MarketFriction

MRF Ltd

NSE MRF · BSE 500290 · Tyres & Rubber Products
₹123,715.00 -1.25%
NSE close2026-10-01
52 week range122,000.00 - 163,600.00
Market cap₹52,200 Cr.
P/E21.2
Nifty 200Nifty 500Nifty Midcap 100Midcap 150 Price band 20% Delivery 41.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales6,2176,1626,3497,1966,8817,0017,0757,6767,3798,0508,0448,416
Expenses5,0605,1085,4376,0375,8706,1666,0006,6056,2536,6516,7397,425
Operating Profit1,1571,0559121,1601,0118351,0741,0701,1261,4001,305991
OPM %19%17%14%16%15%12%15%14%15%17%16%12%
Other Income717894841139811512910850153195
Interest869093858494989890918688
Depreciation351360385396410415433429445438442448
Profit before tax791682527763631424659672699920930650
Tax %26%25%25%25%25%26%23%25%25%25%24%24%
Net Profit587510396571471315510502526695702495
EPS in Rs1,383.271,201.83933.961,346.401,109.85743.791,203.701,183.231,239.401,637.781,655.821,167.98
Mar 2016 18mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales20,17913,41214,95416,06216,23716,16219,31723,00825,16928,15231,14931,889
Expenses15,74310,76312,66513,74413,85513,20817,25620,60420,89624,06226,23827,068
Operating Profit4,4372,6492,2882,3172,3822,9542,0612,4044,2724,0904,9104,821
OPM %22%20%15%14%15%18%11%10%17%15%16%15%
Other Income317327330416335205315245306414440506
Interest361257259273301282263326361368374356
Depreciation7376117078089821,1411,2051,2531,4301,6541,7541,773
Profit before tax3,6562,1091,6531,6521,4341,7379081,0702,7872,4833,2223,198
Tax %31%30%32%32%1%26%26%28%25%25%25%
Net Profit2,5091,4861,1321,1311,4231,2776697692,0811,8732,4262,418
EPS in Rs5,916.933,504.332,668.202,665.823,354.223,011.151,577.961,813.044,907.264,416.975,720.435,700.98
Dividend Payout %2%2%2%2%3%5%10%10%4%5%4%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth4%14%11%11%
Compounded Profit Growth0%14%52%37%
Stock Price CAGR9%9%5%-16%
Return on Equity11%10%12%13%
Sep 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital444444444444
Reserves4,5357,2208,6379,73410,83312,21013,40914,02814,70316,69918,60620,970
Borrowings1,9032,4642,3332,1632,5061,8542,3883,2293,0142,8223,7713,207
Other Liabilities3,3913,5664,0754,5775,0985,3736,7805,7996,6487,3257,3087,772
Total Liabilities9,83313,25415,04816,47818,44119,44222,58223,06024,36926,84929,68931,954
Fixed Assets3,4364,6085,5026,0926,7868,8709,4419,52210,11812,04613,22312,966
CWIP6281,0598481,0791,4031,7411,0021,2333,0462,3851,1691,034
Investments1,0813,1383,3824,1453,8551,5195,8743,6563,0853,3834,5483,398
Other Assets4,6884,4485,3165,1626,3977,3126,2658,6488,1209,03610,75014,555
Total Assets9,83313,25415,04816,47818,44119,44222,58223,06024,36926,84929,68931,954
Sep 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1,6993,0431,9562,4131,2532,2714,325-5782,7553,3031,8654,590
Cash from Investing Activity-1,791-3,408-1,393-2,014-1,386-162-5,087166-1,922-2,381-2,077-3,539
Cash from Financing Activity67212-438-45342-1,032-250424-840-868282-1,120
Net Cash Flow-24-152125-53-911,077-1,01212-65570-69
Free Cash Flow454737590849-710-4793,473-2,283-5351,1415693,164
CFO/OP109%95%89%126%72%114%164%-18%128%94%60%107%
Sep 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days473354525452484440424442
Inventory Days79621188811311011512098108115101
Days Payable5036696364721296058645760
Cash Conversion Cycle7658103781029034104808610183
Working Capital Days3014-125-4110-8387
ROCE %27%49%23%17%15%13%14%7%7%17%14%16%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters27.75%27.76%27.78%27.77%27.76%27.80%27.78%27.78%27.75%27.73%27.77%27.76%
FIIs19.58%19.41%19.75%19.08%18.68%18.20%17.54%18.67%18.27%18.18%17.98%17.43%
DIIs11.19%11.45%10.57%10.74%11.68%12.00%12.22%11.66%12.38%12.50%12.25%12.11%
Public41.48%41.39%41.92%42.41%41.88%42.02%42.46%41.88%41.60%41.58%41.98%42.71%
No. of Shareholders37,50437,58447,66357,32548,57652,96461,32050,25348,07449,21858,11068,876

