Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 21 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of MRF Ltd

About the Company - MRF Ltd

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 products. Company’s Total Operating Revenue is Rs. 18989.51 Cr. and Equity Capital is Rs. 4.24 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Tyres & TubesNo. 114, Greams Road, Chennai (Madras) Tamil Nadu 600006mrfshare@mrfmail.com
http://www.mrftyres.com
Management
NamePosition Held
Mr. K M MammenChairman & Managing Director
Mr. Arun MammenVice Chairman & Mng.Director
Mr. Rahul Mammen MappillaiManaging Director
Mr. Samir Thariyan MappillaiWhole Time Director
Mr. Varun MammenWhole Time Director
Dr. Cibi MammenDirector
Mrs. Ambika MammenDirector
Mr. Ashok JacobDirector
Mr. V SridharDirector
Mr. Vijay R KirloskarDirector
Mr. Ranjit I JesudasenDirector
Dr. Salim Joseph ThomasDirector
Mr. Jacob KurianDirector
Mrs. Vimla AbrahamDirector
Mr. Ramesh RangarajanDirector
Mr. Dinshaw Keku ParakhDirector
Mr. Arun VasuDirector
Mr. Vikram ChesettyDirector
Mr. Prasad OommenDirector

Basic Stock Data of MRF Ltd

Last Updated: June 19, 2024, 2:33 pm

Market Cap 53,108 Cr.
Current Price 1,25,254
High / Low1,51,445/98,880
Stock P/E25.5
Book Value 39,384
Dividend Yield0.14 %
ROCE16.9 %
ROE13.2 %
Face Value 10.0
PEG Ratio0.00

Competitors of MRF Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
TVS Srichakra Ltd 3,302 Cr. 4,3115,097/2,75528.9 1,4520.74 %10.9 %10.7 % 10.0
Apollo Tyres Ltd 30,259 Cr. 476560/36517.0 2191.26 %16.4 %13.2 % 1.00
Innovative Tyres & Tubes Ltd 10.7 Cr. 5.9510.2/2.10 0.130.00 %%% 10.0
CEAT Ltd 10,116 Cr. 2,5012,998/1,99214.9 9990.48 %20.1 %18.1 % 10.0
Birla Tyres Ltd 75.6 Cr. 5.306.01/4.22 88.20.00 %%% 10.0
Industry Average16,730.76 Cr1,565.0416.64484.050.49%12.09%11.47%6.43

MRF Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales4,6424,8164,1844,9084,9205,3055,6965,8265,6455,8426,4406,2176,162
Expenses3,6654,0503,6884,3874,4274,7655,2035,3465,0834,9885,3105,0605,108
Operating Profit9777664965214935404934815628541,1301,1571,055
OPM %21%16%12%11%10%10%9%8%10%15%18%19%17%
Other Income64589389706634777170757178
Interest66776458646766758692848690
Depreciation284298302297296311298309316330333351360
Profit before tax690449222255202228164174231501787791682
Tax %25%26%26%26%26%28%25%25%24%32%25%26%25%
Net Profit521332166189149165124130175341589587510
EPS in Rs1,227.37783.17390.42445.78352.24389.52291.43306.19412.23803.241,388.201,383.271,201.83

Last Updated: April 10, 2024, 4:14 am

MRF Ltd Quarterly Chart

MRF Ltd Profit & Loss

MonthSep 2011Sep 2012Sep 2013Sep 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales9,75211,96412,24813,32920,17913,41214,95416,06216,23716,16219,31723,00824,144
Expenses8,94210,69210,46811,38415,74310,76312,66513,74413,85513,20817,25620,60420,442
Operating Profit8101,2721,7801,9454,4372,6492,2882,3172,3822,9542,0612,4043,702
OPM %8%11%15%15%22%20%15%14%15%18%11%10%15%
Other Income429322563317327330416335205315245287
Interest98159196232361257259273301282263326348
Depreciation2483023744247376117078089821,1411,2051,2531,330
Profit before tax8938431,2351,3533,6562,1091,6531,6521,4341,7379081,0702,310
Tax %31%31%35%33%31%30%32%32%1%26%26%28%
Net Profit6195798099082,5091,4861,1321,1311,4231,2776697691,691
EPS in Rs1,458.981,366.161,906.582,141.715,916.933,504.332,668.202,665.823,354.223,011.151,577.961,813.093,986.94
Dividend Payout %2%2%2%2%2%2%2%2%3%5%10%10%

