MRF Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: May 31, 2025, 8:57 pm

Market Cap	58,895 Cr.
Current Price	1,38,865
High / Low	1,47,435/1,00,500
Stock P/E	31.5
Book Value	43,594
Dividend Yield	0.14 %
ROCE	13.6 %
ROE	10.6 %
Face Value	10.0
PEG Ratio	0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for MRF Ltd

Competitors of MRF Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
MRF Ltd	58,895 Cr.	1,38,865	1,47,435/1,00,500	31.5	43,594	0.14 %	13.6 %	10.6 %	10.0
Industry Average	58,895.00 Cr	138,865.00		31.50	43,594.00	0.14%	13.60%	10.60%	10.00

All Competitor Stocks of MRF Ltd

Quarterly Result

Metric	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Sales	5,305	5,696	5,826	5,645	5,842	6,440	6,217	6,162	6,349	7,196	6,881	7,001	7,075
Expenses	4,765	5,203	5,346	5,083	4,988	5,310	5,060	5,108	5,437	6,037	5,870	6,166	5,996
Operating Profit	540	493	481	562	854	1,130	1,157	1,055	912	1,160	1,011	835	1,079
OPM %	10%	9%	8%	10%	15%	18%	19%	17%	14%	16%	15%	12%	15%
Other Income	66	34	77	71	70	75	71	78	94	84	113	98	113
Interest	67	66	75	86	92	84	86	90	93	85	84	94	98
Depreciation	311	298	309	316	330	333	351	360	385	396	410	415	433
Profit before tax	228	164	174	231	501	787	791	682	527	763	631	424	661
Tax %	28%	25%	25%	24%	32%	25%	26%	25%	25%	25%	25%	26%	22%
Net Profit	165	124	130	175	341	589	587	510	396	571	471	315	512
EPS in Rs	389.52	291.43	306.19	412.23	803.19	1,388.20	1,383.27	1,201.83	933.96	1,346.40	1,109.85	743.79	1,207.49

Last Updated: May 31, 2025, 8:23 am

Below is a detailed analysis of the quarterly data for MRF Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Sales, as of Mar 2025, the value is 7,075.00 Cr.. The value appears strong and on an upward trend. It has increased from 7,001.00 Cr. (Dec 2024) to 7,075.00 Cr., marking an increase of 74.00 Cr..
For Expenses, as of Mar 2025, the value is 5,996.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 6,166.00 Cr. (Dec 2024) to 5,996.00 Cr., marking a decrease of 170.00 Cr..
For Operating Profit, as of Mar 2025, the value is 1,079.00 Cr.. The value appears strong and on an upward trend. It has increased from 835.00 Cr. (Dec 2024) to 1,079.00 Cr., marking an increase of 244.00 Cr..
For OPM %, as of Mar 2025, the value is 15.00%. The value appears strong and on an upward trend. It has increased from 12.00% (Dec 2024) to 15.00%, marking an increase of 3.00%.
For Other Income, as of Mar 2025, the value is 113.00 Cr.. The value appears strong and on an upward trend. It has increased from 98.00 Cr. (Dec 2024) to 113.00 Cr., marking an increase of 15.00 Cr..
For Interest, as of Mar 2025, the value is 98.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 94.00 Cr. (Dec 2024) to 98.00 Cr., marking an increase of 4.00 Cr..
For Depreciation, as of Mar 2025, the value is 433.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 415.00 Cr. (Dec 2024) to 433.00 Cr., marking an increase of 18.00 Cr..
For Profit before tax, as of Mar 2025, the value is 661.00 Cr.. The value appears strong and on an upward trend. It has increased from 424.00 Cr. (Dec 2024) to 661.00 Cr., marking an increase of 237.00 Cr..
For Tax %, as of Mar 2025, the value is 22.00%. The value appears to be improving (decreasing) as expected. It has decreased from 26.00% (Dec 2024) to 22.00%, marking a decrease of 4.00%.
For Net Profit, as of Mar 2025, the value is 512.00 Cr.. The value appears strong and on an upward trend. It has increased from 315.00 Cr. (Dec 2024) to 512.00 Cr., marking an increase of 197.00 Cr..
For EPS in Rs, as of Mar 2025, the value is 1,207.49. The value appears strong and on an upward trend. It has increased from 743.79 (Dec 2024) to 1,207.49, marking an increase of 463.70.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 15, 2025, 5:52 am