Fundamentals

Market Cap₹ 52,200 Cr.
Current Price₹ 1,23,080
Stock P/E21.2
Book Value₹ 49,455
ROCE15.7 %
ROE12.5 %
Dividend Yield0.19 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)11%
Compounded Profit Growth (TTM)37%
Consolidated figures.
Valuation
Market capRs 52,469 Cr
Enterprise valueRs 53,493 Cr
P/E (TTM)21.70x
Price to book2.50x
Price to sales1.65x
EV / EBITDA10.04x
EV / EBIT15.05x
EV / sales1.68x
Price to cash flow11.43x
Earnings yield4.61%
Dividend yield0.19%
P/E, 3-year average25.05x
P/B, 3-year average2.85x
P/E, 5-year average32.54x
P/B, 5-year average2.59x
Profitability
Operating margin (excl. other income)15.76%
Operating margin (incl. other income)17.18%
EBITDA margin16.70%
Pre-tax margin10.03%
Net profit margin7.58%
Net margin, latest quarter5.89%
ROE12.26%
ROCE15.45%
ROA7.87%
ROE, 3-year average12.04%
ROCE, 3-year average15.32%
ROA, 3-year average7.54%
ROE, 5-year average9.27%
ROCE, 5-year average12.20%
ROA, 5-year average5.76%
ROIC (approx.)12.17%
Tax rate24.71%
Other income / net worth2.10%
Growth
Sales growth (latest year)10.64%
Profit growth (latest year)29.51%
Sales CAGR, 3 years10.62%
Sales CAGR, 5 years14.02%
Profit CAGR, 3 years46.67%
Profit CAGR, 5 years13.69%
Sales growth QoQ4.62%
Profit growth QoQ-29.46%
Sales growth YoY (latest quarter)9.64%
Profit growth YoY (latest quarter)-1.29%
Per share
EPS (TTM)Rs 5,700.92
EPS (latest year)Rs 5,720.37
EPS (latest quarter)Rs 1,167.96
EPS, 3-year averageRs 5,014.84
EPS, 5-year averageRs 3,687.10
Book value per shareRs 49,454.97
Sales per shareRs 75,189.33
Cash flow per shareRs 10,823.26
Free cash flow per shareRs 7,460.25
Dividend per share (latest year)Rs 234.94
Dividend per share, 3-year averageRs 223.27
Dividend per share, 5-year averageRs 198.95
Dividends
Dividend payout4.11%
Dividend payout, 3-year average4.50%
Dividend payout, 5-year average6.53%
Efficiency
Asset turnover0.97x
Fixed asset turnover2.40x
Inventory turnover4.10x
Inventory days89 days
Debtor days42 days
Debtors turnover8.80x
Creditor days60 days
Cash conversion cycle83 days
Working capital days7 days
Leverage
Total debtRs 3,207 Cr
Cash and bankRs 2,183 Cr
Net debtRs 1,024 Cr
Debt to equity0.15x
Net debt / EBITDA0.19x
Interest coverage9.98x
Current ratio (filing 2026-03-31)1.65x
Quick ratio (filing 2026-03-31)1.04x
Trade payables (filing 2026-03-31)Rs 3,211 Cr
Owners' fund to total sources65.64%
Debt to assets10.04%
Cash flow
Cash from Operating Activity (latest year)Rs 4,590 Cr
Cash from Investing Activity (latest year)Rs -3,539 Cr
Cash from Financing Activity (latest year)Rs -1,120 Cr
Net Cash Flow (latest year)Rs -69 Cr
Free cash flow (latest year)Rs 3,164 Cr
FCFE (approx.: FCF + change in debt)Rs 2,600 Cr
Cash from ops / profit, 5 years1.53x
Sales to cash flow6.79x
Statement figures
Net sales (TTM)Rs 31,889 Cr
Net sales (latest year)Rs 31,149 Cr
Sales (latest quarter)Rs 8,416 Cr
Operating profit excl. other income (latest year)Rs 4,910 Cr
Operating profit (latest quarter)Rs 991 Cr
Other income (TTM)Rs 506 Cr
EBITDA (TTM)Rs 5,327 Cr
PBDT (TTM)Rs 4,971 Cr
Profit before tax (TTM)Rs 3,198 Cr
Tax (latest year)Rs 796 Cr
Net profit (TTM)Rs 2,418 Cr
Net profit (latest year)Rs 2,426 Cr
Net profit (latest quarter)Rs 495 Cr
Depreciation (TTM)Rs 1,773 Cr
Depreciation (latest quarter)Rs 448 Cr
Interest (TTM)Rs 356 Cr
Cost of goods sold (latest year)Rs 22,196 Cr
Total expenditure (latest year)Rs 26,238 Cr
Total income (latest year)Rs 31,588 Cr
Share capitalRs 4 Cr
ReservesRs 20,970 Cr
Shareholders' fundsRs 20,975 Cr
Total assetsRs 31,954 Cr
Net blockRs 12,966 Cr
Capital work in progressRs 1,034 Cr
InvestmentsRs 3,398 Cr
ReceivablesRs 3,542 Cr
InventoryRs 5,417 Cr
Other liabilitiesRs 7,772 Cr
Shares outstanding (crore)0.42
Ownership
Promoter holding27.76% (-0.02 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 21.7 is at the 20th percentile of its own 9.4-year range (median 25.1, low 17.3, high 80.6).
P/B 2.50 is at the 23th percentile (median 2.83).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMRFNifty 50Difference
1 week-0.2%-2.8% +2.6 pts
1 month-6.5%-6.8% +0.3 pts
3 months-8.1%-7.6% -0.5 pts
6 months-3.7%+0.4% -4.1 pts
1 year-17.8%-9.9% -7.8 pts
2 years-9.9%-13.6% +3.7 pts
3 years+15.3%+14.2% +1.1 pts
5 years+56.6%+27.9% +28.7 pts
92 mutual fund schemes hold about ₹4,918 Cr. Over three months 79 bought more and 4 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Aggressive Hybrid Fund2.56%2,274 +10%
Kotak Mid Cap Fund0.92%654 +10%
Kotak Flexi Cap Fund0.90%508 +13%
Kotak Flexi Cap Fund0.90%506 +13%
Edelweiss Mid Cap Fund0.95%190 +1403%
ICICI Pru Large & Mid Cap Fund0.41%138 +100%
HDFC Transportation and Logistics Fund2.85%60 +2%
UTI Large Cap Fund0.49%60 +100%
Canara Rob Mid Cap Fund0.94%49 +5%
Kotak Aggressive Hybrid Fund0.48%44 +9%
Edelweiss Aggressive Hybrid Fund1.00%40 +120%
Tata Ethical Fund0.85%33 +8%
UTI Transportation & Logistics Fund0.72%31 +4%
Bandhan Multi Cap Fund0.96%29 +11%
Motilal Oswal Nifty Midcap 150 Index Fund0.64%26 +9%
Bank of India Flexi Cap Fund0.76%22 +1%
Kotak Rural Opportunities Fund2.65%20 +17%
Bandhan Transportation and Logistics Fund2.43%19 +2%
Nippon India Nifty Midcap 150 Index Fund0.64%18 +8%
Bank of India Mfg & Infra Fund(Q1.90%18 +23%
ICICI Pru Mid Cap Fund0.16%13 +100%
Sundaram Multi-Factor Fund1.41%13 +100%
ICICI Pru Mid Cap Fund0.16%13 +100%
Bank of India Aggressive Hybrid Fund0.61%13 -6%
Bank of India Multi Cap Fund0.92%12 +98%

