MRF

₹127470.1 1331 | 1.1%

WEBSITE BSE:500290 NSE : MRF LTD. 10 May, 16:01

Market Cap ₹54062 Cr.

Stock P/E 26.0

P/B 3.2

Current Price ₹127470.1

Book Value ₹ 39383.2

Face Value 10

52W High ₹151283.4

Dividend Yield 0.16%

52W Low ₹ 94006.1

Edit Ratio

MRF Research see more...

Overview Inc. Year: 1960Industry: Tyres & Allied

MRF Ltd is a holding enterprise. The Company is engaged in the manufacturing and sale of tire, tread rubber, rubber chemicals, tubes, and flaps. It gives numerous classes of merchandise, which include truck tires, such as SUPER MILLER, SAND GRIP, STEEL MUSCLE, SUPER LUG, and M-77; tractor tires, which include TRACTOR TRAILOR-707, SHAKTI SUPER, KRISHI, FARM MUSCLE, SHAKTI LIFE, and PAHALWAN; light commercial automobile tires, such as SUPER LUG 505, SUPER MILER 99 and SUPER LUG FIFTY; small commercial car tires, inclusive of SAVARI, SAVARI LUG and ZIGMA CTP; pick up vehicle tire, such as SM 12; two/three wheeler tires, inclusive of AUTOMILER 82, SAVARI TREK, TRIPLE PLUS, REVZ FH, MOTO D, ZAPPER FM, RIB PLUS and ZAPPER FN, and off the road tires, such as MUSCLE-LIFT, MUSCLEROK-EARTH MOVERS, MUSCLEROK-GRADERS, MUSCLEROK-SMOOTH, MUSCLEROK-ROADTRACK and SANDGRIP. It also gives paints and coats, and various services, which includes TireTok, Tyredrome, MRF FASST and the MRF Institute of Driver Development (MIDD).

MRF Share Price

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Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

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Peer Comparison

MRF Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	4920	5305	5696	5826	5645	5842	6440	6217	6162	6349
Other Income	70	66	34	77	71	70	75	71	78	94
Total Income	4990	5371	5730	5903	5716	5912	6515	6288	6240	6443
Total Expenditure	4427	4765	5203	5346	5083	4988	5310	5060	5108	5437
Operating Profit	563	606	528	558	633	923	1205	1228	1132	1006
Interest	64	67	66	75	86	92	84	86	90	93
Depreciation	296	311	298	309	316	330	333	351	360	385
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	202	228	164	174	231	501	787	791	682	527
Provision for Tax	53	63	40	44	56	161	198	204	173	131
Profit After Tax	149	165	124	130	175	341	589	587	510	396
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	149	165	124	130	175	341	589	587	510	396
Adjusted Earnings Per Share	352.3	389.6	291.5	306.3	412.3	803.4	1388.6	1383.6	1202.1	934.2

MRF Profit & Loss

#(Fig in Cr.)	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	11967	12248	13330	20180	13412	14954	16062	16239	16163	19317	23009	25168
Other Income	32	25	66	324	331	331	422	335	210	317	253	318
Total Income	11999	12273	13396	20504	13743	15285	16484	16575	16373	19634	23261	25486
Total Expenditure	10695	10468	11388	15750	10767	12667	13751	13857	13214	17258	20612	20915
Operating Profit	1304	1805	2009	4754	2977	2618	2733	2717	3159	2376	2649	4571
Interest	159	196	232	361	257	259	273	301	282	263	326	353
Depreciation	302	374	424	737	611	707	808	982	1141	1205	1253	1429
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	843	1235	1353	3656	2109	1653	1652	1434	1737	908	1070	2787
Provision for Tax	264	427	445	1146	623	521	522	12	460	239	301	706
Profit After Tax	579	809	908	2509	1486	1132	1131	1423	1277	669	769	2082
Adjustments	-0	-0	-0	-0	0	0	0	-0	-0	-0	-0	0
Profit After Adjustments	579	809	908	2509	1486	1132	1131	1423	1277	669	769	2082
Adjusted Earnings Per Share	1366.5	1907.1	2142.3	5918.4	3505.2	2668.9	2666.5	3355.1	3011.9	1578.4	1813.6	4908.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	19%	12%	9%	7%
Operating Profit CAGR	11%	-1%	0%	7%
PAT CAGR	15%	-19%	-7%	3%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	31%	18%	19%	19%
ROE Average	5%	7%	9%	17%
ROCE Average	8%	10%	11%	21%

