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MRF

MRF NSE
₹1,17,985.00 No trade today
P/E
20.70
View as Markdown
MCP
Close 4 Nov 2026 ₹1,17,985.00 −39,270.00 −25.0% 1Y
Start ₹1,57,255.00

Key Fundamentals

MidcapAuto ComponentsConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
15.70%
Debt to Equity
0.15
EPS (TTM)
₹5,700.98
Book Value
₹49,454.97
Market Cap
—
P/E (TTM)
20.70
P/B
2.39
ROE
12.50%
Dividend Yield
0.20%
EBITDA
₹5,405 Cr
52W High
₹1,59,700.00
52W Low
₹1,15,190.00
Volume
0

Peer Comparison

Consumer Discretionary › Automobiles › Tyres › Tyres & Rubber Products

MRF peer comparison
MRF (this company)
₹1,17,985.0020.70₹49,969 Cr2.390.20%12.50%15.70%₹31,889 Cr₹2,418 Cr
Balkrishna Industries
₹2,243.7030.86₹42,899 Cr3.960.18%9.66%11.20%₹11,518 Cr₹1,405 Cr
Apollo Tyres
₹402.4014.96₹25,493 Cr1.521.51%13.10%13.90%₹29,308 Cr₹1,709 Cr
CEAT
₹3,415.1026.78₹13,601 Cr2.781.05%16.10%19.20%₹17,456 Cr₹515 Cr
JK Tyre & Industries
₹332.8514.35₹9,612 Cr1.581.23%16.00%15.50%₹16,404 Cr₹657 Cr
TVS Srichakra
₹4,235.3035.11₹3,250 Cr2.730.91%5.75%7.85%₹3,892 Cr₹92 Cr
Goodyear
₹667.2528.55₹1,538 Cr2.553.99%12.60%17.40%₹2,594 Cr₹54 Cr
Median 7 companies₹2,243.7026.78₹13,601 Cr2.551.05%12.60%15.50%₹16,404 Cr₹657 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

55 Good

Data confidence 100/100

Category scores

Quality
67
Strong
Returns, margins, earnings quality 22% weight
Valuation
82
Strong
Cheap vs sector & own history 24% weight
Growth
35
Poor
Sales & profit trajectory 9% weight
Financial Health
45
Average
Solvency, leverage, coverage 9% weight
Momentum
20
Poor
Trend strength, vol-adjusted 12% weight
Ownership
53
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

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

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1063
OscillatorsBullish162
Moving AveragesStrong Bearish901

Key readings

RSI (14)
32.90
Neutral
MACD (12,26,9)
−2,106.35
Bullish
SMA (50)
1,24,657.60
Bearish
SMA (200)
1,31,373.28
Bearish

As of

Analyst Rating

Based on 11 analysts
BUY45%

5 of 11 analysts rate Buy, 2 Hold, 4 Sell.

As of

BUY
5
45%
HOLD
2
18%
SELL
4
36%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10YIrregular period
5Y+14.02%
3Y+10.63%
1Y+10.65%
TTM+11.37%

Net profit

Net profit growth by window
10YIrregular period
5Y+13.69%
3Y+46.66%
1Y+29.52%
TTM+34.48%

Operating cash flow

Operating cash flow growth by window
10YIrregular period
5Y+1.20%
3Y+18.55%
1Y+146.11%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10YIrregular period
5Y−2.52 pp
3Y+5.31 pp
1Y+1.23 pp
TTM+1.19 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹13,412 Cr
Mar 2018₹14,954 Cr
Mar 2019₹16,062 Cr
Mar 2020₹16,237 Cr
Mar 2021₹16,162 Cr
Mar 2022₹19,317 Cr
Mar 2023₹23,008 Cr
Mar 2024₹25,169 Cr
Mar 2025₹28,152 Cr
Mar 2026₹31,149 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹1,486 Cr
Mar 2018₹1,132 Cr
Mar 2019₹1,131 Cr
Mar 2020₹1,423 Cr
Mar 2021₹1,277 Cr
Mar 2022₹669 Cr
Mar 2023₹769 Cr
Mar 2024₹2,081 Cr
Mar 2025₹1,873 Cr
Mar 2026₹2,426 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹971 Cr −18.1% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 29 Oct 2026
AI opinion · based on fundamentals
Risk medium

