MRF
- Market cap
- ₹ 50,213 Cr.
- P/E
- 20.3x
- P/B
- 2.4x
- 52-week range
- 1,16,700 – 1,62,065
- ROE
- 13%
- ROCE
- 16%
- Dividend yield
- 0.2%
- Debt / equity
- 0.15
- Sector
- Auto Components
- Industry
- Tyres & Rubber Products
- Listed on
- NSE, BSE
About
MRF Limited is an India-based multinational tire maker. The Company is engaged in the manufacture of rubber products, such as tires, tubes, flaps, tread rubber. The Company's tires products include SHAKTI LIFE PLUS, SHAKTI LIFE, MUSCLEROK, SAND GRIP, STEEL MUSCLE-S3K4, MUSCLE-LIFT, PERFINZA CLX1, and others. The Company provides paints and coats, including Interior Wall Paints, Exterior Wall Paints, Primers, Multi-purpose Coatings, Wood Coating Interior, Wood Coating Exterior, and Special Coating. It offers a wide range of world-class motorsport tires for rally, circuit racing, kart-cross, student formula, go-kart and motocross competitions. The Company's subsidiaries include MRF Corp Ltd, MRF International Ltd, MRF Lanka (P) Ltd., and MRF SG PTE. LTD.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Tyres & Rubber Products: 20 companies →MRF against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)20.3 against a typical 21.1: cheaper than most peers (1st = cheapest).9th of 20
- Sales growth+9.6% against a typical +21.4% from a year earlier.13th of 16
- Profit growth−1.4% against a typical −12.9% from a year earlier.7th of 15
- Share price, 3 months−11.7% against a typical −8%.15th of 20
- Size₹ 50,213.1 Cr. market value against a typical ₹ 270.9 Cr. (1st = largest).1st of 20
Latest announcements
Exchange filings and their impact on the company.
- 7 Oct 2026Pendency of Litigation(s)/dispute(s) or the outcome impacting the CompanyLow impactPositivePrice −0.5% on 8 OctKerala sales-tax demand cut from Rs 91.5 cr to Rs 36.2 cr, trimming MRF's contingent liability.
MRF said the Deputy Commissioner State Tax, Pala has passed a rectification order for the FY 2014-15 CST assessment in Kerala. The disputed demand has been reduced from Rs 91.53 crore to Rs 36.19 crore. The company said it is examining the order dated 30 September 2026 and will challenge the remaining demand.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Highest safety
Rated AAA by CARE- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CARE | CARE AAA | Stable | 19 Oct 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 19 Oct 2026 | Reaffirmed | CARE AAA | — | CARE | ₹ 5,727.19 Cr. | |
| 28 Sep 2026 | Withdrawn | was CARE AAA | — | CARE | — | |
| 29 Sep 2025 | Reaffirmed | CARE AAA | — | CARE | ₹ 5,911.74 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 11 Aug 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 7 May 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2026 and dividend |
| 6 Feb 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended December 31, 2025 and second interim dividend, if any |
| 14 Nov 2025 | Financial Results/Dividend | To consider and approve the financial results for the period ended September 30, 2025 and dividend |
| 12 Aug 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
| 7 May 2025 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2025 and final dividend |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 6,217 | 6,162 | 6,349 | 7,196 | 6,881 | 7,001 | 7,075 | 7,676 | 7,379 | 8,050 | 8,044 | 8,416 |
| Expenses | 5,060 | 5,108 | 5,437 | 6,037 | 5,870 | 6,166 | 6,000 | 6,605 | 6,253 | 6,651 | 6,739 | 7,425 |
| Operating Profit | 1,157 | 1,055 | 912 | 1,160 | 1,011 | 835 | 1,074 | 1,070 | 1,126 | 1,400 | 1,305 | 991 |
| OPM % | 19% | 17% | 14% | 16% | 15% | 12% | 15% | 14% | 15% | 17% | 16% | 12% |
| Other Income | 71 | 78 | 94 | 84 | 113 | 98 | 115 | 129 | 108 | 50 | 153 | 195 |
| Interest | 86 | 90 | 93 | 85 | 84 | 94 | 98 | 98 | 90 | 91 | 86 | 88 |
| Depreciation | 351 | 360 | 385 | 396 | 410 | 415 | 433 | 429 | 445 | 438 | 442 | 448 |
| Profit before tax | 791 | 682 | 527 | 763 | 631 | 424 | 659 | 672 | 699 | 920 | 930 | 650 |
| Tax % | 26% | 25% | 25% | 25% | 25% | 26% | 23% | 25% | 25% | 25% | 24% | 24% |
| Net Profit | 587 | 510 | 396 | 571 | 471 | 315 | 510 | 502 | 526 | 695 | 702 | 495 |
| EPS in Rs | 1,383.27 | 1,201.83 | 933.96 | 1,346.4 | 1,109.85 | 743.79 | 1,203.7 | 1,183.23 | 1,239.4 | 1,637.78 | 1,655.82 | 1,167.98 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 4%
- 5 Years
- 14%
- 3 Years
- 11%
- TTM
- 11%
- 10 Years
- 0%
- 5 Years
- 14%
- 3 Years
- 52%
- TTM
- 37%
- 10 Years
- 14%
- 5 Years
- 11%
- 3 Years
- 7%
- TTM
- —
- 10 Years
- 11%
- 5 Years
- 10%
- 3 Years
- 12%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| MRF | ₹ 1,18,195.00 | ₹ 50,213 Cr. | 20.3x | 2.4x | 13% | — |
| Balkrishna Industries | ₹ 2,125.00 | ₹ 41,080 Cr. | 32.1x | 3.6x | 11.7% | 11.5% |
| Apollo Tyres | ₹ 384.40 | ₹ 24,342 Cr. | 13.3x | 1.6x | 8.7% | 4.8% |
| CEAT | ₹ 3,070.90 | ₹ 12,448 Cr. | 19.2x | 2.9x | — | 3.6% |
| JK Tyre & Industries | ₹ 309.60 | ₹ 8,925 Cr. | 13x | 1.9x | — | — |
| TVS Srichakra | ₹ 4,104.00 | ₹ 3,128 Cr. | 45.3x | 2.7x | 6% | 2% |
Management
- Kandathil Mammen Mammen
- Executive Chairman of the Board, Managing Director
- Arun Mammen
- Executive Vice Chairman of the Board, Managing Director
- Madhu P. Nainan
- Executive Vice President - Finance
- Thulsidass T V
- Vice President, General Counsel, Company Secretary
- Rahul Mammen Mappillai
- Managing Director, Executive Director
- Varun Mammen
- Whole-Time Director
- Samir Thariyan Mappillai
- Whole-Time Director
Prices are delayed and for information only. Nothing on this page is investment advice.