MRF Share Price

Large Cap

₹131,237.8

-2170.95 (-1.63%)

08 October, 2024 02:41 BSE: 500290 NSE: MRF ISIN: INE883A01011

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MRF Performance

Day Range

Low 130,555
High 135,500

₹ 131,237

52 Week Range

Low 106,405
High 151,445

₹ 131,237

Open Price135,377
Previous Close133,409
Volume7958

MRF Chart

Over 1 Month -2.25%
Over 3 Month + 1.77%
Over 6 Month -3.12%
Over 1 Year + 22.02%

MRF Key Statistics

P/E Ratio	27
PEG Ratio	0.4
Market Cap Cr	55,659
Price to Book Ratio	3.3
EPS	4555.6
Dividend	0.2
Relative Strength Index	37.74
Money Flow Index	54.61
MACD Signal	417.85
Average True Range	2775.02

MRF F&O

MRF Futures MRF Option Chain

Mrf Investment Rating

Master Rating:
Mrf has an operating revenue of Rs. 25,925.37 Cr. on a trailing 12-month basis. An annual revenue growth of 10% is good, Pre-tax margin of 11% is healthy, ROE of 12% is good. The company has a reasonable debt to equity of 4%, which signals a healthy balance sheet. The stock from a technical standpoint is trading below to its 50DMA and close to its 200DMA. It needs to take out the 50DMA levels and stay above it to make any further meaningful move. It is currently FORMING a base in its weekly chart and is trading around 7% away from the crucial pivot point. From an O'Neil Methodology perspective, the stock has an EPS Rank of 42 which is a POOR score indicating inconsistency in earnings, a RS Rating of 38 which is POOR indicating the underperformance as compared to other stocks, Buyer Demand at C which is evident from recent supply seen, Group Rank of 121 indicates it belongs to a poor industry group of Auto/Truck-Tires & Misc and a Master Score of B is close to being the best. Institutional holding has declined in the last reported quarter is a negative sign. Overall, the stock has poor technical strength and poor fundamentals, there are superior stocks in the current market environment.

EPS Strength

Price Strength

Buyer Demand

Group Rank

MRF Financials

Standalone Consolidated

Quarterly P&L
Annual P&L
Balance Sheet
Cash Flow
Ratios
Quarterly P&L
Annual P&L
Balance Sheet
Cash Flow
Ratios

Indicator	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023
Oper Rev Qtr Cr	7,078	6,215	6,048	6,088	6,323	5,725
Operating Expenses Qtr Cr	5,940	5,330	5,008	4,959	5,209	4,882
Operating Profit Qtr Cr	1,138	886	1,039	1,129	1,114	843
Depreciation Qtr Cr	394	384	359	350	332	328
Interest Qtr Cr	75	86	78	75	78	84
Tax Qtr Cr	188	128	171	202	197	168
Net Profit Qtr Cr	563	380	508	572	581	411

Indicator	Mar 2024	Mar 2023
Total Revenue Annual Cr	24,986	22,826
Operating Expenses Annual Cr	20,506	20,241
Operating Profit Annual in Cr	4,168	2,337
Depreciation Cr	1,425	1,249
Interest Annual Cr	316	298
Tax Annual Cr	698	303
Net Profit Annual Cr	2,041	816

Indicator	Mar 2024	Mar 2023
Cash from Operating Activity Annual Cr	3,227	2,417
Cash from Investing Activity Annual Cr	-2,316	-1,928
Cash from Financing Annual Activity Cr	-823	-457
Net Cash Flow Annual Cr	88	32

Indicator	Mar 2024	Mar 2023
Total ShareHolders Funds Annual Cr	16,441	14,509
Fixed Assets Annual Cr	14,340	13,095
Total Non Current Assets Annual Cr	16,213	15,063
Total Current Assets Annual Cr	10,202	8,961
Total Assets Annual Cr	26,415	24,024

Indicator	Mar 2024	Mar 2023
Book Value Per Share Annual Rs	38,775	34,219
ROE Annual %	12	6
ROCE Annual %	16	8
Total Debt to Total Equity Annual	-	-
EBDIT Annual Margin %	18	11