Red flags

F-score 8 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2021-06-30Braga Industries LLPPromotersbuy1,000Rs 8.02 CrMarket Purchase
2021-06-29Mrs.Soma PhilipsPromoterssell157Rs 1.26 CrMarket Sale
2021-06-29Braga Industries LLPPromotersbuy995Rs 7.96 CrMarket Purchase
2021-06-29Braga Industries LLPPromotersbuy5Rs 0.04 CrMarket Purchase
2021-06-28Mrs.Soma PhilipsPromoterssell1,125Rs 9.07 CrMarket Sale
2021-06-25Mrs.Soma PhilipsPromoterssell621Rs 5.01 CrMarket Sale
2021-06-24Mrs.Soma PhilipsPromoterssell97Rs 0.79 CrMarket Sale
2021-06-22Comprehensive Investment and FinanPromotersbuy325Rs 2.66 CrMarket Purchase
2021-06-22JCEE MANUFACTURING AND SERVICES PRPromotersbuy500Rs 4.10 CrMarket Purchase
2021-06-22PENINSULAR INVESTMENTS PVT LTDPromotersbuy120Rs 0.98 CrMarket Purchase
2021-06-22JCEE MANUFACTURING AND SERVICES PRPromotersbuy100Rs 0.82 CrMarket Purchase
2021-03-30Dr. Karun PhilipPromotersother2Rs 0.02 CrRevokation of Pledge
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹8,416 Cr +9.6% vs Jun 2025. Net profit ₹495 Cr -1.4%.