MRF Ltd Profit & Loss Yearly Chart

MRF Ltd Growth

Compounded Sales Growth
10 Years:7%
5 Years:9%
3 Years:16%
TTM:9%
Compounded Profit Growth
10 Years:10%
5 Years:13%
3 Years:18%
TTM:197%
Stock Price CAGR
10 Years:18%
5 Years:18%
3 Years:15%
1 Year:26%
Return on Equity
10 Years:12%
5 Years:9%
3 Years:8%
Last Year:13%

Last Updated: June 16, 2024, 5:03 pm

MRF Ltd Balance Sheet

MonthSep 2011Sep 2012Sep 2013Sep 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital4444444444444
Reserves2,2902,8573,6514,5357,2208,6379,73410,83312,21013,40914,02814,70315,827
Borrowings1,6001,7081,5991,9032,4642,3332,1632,5061,8542,3883,2293,0143,135
Other Liabilities2,4392,6593,0233,3913,5664,0754,5775,0985,3736,7805,7996,6486,842
Total Liabilities6,3337,2288,2789,83313,25415,04816,47818,44119,44222,58223,06024,36925,809
Fixed Assets1,9722,9192,9743,4364,6085,5026,0926,7868,8709,4419,52210,11810,980
CWIP1,0424153596281,0598481,0791,4031,7411,0021,2333,0463,173
Investments734299041,0813,1383,3824,1453,8551,5195,8743,6563,0853,208
Other Assets3,2453,4654,0414,6884,4485,3165,1626,3977,3126,2658,6488,1208,447
Total Assets6,3337,2288,2789,83313,25415,04816,47818,44119,44222,58223,06024,36925,809

MRF Ltd Reserves and Borrowings Chart

MRF Ltd Cash Flow

MonthSep 2011Sep 2012Sep 2013Sep 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 6341,0341,4991,6993,0431,9562,4131,2532,2714,325-5782,755
Cash from Investing Activity -1,111-977-959-1,791-3,408-1,393-2,014-1,386-162-5,087169-1,922
Cash from Financing Activity 486-51-31367212-438-45342-1,032-250424-840
Net Cash Flow96228-24-152125-53-911,077-1,01214-6

MRF Ltd Financial Efficiency Indicators

MonthSep 2012Sep 2013Sep 2014Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days444647335452545248444042
Inventory Days728379621188811311011512098108
Days Payable4147503669636472129605864
Cash Conversion Cycle768376581037810290341048086
Working Capital Days5450471727162621-13491957
ROCE %24%29%27%49%23%17%15%13%14%6%7%

MRF Ltd Financial Efficiency Indicators Chart

MRF Ltd Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters27.82%27.84%27.90%27.95%27.94%27.87%27.88%27.85%27.77%27.75%27.76%27.78%
FIIs14.07%14.77%14.58%15.54%16.05%16.46%18.22%18.05%18.77%19.58%19.41%19.75%
DIIs13.65%12.96%12.91%11.73%12.46%12.49%11.37%11.65%11.71%11.19%11.45%10.57%
Public44.46%44.43%44.61%44.79%43.55%43.18%42.53%42.45%41.75%41.48%41.39%41.92%
No. of Shareholders55,80354,44662,40666,78656,54448,37741,88143,50037,93837,50437,58447,663

MRF Ltd Shareholding Pattern Chart

No. of MRF Ltd Shareholders

MRF Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Equity Hybrid Fund210,0003.822345.341,3232024-06-2015773.02%
Kotak Emerging Equity Fund - Regular Plan36,1401.1403.621,3232024-06-202631.67%
Kotak Flexicap Fund - Regular Plan33,0000.89368.551,3232024-06-202394.33%
Aditya Birla Sun Life India GenNext Fund3,3760.8637.71,3232024-06-20155.18%
Kotak Equity Arbitrage Fund - Regular Plan3,3500.1237.411,3232024-06-20153.21%
SBI Infrastructure Fund2,3001.6225.691,3232024-06-2073.85%
Tata Ethical Fund - Regular Plan1,9501.0721.781,3232024-06-2047.39%
Axis Quant Fund1,5311.7617.11,3232024-06-2015.72%
Invesco India Arbitrage Fund1,4000.1515.641,3232024-06-205.82%
Aditya Birla Sun Life Midcap Fund1,3230.3214.781,3232024-06-200%