Indicator	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023
Oper Rev Qtr Cr	7,196	6,349	6,162	6,217	6,440	5,842
Operating Expenses Qtr Cr	6,037	5,437	5,108	5,060	5,310	4,988
Operating Profit Qtr Cr	1,160	912	1,055	1,157	1,130	854
Depreciation Qtr Cr	396	385	360	351	333	330
Interest Qtr Cr	85	93	90	86	84	92
Tax Qtr Cr	192	131	173	204	198	161
Net Profit Qtr Cr	571	396	510	587	589	341

Indicator	Mar 2024	Mar 2023
Total Revenue Annual Cr	25,486	23,261
Operating Expenses Annual Cr	20,916	20,619
Operating Profit Annual in Cr	4,254	2,389
Depreciation Cr	1,430	1,253
Interest Annual Cr	353	319
Tax Annual Cr	706	301
Net Profit Annual Cr	2,081	769

Indicator	Mar 2024	Mar 2023
Cash from Operating Activity Annual Cr	3,301	2,755
Cash from Investing Activity Annual Cr	-2,379	-1,923
Cash from Financing Annual Activity Cr	-868	-840
Net Cash Flow Annual Cr	53	-8

Indicator	Mar 2024	Mar 2023
Total ShareHolders Funds Annual Cr	16,703	14,708
Fixed Assets Annual Cr	14,431	13,164
Total Non Current Assets Annual Cr	16,300	15,126
Total Current Assets Annual Cr	10,550	9,244
Total Assets Annual Cr	26,849	24,369

Indicator	Mar 2024	Mar 2023
Book Value Per Share Annual Rs	39,394	34,688
ROE Annual %	12	5
ROCE Annual %	16	8
Total Debt to Total Equity Annual	-	-
EBDIT Annual Margin %	18	11

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MRF Technicals

EMA & SMA

Current Price

₹131,237.8

-2170.95 (-1.63%)

Bullish Moving Average
___
1

Bearish Moving Average
___
15

EMA SMA

20 Day
₹136,427.54

50 Day
₹135,723.45

100 Day
₹134,190.03

200 Day
₹129,997.78

20 Day
₹136,506.46

50 Day
₹136,903.48

100 Day
₹132,743.66

200 Day
₹134,223.21

MRF Resistance and Support

PIVOT

₹132,430.96

Resistance
First Resistance	134,306.90
Second Resistance	137,375.95
Third Resistance	139,251.90

RSI	37.74
MFI	54.61
MACD Single Line	417.85
MACD	-141.96

Support
First Support	129,361.90
Second Support	127,485.95
Third Supoort	124,416.90

MRF Delivery and Volume

Period	NSE + BSE Volume Avg	NSE + BSE Delivery Volume Avg	NSE + BSE Delivery Volume %
Day	8,442	208,771	24.73
Week	7,878	238,073	30.22
1 Month	7,070	258,213	36.52
6 Month	9,410	322,776	34.3

MRF Result Highlights

MRF Synopsis

NSE-Auto/Truck-Tires & Misc

Mrf Ltd is involved in the business activities of Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres. Company’s Total Operating Revenue is Rs. 24673.68 Cr. and Equity Capital is Rs. 4.24 Cr. for the Year ended 31/03/2024. MRF Ltd. is a Public Limited Listed company incorporated on 05/11/1960 and has its registered office in the State of Tamil Nadu, India. Company’s Corporate Identification Number(CIN) is L25111TN1960PLC004306 and registration number is 004306.

