A comparative study of earnings per share of select Indian automobile companies

A company’s profitability and financial performance is evaluated by Earnings Per Share (EPS) which is one of the most important indicators used by investors and analysts. This study aims to analyze and compare the Earnings Per Share performance of select Indian automobile companies over an eight-year period from 2017–18 to 2024–25. The companies selected for the study are Tata Motors, Maruti Suzuki India, Mahindra & Mahindra, and Ashok Leyland. The study is based on secondary data collected from published annual reports. Various statistical tools such as descriptive statistics, ANOVA, Levene’s test, Tukey post-hoc test, year-on-year (YOY) growth, compound annual growth rate (CAGR), coefficient of variation, paired t-test, correlation analysis are applied. The results disclose significant differences in EPS performance among the companies. Maruti Suzuki India appeared as the strongest performer with constantly high EPS, while Tata Motors showed strong long-term growth but high volatility. Mahindra & Mahindra exhibited stable earnings growth, whereas Ashok Leyland showed gradual recovery after financial stress. The study concludes that EPS performance varies significantly due to differences in market conditions, operational efficiency and financial stability.