3 Exhaust Systems Maker, Largest Passenger Car Maker and Engine Cooling Systems Maker Stocks With a Strong Future Roadmap: Sharda Motor Industries, Maruti Suzuki and Banco Products (India)
- November 2, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
Sharda Motor Industries, Maruti Suzuki and Banco Products (India): ROE of 13.7% to 28.6% and FY22 to FY26 revenue CAGR of 11.1% to 20.1%. Prices as of 30 Oct 2026.
Quick Answer
The three exhaust, car maker and cooling part stocks to watch are Sharda Motor Industries, Maruti Suzuki and Banco Products (India). Their return on equity ranges from 13.7% to 28.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.1% to 20.1%. Banco Products (India) has the highest return on equity at 28.6%, while Maruti Suzuki has the fastest revenue growth at 20.1% a year. Prices are based on the 30 October 2026 close, and this article is educational, not investment advice.
Exhaust, car maker and cooling part stocks bring together companies with a visible plan for the years ahead. Sharda Motor Industries, Maruti Suzuki and Banco Products (India) cover an exhaust systems maker, the largest passenger car maker and an engine cooling systems maker.
This list covers three exhaust, car maker and cooling part stocks with complete current figures: Sharda Motor Industries, Maruti Suzuki and Banco Products (India). Every figure comes from the latest reported financials and the 30 October 2026 market close. Companies without complete current figures were left out.
Click Here – Get Free Investment Predictions
What Are Exhaust, Car Maker and Cooling Part Stocks?
Exhaust, car maker and cooling part stocks are listed companies that make exhaust systems and catalytic converters, sell hatchbacks, sedans and utility vehicles through a vast network, and produce radiators, heat exchangers and gaskets. Their earnings depend on vehicle output, new launches and input costs.
Exhaust, Car Maker and Cooling Part Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Sharda Motor Industries | 808.2 | 4,995 | 15.0 | 36.9 | 26.3 | 0.04 |
| Maruti Suzuki | 11,397 | 353,984 | 24.7 | 23.4 | 13.7 | 0.00 |
| Banco Products (India) | 573.7 | 8,345 | 16.9 | 35.2 | 28.6 | 0.36 |
On valuation, Sharda Motor Industries and Banco Products (India) trade at a P/E below the industry P/E, while Maruti Suzuki trades above it, which reflects the growth the market already expects. Readers comparing exhaust, car maker and cooling part stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in exhaust, car maker and cooling part stocks can use the coming numbers to test whether growth is holding.
Why Do Exhaust, Car Maker and Cooling Part Stocks Have a Strong Roadmap in India?
Exhaust, car maker and cooling part stocks have a strong roadmap in India because rising vehicle production, stricter emission norms and steady replacement demand keep widening the market for these vehicle and part makers.
- Vehicle output. Steady volumes support supplier orders.
- Emission norms. Cleaner exhaust parts see more use.
- Cooling parts. Engines and batteries need thermal parts.
Why Sharda Motor Industries Features Among These Exhaust, Car Maker and Cooling Part Stocks
Among the exhaust, car maker and cooling part stocks on this list, Sharda Motor Industries makes exhaust systems and catalytic converters, with large passenger vehicle makers among its main customers.
Revenue rose from Rs 2,285 crore in FY22 to Rs 3,483 crore in FY26, a compound annual growth rate of 11.1%. Net profit grew from Rs 149 crore in FY22 to Rs 345 crore in FY26, which works out to a compound annual growth rate of 23.3%.
In the June 2026 quarter, revenue grew 33.2% year on year to Rs 1,038 crore. The company has a return on equity of 26.3%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 4,995 crore. The stock trades at a P/E of 15.0, below the industry P/E of 36.9.
Roadmap: Tighter emission norms increase the content per vehicle for exhaust systems and catalysts. The company is adding capacity in line with its customers’ production plans and expanding into new product lines, which broadens its revenue base.
What to watch: Follow volume trends at its key customers and precious metal price movements.
