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    MRF Limited

    India's largest tyre maker, spanning two-wheelers to heavy vehicles, plus paints and motorsports tyres.

    Automobile and Auto Components
    Consumer Discretionary
    ₹1,30,695
    +1.45% from avg

    Overview

    Price

    ₹1,30,695

    Market Cap

    ₹56.5k Cr

    Sector

    Automobile and Auto Components

    Consumer Discretionary

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital44444444
    Reserves12.2k13.4k14.0k14.7k16.7k18.6k19.4k21.0k
    Borrowings1.9k2.4k3.2k3.0k2.8k3.8k3.6k3.2k
    Other Liabilities5.4k6.8k5.8k6.6k7.3k7.3k7.2k7.8k
    Total Liabilities19.4k22.6k23.1k24.4k26.8k29.7k30.3k32.0k
    AssetsFixed Assets8.9k9.4k9.5k10.1k12.0k13.2k13.1k13.0k
    CWIP1.7k1.0k1.2k3.0k2.4k1.2k9491.0k
    Investments1.5k5.9k3.7k3.1k3.4k4.5k4.6k3.4k
    Other Assets7.3k6.3k8.6k8.1k9.0k10.8k11.7k14.6k
    Total Assets19.4k22.6k23.1k24.4k26.8k29.7k30.3k32.0k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating1.3k2.3k4.3k-5782.8k3.3k1.9k4.6k
    Cash from Investing-1.4k-162-5.1k166-1.9k-2.4k-2.1k-3.5k
    Cash from Financing42-1.0k-250424-840-868282-1.1k
    SummaryCapital Expenditure
    Free Cash Flow-710-4793.5k-2.3k-5351.1k5693.2k
    FCF Margin

    Valuation

    Assumptions

    Current — MRF
    Price
    ₹1,30,755
    EPS (TTM)
    ₹5713.05
    PE (TTM)
    22.9
    Profit growth
    46.5%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (29.1×) and current (22.9×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹1,30,755
    vs
    Fair value · 15% return
    ₹4,46,104
    241%Undervalued

    At 46.5% growth and a 23× exit, ₹130755 only delivers your return if you pay ₹4,46,104. The price is currently baking in 17% growth.

    EPS grows 46.5%/yr for 5 years, then fades to 6% over 2, exits at 23×.

    YearGrowthEPS (₹)
    FY2746.5%8369.62
    FY2846.5%12261.49
    FY2946.5%17963.08
    FY3046.5%26315.92
    FY3146.5%38552.82
    FY3226.3% ·fade48672.94
    FY336.0% ·fade51593.31

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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