MRF Share Price Target 2024, 2025, 2026, 2027, 2028, 2029, 2030 Fundamentals & Quarterly Results – Madras Rubber Factory is an Indian tire company that is based in the city of Chennai in the state of Tamil Nadu. MRF, founded by K. M. Mammen Mappillai in 1946, is amongst India’s leading manufacturers and sellers of tires and exports its products worldwide as well.
Latest Update – MRF Ltd announced a 3% decrease in its consolidated net profit to Rs 571 crore for the quarter that concluded on June 2024. Last year’s corresponding figure was Rs 589 crore.
MRF Overview
Contents
MRF is the name of a company that manufactures tyres and it happens to be the parent company of the entire MRF Group.
Company Name | Madras Rubber Factory Limited |
Listed at | NSE & BSE |
Head Office | New No 114 Old No 124, Mrf House, Greams Road, Thousand Lights, Chennai, Tamil Nadu, 600006 |
Board Of Directors |
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Official Website | mrftyres.com |
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MRF Business Profile
The Company is known for manufacturing tyres for Passenger cars, Two-wheelers, Three Wheelers, OTR, Trucks, Farm tractors, LCVs, Tubes & flaps, SCV, Pick up cars, MCV and ICV among others. Other goods produced by the company include Sports goods, Paints & Coats and Pretreads. In addition, puzzles, games and toys are produced by the company for kids through its Funskool brand. Services include T&S, tiretok, Tyredrome, MRF Fasst, muscle Zone, and Midd.
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Market Position
In the year of 2021 Company has 29% share in Indian tire industry. Nevertheless, it holds the sixth rank among ten strongest brands of India.
Automobile Tyres: 90% in FY22 vs 88% in FY18.
Automobile Tubes: 6% in FY22 vs 8% in FY18.
Others: 4% in FY22 vs 4% in FY18.
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Geographical Presence
Exports accounted for 91% in FY22, By FY22 9% Exports With the sales of tires jumping up by 33% in the previous year due to the strong markets across all categories in Bangladesh, Philippines, Indonesia, Africa and Middle East.
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Manufacturing Facilities
company has nine production plants located in different parts of India including Tamil Nadu, Kerala, Andhra Pradesh, Gujarat, Goa, Puducherry and Telangana.”
The Company has four subsidiaries namely: MRF Corp Limited, MRF International Limited, MRF Lanka (P) Ltd and MRF SG PTE. LTD.
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MRF Motor Sports
MRF is the largest promoter of rallying in India; it is the only manufacturer of formula car tires, top quality rally tires on tarmac and dirt, motocross tires and FIA-CIK karting tires in the country. The MRF Challenge–a championship that features the MRF Formula 2000 car–is undoubtedly among the most prestigious racing series globally. Annually, around 20 drivers from different corners of the globe participate in MRF Challenge series.
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MRF Pace Foundation
Established in 1987, the MRF Pace Foundation is India’s international pace bowling academy that is situated with a mission of nurturing top pace bowlers for India. Moreover, the foundation has entered into agreements with oversees cricket boards like Cricket Australia, West Indies Cricket Board (WICB), England and Wales Cricket Board (ECB) among others.
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New Products
Co has launched a new car tire called the MRF Markus, which is specifically designed for luxury SUVs, while the two-wheeler tyres have introduced ZAPPER C1 TL for scooters; ZAPPER V TL for people who own Aprilia Storms and REVZ MG TL for Yamaha motorbikes. In addition, it introduces MRK-X Plus off road tires that promise increased durability as well as the MRK- E3 ones made for vehicles used to carrying heavy loads.