Metric	Sep 2013	Sep 2014	Mar 2016n n 18m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	12,248	13,329	20,179	13,412	14,954	16,062	16,237	16,162	19,317	23,008	25,169	28,153
Expenses	10,468	11,384	15,743	10,763	12,665	13,744	13,855	13,208	17,256	20,604	20,896	24,069
Operating Profit	1,780	1,945	4,437	2,649	2,288	2,317	2,382	2,954	2,061	2,404	4,272	4,084
OPM %	15%	15%	22%	20%	15%	14%	15%	18%	11%	10%	17%	15%
Other Income	25	63	317	327	330	416	335	205	315	245	306	408
Interest	196	232	361	257	259	273	301	282	263	326	361	360
Depreciation	374	424	737	611	707	808	982	1,141	1,205	1,253	1,430	1,654
Profit before tax	1,235	1,353	3,656	2,109	1,653	1,652	1,434	1,737	908	1,070	2,787	2,479
Tax %	35%	33%	31%	30%	32%	32%	1%	26%	26%	28%	25%	25%
Net Profit	809	908	2,509	1,486	1,132	1,131	1,423	1,277	669	769	2,081	1,869
EPS in Rs	1,906.58	2,141.71	5,916.93	3,504.33	2,668.20	2,665.82	3,354.22	3,011.15	1,577.96	1,813.04	4,907.26	4,407.54
Dividend Payout %	2%	2%	2%	2%	2%	2%	3%	5%	10%	10%	4%	5%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-23.82%	-0.09%	25.82%	-10.26%	-47.61%	14.95%	170.61%	-10.19%
Change in YoY Net Profit Growth (%)	0.00%	23.73%	25.91%	-36.08%	-37.35%	62.56%	155.66%	-180.80%

MRF Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	8%
5 Years:	12%
3 Years:	13%
TTM:	12%

Compounded Profit Growth
10 Years:	8%
5 Years:	6%
3 Years:	50%
TTM:	-5%

Stock Price CAGR
10 Years:	15%
5 Years:	17%
3 Years:	22%
1 Year:	11%

Return on Equity
10 Years:	12%
5 Years:	9%
3 Years:	10%
Last Year:	11%

Last Updated: Unknown

Balance Sheet

Last Updated: May 13, 2025, 3:04 pm

Month	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4	4	4	4	4	4	4	4	4	4	4	4
Reserves	3,651	4,535	7,220	8,637	9,734	10,833	12,210	13,409	14,028	14,703	16,699	18,484
Borrowings	1,599	1,903	2,464	2,333	2,163	2,506	1,854	2,388	3,229	3,014	2,822	3,771
Other Liabilities	3,023	3,391	3,566	4,075	4,577	5,098	5,373	6,780	5,799	6,648	7,325	7,307
Total Liabilities	8,278	9,833	13,254	15,048	16,478	18,441	19,442	22,582	23,060	24,369	26,849	29,567
Fixed Assets	2,974	3,436	4,608	5,502	6,092	6,786	8,870	9,441	9,522	10,118	12,046	13,221
CWIP	359	628	1,059	848	1,079	1,403	1,741	1,002	1,233	3,046	2,385	1,169
Investments	904	1,081	3,138	3,382	4,145	3,855	1,519	5,874	3,656	3,085	3,383	4,548
Other Assets	4,041	4,688	4,448	5,316	5,162	6,397	7,312	6,265	8,648	8,120	9,036	10,629
Total Assets	8,278	9,833	13,254	15,048	16,478	18,441	19,442	22,582	23,060	24,369	26,849	29,567

