MRF

MRF Limited

Tyres, tubes, flaps, and tread rubber for automotive original-equipment and replacement markets

Consumer Discretionary›Automobile and Auto Components›Auto Components›Tyres & Rubber Products

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Key metrics

Price as of 2026-10-16

Stock price
₹122790.00
Market cap
52,077 Cr
Stock P/E
21.6
P/B
2.48
Dividend yield
0.2%
ROE (FY26)
11.6%
ROCE (FY26)
15.4%
Operating margin (FY26)
10.1%
Debt / equity (FY26)
0.11
OCF / EBITDA (FY26)
93.7%
OCF / EBITDA (3Y)
73.7%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

MRF makes tyres, tubes, flaps and tread rubber, sold to vehicle makers (original equipment), through the replacement market and as exports.

Company snapshot

1stBy market cap

Ranked among 8 companies in Tyres & Rubber Products.

What we see

Positives
  • ✓Debt-to-equity of 0.11x — the company is largely funded by its own money, not borrowed funds.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales6,217 Cr6,162 Cr6,349 Cr7,196 Cr6,881 Cr7,001 Cr7,075 Cr7,676 Cr7,379 Cr8,050 Cr8,044 Cr8,416 Cr
Operating expenses (approx.)5,060 Cr5,108 Cr5,437 Cr6,037 Cr5,870 Cr6,166 Cr5,996 Cr6,604 Cr6,253 Cr6,651 Cr6,739 Cr7,425 Cr
EBITDA1,157 Cr1,055 Cr912 Cr1,160 Cr1,011 Cr835 Cr1,079 Cr1,071 Cr1,126 Cr1,399 Cr1,305 Cr991 Cr
OPM %18.6%17.1%14.4%16.1%14.7%11.9%15.2%14.0%15.3%17.4%16.2%11.8%
Other income71 Cr78 Cr94 Cr84 Cr113 Cr98 Cr113 Cr126 Cr108 Cr125 Cr139 Cr195 Cr
Interest86 Cr90 Cr93 Cr85 Cr84 Cr94 Cr98 Cr98 Cr90 Cr91 Cr86 Cr88 Cr
Depreciation351 Cr360 Cr385 Cr396 Cr410 Cr415 Cr433 Cr429 Cr445 Cr438 Cr442 Cr448 Cr
Profit before tax791 Cr682 Cr527 Cr763 Cr631 Cr424 Cr661 Cr670 Cr699 Cr917 Cr930 Cr650 Cr
Tax %25.8%25.3%24.9%25.2%25.4%25.6%22.5%25.4%24.8%24.6%24.5%23.8%
Net profit587 Cr510 Cr396 Cr571 Cr471 Cr315 Cr512 Cr500 Cr526 Cr692 Cr702 Cr495 Cr
EPS (₹)₹1383.26₹1201.81₹933.97₹1346.38₹1109.85₹743.80₹1207.48₹1180.04₹1239.38₹1631.23₹1655.80₹1167.97

