3 Motorcycle and Three-Wheeler Exporter, Royal Enfield Maker and Largest Passenger Car Company Stocks With a Strong Future Roadmap: Bajaj Auto, Eicher Motors and Maruti Suzuki
- October 26, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Bajaj Auto, Eicher Motors and Maruti Suzuki: ROE of 13.7% to 27.7% and FY22 to FY26 revenue CAGR of 17.3% to 23.4%. Prices as of 23 Oct 2026.
Quick Answer
The three motorcycle and passenger car maker stocks to watch are Bajaj Auto, Eicher Motors and Maruti Suzuki. Their return on equity ranges from 13.7% to 27.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 17.3% to 23.4%. Bajaj Auto has the highest return on equity at 27.7%, while Eicher Motors has the fastest revenue growth at 23.4% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.
Motorcycle and passenger car maker stocks let investors follow companies that serve a growing part of the Indian economy. Bajaj Auto, Eicher Motors and Maruti Suzuki cover a motorcycle and three-wheeler exporter, the Royal Enfield maker and the largest passenger car company.
This list covers three motorcycle and passenger car maker stocks with complete current figures: Bajaj Auto, Eicher Motors and Maruti Suzuki. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.
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What Are Motorcycle and Passenger Car Maker Stocks?
Motorcycle and passenger car maker stocks are listed vehicle makers that sell motorcycles, three-wheelers and passenger cars in India and overseas. Their earnings depend on vehicle volumes, model mix, exports and input costs.
Motorcycle and Passenger Car Maker Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Bajaj Auto | 10,072 | 277,002 | 24.0 | 23.4 | 27.7 | 0.58 |
| Eicher Motors | 7,066 | 193,538 | 33.5 | 23.4 | 22.0 | 0.02 |
| Maruti Suzuki | 11,230 | 353,984 | 24.7 | 23.4 | 13.7 | 0.00 |
On valuation, all three trade at a P/E above their industry P/E, which reflects the growth the market already expects from them. Readers comparing motorcycle and passenger car maker stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Motorcycle and Passenger Car Maker Stocks Have a Strong Roadmap in India?
Motorcycle and passenger car maker stocks have a strong roadmap in India because rising incomes, new model launches, electric and hybrid options and growing exports keep lifting demand for personal mobility.
- Premium models. Buyers upgrade to higher-priced vehicles.
- Export markets. Overseas buyers add steady orders.
- New powertrains. Hybrid and electric models open another growth lane.
Why Bajaj Auto Features Among These Motorcycle and Passenger Car Maker Stocks
Among the motorcycle and passenger car maker stocks on this list, Bajaj Auto makes motorcycles, three-wheelers and electric vehicles, and it sells a large share of its output to export markets across Africa, Latin America and Asia.
Revenue rose from Rs 34,429 crore in FY22 to Rs 65,087 crore in FY26, a compound annual growth rate of 17.3%. Net profit grew from Rs 6,166 crore in FY22 to Rs 10,574 crore in FY26, which works out to a compound annual growth rate of 14.4%.
The company has a return on equity of 27.7%, a debt to equity ratio of 0.58 and a market capitalisation of Rs 277,002 crore. The stock trades at a P/E of 24.0, above the industry P/E of 23.4.
Roadmap: The company is growing its premium motorcycle and electric three-wheeler ranges and widening its export reach. A strong presence in commercial three-wheelers adds steady demand.
What to watch: Follow export volumes, premium motorcycle mix and electric vehicle growth.
Why Eicher Motors Features Among These Motorcycle and Passenger Car Maker Stocks
Among the premium motorcycle maker shares on this list, Eicher Motors makes Royal Enfield motorcycles and, through a joint venture, commercial vehicles, and it sells mid-size motorcycles in India and in a growing list of overseas markets.
The company has a return on equity of 22.0%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 193,538 crore. The stock trades at a P/E of 33.5, above the industry P/E of 23.4.
Revenue rose from Rs 10,739 crore in FY22 to Rs 24,894 crore in FY26, a compound annual growth rate of 23.4%. Net profit grew from Rs 1,677 crore in FY22 to Rs 5,515 crore in FY26, which works out to a compound annual growth rate of 34.7%. In the June 2026 quarter, revenue grew 29.4% year on year to Rs 7,099 crore, while net profit rose 21.3% to Rs 1,463 crore.
Roadmap: The company is launching new models, expanding its dealer and export network and entering electric motorcycles. A strong brand with loyal riders supports pricing and repeat demand.
What to watch: Follow new launches, export growth and the pace of electric and adventure model rollouts.
Why Maruti Suzuki Features Among These Motorcycle and Passenger Car Maker Stocks
Among the three companies 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.