Market Cap	56,579
Sales	25,428
Shares in Float	0.31
No of funds	611
Yield	0.15

Book Value	3.44
U/D Vol ratio	1.3
LTDebt / Equity	4
Alpha	0.01
Beta	0.66

MRF Shareholding Pattern

Owner Name	Jun-24	Mar-24	Dec-23	Sep-23
Promoters	27.78%	27.78%	27.75%	27.75%
Mutual Funds	6.84%	6.51%	7.34%	7%
Insurance Companies	3.74%	3.84%	3.89%	3.96%
Foreign Portfolio Investors	19.08%	19.75%	19.41%	19.58%
Financial Institutions/ Banks	0.07%	0.07%	0.07%	0.07%
Individual Investors	12.84%	12.35%	12.06%	12.15%
Others	29.65%	29.7%	29.48%	29.49%

MRF Management

Name	Designation
Mr. K M Mammen	Chairman & Managing Director
Mr. Arun Mammen	Vice Chairman & Mng.Director
Mr. Rahul Mammen Mappillai	Managing Director
Mr. Samir Thariyan Mappillai	Whole Time Director
Mr. Varun Mammen	Whole Time Director
Dr. Cibi Mammen	Director
Mrs. Ambika Mammen	Director
Mr. Ashok Jacob	Director
Mr. V Sridhar	Director
Mr. Vijay R Kirloskar	Director
Mr. Ranjit I Jesudasen	Director
Dr. Salim Joseph Thomas	Director
Mr. Jacob Kurian	Director
Mrs. Vimla Abraham	Director
Mr. Ramesh Rangarajan	Director
Mr. Dinshaw Keku Parakh	Director
Mr. Arun Vasu	Director
Mr. Vikram Chesetty	Director
Mr. Prasad Oommen	Director
Mr. Vikram Taranath Hosangady	Director

MRF Forecast

Price Estimates

2,000(9.8%)

1,758(-3.5%)

1,590(-12.7%)

Other Analyst Rating

Date	Purpose	Remarks
2024-08-08	Quarterly Results
2024-05-03	Audited Results & Final Dividend
2024-02-09	Quarterly Results & Interim Dividend
2023-11-03	Quarterly Results & Interim Dividend
2023-08-03	Quarterly Results

Date	Purpose	Remarks
2024-02-21	INTERIM	Rs.3.00 per share(30%)Second Interim Dividend
2023-11-17	INTERIM	Rs.3.00 per share(30%)Interim Dividend
2023-02-21	INTERIM	Rs.3.00 per share (30%) Second Interim Dividend
2022-11-18	INTERIM	Rs.3.00 per share(30%)Interim Dividend
2022-02-18	INTERIM	Rs.3.00 per share (30%)Second Interim Dividend

About MRF

MRF Limited, commonly known as MRF or MRF Tyres, is a renowned Indian multinational tyre manufacturing company and one of the largest tyre manufacturers in India. Headquartered in Chennai, Tamil Nadu, India, MRF is known for its wide range of rubber products, including tyres, treads, tubes, conveyor belts, paints, and toys. The company also operates the MRF Pace Foundation in Chennai and the MRF Institute of Driver Development (MIDD) in the same city.

MRF has gained international recognition for its exceptional performance in the tyre industry and has been ranked as the world's second-strongest tyre maker, boasting a AAA- brand grade. With its dedication to innovation, manufacturing excellence, and product quality, MRF has established itself as a trusted name in the automotive sector in India and globally.

MRF is renowned for offering a diverse range of products in the market, including:

● Tyres: MRF manufactures various tyres catering to different vehicles and needs. Their tyre range includes options for passenger cars, two-wheelers, trucks, buses, tractors, light commercial vehicles, off-the-road tyres, and even aeroplane tyres. Notable examples are MRF ZVTS and MRF Wanderers for cars and SUVs, MRF Meteor all-terrain tyres, and MRF Steel Muscle for trucks and buses.

● MRF ZLX: The latest addition to their product line, MRF ZLX, is well-known for providing exceptional comfort in the passenger segment.

● Conveyor Belting: MRF also produces its in-house brand of conveyor belts known as Muscleflex conveyor belts.

● Pretreads: MRF boasts one of India's most advanced pre-cured retreading systems. They entered the retreading segment in 1970 and now manufacture retreads for tyres.

● Paints: MRF develops polyurethane paint formulations and coatings for automotive, decorative, and industrial applications.

