MRF Ltd logo

MRF Ltd

MRF NSE

Madras Rubber Factory Limited (MRF) is the parent company of the MRF Group. The Co is engaged in the business of manufacturing tyres[1]

AI Verdict: HOLD Confidence: 5%

MRF Ltd trades at a PE of 22.7x with strong recent profit growth of 32% TTM, but carries a sell-heavy analyst consensus (50% sell) and a low 3-year ROE of 12%. The stock's 1-year return of -4% and zero dividend yield limit near-term appeal despite solid long-term compounding at 15% CAGR over 10 years.

Key Fundamentals

MidcapTyresAutomobiles
Market Cap
₹55,510 Cr
Volatility
Moderate
P/E Ratio
22.68
EBITDA
₹4,837 Cr
Return on Equity
12.46%
Debt to Equity
0.19
Book Value
₹49,454.97
EPS
₹4,866.72
52W High
₹1,63,600
52W Low
₹1,22,000

Technical Indicators

Key Insights

Weaknesses

1
  • Company has a low return on equity of 12.1% over last 3 years.

Growth Rate

Revenue Growth
9.06% ↗
Net Income Growth
32.38% ↗
Cash Flow Change
-43.46% ↘
ROE
-18.86% ↘
ROCE
-16.03% ↘
EBITDA Margin (Avg.)
-2.86% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk medium

MRF Ltd trades at a PE of 22.7x with strong recent profit growth of 32% TTM, but carries a sell-heavy analyst consensus (50% sell) and a low 3-year ROE of 12%. The stock's 1-year return of -4% and zero dividend yield limit near-term appeal despite solid long-term compounding at 15% CAGR over 10 years.

Bull Case 7
  • Compounded profit growth of 32% TTM indicates strong recent earnings momentum
  • 3-year compounded profit CAGR of 52% reflects exceptional medium-term earnings expansion
  • 10-year stock CAGR of 15% demonstrates consistent long-term wealth creation
  • TTM sales growth of 11% shows healthy topline expansion in current environment
  • ROE improved to 13% in the last year from 9% over 5-year average, indicating improving capital efficiency
  • PE of 22.7x is reasonable for a market leader in the tyre industry with Rs 55,145 Cr market cap
  • 5-year compounded sales CAGR of 14% reflects sustained demand and pricing power
Bear Case 8
  • 50% of analysts rate MRF a Sell with only 30% recommending Buy, indicating weak Street confidence
  • Stock delivered -4% return over 1 year, underperforming broader markets significantly
  • Zero dividend yield offers no income cushion despite Rs 55,145 Cr market cap and profitable operations
  • 3-year ROE of only 12% is below acceptable threshold for a premium consumer discretionary stock
  • 10-year compounded profit growth of 0% reveals that recent profit surge is a recovery, not structural
  • 10-year compounded sales CAGR of only 4% indicates historically sluggish topline growth
  • Price-to-book ratio of 2.63x is elevated relative to the low return on equity profile
  • 5-year stock CAGR of only 9% lags the broader Nifty 50 returns over the same period

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Positives 1
  • Analyst stock pick for June Jun 16

    Chandan Taparia of Motilal Oswal included MRF among 3 stock recommendations for June 16, 2026, amid broad market rally where Sensex jumped 736.38 points (0.97%) to 76,264.33 and Nifty 50 settled 231 points higher at 23,853.90.

Neutral 3
  • No share encumbrance in FY26 Jun 20

    MRF declared no new encumbrance on its shares for FY26 under SEBI takeover regulations, indicating clean promoter holding.

  • VP ITS Suresh Cherian retires May 31

    MRF Vice President - ITS, Mr. Suresh T Cherian, retired effective May 31, 2026, disclosed under SEBI Regulation 30.

  • Full SEBI compliance in FY26 May 28

    MRF's secretarial audit report confirms full compliance with SEBI regulations for FY26 with no deviations or fines.