MRF Balance Sheet

#(Fig in Cr.)	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	2861	3655	4540	7224	8641	9738	10837	12215	13414	14032	14708
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	1103	952	1199	1486	1238	1319	1055	779	812	817	824
Other Non-Current Liabilities	1183	1340	1471	514	667	831	1085	1196	1089	1254	1343
Total Current Liabilities	2081	2330	2623	4029	4502	4590	5464	5252	7268	6957	7495
Total Liabilities	7228	8278	9833	13254	15048	16478	18441	19442	22582	23060	24369
Fixed Assets	2919	2974	3436	4608	5502	6092	6786	8870	9441	9522	10118
Other Non-Current Assets	555	594	1018	2327	2232	2512	3191	2422	2778	3274	5008
Total Current Assets	3754	4710	5379	6319	7314	7875	8464	8151	10363	10264	9244
Total Assets	7228	8278	9833	13254	15048	16478	18441	19442	22582	23060	24369

MRF Cash Flow

#(Fig in Cr.)	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	56	62	290	273	121	247	193	102	1179	240	254
Cash Flow from Operating Activities	1034	1499	1699	3043	1956	2413	1253	2271	4325	-578	2755
Cash Flow from Investing Activities	-977	-959	-1791	-3408	-1393	-2014	-1386	-164	-5086	168	-1923
Cash Flow from Financing Activities	-51	-313	67	212	-438	-453	42	-1032	-250	424	-840
Net Cash Inflow / Outflow	6	228	-24	-152	125	-53	-91	1075	-1011	13	-8
Closing Cash & Cash Equivalent	62	290	266	121	247	193	102	1179	167	254	249