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales14,929 Cr15,411 Cr16,062 Cr16,239 Cr16,163 Cr19,317 Cr23,009 Cr25,169 Cr28,153 Cr31,149 CrSign in free for the trailing twelve months
Operating expenses (approx.)12,289 Cr13,083 Cr13,757 Cr13,865 Cr13,221 Cr17,267 Cr20,619 Cr20,916 Cr24,069 Cr26,248 CrSign in free for the trailing twelve months
EBITDA2,640 Cr2,328 Cr2,305 Cr2,374 Cr2,942 Cr2,050 Cr2,389 Cr4,254 Cr4,084 Cr4,901 CrSign in free for the trailing twelve months
OPM %17.7%15.1%14.4%14.6%18.2%10.6%10.4%16.9%14.5%15.7%Sign in free for the trailing twelve months
Other income331 Cr285 Cr422 Cr335 Cr210 Cr317 Cr253 Cr317 Cr408 Cr505 CrSign in free for the trailing twelve months
Interest251 Cr253 Cr267 Cr293 Cr275 Cr254 Cr319 Cr353 Cr360 Cr366 CrSign in free for the trailing twelve months
Depreciation611 Cr707 Cr808 Cr982 Cr1,141 Cr1,205 Cr1,253 Cr1,430 Cr1,654 Cr1,754 CrSign in free for the trailing twelve months
Profit before tax2,109 Cr1,653 Cr1,652 Cr1,434 Cr1,737 Cr908 Cr1,070 Cr2,787 Cr2,479 Cr3,222 CrSign in free for the trailing twelve months
Tax %29.5%31.5%31.6%0.8%26.5%26.3%28.1%25.3%24.6%24.7%Sign in free for the trailing twelve months
Net profit1,486 Cr1,132 Cr1,131 Cr1,423 Cr1,277 Cr669 Cr769 Cr2,081 Cr1,869 Cr2,426 CrSign in free for the trailing twelve months
EPS (₹)₹3504.29₹2668.17₹2665.82₹3354.20₹3011.14₹1577.97₹1813.10₹4907.24₹4407.51₹5720.39Sign in free for the trailing twelve months
Dividend payout %————3.3%9.5%8.3%3.6%4.5%4.1%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr
Reserves8,637 Cr9,734 Cr10,833 Cr12,210 Cr13,409 Cr14,028 Cr14,703 Cr16,699 Cr18,484 Cr20,970 Cr
Borrowings2,072 Cr2,008 Cr2,102 Cr1,510 Cr1,727 Cr2,818 Cr2,430 Cr2,075 Cr2,905 Cr2,367 Cr
Other liabilities4,335 Cr4,732 Cr5,501 Cr5,717 Cr7,441 Cr6,210 Cr7,232 Cr8,071 Cr8,173 Cr8,612 Cr
Total liabilities15,048 Cr16,478 Cr18,441 Cr19,442 Cr22,582 Cr23,060 Cr24,369 Cr26,849 Cr29,567 Cr31,954 Cr
Fixed assets (net)5,489 Cr6,075 Cr6,770 Cr8,841 Cr9,416 Cr9,501 Cr10,092 Cr12,020 Cr13,199 Cr12,945 Cr
CWIP848 Cr1,079 Cr1,403 Cr1,741 Cr1,002 Cr1,233 Cr3,046 Cr2,385 Cr1,169 Cr1,034 Cr
Investments3,382 Cr4,145 Cr3,855 Cr1,519 Cr5,874 Cr3,656 Cr3,085 Cr3,383 Cr4,548 Cr3,398 Cr
Loans & advances———3 Cr7 Cr3 Cr3 Cr6 Cr5 Cr4 Cr
Inventories2,425 Cr2,197 Cr2,993 Cr2,905 Cr2,939 Cr4,130 Cr4,141 Cr4,469 Cr5,625 Cr5,417 Cr
Trade receivables1,969 Cr2,150 Cr2,383 Cr2,299 Cr2,254 Cr2,333 Cr2,503 Cr2,912 Cr3,370 Cr3,542 Cr
Cash & bank247 Cr193 Cr102 Cr1,179 Cr167 Cr179 Cr249 Cr303 Cr371 Cr305 Cr
Other assets689 Cr640 Cr935 Cr955 Cr923 Cr2,025 Cr1,251 Cr1,372 Cr1,280 Cr5,311 Cr
Total assets15,048 Cr16,478 Cr18,441 Cr19,442 Cr22,582 Cr23,060 Cr24,369 Cr26,849 Cr29,567 Cr31,954 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity1,956 Cr2,426 Cr1,253 Cr2,273 Cr4,325 Cr-578 Cr2,755 Cr3,301 Cr1,868 Cr4,590 Cr
Cash from investing-1,393 Cr-2,026 Cr-1,386 Cr-164 Cr-5,086 Cr165 Cr-1,923 Cr-2,379 Cr-2,082 Cr-3,536 Cr
Cash from financing-438 Cr-453 Cr42 Cr-1,032 Cr-250 Cr424 Cr-840 Cr-868 Cr282 Cr-1,120 Cr
Net cash flow125 Cr-53 Cr-91 Cr1,077 Cr-1,012 Cr12 Cr-6 Cr55 Cr68 Cr-69 Cr
Free cash flow (OCF − Capex)587 Cr859 Cr-711 Cr-480 Cr3,472 Cr-2,285 Cr-536 Cr1,145 Cr560 Cr3,156 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %22.0%16.2%14.8%12.6%13.3%6.9%8.1%16.7%13.3%15.4%
ROE %17.2%11.6%10.4%11.6%9.5%4.8%5.2%12.5%10.1%11.6%
Debtor days48515452514440424441
Inventory days1158910611111911296107111104
Days payable676460731405656645662
Cash conversion cycle967699903010079869984
OCF / EBITDA %74.1%104.2%54.3%95.7%147.0%-28.2%115.3%77.6%45.7%93.7%
OCF / EBITDA % (3 years)——77.5%84.9%103.0%81.7%88.1%63.0%73.9%73.7%
Debt / equity0.240.210.190.120.130.200.170.120.160.11
Current ratio———1.551.431.461.231.371.501.65
Net debt / EBITDA0.690.780.870.140.531.290.910.420.620.42