MRF Ltd trades at ₹1,18,065 as of 2026-10-29 with a market cap of ₹50,073 Cr, a P/E (TTM) of 20.71x, and ROE of 11.57%. The stock is down roughly 26% from its 52-week high of ₹1,60,560 and sits near its 52-week low of ₹1,15,190, while the company has delivered strong recent profit growth of 37% TTM alongside a conservative balance sheet with a debt-to-equity ratio of 0.15.

Bull Case 8
  • TTM compounded profit growth stands at 37%, indicating a sharp acceleration in earnings over the recent period
  • 3-year compounded profit CAGR of 52% reflects a sustained multi-year earnings expansion cycle
  • Very conservative balance sheet with debt-to-equity at just 0.15, providing financial resilience and capacity for future capex
  • ROCE of 15.64% suggests the company is generating reasonable returns on total capital employed, comfortably above typical cost of debt
  • TTM sales growth of 11% and 3-year compounded sales CAGR of 11% show consistent top-line momentum
  • EPS (TTM) of ₹5,700.98 supports the current P/E of 20.71x, which is not stretched relative to the recent profit growth trajectory
  • 5-year compounded sales CAGR of 14% demonstrates the company's ability to grow revenue through varied economic cycles
  • Stock trading near its 52-week low of ₹1,15,190 (currently ₹1,18,065) means much of the negative sentiment may already be reflected in the price
Bear Case 8
  • Stock has delivered a -19% return over the past 1 year, significantly underperforming broader market indices
  • 3-year average ROE of 12% is low for a market leader in its segment, indicating limited efficiency in generating shareholder returns from equity
  • 10-year compounded profit CAGR is 0%, meaning long-term earnings have essentially stagnated over a full decade despite recent recovery
  • 10-year compounded sales CAGR of just 4% highlights structurally slow top-line growth over an extended period
  • Dividend yield of only 0.2% offers negligible income return for shareholders at the current price of ₹1,18,065
  • P/B ratio of 2.39x combined with an ROE of 11.57% implies a modest return on the premium paid over book value
  • 10-year stock CAGR of 9% is modest for a mid-cap industrial name, suggesting limited long-term wealth creation relative to risk
  • The 26% decline from the 52-week high of ₹1,60,560 to ₹1,18,065 signals a broken near-term technical trend and weakening investor sentiment

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

AI News Digest

9h ago

TL;DR: A single regulatory update dominated the week, with MRF securing a significant reduction in a legacy sales tax demand. No fresh operational headwinds or bullish catalysts emerged. With limited news flow, the near-term outlook hinges on broader auto-sector trends and upcoming quarterly results.

Neutral 1
  • Sales tax demand sharply reduced Oct 7

    MRF received a rectification order cutting a FY14-15 sales tax demand from ₹91.53 crore to ₹36.19 crore. The company plans to challenge the remaining ₹36.19 crore liability.

Quarterly Results

₹ Cr
MRF quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
6,440
6,217
6,162
6,349
7,196
6,881
7,001
7,075
7,676
7,379
8,050
8,044
8,416
Expenses
5,310
5,060
5,108
5,437
6,037
5,870
6,166
6,000
6,605
6,253
6,651
6,739
7,425
Operating Profit
1,130
1,157
1,055
912
1,160
1,011
835
1,074
1,070
1,126
1,400
1,305
991
OPM %
18%
19%
17%
14%
16%
15%
12%
15%
14%
15%
17%
16%
12%
Other Income
75
71
78
94
84
113
98
115
129
108
50
153
195
Interest
84
86
90
93
85
84
94
98
98
90
91
86
88
Depreciation
333
351
360
385
396
410
415
433
429
445
438
442
448
PBT
787
791
682
527
763
631
424
659
672
699
920
930
650
Tax %
25%
26%
25%
25%
25%
25%
26%
23%
25%
25%
25%
24%
24%
Net Profit
589
587
510
396
571
471
315
510
502
526
692
702
495
EPS (₹)
1,388
1,383
1,202
934
1,346
1,110
744
1,204
1,183
1,239
1,638
1,656
1,168