Activity

Compare
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Goodyear India Ltd1,62726.517.4 %
Megamont Ltd58966.823.0 %
Tolins Tyres Ltd34110.513.0 %
Modi Rubber Ltd31131,0730.71 %
Indag Rubber Ltd26519.35.07 %
Dolfin Rubbers Ltd17528.114.0 %
Emerald Tyre Manufacturers Ltd14614.212.3 %
Viaz Tyres Ltd12123.013.0 %
Innovative Tyres & Tubes Ltd621.09 %
Tirupati Innovar Limited4670.41.44 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-07-17Dividend - Rs 229 Per Share
2026-02-13Interim Dividend - Rs 3 Per Share
2025-11-21Interim Dividend - Rs 3 Per Share
2025-07-18Dividend - Rs 229 Per Share
2025-02-14Interim Dividend - Rs 3 Per Share
2024-11-19Interim Dividend - Rs 3 Per Share
2024-07-25Annual General Meeting/Dividend - Rs 194 Per Share
2024-02-21Interim Dividend - Rs 3 Per Share
2023-11-17Interim Dividend - Rs 3 Per Share
2023-07-20Annual General Meeting/Dividend - Rs 169 Per Share
2023-02-21Interim Dividend - Rs 3 Per Share
2022-11-17Interim Dividend - Rs 3 Per Share
2022-07-27Annual General Meeting/Dividend - Rs 144 Per Share
2022-02-17Interim Dividend - Rs 3 Per Share
2021-11-17 Interim Dividend - Rs 3 Per Share
2021-08-04 Annual General Meeting/Dividend - Rs 94 Per Share/Special Dividend - Rs 50 Per Share
2021-02-17 Interim Dividend - Rs 3 Per Share
2020-11-18 Interim Dividend - Rs 3 Per Share
2020-09-14 Annual General Meeting/Dividend - Rs 94 Per Share
2020-02-18 Interim Dividend - Rs 3 Per Share
2019-11-21 Interim Dividend - Rs 3 Per Share
2019-08-01 Annual General Meeting/Dividend - Rs 54 Per Share
2019-02-15 Interim Dividend - Rs 3 Per Share
2018-11-19 Interim Dividend - Rs 3 Per Share
2018-08-01 Annual General Meeting/Dividend- Rs 54 Per Share
2018-02-09 Interim Dividend Rs 3/- Per Share
2017-11-21 Interim Dividend - Rs 3/- Per Share
2017-07-27 Annual General Meeting/Dividend - Rs 54/- Per Share
2017-02-14 Interim Dividend Rs 3/- Per Share
2016-11-08 Interim Dividend Rs 3/- Per Share
2016-08-03 Annual General Meeting/ Dividend -Rs 94/- Per Share
2015-11-10 Interim Dividend - Rs 3/- Per Share
2015-08-06 Interim Dividend - Rs 3/- Per Share
2015-02-04Annual General Meeting / Final Dividend - Rs 44/- Per Share
2014-11-13Second Inerim Dividend - Rs 3/- Per Share
2014-08-06Interim Dividend - Rs 3/- Per Share
2014-01-30Annual General Meeting And Dividend Rs.24/- Per Share
2013-11-052nd Interim Dividend Rs.3/- Per Share
2013-08-06Interim Dividend - Rs 3/- Per Share
2013-01-30Annual General Meeting/Dividend Rs 19 Per Share
2012-11-072nd Interim Dividend Rs 3 Per Share
2012-08-06Interim Dividend Rs 3 Per Share
2012-01-30Dividend Rs 19 Per Share
2011-11-022nd Interim Dividend Rs.3/- Per Share
2011-08-09Interim Dividend Rs.3/- Per Share
2011-01-28Annual General Meeting/Final Dividend Rs.19/- Per Share/Special Dividend Rs.25/- Per Share
2010-11-022nd Interim Dividend-Rs.3/- Per Share
2010-08-06Interim Dividend-Rs.3/- Per Share
2010-02-25Fin Div-Rs.19/- Per Share
2009-11-052nd Int Div-Rs.3/- Pr Shr
2009-08-06Int Div-Rs.3/- Per Share
2009-03-06Agm/Dividend - 140%
2008-11-062nd Interim Dividend-30%
2008-08-08Interim Dividend - 30%
2008-03-05Agm/Final Dividend - 140%
2007-11-072nd Interim Dividend-30%
2007-08-10Int Div-Rs.3/- Per Sh
2007-03-09Agm/Final Dividend - 140%
2006-11-142nd Interim Dividend-30% Purpose Revised