Below is a detailed analysis of the balance sheet data for MRF Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

For Equity Capital, as of Mar 2025, the value is 4.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 4.00 Cr..
For Reserves, as of Mar 2025, the value is 18,484.00 Cr.. The value appears strong and on an upward trend. It has increased from 16,699.00 Cr. (Mar 2024) to 18,484.00 Cr., marking an increase of 1,785.00 Cr..
For Borrowings, as of Mar 2025, the value is 3,771.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 2,822.00 Cr. (Mar 2024) to 3,771.00 Cr., marking an increase of 949.00 Cr..
For Other Liabilities, as of Mar 2025, the value is 7,307.00 Cr.. The value appears to be improving (decreasing). It has decreased from 7,325.00 Cr. (Mar 2024) to 7,307.00 Cr., marking a decrease of 18.00 Cr..
For Total Liabilities, as of Mar 2025, the value is 29,567.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 26,849.00 Cr. (Mar 2024) to 29,567.00 Cr., marking an increase of 2,718.00 Cr..
For Fixed Assets, as of Mar 2025, the value is 13,221.00 Cr.. The value appears strong and on an upward trend. It has increased from 12,046.00 Cr. (Mar 2024) to 13,221.00 Cr., marking an increase of 1,175.00 Cr..
For CWIP, as of Mar 2025, the value is 1,169.00 Cr.. The value appears to be declining and may need further review. It has decreased from 2,385.00 Cr. (Mar 2024) to 1,169.00 Cr., marking a decrease of 1,216.00 Cr..
For Investments, as of Mar 2025, the value is 4,548.00 Cr.. The value appears strong and on an upward trend. It has increased from 3,383.00 Cr. (Mar 2024) to 4,548.00 Cr., marking an increase of 1,165.00 Cr..
For Other Assets, as of Mar 2025, the value is 10,629.00 Cr.. The value appears strong and on an upward trend. It has increased from 9,036.00 Cr. (Mar 2024) to 10,629.00 Cr., marking an increase of 1,593.00 Cr..
For Total Assets, as of Mar 2025, the value is 29,567.00 Cr.. The value appears strong and on an upward trend. It has increased from 26,849.00 Cr. (Mar 2024) to 29,567.00 Cr., marking an increase of 2,718.00 Cr..

Notably, the Reserves (18,484.00 Cr.) exceed the Borrowings (3,771.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	1,499	1,699	3,043	1,956	2,413	1,253	2,271	4,325	-578	2,755	3,300	1,868
Cash from Investing Activity +	-959	-1,791	-3,408	-1,393	-2,014	-1,386	-162	-5,087	169	-1,922	-2,378	-2,082
Cash from Financing Activity +	-313	67	212	-438	-453	42	-1,032	-250	424	-840	-868	282
Net Cash Flow	228	-24	-152	125	-53	-91	1,077	-1,012	14	-6	55	67

Free Cash Flow

Month	Mar 2016n n 18m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2013	Sep 2014
Free Cash Flow	4.00	0.00	0.00	0.00	1.00	0.00	-1.00	-1.00	2.00	1.00	0.00	0.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Sep 2012	Sep 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	44	46	47	33	54	52	54	52	48	44	40	42
Inventory Days	72	83	79	62	118	88	113	110	115	120	98	108
Days Payable	41	47	50	36	69	63	64	72	129	60	58	64
Cash Conversion Cycle	76	83	76	58	103	78	102	90	34	104	80	86
Working Capital Days	54	50	47	17	27	16	26	21	-13	49	19	24
ROCE %	24%	29%	27%	49%	23%	17%	15%	13%	14%	6%	7%	16%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	27.95%	27.94%	27.87%	27.88%	27.85%	27.77%	27.75%	27.76%	27.78%	27.77%	27.76%	27.80%
FIIs	15.54%	16.05%	16.46%	18.22%	18.05%	18.77%	19.58%	19.41%	19.75%	19.08%	18.68%	18.20%
DIIs	11.73%	12.46%	12.49%	11.37%	11.65%	11.71%	11.19%	11.45%	10.57%	10.74%	11.68%	12.00%
Public	44.79%	43.55%	43.18%	42.53%	42.45%	41.75%	41.48%	41.39%	41.92%	42.41%	41.88%	42.02%
No. of Shareholders	66,786	56,544	48,377	41,881	43,500	37,938	37,504	37,584	47,663	57,325	48,576	52,964