Profit & Loss

₹ Cr
MRF profit and loss, annual, ₹ crore
Particulars Sep 2014Mar 2016 18mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
31,889
Expenses
11,384
15,743
10,763
12,665
13,744
13,855
13,208
17,256
20,604
20,896
24,062
26,238
27,068
Operating Profit
1,945
4,437
2,649
2,288
2,317
2,382
2,954
2,061
2,404
4,272
4,090
4,910
4,821
OPM %
15%
22%
20%
15%
14%
15%
18%
11%
10%
17%
15%
16%
15%
Other Income
63
317
327
330
416
335
205
315
245
306
408
440
506
Interest
232
361
257
259
273
301
282
263
326
361
360
374
356
Depreciation
424
737
611
707
808
982
1,141
1,205
1,253
1,430
1,654
1,754
1,773
PBT
1,353
3,656
2,109
1,653
1,652
1,434
1,737
908
1,070
2,787
2,483
3,222
3,198
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
2,418
EPS (₹)
2,142
5,917
3,504
2,668
2,666
3,354
3,011
1,578
1,813
4,907
4,417
5,720
5,701
Div. Payout %
2%
2%
2%
2%
2%
3%
5%
10%
10%
4%
5%
4%
—

Balance Sheet

₹ Cr
MRF balance sheet, annual, ₹ crore
Particulars 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
18,606
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
7,308
7,772
Total Liabilities
9,833
13,254
15,048
16,478
18,441
19,442
22,582
23,060
24,369
26,849
29,689
31,954
Fixed Assets
3,436
4,608
5,502
6,092
6,786
8,870
9,441
9,522
10,118
12,046
13,223
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
10,750
14,555
Total Assets
9,833
13,254
15,048
16,478
18,441
19,442
22,582
23,060
24,369
26,849
29,689
31,954

Cash Flow

₹ Cr
MRF cash flow, annual, ₹ crore
Particulars 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
1,865
4,590
Investing
−1,791
−3,408
−1,393
−2,014
−1,386
−162
−5,087
166
−1,922
−2,381
−2,077
−3,539
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
12
−6
55
70
−69
Free Cash Flow
454
737
590
849
−710
−479
3,473
−2,283
−535
1,141
569
3,164
CFO/OP
109
95
89
126
72
114
164
−18
128
94
60
107

Ratios

MRF financial ratios, annual
Particulars 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
7
ROCE %
27%
49%
23%
17%
15%
13%
14%
7%
7%
17%
14%
16%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view MRF insights

65 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Others 29.58%
  • Promoters 27.61%
  • FIIs 17.10%
  • Public 13.01%
  • DIIs 12.70%

0.09% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about MRF

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
Where is MRF Ltd (MRF) listed?
MRF Ltd trades as MRF on the NSE and under code 500290 on the BSE.
Which sector does MRF Ltd belong to?
MRF Ltd is classified under the Automobiles sector, in the Tyres industry.
What is the PE ratio of MRF Ltd?
MRF Ltd trades at a PE ratio of 20.70 as of 4 Nov 2026, on earnings per share of ₹5,700.98, against a book value of ₹49,454.97 per share.
What is the 52-week high and low of MRF Ltd?
Over the last 52 weeks MRF Ltd has traded between ₹1,15,190 and ₹1,59,700 as of 4 Nov 2026.
Does MRF Ltd pay dividends?
MRF Ltd has a dividend yield of 0.20%.
What is the Return on Equity (ROE) of MRF Ltd?
MRF Ltd reported a return on equity of 12.50%. Its debt-to-equity ratio is 0.15.

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

Website mrftyres.com
CEO Mr. K. M. Vinoo Mammen B.A.
Employees 17,850
Listed 18 Sep 1996
Face Value ₹10

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