2006-08-03Interim Dividend-30% Purpose Revised
2006-03-10Agm/Dividend-140%
DateTypeWhat it says
2026-08-11Press ReleaseA press release dated August 11, 2026, titled "Press release on Unaudited Financial Results for the quarter ended 30th June, 2026".
2026-08-11AppointmentAppointment of Mr. Prasanth Puliakottu, Senior General Manager - ITS, Head of the Information Technology Services function as as Senior Management Pe...
2026-08-11AppointmentAppointment of Mr. Santhosh Mathew, Senior General Manager - HRS, Head of the Human Resources & Services function as Senior Management Personnel of th...
2026-08-11Board meeting outcomeMRF Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-07Shareholder meetingVoting results.
2026-08-06Shareholder meetingProceedings of Annual General Meeting held on August 06, 2026
2026-07-15UpdatesDisclosure under Regulation 30 of the SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015.
2026-07-14Shareholder meetingNotice of Annual General Meeting to be held on August 06, 2026
2026-06-29Record DateRecord date for the purpose of Final Dividend is 17-Jul-2026.
2026-06-29General UpdatesAnnual General Meeting and Record Date
2026-06-19Disclosure under SEBI TakeovK M Mammen has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquis...
2026-06-09UpdatesCopy of newspaper Publication.
2026-05-31General UpdatesDisclosure under Regulation 30 of the SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015
2026-05-11LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-05-07Press ReleaseA press release dated May 07, 2026, titled "Press Release ".
2026-05-07General UpdatesThe Re-appointment of Joint Statutory Auditors
2026-05-07Change in Company Secretary/Change in Company Secretary/Compliance Officer
2026-05-07DividendBoard of Directors at its meeting held on May 07, 2026, recommended Final Dividend of Rs. 229 per equity share.
2026-05-07Board meeting outcomeMRF Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-08UpdatesCopy of newspaper publication.
2026-03-30Shareholder meetingProceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-03-24General UpdatesGeneral Updates
2026-03-17LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-03-04General UpdatesExecution of Non-Binding facilitation Memorandum of Understanding with the Government of Tamil Nadu
2026-02-26Shareholder meetingNotice of Postal Ballot
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-04-20NCLTAtul Gupta Vs MRF Limited
2021-02-23NCLTAtul Gupta Vs MRF Limited
2020-03-06NCLTAtul Gupta Vs MRF Limited
2020-03-06NCLTBimal Kumar Shah Vs MRF Ltd.
2017-07-21NCLATM/s MRF Limited and Others VS M/s Oriental Insurance Company Ltd. & Ors.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of MRF Ltd?

MRF Ltd (MRF) has a market capitalisation of Rs 52,200 Cr. at the 2026-10-01 close.

What is the P/E ratio of MRF Ltd?

MRF Ltd trades at a P/E of 21.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were MRF Ltd's latest quarterly results?

In the Jun 2026 quarter, MRF Ltd sales was Rs 8,416 Cr (+9.6% vs Jun 2025) and net profit was Rs 495 Cr.

What is the 52-week high and low of MRF Ltd?

The 52-week high is Rs 163,600.00 and the 52-week low is Rs 122,000.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03