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
SBI Equity Hybrid Fund	210,000	3.82	2345.34	210,000	2025-04-22 15:16:47	0%
Kotak Emerging Equity Fund - Regular Plan	36,140	1.1	403.62	36,140	2025-04-22 16:18:18	0%
Kotak Flexicap Fund - Regular Plan	33,000	0.89	368.55	33,000	2025-04-22 14:53:35	0%
Aditya Birla Sun Life India GenNext Fund	3,376	0.86	37.7	3,376	2025-04-22 16:18:18	0%
Kotak Equity Arbitrage Fund - Regular Plan	3,350	0.12	37.41	3,350	2025-04-22 16:18:18	0%
SBI Infrastructure Fund	2,300	1.62	25.69	2,300	2025-04-22 16:18:18	0%
Tata Ethical Fund - Regular Plan	1,950	1.07	21.78	1,950	2025-04-22 16:18:18	0%
Axis Quant Fund	1,531	1.76	17.1	1,531	2025-04-22 16:18:18	0%
Invesco India Arbitrage Fund	1,400	0.15	15.64	1,400	2025-04-22 16:18:18	0%
Aditya Birla Sun Life Midcap Fund	1,323	0.32	14.78	1,323	2025-04-22 16:18:18	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	4907.24	1813.10	1577.97	3011.14	3354.20
Diluted EPS (Rs.)	4907.24	1813.10	1577.97	3011.14	3354.20
Cash EPS (Rs.)	8281.13	4768.89	4420.49	5702.45	5671.91
Book Value[Excl.RevalReserv]/Share (Rs.)	39394.25	34688.25	33094.10	31636.34	28808.58
Book Value[Incl.RevalReserv]/Share (Rs.)	39394.25	34688.25	33094.10	31636.34	28808.58
Revenue From Operations / Share (Rs.)	59361.34	54265.33	45558.30	38120.73	38300.38
PBDIT / Share (Rs.)	10779.25	6230.64	5582.03	7434.62	6390.07
PBIT / Share (Rs.)	7406.67	3275.33	2739.93	4744.13	4073.28
PBT / Share (Rs.)	6574.10	2522.97	2141.34	4096.32	3382.67
Net Profit / Share (Rs.)	4908.56	1813.58	1578.40	3011.96	3355.12
NP After MI And SOA / Share (Rs.)	4908.54	1813.56	1578.37	3011.93	3355.12
PBDIT Margin (%)	18.15	11.48	12.25	19.50	16.68
PBIT Margin (%)	12.47	6.03	6.01	12.44	10.63
PBT Margin (%)	11.07	4.64	4.70	10.74	8.83
Net Profit Margin (%)	8.26	3.34	3.46	7.90	8.76
NP After MI And SOA Margin (%)	8.26	3.34	3.46	7.90	8.76
Return on Networth / Equity (%)	12.46	5.22	4.76	9.52	11.64
Return on Capital Employeed (%)	16.40	8.23	7.21	13.13	12.17
Return On Assets (%)	7.75	3.15	2.90	5.65	7.31
Long Term Debt / Equity (X)	0.04	0.05	0.05	0.06	0.06
Total Debt / Equity (X)	0.12	0.16	0.20	0.12	0.12
Asset Turnover Ratio (%)	0.98	0.97	0.83	0.76	0.85
Current Ratio (X)	1.37	1.23	1.46	1.43	1.55
Quick Ratio (X)	0.78	0.68	0.87	1.02	0.99
Inventory Turnover Ratio (X)	3.54	3.81	3.79	3.06	3.24
Dividend Payout Ratio (NP) (%)	3.56	8.27	9.50	0.00	1.78
Dividend Payout Ratio (CP) (%)	2.11	3.14	3.39	0.00	1.05
Earning Retention Ratio (%)	96.44	91.73	90.50	0.00	98.22
Cash Earning Retention Ratio (%)	97.89	96.86	96.61	0.00	98.95
Interest Coverage Ratio (X)	12.95	8.28	9.33	11.48	9.25
Interest Coverage Ratio (Post Tax) (X)	6.90	3.41	3.64	5.65	5.86
Enterprise Value (Cr.)	58246.54	37807.08	30186.42	36418.65	25023.51
EV / Net Operating Revenue (X)	2.31	1.64	1.56	2.25	1.54
EV / EBITDA (X)	12.74	14.31	12.75	11.55	9.24
MarketCap / Net Operating Revenue (X)	2.25	1.55	1.43	2.16	1.52
Retention Ratios (%)	96.43	91.72	90.49	0.00	98.21
Price / BV (X)	3.38	2.42	1.96	2.60	2.02
Price / Net Operating Revenue (X)	2.25	1.55	1.43	2.16	1.52
EarningsYield	0.03	0.02	0.02	0.03	0.05