Why Maruti Suzuki Features Among These Exhaust, Car Maker and Cooling Part Stocks
Among the car and component shares on this list, Maruti Suzuki is India’s largest passenger car maker, selling a wide range of hatchbacks, sedans and utility vehicles through a vast sales and service network, and it also exports cars to many countries.
In the June 2026 quarter, revenue grew 34.2% year on year to Rs 54,344 crore. Revenue rose from Rs 90,074 crore in FY22 to Rs 187,673 crore in FY26, a compound annual growth rate of 20.1%.
Net profit grew from Rs 3,880 crore in FY22 to Rs 14,680 crore in FY26, which works out to a compound annual growth rate of 39.5%. The company has a return on equity of 13.7%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 353,984 crore. The stock trades at a P/E of 24.7, above the industry P/E of 23.4.
Roadmap: The company is widening its utility vehicle range, adding hybrid and electric models and growing its exports from new capacity. A trusted brand and wide service reach support demand among first-time and repeat buyers.
What to watch: Follow monthly sales, utility vehicle mix, export volumes and progress on electric models.
Why Banco Products (India) Features Among These Exhaust, Car Maker and Cooling Part Stocks
Among the three companies on this list, Banco Products (India) is a Vadodara-based maker of engine cooling systems, radiators, heat exchangers, gaskets and sealing products for vehicle makers, industrial customers and the aftermarket.
The company has a return on equity of 28.6%, a debt to equity ratio of 0.36 and a market capitalisation of Rs 8,345 crore. The stock trades at a P/E of 16.9, below the industry P/E of 35.2.
Revenue rose from Rs 1,963 crore in FY22 to Rs 3,995 crore in FY26, a compound annual growth rate of 19.4%. Net profit grew from Rs 152 crore in FY22 to Rs 482 crore in FY26, which works out to a compound annual growth rate of 33.3%. In the June 2026 quarter, revenue grew 20.9% year on year to Rs 1,190 crore, while net profit rose 11.7% to Rs 122 crore.
Roadmap: The company is growing its cooling systems range for commercial vehicles, off-highway machines and industrial uses and is widening its presence in overseas markets. Aftermarket sales add steady demand beyond new vehicle production.
What to watch: Monitor vehicle production trends, export orders and raw material costs.
Sharda Motor Industries vs Maruti Suzuki vs Banco Products (India) on Key Financials
The table below sets the three exhaust, car maker and cooling part stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Sharda Motor Industries | 2,285 | 3,483 | 11.1% | 345 | 9.9% |
| Maruti Suzuki | 90,074 | 187,673 | 20.1% | 14,680 | 7.8% |
| Banco Products (India) | 1,963 | 3,995 | 19.4% | 482 | 12.1% |
Banco Products (India) posts the highest return on equity in this group at 28.6%. Maruti Suzuki combines the largest FY26 revenue at Rs 187,673 crore with the fastest revenue growth, a 20.1% compound annual rate. A useful habit with exhaust, car maker and cooling part stocks is to check each new quarterly result against the capacity plans the company described earlier. Many investors spread money across several vehicle and part supplier stocks instead of one name, which keeps a single result from deciding the outcome.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Sharda Motor Industries | 779 | 1,038 | 33.2% |
| Maruti Suzuki | 40,493 | 54,344 | 34.2% |
| Banco Products (India) | 984 | 1,190 | 20.9% |
Key Risks to Check Before Investing in Exhaust, Car Maker and Cooling Part Stocks
Every theme carries risks that deserve a check before any decision. For these exhaust, car maker and cooling part stocks, the main points are: Long-term car and component shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Production cycles. Vehicle output can vary with demand.
- Input costs. Metal and material prices can move margins.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter exhaust, car maker and cooling part stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Exhaust, Car Maker and Cooling Part Stocks
Exhaust, car maker and cooling part stocks suit investors who prefer to study business strength before price moves. Sharda Motor Industries, Maruti Suzuki and Banco Products (India) each have a clear plan to grow. Based on the 30 October 2026 close, Sharda Motor Industries trades at Rs 808.2, Maruti Suzuki at Rs 11,397 and Banco Products (India) at Rs 573.7. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these exhaust, car maker and cooling part stocks to a watchlist.
