Mrf Limited (MRF) · mywealthgrid

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About

MRF manufactures tyres and rubber products for India's automotive market, serving OEM and replacement channels. With a market cap of ₹56,065.8 Cr and quarterly standalone revenue in the ₹7,200–8,400 Cr range, it operates as a large-cap player in the Consumer Discretionary sector's Auto Components industry.

Founded: 1946
Face value: ₹10

Market cap

₹51,960 Cr

P/E

21.5×

P/B

2.5×

Dividend yield

0.4%

ROE

12.3%

ROCE

16.8%

Debt / equity

0.11

OPM

15.7%

EPS (TTM)

₹5,695.9

Book value

₹49,468.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin fell to 11.44–11.77% in Jun 2026 from 17.38% in Dec 2025; verify whether raw-material costs or demand pressure drives compression
PE ratio of 23.22 with trailing OPM of 15.73%; confirm forward growth assumptions justify valuation
One-year return of −7.47% despite stable ₹7,200–8,400 Cr revenue suggests market concerns on execution or sector headwinds
Quarterly EPS ranges ₹1,118–₹1,655 without clear trend; verify if volatility stems from input-cost or volume cycles

Generated analysis · source review pending

Growth drivers

OPM fell to 11.44–11.77% in Jun 2026 from 17.38% in Dec 2025; recovery on steady ₹8,000+ Cr revenue would expand profit materially
Quarterly EPS of ₹1,100–₹1,700 across recent quarters; verify whether growth phase emerging or cyclic range-bound
ROE of 12.3% with low debt (D/E 0.11) suggests capital deployment efficiency; verify capex plans and incremental ROIC
Verify Indian vehicle-sales trends and replacement-tyre demand as key addressable market drivers

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹1,23,715.0+0.5%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low dividend payout of 8.1% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

58/100

Business quality: 53
Growth: 51
Valuation: 70

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 150 NIFTY 200 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	22,491	14,929	15,411	16,062	16,239	16,163	19,317	23,009	25,169	28,153	31,149
COGS	11,274	7,495	9,109	9,709	9,617	9,323	12,581	15,440	15,081	17,926	19,523
Gross profit	11,217	7,434	6,302	6,353	6,622	6,841	6,736	7,569	10,088	10,227	11,626
	6,795	4,794	3,974	4,048	4,248	3,898	4,686	5,180	5,835	6,143	6,725
	4,422	2,640	2,328	2,305	2,374	2,942	2,050	2,389	4,254	4,084	4,901
OPM %	19.7%	17.7%	15.1%	14.4%	14.6%	18.2%	10.6%	10.4%	16.9%	14.5%	15.7%
Depreciation	737	611	707	808	982	1,141	1,205	1,253	1,430	1,654	1,754
Interest	353	251	253	267	293	275	254	319	353	360	366
	324	331	285	422	335	210	317	253	317	408	441
Profit before tax	3,656	2,109	1,653	1,652	1,434	1,737	908	1,070	2,787	2,479	3,222
Tax	1,146	623	521	522	12	460	239	301	706	610	796
Tax %	31.4%	29.5%	31.5%	31.6%	0.8%	26.5%	26.3%	28.1%	25.3%	24.6%	24.7%
	2,509	1,486	1,132	1,131	1,423	1,277	669	769	2,081	1,869	2,426
PAT margin %	11.2%	10%	7.3%	7%	8.8%	7.9%	3.5%	3.3%	8.3%	6.6%	7.8%
EPS (₹)	5,916.9	3,504.3	2,668.2	2,665.8	3,354.2	3,011.1	1,578	1,813.1	4,907.2	4,407.5	5,720.4
EPS adjusted (₹)	5,918.5	—	—	—	—	2,927.8	1,578.4	1,744.2	4,908.6	4,408.7	5,721.9
	1.7%	1.7%	2.2%	2.3%	3%	5%	9.5%	9.7%	4.1%	5.3%	4.1%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	4	4	4	4	4	4	4
Reserves	6,852	13,409	14,028	14,703	16,699	18,484	20,970
Minority interest	—	0	0	0	0	0	0
	2,371	1,727	2,818	2,430	2,075	2,905	2,367
	3,665	7,441	6,210	7,232	8,071	8,173	8,612
Total equity & liabilities	12,891	22,582	23,060	24,369	26,849	29,567	31,954
	4,608	9,441	9,522	10,118	12,046	13,221	12,966
CWIP	1,059	1,002	1,233	3,046	2,385	1,169	1,034
Investments	2,778	5,874	3,656	3,085	3,383	4,548	3,398
	4,445	6,265	8,648	8,120	9,036	10,629	14,555
Total assets	12,891	22,582	23,060	24,369	26,849	29,567	31,954