After reviewing the key financial ratios for MRF Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 24, the value is 4,907.24. This value is within the healthy range. It has increased from 1,813.10 (Mar 23) to 4,907.24, marking an increase of 3,094.14.
For Diluted EPS (Rs.), as of Mar 24, the value is 4,907.24. This value is within the healthy range. It has increased from 1,813.10 (Mar 23) to 4,907.24, marking an increase of 3,094.14.
For Cash EPS (Rs.), as of Mar 24, the value is 8,281.13. This value is within the healthy range. It has increased from 4,768.89 (Mar 23) to 8,281.13, marking an increase of 3,512.24.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 39,394.25. It has increased from 34,688.25 (Mar 23) to 39,394.25, marking an increase of 4,706.00.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 39,394.25. It has increased from 34,688.25 (Mar 23) to 39,394.25, marking an increase of 4,706.00.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 59,361.34. It has increased from 54,265.33 (Mar 23) to 59,361.34, marking an increase of 5,096.01.
For PBDIT / Share (Rs.), as of Mar 24, the value is 10,779.25. This value is within the healthy range. It has increased from 6,230.64 (Mar 23) to 10,779.25, marking an increase of 4,548.61.
For PBIT / Share (Rs.), as of Mar 24, the value is 7,406.67. This value is within the healthy range. It has increased from 3,275.33 (Mar 23) to 7,406.67, marking an increase of 4,131.34.
For PBT / Share (Rs.), as of Mar 24, the value is 6,574.10. This value is within the healthy range. It has increased from 2,522.97 (Mar 23) to 6,574.10, marking an increase of 4,051.13.
For Net Profit / Share (Rs.), as of Mar 24, the value is 4,908.56. This value is within the healthy range. It has increased from 1,813.58 (Mar 23) to 4,908.56, marking an increase of 3,094.98.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 4,908.54. This value is within the healthy range. It has increased from 1,813.56 (Mar 23) to 4,908.54, marking an increase of 3,094.98.
For PBDIT Margin (%), as of Mar 24, the value is 18.15. This value is within the healthy range. It has increased from 11.48 (Mar 23) to 18.15, marking an increase of 6.67.
For PBIT Margin (%), as of Mar 24, the value is 12.47. This value is within the healthy range. It has increased from 6.03 (Mar 23) to 12.47, marking an increase of 6.44.
For PBT Margin (%), as of Mar 24, the value is 11.07. This value is within the healthy range. It has increased from 4.64 (Mar 23) to 11.07, marking an increase of 6.43.
For Net Profit Margin (%), as of Mar 24, the value is 8.26. This value is within the healthy range. It has increased from 3.34 (Mar 23) to 8.26, marking an increase of 4.92.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 8.26. This value is within the healthy range. It has increased from 3.34 (Mar 23) to 8.26, marking an increase of 4.92.
For Return on Networth / Equity (%), as of Mar 24, the value is 12.46. This value is below the healthy minimum of 15. It has increased from 5.22 (Mar 23) to 12.46, marking an increase of 7.24.
For Return on Capital Employeed (%), as of Mar 24, the value is 16.40. This value is within the healthy range. It has increased from 8.23 (Mar 23) to 16.40, marking an increase of 8.17.
For Return On Assets (%), as of Mar 24, the value is 7.75. This value is within the healthy range. It has increased from 3.15 (Mar 23) to 7.75, marking an increase of 4.60.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.04. This value is below the healthy minimum of 0.2. It has decreased from 0.05 (Mar 23) to 0.04, marking a decrease of 0.01.