TL;DR: MRF shows clean corporate governance with full SEBI compliance, no share encumbrances, and received a positive analyst mention amid a broader market rally. No material headwinds emerged in recent news flow. The absence of negative catalysts and inclusion in analyst picks suggests stable sentiment, though the news cycle lacks any major fundamental catalyst to drive re-rating in the near term.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
5,842
6,440
6,217
6,162
6,349
7,196
6,881
7,001
7,075
7,676
7,379
8,050
8,044
Expenses
4,988
5,310
5,060
5,108
5,437
6,037
5,870
6,166
6,000
6,604
6,253
6,651
6,739
Operating Profit
854
1,130
1,157
1,055
912
1,160
1,011
835
1,074
1,071
1,126
1,400
1,305
OPM %
15%
18%
19%
17%
14%
16%
15%
12%
15%
14%
15%
17%
16%
Other Income
70
75
71
78
94
84
113
98
115
126
108
50
153
Interest
92
84
86
90
93
85
84
94
98
98
90
91
86
Depreciation
330
333
351
360
385
396
410
415
433
429
445
438
442
PBT
501
787
791
682
527
763
631
424
659
670
699
920
930
Tax %
32%
25%
26%
25%
25%
25%
25%
26%
23%
25%
25%
25%
24%
Net Profit
341
589
587
510
396
571
471
315
510
500
526
695
702
EPS in Rs
803
1,388
1,383
1,202
934
1,346
1,110
744
1,204
1,180
1,239
1,638
1,656
Figures in ₹ Crores

Profit & Loss

  Sep 2014Mar 2016 18mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
13,329
20,179
13,412
14,954
16,062
16,237
16,162
19,317
23,008
25,169
28,152
31,149
Expenses
11,384
15,743
10,763
12,665
13,744
13,855
13,208
17,256
20,604
20,896
24,058
26,248
Operating Profit
1,945
4,437
2,649
2,288
2,317
2,382
2,954
2,061
2,404
4,272
4,095
4,901
OPM %
15%
22%
20%
15%
14%
15%
18%
11%
10%
17%
15%
16%
Other Income
63
317
327
330
416
335
205
315
245
306
406
441
Interest
232
361
257
259
273
301
282
263
326
361
368
366
Depreciation
424
737
611
707
808
982
1,141
1,205
1,253
1,430
1,654
1,754
PBT
1,353
3,656
2,109
1,653
1,652
1,434
1,737
908
1,070
2,787
2,479
3,222
Tax %
33%
31%
30%
32%
32%
1%
26%
26%
28%
25%
25%
25%
Net Profit
908
2,509
1,486
1,132
1,131
1,423
1,277
669
769
2,081
1,869
2,426
EPS in Rs
2,142
5,917
3,504
2,668
2,666
3,354
3,011
1,578
1,813
4,907
4,408
5,720
Div. Payout %
2%
2%
2%
2%
2%
3%
5%
10%
10%
4%
5%
4%
Figures in ₹ Crores

Balance Sheet

  Sep 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
4
4
4
4
4
4
4
4
4
4
4
4
Reserves
4,535
7,220
8,637
9,734
10,833
12,210
13,409
14,028
14,703
16,699
18,484
20,970
Borrowings
1,903
2,464
2,333
2,163
2,506
1,854
2,388
3,229
3,014
2,822
3,771
3,207
Other Liabilities
3,391
3,566
4,075
4,577
5,098
5,373
6,780
5,799
6,648
7,325
7,307
7,772
Total Liabilities
9,833
13,254
15,048
16,478
18,441
19,442
22,582
23,060
24,369
26,849
29,567
31,954
Fixed Assets
3,436
4,608
5,502
6,092
6,786
8,870
9,441
9,522
10,118
12,046
13,221
12,966
CWIP
628
1,059
848
1,079
1,403
1,741
1,002
1,233
3,046
2,385
1,169
1,034
Investments
1,081
3,138
3,382
4,145
3,855
1,519
5,874
3,656
3,085
3,383
4,548
3,398
Other Assets
4,688
4,448
5,316
5,162
6,397
7,312
6,265
8,648
8,120
9,036
10,629
14,555
Total Assets
9,833
13,254
15,048
16,478
18,441
19,442
22,582
23,060
24,369
26,849
29,567
31,954
Figures in ₹ Crores