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	39.6%	40.8%	42.3%	34.9%	32.9%	40.1%	36.3%	37.3%
EBITDA margin %	14.4%	14.6%	18.2%	10.6%	10.4%	16.9%	14.5%	15.7%
EBIT margin %	9.3%	8.6%	11.1%	4.4%	4.9%	11.2%	8.6%	10.1%
PAT margin %	7%	8.8%	7.9%	3.5%	3.3%	8.3%	6.6%	7.8%
Working capital
Receivable days	—	—	51	44	40	42	44	41
Inventory days	—	—	115	120	98	108	115	101
Payable days	—	—	135	60	58	64	57	60
NWC days	—	—	31	104	80	86	101	83
Leverage
Current ratio	—	—	1.43	1.46	1.23	1.37	1.5	1.65
Debt to EBITDA	—	—	0.59	1.37	1.02	0.49	0.71	0.48
Debt to equity	—	—	0.13	0.2	0.17	0.12	0.16	0.11
Interest coverage	7.2	5.9	7.3	4.6	4.4	8.9	7.9	10
Asset turnover	—	—	0.72	0.84	0.94	0.94	0.95	0.97
Return ratios
Return on assets %	—	—	5.7%	2.9%	3.2%	7.8%	6.3%	7.6%
Return on capital employed %	—	—	13.1%	7.4%	8.4%	17.4%	14.3%	16.8%
Return on equity %	—	—	9.5%	4.8%	5.2%	12.5%	10.1%	11.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	27.75%	27.75%	27.78%	27.78%	27.77%	27.8%	27.78%	27.78%	27.74%	27.73%	27.77%	27.77%
	19.59%	19.41%	19.74%	19.08%	18.68%	18.19%	17.54%	18.67%	18.27%	18.17%	17.98%	17.42%
	11.19%	11.46%	10.57%	10.74%	11.68%	12%	12.22%	11.67%	12.38%	12.51%	12.25%	12.1%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	41.47%	41.38%	41.91%	42.4%	41.87%	42.01%	42.46%	41.88%	41.61%	41.59%	42%	42.71%
No. of shareholders	—	—	—	—	—	—	—	—	48,074	49,218	58,110	68,876

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 14 fund houses

Held by these funds

6.96%

of the company's equity

All mutual funds

7.08%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

59 schemes · 14 fund houses

		Shares
Aggressive Hybrid FundNEW	SBI Mutual Fund	1.7 L	2,273.67	2.56%	4.048%	—
Portfolio of Kotak Mid Cap FundNEW	Kotak Mahindra Mutual Fund	48,922	654.31	0.92%	1.165%	—
Portfolio of Kotak Flexi Cap FundNEW	Kotak Mahindra Mutual Fund	38,000	508.23	0.9%	0.905%	—
Large & Mid Cap Fund	ICICI Prudential Mutual Fund	10,305	137.82	0.41%	0.245%	-0
Portfolio of Kotak Aggressive Hybrid Fund	Kotak Mahindra Mutual Fund	3,332	44.56	0.48%	0.079%	-0
ETHICAL FUND	Tata Mutual Fund	2,450	32.77	0.85%	0.058%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1,970	26.35	0.63%	0.047%	+70
ETF Nifty Midcap 150	Nippon India Mutual Fund	1,940	25.95	0.64%	0.046%	+120

