MRF Ltd

MRF Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

MRF Ltd

₹ 96,368 -1.23%
02 Jun - close price
mrftyres.com BSE: 500290 NSE : MRF
About

Madras Rubber Factory Limited (MRF) is the parent company of the MRF Group. The Co is engaged in the business of manufacturing tyres[1]

Key Points

Products & Services
Products: The Co manufactures tyres (flagship) for Passenger cars, Two-wheelers, Three Wheelers, OTR, Trucks, Farm tractors, LCVs, Tubes & flaps, SCV, Pick up cars, MCV and ICV.
It also manufactures Sports goods, Paints & Coats and Pretreads. It also manufactures Puzzles, games, and toys for kids through its brand Funskool.
Services: T&S, Tiretok, Tyredrome, MRF Fasst, Muscle Zone, and Midd. [1] [2]

Website BSE NSE
  • Market Cap ₹ 40,860 Cr.
  • Current Price ₹ 96,368
  • High / Low ₹ 99,934 / 65,878
  • Stock P/E 53.1
  • Book Value ₹ 34,679
  • Dividend Yield 0.16 %
  • ROCE 7.94 %
  • ROE 5.35 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Stock is trading at 2.78 times its book value
  • The company has delivered a poor sales growth of 9.00% over past five years.
  • Company has a low return on equity of 6.64% over last 3 years.
  • Dividend payout has been low at 8.04% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Tyres Industry: Tyres

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
3,685 2,461 4,244 4,642 4,816 4,184 4,908 4,920 5,305 5,696 5,826 5,645 5,842
3,102 2,128 3,378 3,665 4,050 3,688 4,387 4,427 4,765 5,203 5,346 5,083 4,988
Operating Profit 583 332 867 977 766 496 521 493 540 493 481 562 854
OPM % 16% 14% 20% 21% 16% 12% 11% 10% 10% 9% 8% 10% 15%
60 44 45 64 58 93 89 70 66 34 77 71 70
Interest 72 76 55 66 77 64 58 64 67 66 75 86 92
Depreciation 267 274 285 284 298 302 297 296 311 298 309 316 330
Profit before tax 304 26 571 690 449 222 255 202 228 164 174 231 501
Tax % -123% 48% 28% 25% 26% 26% 26% 26% 28% 25% 25% 24% 32%
Net Profit 679 13 411 521 332 166 189 149 165 124 130 175 341
EPS in Rs 1,601.05 31.74 968.90 1,227.37 783.17 390.42 445.78 352.24 389.52 291.43 306.19 412.23 803.24
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Sep 2011 Sep 2012 Sep 2013 Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
9,752 11,964 12,248 13,329 20,179 13,412 14,954 16,062 16,237 16,162 19,317 23,008
8,942 10,692 10,468 11,384 15,743 10,763 12,665 13,744 13,855 13,208 17,256 20,619
Operating Profit 810 1,272 1,780 1,945 4,437 2,649 2,288 2,317 2,382 2,954 2,061 2,389
OPM % 8% 11% 15% 15% 22% 20% 15% 14% 15% 18% 11% 10%
429 32 25 63 317 327 330 416 335 205 315 253
Interest 98 159 196 232 361 257 259 273 301 282 263 319
Depreciation 248 302 374 424 737 611 707 808 982 1,141 1,205 1,253
Profit before tax 893 843 1,235 1,353 3,656 2,109 1,653 1,652 1,434 1,737 908 1,070
Tax % 31% 31% 35% 33% 31% 30% 32% 32% 1% 26% 26% 28%
Net Profit 619 579 809 908 2,509 1,486 1,132 1,131 1,423 1,277 669 769
EPS in Rs 1,458.98 1,366.16 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 1,813.09
Dividend Payout % 2% 2% 2% 2% 2% 2% 2% 2% 3% 5% 10% 10%
Compounded Sales Growth
10 Years: 7%
5 Years: 9%
3 Years: 12%
TTM: 19%
Compounded Profit Growth
10 Years: 3%
5 Years: -7%
3 Years: -18%
TTM: 16%
Stock Price CAGR
10 Years: 20%
5 Years: 5%
3 Years: 16%
1 Year: 26%
Return on Equity
10 Years: 13%
5 Years: 8%
3 Years: 7%
Last Year: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Sep 2011 Sep 2012 Sep 2013 Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
4 4 4 4 4 4 4 4 4 4 4 4
Reserves 2,290 2,857 3,651 4,535 7,220 8,637 9,734 10,833 12,210 13,409 14,028 14,704
1,600 1,708 1,599 1,903 2,464 2,333 2,163 2,506 1,854 2,388 3,229 3,014
2,439 2,659 3,023 3,391 3,566 4,075 4,577 5,098 5,373 6,780 5,799 6,648
Total Liabilities 6,333 7,228 8,278 9,833 13,254 15,048 16,478 18,441 19,442 22,582 23,060 24,369
1,972 2,919 2,974 3,436 4,608 5,502 6,092 6,786 8,870 9,441 9,522 10,118
CWIP 1,042 415 359 628 1,059 848 1,079 1,403 1,741 1,002 1,233 3,046
Investments 73 429 904 1,081 3,138 3,382 4,145 3,855 1,519 5,874 3,656 3,085
3,245 3,465 4,041 4,688 4,448 5,316 5,162 6,397 7,312 6,265 8,648 8,120
Total Assets 6,333 7,228 8,278 9,833 13,254 15,048 16,478 18,441 19,442 22,582 23,060 24,369

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Sep 2011 Sep 2012 Sep 2013 Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
634 1,034 1,499 1,699 3,043 1,956 2,413 1,253 2,271 4,325 -578 2,755
-1,111 -977 -959 -1,791 -3,408 -1,393 -2,014 -1,386 -162 -5,087 166 -1,923
486 -51 -313 67 212 -438 -453 42 -1,032 -250 424 -840
Net Cash Flow 9 6 228 -24 -152 125 -53 -91 1,077 -1,012 12 -8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Sep 2011 Sep 2012 Sep 2013 Sep 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 49 44 46 47 33 54 52 54 52 48 44 40
Inventory Days 78 72 83 79 62 118 88 113 110 115 120 98
Days Payable 52 41 47 50 36 69 63 64 72 129 60 58
Cash Conversion Cycle 75 76 83 76 58 103 78 102 90 34 104 80
Working Capital Days 49 54 50 47 17 27 16 26 21 -13 49 50
ROCE % 17% 24% 29% 27% 49% 23% 17% 15% 13% 14% 7% 8%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
27.88 27.87 27.84 27.84 27.82 27.84 27.90 27.95 27.94 27.87 27.88 27.85
6.25 7.37 12.67 13.48 14.07 14.77 14.58 15.54 16.05 16.46 18.22 18.05
18.29 18.25 15.21 14.28 13.65 12.96 12.91 11.73 12.46 12.49 11.37 11.65
47.58 46.50 44.28 44.40 44.46 44.43 44.61 44.79 43.55 43.18 42.53 42.45

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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