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MRF Fundamentals & Quarterly Results
Market Cap | ₹ 54,399 Cr. |
Current Price | ₹ 1,28,300 |
High / Low | ₹ 1,51,445 / 99,000 |
Stock P/E | 26.1 |
Book Value | ₹ 39,384 |
Dividend Yield | 0.15 % |
ROCE | 16.9 % |
ROE | 13.2 % |
Face Value | ₹ 10.0 |
Debt to Equity | 0.17 |
Debt Capacity | 0.15 |
Debt Preceding Year | ₹ 3,014 Cr. |
Debt | ₹ 2,822 Cr. |
Reserves | ₹ 16,699 Cr. |
EPS | ₹ 4,907 |
EPS Last Year | ₹ 4,907 |
Pledged Percentage | 0.09 % |
FCF Previous Annual | ₹ -535 Cr. |
EV/EBITDA | 12.4 |
Industry P/E | 27.5 |
PEG Ratio | 2.01 |
Piotroski Score | 8.00 |
Earnings Yield | 5.47 % |
Sales Growth (5 Years) | 9.40 % |
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MRF Quarterly Results
Metric | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
---|---|---|---|---|---|---|---|---|---|
Sales (₹ Cr.) | 5,305 | 5,696 | 5,826 | 5,645 | 5,842 | 6,440 | 6,217 | 6,162 | 6,349 |
Expenses (₹ Cr.) | 4,765 | 5,203 | 5,346 | 5,083 | 4,988 | 5,310 | 5,060 | 5,108 | 5,437 |
Operating Profit (₹ Cr.) | 540 | 493 | 481 | 562 | 854 | 1,130 | 1,157 | 1,055 | 912 |
OPM % | 10% | 9% | 8% | 10% | 15% | 18% | 19% | 17% | 14% |
Other Income (₹ Cr.) | 66 | 34 | 77 | 71 | 70 | 75 | 71 | 78 | 94 |
Interest (₹ Cr.) | 67 | 66 | 75 | 86 | 92 | 84 | 86 | 90 | 93 |
Depreciation (₹ Cr.) | 311 | 298 | 309 | 316 | 330 | 333 | 351 | 360 | 385 |
Profit Before Tax (₹ Cr.) | 228 | 164 | 174 | 231 | 501 | 787 | 791 | 682 | 527 |
Tax % | 28% | 25% | 25% | 24% | 32% | 25% | 26% | 25% | 25% |
Net Profit (₹ Cr.) | 165 | 124 | 130 | 175 | 341 | 589 | 587 | 510 | 396 |
EPS (₹) | 389.52 | 291.43 | 306.19 | 412.23 | 803.19 | 1,388.20 | 1,383.27 | 1,201.83 | 933.96 |
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CAGR Report
Metric | 10 Years | 5 Years | 3 Years | 1 Year/TTM |
---|---|---|---|---|
Compounded Sales Growth | 7% | 9% | 16% | 9% (TTM) |
Compounded Profit Growth | 10% | 13% | 18% | 197% (TTM) |
Stock Price CAGR | 18% | 18% | 17% | 28% (1 Year) |
Return on Equity | 12% | 9% | 8% | 13% (Last Year) |
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|
Promoters | 27.37% | 27.54% | 27.74% | 27.88% | 27.84% | 27.95% | 27.85% | 27.78% |
FIIs | 10.07% | 7.99% | 6.11% | 5.24% | 13.48% | 15.54% | 18.05% | 19.75% |
DIIs | 10.52% | 13.46% | 15.37% | 17.77% | 14.28% | 11.73% | 11.65% | 10.57% |
Public | 52.04% | 51.01% | 50.79% | 49.11% | 44.40% | 44.79% | 42.45% | 41.92% |
No. of Shareholders | 38,782 | 46,283 | 61,429 | 63,243 | 50,630 | 66,786 | 43,500 | 47,663 |
Year | Initial Target | Mid-Year Target | Year-End Target |
2024 | ₹147552.99 | ₹170020.17 | ₹183500.48 |
2025 | ₹187170 | ₹175917 | ₹209996 |
2026 | ₹214196 | ₹201320 | ₹240319 |
2027 | ₹245125 | ₹230391 | ₹275022 |
2028 | ₹280522 | ₹263659 | ₹314733 |
2029 | ₹321028 | ₹301730 | ₹360179 |
2030 | ₹367383 | ₹345299 | ₹412188 |
Month | Target |
January | ₹187170 |
February | ₹190913 |
March | ₹194731 |
April | ₹188246 |
May | ₹181977 |
June | ₹175917 |
July | ₹182954 |
August | ₹190272 |
September | ₹197883 |
October | ₹201841 |
November | ₹205878 |
December | ₹209996 |
Month | Target |
January | ₹214196 |
February | ₹218480 |
March | ₹222850 |
April | ₹215429 |
May | ₹208255 |
June | ₹201320 |
July | ₹209373 |
August | ₹217748 |
September | ₹226458 |
October | ₹230987 |
November | ₹235607 |
December | ₹240319 |
Month | Target |
January | ₹245125 |
February | ₹250028 |
March | ₹255029 |
April | ₹246537 |
May | ₹238327 |
June | ₹230391 |
July | ₹239607 |
August | ₹249191 |
September | ₹259159 |
October | ₹264342 |
November | ₹269629 |
December | ₹275022 |
Month | Target |
January | ₹280522 |
February | ₹286132 |
March | ₹291855 |
April | ₹282136 |
May | ₹272741 |
June | ₹263659 |
July | ₹274205 |
August | ₹285173 |
September | ₹296580 |
October | ₹302512 |
November | ₹308562 |
December | ₹314733 |
Month | Target |
January | ₹321028 |
February | ₹327449 |
March | ₹333998 |
April | ₹322876 |
May | ₹312124 |
June | ₹301730 |
July | ₹313799 |
August | ₹326351 |
September | ₹339405 |
October | ₹346193 |
November | ₹353117 |
December | ₹360179 |
Month | Target |
January | ₹367383 |
February | ₹374731 |
March | ₹382226 |
April | ₹369498 |
May | ₹357194 |
June | ₹345299 |
July | ₹359111 |
August | ₹373475 |
September | ₹388414 |
October | ₹396182 |
November | ₹404106 |
December | ₹412188 |
Official Website –mrftyres.com