For Total Debt / Equity (X), as of Mar 24, the value is 0.12. This value is within the healthy range. It has decreased from 0.16 (Mar 23) to 0.12, marking a decrease of 0.04.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.98. It has increased from 0.97 (Mar 23) to 0.98, marking an increase of 0.01.
For Current Ratio (X), as of Mar 24, the value is 1.37. This value is below the healthy minimum of 1.5. It has increased from 1.23 (Mar 23) to 1.37, marking an increase of 0.14.
For Quick Ratio (X), as of Mar 24, the value is 0.78. This value is below the healthy minimum of 1. It has increased from 0.68 (Mar 23) to 0.78, marking an increase of 0.10.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 3.54. This value is below the healthy minimum of 4. It has decreased from 3.81 (Mar 23) to 3.54, marking a decrease of 0.27.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 3.56. This value is below the healthy minimum of 20. It has decreased from 8.27 (Mar 23) to 3.56, marking a decrease of 4.71.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 2.11. This value is below the healthy minimum of 20. It has decreased from 3.14 (Mar 23) to 2.11, marking a decrease of 1.03.
For Earning Retention Ratio (%), as of Mar 24, the value is 96.44. This value exceeds the healthy maximum of 70. It has increased from 91.73 (Mar 23) to 96.44, marking an increase of 4.71.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 97.89. This value exceeds the healthy maximum of 70. It has increased from 96.86 (Mar 23) to 97.89, marking an increase of 1.03.
For Interest Coverage Ratio (X), as of Mar 24, the value is 12.95. This value is within the healthy range. It has increased from 8.28 (Mar 23) to 12.95, marking an increase of 4.67.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 6.90. This value is within the healthy range. It has increased from 3.41 (Mar 23) to 6.90, marking an increase of 3.49.
For Enterprise Value (Cr.), as of Mar 24, the value is 58,246.54. It has increased from 37,807.08 (Mar 23) to 58,246.54, marking an increase of 20,439.46.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 2.31. This value is within the healthy range. It has increased from 1.64 (Mar 23) to 2.31, marking an increase of 0.67.
For EV / EBITDA (X), as of Mar 24, the value is 12.74. This value is within the healthy range. It has decreased from 14.31 (Mar 23) to 12.74, marking a decrease of 1.57.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 2.25. This value is within the healthy range. It has increased from 1.55 (Mar 23) to 2.25, marking an increase of 0.70.
For Retention Ratios (%), as of Mar 24, the value is 96.43. This value exceeds the healthy maximum of 70. It has increased from 91.72 (Mar 23) to 96.43, marking an increase of 4.71.
For Price / BV (X), as of Mar 24, the value is 3.38. This value exceeds the healthy maximum of 3. It has increased from 2.42 (Mar 23) to 3.38, marking an increase of 0.96.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 2.25. This value is within the healthy range. It has increased from 1.55 (Mar 23) to 2.25, marking an increase of 0.70.
For EarningsYield, as of Mar 24, the value is 0.03. This value is below the healthy minimum of 5. It has increased from 0.02 (Mar 23) to 0.03, marking an increase of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Error: EPS data not available for calculation.