Download the Univest iOS App or Univest Android App to track exhaust, car maker and cooling part stocks, set price alerts and get research-backed stock ideas.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are exhaust, car maker and cooling part stocks?
Ans. Exhaust, car maker and cooling part stocks are listed companies that make exhaust systems and catalytic converters, sell hatchbacks, sedans and utility vehicles through a vast network, and produce radiators, heat exchangers and gaskets. Their earnings depend on vehicle output, new launches and input costs. This list looks at three of them, Sharda Motor Industries, Maruti Suzuki and Banco Products (India), using reported FY22 to FY26 financials and the 30 October 2026 closing prices.
Which exhaust, car maker and cooling part stocks are covered in this list?
Ans. This list covers Sharda Motor Industries, Maruti Suzuki and Banco Products (India). Based on the 30 October 2026 close, Sharda Motor Industries traded at Rs 808.2, Maruti Suzuki at Rs 11,397 and Banco Products (India) at Rs 573.7. Their return on equity ranges from 13.7% to 28.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.1% to 20.1%.
Why do exhaust, car maker and cooling part stocks have a strong future roadmap in India?
Ans. Exhaust, car maker and cooling part stocks have a strong roadmap in India because rising vehicle production, stricter emission norms and steady replacement demand keep widening the market for these vehicle and part makers. The main drivers are as follows. Vehicle output. Steady volumes support supplier orders. Emission norms. Cleaner exhaust parts see more use. Cooling parts. Engines and batteries need thermal parts. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Sharda Motor Industries performed financially?
Ans. Revenue rose from Rs 2,285 crore in FY22 to Rs 3,483 crore in FY26, a compound annual growth rate of 11.1%. Net profit grew from Rs 149 crore in FY22 to Rs 345 crore in FY26, which works out to a compound annual growth rate of 23.3%. In the June 2026 quarter, revenue grew 33.2% year on year to Rs 1,038 crore. The company has a return on equity of 26.3%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 4,995 crore. The stock trades at a P/E of 15.0, below the industry P/E of 36.9. Looking ahead, tighter emission norms increase the content per vehicle for exhaust systems and catalysts. The company is adding capacity in line with its customers’ production plans and expanding into new product lines, which broadens its revenue base.
How has Maruti Suzuki performed financially?
Ans. Revenue rose from Rs 90,074 crore in FY22 to Rs 187,673 crore in FY26, a compound annual growth rate of 20.1%. Net profit grew from Rs 3,880 crore in FY22 to Rs 14,680 crore in FY26, which works out to a compound annual growth rate of 39.5%. In the June 2026 quarter, revenue grew 34.2% year on year to Rs 54,344 crore. The company has a return on equity of 13.7%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 353,984 crore. The stock trades at a P/E of 24.7, above the industry P/E of 23.4. Looking ahead, the company is widening its utility vehicle range, adding hybrid and electric models and growing its exports from new capacity. A trusted brand and wide service reach support demand among first-time and repeat buyers.
How has Banco Products (India) performed financially?
Ans. Revenue rose from Rs 1,963 crore in FY22 to Rs 3,995 crore in FY26, a compound annual growth rate of 19.4%. Net profit grew from Rs 152 crore in FY22 to Rs 482 crore in FY26, which works out to a compound annual growth rate of 33.3%. In the June 2026 quarter, revenue grew 20.9% year on year to Rs 1,190 crore, while net profit rose 11.7% to Rs 122 crore. The company has a return on equity of 28.6%, a debt to equity ratio of 0.36 and a market capitalisation of Rs 8,345 crore. The stock trades at a P/E of 16.9, below the industry P/E of 35.2. Looking ahead, the company is growing its cooling systems range for commercial vehicles, off-highway machines and industrial uses and is widening its presence in overseas markets. Aftermarket sales add steady demand beyond new vehicle production.
What risks should investors check before buying exhaust, car maker and cooling part stocks?
Ans. Investors should check a few risks before buying exhaust, car maker and cooling part stocks. Production cycles. Vehicle output can vary with demand. Input costs. Metal and material prices can move margins. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of exhaust, car maker and cooling part stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 30 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.