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.
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.
Bajaj Auto vs Eicher Motors vs Maruti Suzuki on Key Financials
The table below sets the three motorcycle and passenger car maker 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 |
|---|---|---|---|---|---|
| Bajaj Auto | 34,429 | 65,087 | 17.3% | 10,574 | 16.2% |
| Eicher Motors | 10,739 | 24,894 | 23.4% | 5,515 | 22.2% |
| Maruti Suzuki | 90,074 | 187,673 | 20.1% | 14,680 | 7.8% |
Bajaj Auto posts the highest return on equity in this group at 27.7%. Maruti Suzuki has the largest FY26 revenue at Rs 187,673 crore, and Eicher Motors shows the fastest revenue growth with a 23.4% compound annual rate. A useful habit with motorcycle and passenger car maker stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Motorcycle and Passenger Car Maker Stocks
Every theme carries risks that deserve a check before any decision. For these motorcycle and passenger car maker stocks, the main points are:
- Vehicle cycle. Demand can slow with interest rates or fuel prices.
- Input costs. Steel, aluminium and electronics prices influence margins.
- Competition. Many brands compete in each segment.
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 motorcycle and passenger car maker stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Motorcycle and Passenger Car Maker Stocks
Motorcycle and passenger car maker stocks reward investors who follow demand trends, order books and margins together. Bajaj Auto, Eicher Motors and Maruti Suzuki each have a clear plan to widen their vehicle range. Based on the 23 October 2026 close, Bajaj Auto trades at Rs 10,072, Eicher Motors at Rs 7,066 and Maruti Suzuki at Rs 11,230.
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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 motorcycle and passenger car maker stocks?
Ans. Motorcycle and passenger car maker stocks are listed vehicle makers that sell motorcycles, three-wheelers and passenger cars in India and overseas. Their earnings depend on vehicle volumes, model mix, exports and input costs. This list looks at three of them, Bajaj Auto, Eicher Motors and Maruti Suzuki, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.
Which motorcycle and passenger car maker stocks are covered in this list?
Ans. This list covers Bajaj Auto, Eicher Motors and Maruti Suzuki. Based on the 23 October 2026 close, Bajaj Auto traded at Rs 10,072, Eicher Motors at Rs 7,066 and Maruti Suzuki at Rs 11,230. Their return on equity ranges from 13.7% to 27.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 17.3% to 23.4%.
Why do motorcycle and passenger car maker stocks have a strong future roadmap in India?
Ans. Motorcycle and passenger car maker stocks have a strong roadmap in India because rising incomes, new model launches, electric and hybrid options and growing exports keep lifting demand for personal mobility. The main drivers are as follows. Premium models. Buyers upgrade to higher-priced vehicles. Export markets. Overseas buyers add steady orders. New powertrains. Hybrid and electric models open another growth lane. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Bajaj Auto performed financially?
Ans. Revenue rose from Rs 34,429 crore in FY22 to Rs 65,087 crore in FY26, a compound annual growth rate of 17.3%. Net profit grew from Rs 6,166 crore in FY22 to Rs 10,574 crore in FY26, which works out to a compound annual growth rate of 14.4%. The company has a return on equity of 27.7%, a debt to equity ratio of 0.58 and a market capitalisation of Rs 277,002 crore. The stock trades at a P/E of 24.0, above the industry P/E of 23.4. Looking ahead, the company is growing its premium motorcycle and electric three-wheeler ranges and widening its export reach. A strong presence in commercial three-wheelers adds steady demand.
How has Eicher Motors performed financially?
Ans. Revenue rose from Rs 10,739 crore in FY22 to Rs 24,894 crore in FY26, a compound annual growth rate of 23.4%. Net profit grew from Rs 1,677 crore in FY22 to Rs 5,515 crore in FY26, which works out to a compound annual growth rate of 34.7%. In the June 2026 quarter, revenue grew 29.4% year on year to Rs 7,099 crore, while net profit rose 21.3% to Rs 1,463 crore. The company has a return on equity of 22.0%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 193,538 crore. The stock trades at a P/E of 33.5, above the industry P/E of 23.4. Looking ahead, the company is launching new models, expanding its dealer and export network and entering electric motorcycles. A strong brand with loyal riders supports pricing and repeat demand.
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.
What risks should investors check before buying motorcycle and passenger car maker stocks?
Ans. Investors should check a few risks before buying motorcycle and passenger car maker stocks. Vehicle cycle. Demand can slow with interest rates or fuel prices. Input costs. Steel, aluminium and electronics prices influence margins. Competition. Many brands compete in each segment. 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 motorcycle and passenger car maker stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 23 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.