1–8 of 59

1 / 8

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

14 announcementsExport CSV

29 Sept 2026, 9:22 amInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	39.6%	40.8%	42.3%	34.9%	32.9%	40.1%	36.3%	37.3%
EBITDA margin %	14.4%	14.6%	18.2%	10.6%	10.4%	16.9%	14.5%	15.7%
EBIT margin %	9.3%	8.6%	11.1%	4.4%	4.9%	11.2%	8.6%	10.1%
PAT margin %	7%	8.8%	7.9%	3.5%	3.3%	8.3%	6.6%	7.8%
Working capital
Receivable days	—	—	51	44	40	42	44	41
Inventory days	—	—	115	120	98	108	115	101
Payable days	—	—	135	60	58	64	57	60
NWC days	—	—	31	104	80	86	101	83
Leverage
Current ratio	—	—	1.43	1.46	1.23	1.37	1.5	1.65
Debt to EBITDA	—	—	0.59	1.37	1.02	0.49	0.71	0.48
Debt to equity	—	—	0.13	0.2	0.17	0.12	0.16	0.11
Interest coverage	7.2	5.9	7.3	4.6	4.4	8.9	7.9	10
Asset turnover	—	—	0.72	0.84	0.94	0.94	0.95	0.97
Return ratios
Return on assets %	—	—	5.7%	2.9%	3.2%	7.8%	6.3%	7.6%
Return on capital employed %	—	—	13.1%	7.4%	8.4%	17.4%	14.3%	16.8%
Return on equity %	—	—	9.5%	4.8%	5.2%	12.5%	10.1%	11.6%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Mrf LimitedMRFMRF	₹51,960 Cr	₹54,327 Cr	₹31,889 Cr	₹4,821 Cr	15.7%	₹2,415 Cr	7.8%	16.8%	12.3%	83
Balkrishna Industries LimitedBALKRISINDBALKRISIND	₹40,274 Cr	₹44,380 Cr	₹11,518 Cr	₹2,539 Cr	21.3%	₹1,406 Cr	11.5%	14.8%	8.2%	111
Apollo Tyres LimitedAPOLLOTYREAPOLLOTYRE	₹25,706 Cr	₹28,337 Cr	₹29,308 Cr	₹4,143 Cr	14.6%	₹1,708 Cr	4.8%	13.3%	8.7%	93
Ceat LimitedCEATLTDCEATLTD	₹13,311 Cr	₹16,322 Cr	₹16,467 Cr	₹2,024 Cr	13.1%	₹589 Cr	4.5%	20.5%	14.8%	-21
Jk Tyre & Industries LimitedJKTYREJKTYRE	₹9,812 Cr	₹14,558 Cr	₹16,404 Cr	₹1,887 Cr	12.4%	₹651 Cr	4.8%	16.8%	14.2%	90
Tvs Srichakra LimitedTVSSRICHAKTVSSRICHAK	₹3,349 Cr	₹4,111 Cr	₹3,892 Cr	₹312 Cr	7.7%	₹85 Cr	2%	9.2%	1.7%	77
Goodyear India LimitedGOODYEARGOODYEAR	₹1,604 Cr	₹1,604 Cr	₹1,792 Cr	₹217 Cr	4.5%	₹136 Cr	2.1%	12.5%	9.3%	6
Megamont LtdMEGAMONTMEGAMONT	₹562 Cr	₹565 Cr	₹0 Cr	₹0 Cr	—	₹-0 Cr	—	-1.8%	-3.2%	—
Tolins Tyres LimitedTOLINSTOLINS	₹334 Cr	₹345 Cr	₹317 Cr	₹43 Cr	14.6%	₹33 Cr	10.9%	13.5%	10.4%	400
Modi Rubber LimitedMODIRUBBERMODIRUBBER	₹299 Cr	₹319 Cr	₹35 Cr	₹-26 Cr	-75.8%	₹0 Cr	1.9%	-2.2%	0.1%	-904
Indag Rubber LtdINDAGINDAG	₹277 Cr	₹287 Cr	₹215 Cr	₹9 Cr	4.1%	₹10 Cr	3.8%	5%	4.4%	112
Dolfin Rubbers LtdDOLFINDOLFIN	₹173 Cr	₹192 Cr	₹144 Cr	₹9 Cr	5.3%	₹5 Cr	3.3%	16.8%	16.5%	122

