Cyclical volumes tied to the household income cycle, where the return on each new plant — and, for the parts makers, each new platform win — decides the value.
Current price and the usual multiples, with the valuation method the engine applies to each business. Listed alphabetically by sector position, not ranked — the gap between price and modelled value is on each company's own page, where the working that produced it can be read alongside it.
| Company | Price | P/E | P/B | ROE % | Valued on |
|---|---|---|---|---|---|
| MARUTI SUZUKI INDIA | ₹12,231 | 26.8 | 3.59 | — | Discounted cash flow |
| Mahindra and Mahindra | ₹3,030 | 18.3 | 3.64 | — | Estimate withheld — model and market disagree too far |
| Bajaj Auto | ₹11,424 | 27.1 | 8.22 | — | Discounted cash flow |
| Tata Motors | ₹427 | 37.6 | 12.36 | — | Discounted cash flow |
| EICHER MOTORS | ₹7,452 | 35.4 | 8.15 | — | Discounted cash flow |
| TVS Motor Company | ₹4,050 | 56.1 | 20.12 | — | Discounted cash flow |
| HERO MOTOCORP | ₹5,166 | 19.0 | 4.78 | — | Discounted cash flow |
| Hyundai Motor India | ₹2,140 | 46.8 | 8.69 | — | Discounted cash flow |
| BOSCH | ₹47,070 | 58.8 | 9.35 | — | Estimate withheld — model and market disagree too far |
| SAMVARDHANA MOTHERSON INTERNATIONAL | ₹158 | 38.1 | 4.07 | — | Discounted cash flow |
| ASHOK LEYLAND | ₹157 | 26.5 | 6.46 | — | Estimate withheld — model and market disagree too far |
| BHARAT FORGE | ₹1,877 | 127.1 | 9.39 | — | Estimate withheld — model and market disagree too far |
| MRF | ₹1,25,795 | 22.1 | 2.54 | — | Discounted cash flow |
| UNO MINDA | ₹1,160 | 55.7 | 9.81 | — | Discounted cash flow |
| Schaeffler India | ₹3,916 | 48.8 | 10.12 | — | Discounted cash flow |
| TUBE INVESTMENTS OF INDIA | ₹2,525 | 80.6 | 6.31 | — | Discounted cash flow |
| BALKRISHNA INDUSTRIES | ₹2,129 | 46.9 | 3.76 | — | Discounted cash flow |
| SONA BLW PRECISION FORGINGS | ₹790 | 71.6 | 8.21 | — | Discounted cash flow |
| Endurance Technologies | ₹2,615 | 37.9 | 5.38 | — | Discounted cash flow |
A sector is not one kind of business, and the method has to follow the economics rather than the label. Across the 19 here: