MRF Share Price Target 2024-2030 Fundamentals & Quarterly Results

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.MRF Share Price Target

MRF Overview

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

MRF Shareholding Pattern

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

MRF Share Price Target 2024-2030 Forecast

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

MRF Share Price Target 2025

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

MRF Share Price Target 2026

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

MRF Share Price Target 2027

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

MRF Share Price Target 2028

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

MRF Share Price Target 2029

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

MRF Share Price Target 2030

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

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