MRF Ratios

#	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	1366.51	1907.08	2142.26	5918.44	3505.24	2668.89	2666.53	3355.09	3011.93	1578.37	1813.56
CEPS(Rs)	2078.35	2788.47	3142	7656.96	4945.28	4335.68	4571.25	5671.91	5702.45	4420.5	4768.89
DPS(Rs)	25	30	50	100	60	60	60	100	150	150	175
Book NAV/Share(Rs)	6747.83	8621.32	10706.49	17038.54	20379.15	22967.43	25559.79	28808.28	31636.01	33093.75	34687.88
Core EBITDA Margin(%)	9.66	13.11	13.13	19.7	17.72	14.89	14.39	14.67	17.82	10.43	10.21
EBIT Margin(%)	7.61	10.54	10.71	17.86	15.85	12.44	11.99	10.68	12.2	5.93	5.95
Pre Tax Margin(%)	6.4	9.1	9.14	16.25	14.13	10.76	10.29	8.83	10.5	4.6	4.56
PAT Margin (%)	4.4	5.95	6.14	11.16	9.96	7.36	7.04	8.76	7.72	3.39	3.28
Cash Profit Margin (%)	6.69	8.7	9	14.43	14.04	11.96	12.07	14.81	14.61	9.5	8.61
ROA(%)	8.55	10.43	10.03	21.74	10.5	7.18	6.48	7.51	6.08	2.93	3.24
ROE(%)	22.48	24.82	22.17	42.66	18.74	12.31	10.99	12.34	9.97	4.88	5.35
ROCE(%)	23.68	29.14	27.1	49.8	22.9	16.71	15.26	12.66	13.7	7.26	8.22
Receivable days	38.21	40.48	40.38	28.84	46.55	48.92	51.5	52.62	49.03	41.43	37.6
Inventory Days	44.26	46.78	44.93	30.23	52.87	54.91	58.97	66.29	64.45	65.38	64.31
Payable days	26.07	30.43	32.78	27.28	47.19	46.56	50.05	54.43	84.84	65.23	43.17
PER(x)	7.52	7	15.23	6.48	17.32	27.09	21.77	17.36	27.3	41.16	46.34
Price/Book(x)	1.52	1.55	3.05	2.25	2.98	3.15	2.27	2.02	2.6	1.96	2.42
Dividend Yield(%)	0.24	0.22	0.15	0.26	0.1	0.08	0.1	0.17	0.18	0.23	0.21
EV/Net Sales(x)	0.5	0.57	1.13	0.92	2.07	2.18	1.68	1.56	2.27	1.56	1.64
EV/Core EBITDA(x)	4.6	3.83	7.47	3.91	9.32	12.45	9.89	9.34	11.61	12.67	14.27
Net Sales Growth(%)	22.72	2.35	8.84	51.39	-33.54	11.5	7.41	1.1	-0.47	19.51	19.11
EBIT Growth(%)	1.14	42.85	10.71	153.44	-41.09	-19.21	0.74	-9.89	16.33	-42	19.26
PAT Growth(%)	-6.36	39.56	12.33	176.27	-40.77	-23.86	-0.09	25.82	-10.23	-47.6	14.9
EPS Growth(%)	-6.36	39.56	12.33	176.27	-40.77	-23.86	-0.09	25.82	-10.23	-47.6	14.9
Debt/Equity(x)	0.6	0.44	0.42	0.34	0.27	0.22	0.23	0.15	0.15	0.2	0.16
Current Ratio(x)	1.8	2.02	2.05	1.57	1.62	1.72	1.55	1.55	1.43	1.48	1.23
Quick Ratio(x)	1	1.24	1.35	1.1	1.09	1.24	1	1	1.02	0.88	0.68
Interest Cover(x)	6.31	7.3	6.84	11.14	9.22	7.39	7.04	5.77	7.17	4.45	4.28
Total Debt/Mcap(x)	0.39	0.28	0.14	0.15	0.09	0.07	0.1	0.08	0.06	0.1	0.07

MRF Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	27.9	27.95	27.94	27.87	27.87	27.84	27.77	27.75	27.75	27.78
FII	14.58	15.54	16.05	16.46	18.22	18.05	18.77	19.59	19.41	19.74
DII	12.9	11.73	12.46	12.49	11.37	11.66	11.72	11.19	11.46	10.57
Public	44.61	44.79	43.55	43.17	42.53	42.45	41.74	41.48	41.38	41.91
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12
FII	0.06	0.07	0.07	0.07	0.08	0.08	0.08	0.08	0.08	0.08
DII	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.04
Public	0.19	0.19	0.18	0.18	0.18	0.18	0.18	0.18	0.18	0.18
Others	0	0	0	0	0	0	0	0	0	0
Total	0.42	0.42	0.42	0.42	0.42	0.42	0.42	0.42	0.42	0.42

Pros

Debtor days have improved from 65.23 to 43.17days.
Company is almost debt free.

Cons

Promoter holding is low: 27.78%.
Company has a low return on equity of 7% over the last 3 years.
Stock is trading at 3.2 times its book value.
The company has delivered a poor profit growth of -7% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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MRF

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MRF Research see more...

Overview Inc. Year: 1960Industry: Tyres & Allied

MRF Share Price

Alert Data

Quarterly Price

Peer Comparison

MRF Quarterly Results

MRF Profit & Loss

Growth Rates

MRF Balance Sheet

MRF Cash Flow

MRF Ratios

MRF Shareholding Pattern

MRF News

IPO

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