● Indigenous Aircraft Tyres: In addition to their comprehensive range, MRF manufactures indigenous aircraft tyres, including those for Su 30 MKI fighters used by the Indian Air Force.

MRF is known for its iconic logo and advertising campaigns, which have contributed to building a strong brand image in the Indian market. MRF operates multiple state-of-the-art manufacturing facilities across India, equipped with modern technologies to meet the growing demand for its products.

The History of Madras Rubber Factory

K. M. Mammen Mappillai initiated Madras Rubber Factory as a toy balloon production unit in 1946 in Tiruvottiyur, Madras (now Chennai). Later, in 1952, the company expanded its operations into manufacturing tread rubber. Subsequently, in November 1960, Madras Rubber Factory Limited was formally established as a private company. It then ventured into the production of tires in collaboration with Mansfield Tire & Rubber Company from Ohio, United States.

The company transitioned to a public entity on 1 April 1961 and took steps to develop the export market by setting up an office in Beirut, Lebanon, in 1964. During this time, the iconic logo of the muscleman was also introduced. A significant milestone occurred in 1967 when it became the first Indian company to export tires to the USA.

In 1973, MRF began producing Nylon tires. In 1978, the company collaborated with B. F. Goodrich for technical expertise. The name was changed to MRF Ltd after Mansfield Tire & Rubber Co sold its share in 1979. Additionally, MRF established a technical collaboration with Marangoni TRS SPA, Italy, for manufacturing pre-cured tread rubber for the retreading industry.

MRF provided tires for India's first modern small car, Maruti 800. In 1989, the company partnered with Hasbro International, the world's largest toymaker, and launched Funskool India. Furthermore, MRF entered agreements with Vapocure of Australia for manufacturing polyurethane paint formulations and with the Italian tire manufacturer Pirelli for conveyor and elevator belt production. In 2004–05, the company expanded its product range to include Go-kart and rally tires and tires for two/three-wheelers.

Madras Rubber Factory- Some Important Facts

● MRF was founded in 1946 in Chennai, India. It started as a small-scale manufacturer of toy balloons and latex products.
● MRF primarily produces tires for various vehicles, including cars, motorcycles, trucks, buses, and bicycles. It has earned a reputation for producing high-quality and durable tires.
● MRF has a significant international presence and exports its products to over 65 countries. It has established a strong foothold in the global tire market and is recognized as one of India's leading tire exporters.
● MRF invests in research and development to continuously improve its product quality and performance. The company's R&D centres work on developing advanced tire technologies and innovations.

Madras Rubber Factory- Awards Received

● In 2014, MRF achieved an extraordinary feat by winning the JD Power Award for an unprecedented 11th time.

● Over the years, the company has earned numerous prestigious awards and recognitions, such as the 'Highest Export Awards (Auto Tyre Sector)' from the All India Rubber Industries Association (AIRIA) and the 'Top Export Award' from the Chemicals & Allied Products Export Promotion Council (CAPEXIL) for 2009–10.

● According to the Brand Trust Report, a study conducted by Trust Research Advisory, MRF was ranked 48th among India's most trusted brands in 2014.

Today, MRF is one of India's largest and most prominent tire manufacturers and has a significant international presence. It exports its tires to numerous countries and is recognized for its excellence in manufacturing and product quality.

MRF FAQs

What is Share Price of MRF ?

MRF share price is ₹131,237 As on 08 October, 2024 | 02:27

What is the Market Cap of MRF ?

The Market Cap of MRF is ₹55659.3 Cr As on 08 October, 2024 | 02:27

What is the P/E ratio of MRF ?

The P/E ratio of MRF is 27 As on 08 October, 2024 | 02:27

What is the PB ratio of MRF ?

The PB ratio of MRF is 3.3 As on 08 October, 2024 | 02:27

MRF Key Statistics

P/E Ratio	27
PEG Ratio	0.4
Market Cap Cr	55,659
Price to Book Ratio	3.3
EPS	4555.6
Dividend	0.2
Relative Strength Index	37.74
Money Flow Index	54.61
MACD Signal	417.85
Average True Range	2775.02

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