MRF Ltd ROCE Trend

MRF Ltd EPS Trend

MRF Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)4907.241813.101577.973011.143354.20
Diluted EPS (Rs.)4907.241813.101577.973011.143354.20
Cash EPS (Rs.)8281.134768.894420.495702.455671.91
Book Value[Excl.RevalReserv]/Share (Rs.)39394.2534688.2533094.1031636.3428808.58
Book Value[Incl.RevalReserv]/Share (Rs.)39394.2534688.2533094.1031636.3428808.58
Revenue From Operations / Share (Rs.)59361.3454265.3345558.3038120.7338300.38
PBDIT / Share (Rs.)10779.256230.645582.037434.626390.07
PBIT / Share (Rs.)7406.673275.332739.934744.134073.28
PBT / Share (Rs.)6574.102522.972141.344096.323382.67
Net Profit / Share (Rs.)4908.561813.581578.403011.963355.12
NP After MI And SOA / Share (Rs.)4908.561813.561578.373011.933355.12
PBDIT Margin (%)18.1511.4812.2519.5016.68
PBIT Margin (%)12.476.036.0112.4410.63
PBT Margin (%)11.074.644.7010.748.83
Net Profit Margin (%)8.263.343.467.908.76
NP After MI And SOA Margin (%)8.263.343.467.908.76
Return on Networth / Equity (%)12.465.224.769.5211.64
Return on Capital Employeed (%)16.408.237.2113.1312.17
Return On Assets (%)7.753.152.905.657.31
Long Term Debt / Equity (X)0.040.050.050.060.06
Total Debt / Equity (X)0.120.160.200.120.12
Asset Turnover Ratio (%)0.980.950.830.760.85
Current Ratio (X)1.371.231.461.431.55
Quick Ratio (X)0.780.680.871.020.99
Inventory Turnover Ratio (X)3.543.803.793.063.24
Dividend Payout Ratio (NP) (%)0.008.279.500.001.78
Dividend Payout Ratio (CP) (%)0.003.143.390.001.05
Earning Retention Ratio (%)0.0091.7390.500.0098.22
Cash Earning Retention Ratio (%)0.0096.8696.610.0098.95
Interest Coverage Ratio (X)12.958.289.3311.489.25
Interest Coverage Ratio (Post Tax) (X)6.903.413.645.655.86
Enterprise Value (Cr.)58246.5437807.0830186.4236418.6525023.51
EV / Net Operating Revenue (X)2.311.641.562.251.54
EV / EBITDA (X)12.7414.3112.7511.559.24
MarketCap / Net Operating Revenue (X)2.251.551.432.161.52
Retention Ratios (%)0.0091.7290.490.0098.21
Price / BV (X)3.382.421.962.602.02
Price / Net Operating Revenue (X)2.251.551.432.161.52
EarningsYield0.030.020.020.030.05

MRF Ltd Profitability Ratios (%)

MRF Ltd Liquidity Ratios

MRF Ltd Liquidity Ratios (%)

MRF Ltd Interest Coverage Ratios (%)

MRF Ltd Valuation Ratios

Fair Value

Fair Value: 132,752.14

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 5.99% compared to the current price 125254

Intrinsic Value: 132,752.14

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 5.99% compared to the current price ₹125254

Last 5 Year EPS CAGR: 0.00%

*Investments are subject to market risks

Strength and Weakness of MRF Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 18.67%, which is a positive sign.
  2. The company has higher reserves (9,225.69 cr) compared to borrowings (2,299.69 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (15.85 cr) and profit (204.46 cr) over the years.
  1. The stock has a high average Working Capital Days of 30.83, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 80.83, which may not be favorable.

FAQ

What is the latest fair value of MRF Ltd?

The latest fair value of MRF Ltd is ₹132752.14.

What is the Market Cap of MRF Ltd?

The Market Cap of MRF Ltd is 53,108 Cr..

What is the current Stock Price of MRF Ltd as on 21 June 2024?

The current stock price of MRF Ltd as on 21 June 2024 is ₹1,25,254.

What is the High / Low of MRF Ltd stocks in FY 2024?

In FY 2024, the High / Low of MRF Ltd stocks is 1,51,445/98,880.

What is the Stock P/E of MRF Ltd?

The Stock P/E of MRF Ltd is 25.5.

What is the Book Value of MRF Ltd?

The Book Value of MRF Ltd is 39,384.

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 16.9 %.

What is the ROE of MRF Ltd?

The ROE of MRF Ltd is 13.2 %.

What is the Face Value of MRF Ltd?

The Face Value of MRF Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in MRF Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE