MRF Ltd
MRF Ltd is Indias largest tyre manufacturer and ranked amongst the Top 20 Global Manufacturers, with 9 state-of-the-art factories across India. It is also Indias largest Original Equipment Manufacturer (OEM) tyre supplier with an expansive tyre range from two-wheelers to fighter aircrafts.
- Market Cap ₹ 37,593 Cr.
- Current Price ₹ 88,662
- High / Low ₹ 98,600 / 49,915
- Stock P/E 23.2
- Book Value ₹ 29,654
- Dividend Yield 0.11 %
- ROCE 12.6 %
- ROE 12.3 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Stock is trading at 2.99 times its book value
- The company has delivered a poor sales growth of 4.03% over past five years.
- Tax rate seems low
- Company has a low return on equity of 11.84% for last 3 years.
- Dividend payout has been low at 2.49% of profits over last 3 years
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|
3,883 | 3,947 | 4,095 | 4,138 | 4,471 | 4,008 | 4,076 | 3,685 | 2,461 | 4,244 | 4,642 | |
3,298 | 3,381 | 3,524 | 3,554 | 3,858 | 3,451 | 3,454 | 3,102 | 2,128 | 3,378 | 3,665 | |
Operating Profit | 585 | 566 | 571 | 583 | 612 | 556 | 622 | 583 | 332 | 867 | 977 |
OPM % | 15% | 14% | 14% | 14% | 14% | 14% | 15% | 16% | 14% | 20% | 21% |
Other Income | 72 | 112 | 126 | 112 | 106 | 95 | 74 | 60 | 44 | 45 | 64 |
Interest | 66 | 69 | 71 | 62 | 72 | 72 | 77 | 72 | 76 | 55 | 66 |
Depreciation | 187 | 200 | 206 | 215 | 228 | 238 | 249 | 267 | 274 | 285 | 284 |
Profit before tax | 404 | 409 | 421 | 418 | 418 | 342 | 370 | 304 | 26 | 571 | 690 |
Tax % | 34% | 32% | 31% | 30% | 35% | 33% | 35% | -123% | 48% | 28% | 25% |
Net Profit | 268 | 278 | 291 | 294 | 273 | 229 | 241 | 679 | 13 | 411 | 521 |
EPS in Rs | 630.87 | 656.17 | 685.74 | 693.05 | 644.34 | 539.86 | 569.00 | 1,601.05 | 31.74 | 968.90 | 1,227.37 |
Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Sep 2008 | Sep 2009 | Sep 2010 | Sep 2011 | Sep 2012 | Sep 2013 | Sep 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5,049 | 5,667 | 7,459 | 9,752 | 11,964 | 12,248 | 13,329 | 20,179 | 13,412 | 14,954 | 16,062 | 16,237 | 15,032 | |
4,643 | 4,985 | 6,625 | 8,942 | 10,692 | 10,468 | 11,386 | 15,749 | 10,763 | 12,666 | 13,750 | 13,855 | 12,273 | |
Operating Profit | 406 | 681 | 834 | 810 | 1,272 | 1,780 | 1,943 | 4,430 | 2,649 | 2,287 | 2,311 | 2,382 | 2,759 |
OPM % | 8% | 12% | 11% | 8% | 11% | 15% | 15% | 22% | 20% | 15% | 14% | 15% | 18% |
Other Income | 41 | 34 | 29 | 429 | 32 | 25 | 66 | 324 | 328 | 331 | 422 | 335 | 212 |
Interest | 66 | 69 | 63 | 98 | 159 | 196 | 232 | 361 | 257 | 259 | 273 | 301 | 270 |
Depreciation | 170 | 250 | 262 | 248 | 302 | 374 | 424 | 737 | 611 | 707 | 808 | 982 | 1,109 |
Profit before tax | 210 | 396 | 538 | 893 | 843 | 1,235 | 1,353 | 3,656 | 2,109 | 1,653 | 1,652 | 1,434 | 1,592 |
Tax % | 32% | 37% | 34% | 31% | 31% | 35% | 33% | 31% | 30% | 32% | 32% | 1% | |
Net Profit | 143 | 251 | 358 | 619 | 579 | 809 | 908 | 2,509 | 1,486 | 1,132 | 1,131 | 1,423 | 1,624 |
EPS in Rs | 338.21 | 591.31 | 842.94 | 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 | 3,829.06 |
Dividend Payout % | 6% | 4% | 6% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 3% |
Compounded Sales Growth | |
---|---|
10 Years: | 11% |
5 Years: | 4% |
3 Years: | 7% |
TTM: | -10% |
Compounded Profit Growth | |
---|---|
10 Years: | 19% |
5 Years: | 9% |
3 Years: | -2% |
TTM: | 57% |
Stock Price CAGR | |
---|---|
10 Years: | 31% |
5 Years: | 21% |
3 Years: | 8% |
1 Year: | 34% |
Return on Equity | |
---|---|
10 Years: | 18% |
5 Years: | 17% |
3 Years: | 12% |
Last Year: | 12% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Sep 2008 | Sep 2009 | Sep 2010 | Sep 2011 | Sep 2012 | Sep 2013 | Sep 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Sep 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | |
Reserves | 1,113 | 1,351 | 1,684 | 2,290 | 2,857 | 3,651 | 4,535 | 7,220 | 8,637 | 9,734 | 10,833 | 12,210 | 12,572 |
Borrowings | 1,249 | 672 | 1,354 | 1,600 | 1,708 | 1,599 | 1,903 | 2,464 | 2,333 | 2,163 | 2,506 | 1,854 | 1,949 |
1,006 | 735 | 964 | 2,439 | 2,659 | 3,023 | 3,391 | 3,566 | 4,075 | 4,577 | 5,098 | 5,373 | 6,501 | |
Total Liabilities | 3,372 | 2,763 | 4,007 | 6,333 | 7,228 | 8,278 | 9,833 | 13,254 | 15,048 | 16,478 | 18,441 | 19,442 | 21,026 |
870 | 936 | 1,331 | 1,972 | 2,919 | 2,974 | 3,436 | 4,608 | 5,502 | 6,092 | 6,786 | 8,870 | 9,051 | |
CWIP | 444 | 285 | 498 | 1,042 | 415 | 359 | 628 | 1,059 | 848 | 1,079 | 1,403 | 1,741 | 1,445 |
Investments | 64 | 144 | 73 | 73 | 429 | 904 | 1,081 | 3,138 | 3,382 | 4,145 | 3,855 | 1,519 | 844 |
1,994 | 1,397 | 2,106 | 3,245 | 3,465 | 4,041 | 4,688 | 4,448 | 5,316 | 5,162 | 6,397 | 7,312 | 9,686 | |
Total Assets | 3,372 | 2,763 | 4,007 | 6,333 | 7,228 | 8,278 | 9,833 | 13,254 | 15,048 | 16,478 | 18,441 | 19,442 | 21,026 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Sep 2008 | Sep 2009 | Sep 2010 | Sep 2011 | Sep 2012 | Sep 2013 | Sep 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
270 | 847 | 158 | 634 | 1,034 | 1,499 | 1,699 | 3,043 | 1,956 | 2,413 | 1,253 | 2,273 | |
-567 | -232 | -786 | -1,111 | -977 | -959 | -1,791 | -3,408 | -1,393 | -2,014 | -1,386 | -164 | |
326 | -657 | 614 | 486 | -51 | -313 | 67 | 212 | -438 | -453 | 42 | -1,032 | |
Net Cash Flow | 29 | -42 | -14 | 9 | 6 | 228 | -24 | -152 | 125 | -53 | -91 | 1,077 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Sep 2008 | Sep 2009 | Sep 2010 | Sep 2011 | Sep 2012 | Sep 2013 | Sep 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ROCE % | 13% | 21% | 23% | 17% | 24% | 29% | 27% | 49% | 23% | 17% | 15% | 13% |
Debtor Days | 44 | 37 | 39 | 49 | 44 | 46 | 47 | 33 | 54 | 52 | 54 | 52 |
Inventory Turnover | 4.47 | 4.88 | 6.13 | 5.72 | 5.65 | 4.92 | 5.01 | 6.50 | 3.73 | 4.22 | 4.04 | 3.51 |
Documents
Add documentRecent announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 2 Mar
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 17 Feb
- Corporate Action-Board approves Dividend 11 Feb
- Announcement under Regulation 30 (LODR)-Raising of Funds 11 Feb
- Unaudited Financial Results (Standalone And Consolidated) For The Quarter And Nine Months Ended 31St December, 2020 11 Feb
View all
Annual reports
- Financial Year 2020 from bse
- Financial Year 2019 from bse
- Financial Year 2018 from bse
- Financial Year 2017 from bse
- Financial Year 2016 from bse
- Financial Year 2014 from bse
- Financial Year 2013 from bse
- Financial Year 2012 from bse
- Financial Year 2011 from bse
- Financial Year 2011 from nse
- Financial Year 2010 from bse
- Financial Year 2010 from nse
- Financial Year 2009 from nse