the business
- ✓Every step of both workings — growth, margins and cost of capital, with sources
- ✓Bull, base and bear cases — for each company
- ✓Downloadable reports — the full write-up for each, yours to keep
08Questions people ask
Is Maruti Suzuki or Tata Motors better value?
That turns on how far each share trades from its estimated fair value. Both figures, with every step of the working, are in the full valuations, free to view once you sign in. On the public numbers, Maruti Suzuki trades at 30.0 times earnings and 3.77 times book value, and Tata Motors at 25.3 times earnings and 12.55 times book value — but multiples alone mislead when two businesses work differently, which is why each is valued on the method that fits it.
What is the difference between Maruti Suzuki and Tata Motors?
Maruti Suzuki India is the country's largest carmaker and is majority-owned by Japan's Suzuki Motor Corporation. The listed company now called Tata Motors is the commercial-vehicle business demerged in 2025 from the old Tata Motors.
Are Maruti Suzuki and Tata Motors valued the same way?
Yes — both on discounted cash flow, so their workings compare like for like.
What does today's price assume for Maruti Suzuki and Tata Motors?
Worked backwards from the share price, Maruti Suzuki needs about 2% growth and Tata Motors about 15% growth, against 19% and 8% in their own records.