Maruti Suzuki reported an all-time high profit figure, becoming the first passenger vehicle maker in India with an annual turnover of over Rs 1 lakh crore. However, the company's market share in the passenger vehicle segment slipped to 41% in FY23 from 51% in FY20, led by a demand shift to SUVs where it has a weaker presence. Most brokerages have maintained their bullish view on Maruti Suzuki's stock, with target prices going beyond the Rs 10,000 mark. However, Kotak analyst Rishi Vora has said that the company is expected to find it challenging to regain lost market share.