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 20.00%, which is a positive sign. The stock has a low average Working Capital Days of 28.08, which is a positive sign. The company has higher reserves (11,178.58 cr) compared to borrowings (2,503.83 cr), indicating strong financial stability. The company has shown consistent growth in sales (17.92 cr) and profit (77.00 cr) over the years.	The stock has a high average Cash Conversion Cycle of 80.83, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in MRF Ltd:
1. Net Profit Margin: 8.26%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 16.4% (Industry Average ROCE: 13.6%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 12.46% (Industry Average ROE: 10.6%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 6.9
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.78
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 31.5 (Industry average Stock P/E: 31.5)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.12
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

MRF Ltd. is a Public Limited Listed company incorporated on 05/11/1960 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L25111TN1960PLC004306 and registration number is 004306. Currently Company is involved in the business activities of Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres. Company's Total Operating Revenue is Rs. 27665.22 Cr. and Equity Capital is Rs. 4.24 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Tyres & Tubes	No. 114, Greams Road, Chennai (Madras) Tamil Nadu 600006	mrfshare@mrfmail.com http://www.mrftyres.com

Management
Name	Position Held
Mr. K M Mammen	Chairman & Managing Director
Mr. Arun Mammen	Vice Chairman & Mng.Director
Mr. Rahul Mammen Mappillai	Managing Director
Mr. Samir Thariyan Mappillai	Whole Time Director
Mr. Varun Mammen	Whole Time Director
Dr. Cibi Mammen	Director
Mrs. Ambika Mammen	Director
Mr. Ashok Jacob	Director
Mr. V Sridhar	Director
Mr. Vijay R Kirloskar	Director
Mr. Ranjit I Jesudasen	Director
Dr. Salim Joseph Thomas	Director
Mr. Jacob Kurian	Director
Mrs. Vimla Abraham	Director
Mr. Ramesh Rangarajan	Director
Mr. Dinshaw Keku Parakh	Director
Mr. Arun Vasu	Director
Mr. Vikram Chesetty	Director
Mr. Prasad Oommen	Director
Mr. Vikram Taranath Hosangady	Director

FAQ

What is the intrinsic value of MRF Ltd?

MRF Ltd's intrinsic value (as of 31 May 2025) is ₹137664.22 — 0.86% lower the current market price of 138,865.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 58,895 Cr. market cap, FY2025-2026 high/low of ₹1,47,435/1,00,500, reserves of 18,484 Cr, and liabilities of 29,567 Cr.

What is the Market Cap of MRF Ltd?

The Market Cap of MRF Ltd is 58,895 Cr..

What is the current Stock Price of MRF Ltd as on 31 May 2025?

The current stock price of MRF Ltd as on 31 May 2025 is 1,38,865.

What is the High / Low of MRF Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of MRF Ltd stocks is ₹1,47,435/1,00,500.

What is the Stock P/E of MRF Ltd?

The Stock P/E of MRF Ltd is 31.5.

What is the Book Value of MRF Ltd?

The Book Value of MRF Ltd is 43,594.

What is the Dividend Yield of MRF Ltd?

The Dividend Yield of MRF Ltd is 0.14 %.

What is the ROCE of MRF Ltd?

The ROCE of MRF Ltd is 13.6 %.

What is the ROE of MRF Ltd?

The ROE of MRF Ltd is 10.6 %.

What is the Face Value of MRF Ltd?

The Face Value of MRF Ltd is 10.0.