Cash Flow

  Sep 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1,699
3,043
1,956
2,413
1,253
2,271
4,325
-578
2,755
3,303
1,868
4,590
Investing
-1,791
-3,408
-1,393
-2,014
-1,386
-162
-5,087
169
-1,922
-2,381
-2,082
-3,536
Financing
67
212
-438
-453
42
-1,032
-250
424
-840
-868
282
-1,120
Net Cash Flow
-24
-152
125
-53
-91
1,077
-1,012
14
-6
55
68
-66
Free Cash Flow
454
737
590
849
-710
-479
3,473
-2,283
-535
1,141
573
3,164
CFO/OP
109
95
89
126
72
114
164
-18
128
94
60
108
Figures in ₹ Crores

Ratios

  Sep 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
47
33
54
52
54
52
48
44
40
42
44
42
Inventory Days
79
62
118
88
113
110
115
120
98
108
115
101
Days Payable
50
36
69
63
64
72
129
60
58
64
57
60
Cash Conversion Cycle
76
58
103
78
102
90
34
104
80
86
101
83
Working Capital Days
30
1
4
-1
2
5
-41
10
-8
3
8
43
ROCE %
27%
49%
23%
17%
15%
13%
14%
6%
7%
17%
14%
16%

Shareholding Pattern

As of Mar 2026
Others 29.47%
Promoters 27.77%
FIIs 17.98%
Public 12.52%
DIIs 12.25%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
27.84%
27.82%
27.84%
27.90%
27.95%
27.94%
27.87%
27.87%
27.84%
27.77%
27.75%
27.75%
27.78%
27.78%
27.77%
27.80%
27.78%
27.78%
27.75%
27.73%
27.77%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
19.59%
0.00%
19.74%
19.08%
18.68%
18.19%
17.54%
18.67%
18.27%
18.17%
17.98%
DIIs
8.84%
8.69%
8.17%
8.21%
7.32%
6.57%
7.33%
11.37%
11.66%
11.72%
11.19%
11.30%
10.57%
10.74%
11.68%
12.00%
12.22%
11.67%
12.38%
12.51%
12.25%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
15.64%
15.79%
15.83%
16.01%
16.16%
15.07%
13.08%
12.75%
12.73%
12.36%
12.15%
12.06%
12.35%
12.84%
12.37%
12.51%
12.93%
12.29%
12.07%
12.11%
12.52%
Others
47.68%
47.70%
48.16%
47.87%
48.56%
50.42%
51.71%
48.00%
47.76%
48.16%
29.32%
48.89%
29.57%
29.57%
29.51%
29.50%
29.53%
29.60%
29.54%
29.48%
29.47%
No. of Shareholders
0
50,630
55,803
54,446
62,406
66,786
56,544
48,377
43,500
37,938
37,504
37,584
47,663
57,325
48,576
52,964
61,320
50,253
48,074
49,218
58,110

Documents

Frequently Asked Questions about MRF Ltd

What does MRF Ltd do?
Madras Rubber Factory Limited (MRF) is the parent company of the MRF Group. The Co is engaged in the business of manufacturing tyres[1]
Where is MRF Ltd (MRF) listed?
MRF Ltd is listed on the Indian stock exchanges. It is listed on NSE: MRF and BSE: 500290. You can view its live share price, financials, and ratios on Tapetide.
Which sector does MRF Ltd belong to?
MRF Ltd operates in the Consumer Discretionary sector within the Auto Components industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of MRF Ltd?
MRF Ltd has a market capitalisation of approximately ₹55510.20 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of MRF Ltd?
The Price-to-Earnings (PE) ratio of MRF Ltd is 22.68. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of MRF Ltd?
Over the past 52 weeks, MRF Ltd has traded between a low of ₹1,22,000 and a high of ₹1,63,600. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of MRF Ltd?
MRF Ltd has a Return on Equity (ROE) of 12.46%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research MRF Ltd on Tapetide?
On Tapetide, you can view MRF Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Madras Rubber Factory Limited (MRF) is the parent company of the MRF Group. The Co is engaged in the business of manufacturing tyres[1]

Website mrftyres.com
CEO Mr. K. M. Vinoo Mammen B.A.
Employees 17,850
Listed 1996-09-18
Face Value ₹ 10
Issued Size 42,41,143

Explore More

More in Consumer Discretionary → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List