59

Final dividend17 Jul 2026 · ex-date₹229
Interim dividend13 Feb 2026 · ex-date₹3
Interim dividend21 Nov 2025 · ex-date₹3
Final dividend18 Jul 2025 · ex-date₹229
Interim dividend14 Feb 2025 · ex-date₹3
Interim dividend19 Nov 2024 · ex-date₹3
Final dividend25 Jul 2024 · ex-date₹194
Interim dividend21 Feb 2024 · ex-date₹3
Interim dividend17 Nov 2023 · ex-date₹3
Final dividend20 Jul 2023 · ex-date₹169
Interim dividend21 Feb 2023 · ex-date₹3
Interim dividend17 Nov 2022 · ex-date₹3
Final dividend27 Jul 2022 · ex-date₹144
Interim dividend17 Feb 2022 · ex-date₹3
Interim dividend17 Nov 2021 · ex-date₹3
Final dividend4 Aug 2021 · ex-date₹94
Special dividend4 Aug 2021 · ex-date₹50
Interim dividend17 Feb 2021 · ex-date₹3
Interim dividend18 Nov 2020 · ex-date₹3
Final dividend14 Sept 2020 · ex-date₹94
Interim dividend18 Feb 2020 · ex-date₹3
Interim dividend21 Nov 2019 · ex-date₹3
Final dividend1 Aug 2019 · ex-date₹54
Interim dividend15 Feb 2019 · ex-date₹3
Interim dividend19 Nov 2018 · ex-date₹3
Final dividend1 Aug 2018 · ex-date₹54
Interim dividend9 Feb 2018 · ex-date₹3
Interim dividend21 Nov 2017 · ex-date₹3
Final dividend27 Jul 2017 · ex-date₹54
Interim dividend14 Feb 2017 · ex-date₹3
Interim dividend8 Nov 2016 · ex-date₹3
Final dividend3 Aug 2016 · ex-date₹94
Interim dividend10 Nov 2015 · ex-date₹3
Interim dividend6 Aug 2015 · ex-date₹3
Final dividend4 Feb 2015 · ex-date₹44
Interim dividend13 Nov 2014 · ex-date₹3
Interim dividend6 Aug 2014 · ex-date₹3
Final dividend30 Jan 2014 · ex-date₹24
Interim dividend5 Nov 2013 · ex-date₹3
Interim dividend6 Aug 2013 · ex-date₹3
Final dividend30 Jan 2013 · ex-date₹19
Interim dividend7 Nov 2012 · ex-date₹3
Interim dividend6 Aug 2012 · ex-date₹3
Final dividend30 Jan 2012 · ex-date₹19
Interim dividend2 Nov 2011 · ex-date₹3
Interim dividend9 Aug 2011 · ex-date₹3
Final dividend28 Jan 2011 · ex-date₹19
Special dividend28 Jan 2011 · ex-date₹25
Interim dividend2 Nov 2010 · ex-date₹3
Interim dividend6 Aug 2010 · ex-date₹3
Dividend dividend25 Feb 2010 · ex-date₹19
Interim dividend5 Nov 2009 · ex-date₹3
Interim dividend6 Aug 2009 · ex-date₹3
Final dividend6 Mar 2009 · ex-date₹14
Interim dividend6 Nov 2008 · ex-date₹3
Interim dividend8 Aug 2008 · ex-date₹3
Final dividend5 Mar 2008 · ex-date₹14
Interim dividend7 Nov 2007 · ex-date₹3
Interim dividend10 Aug 2007 · ex-date₹3

1

Board meeting to consider results11 Aug 2026

32 deals · 23 Sept 2021 – 7 Oct 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
7 Oct 2025	GOLDMAN SACHS (SINGAPORE) PTE	Block	NSE	Sell	3,195	₹1,52,350.00	₹48.68 Cr
7 Oct 2025	GOLDMAN SACHS BANK EUROPESE	Block	NSE	Buy	3,195	₹1,52,350.00	₹48.68 Cr
14 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	2,302	₹86,156.40	₹19.83 Cr
14 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	2,302	₹86,156.40	₹19.83 Cr
3 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	2,302	₹90,552.00	₹20.85 Cr
3 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	2,302	₹90,552.00	₹20.85 Cr
25 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	2,146	₹86,291.55	₹18.52 Cr
25 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	2,146	₹86,291.55	₹18.52 Cr
17 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	3,371	₹81,350.15	₹27.42 Cr
17 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	3,371	₹81,350.15	₹27.42 Cr

1–10 of 32

1 / 4

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Date	Category	Subject	Filing
29 Sept 2026, 9:22 am	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
17 Aug 2026, 5:00 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
11 Aug 2026, 1:36 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
11 Aug 2026, 12:42 pm	Company Update General	Appointment Of Senior Management Personnel Of The Company	PDF
11 Aug 2026, 12:29 pm	Result Financial Results	Unaudited Financial Results For The Quarter Ended 30Th June,2026	PDF
7 Aug 2026, 3:53 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
30 Jul 2026, 4:19 pm	Board Meeting	Board Meeting Intimation for Declaration Of Unaudited Financial Results For The Quarter Ended 30Th June, 2026	PDF
15 Jul 2026, 5:45 pm	Company Update General	Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3,043	1,956	2,413	1,253	2,271	4,325	-578	2,755	3,301	1,868	4,590
	-3,408	-1,393	-2,014	-1,386	-164	-5,086	165	-1,923	-2,379	-2,082	-3,536
	212	-438	-453	42	-1,032	-250	424	-840	-868	282	-1,120
Net cash flow	-152	125	-53	-91	1,075	-1,011	11	-8	53	67	-66
Free cash flow	736	587	846	-711	-481	3,472	-2,285	-536	1,145	560	3,156
CFO / Operating profit %	68.8%	74.1%	103.7%	54.4%	95.7%	147%	-28.2%	115.3%	77.6%	45.7%	93.7%

Mrf Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

59

1

Compounded sales growth

Compounded profit growth

Return on equity

Mrf Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Dividends59

Board meetings1

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

59

1