Manufactures tyres and related rubber products from 10 manufacturing plants in India, selling them under the MRF brand. Revenue is split between the Original Equipment (OE) segment, which supplies tyres to vehicle manufacturers, and the Replacement market, which serves existing vehicles through dealers and service networks. The company crossed Rs 30,000 crore in sales for FY26, with both the Replacement and OE segments growing, and it positions itself as a preferred tyre supplier for electric vehicles in India. It exports to over 60 countries, with exports at 7.58 percent of turnover. The largest cost line is raw materials at 60.6 percent of revenue, making earnings sensitive to commodity prices and supply chain conditions such as the Middle East tensions flagged by management. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Replacement (aftermarket) tyres, Original Equipment (OE) tyres, Exports (8%). Cyclical, asset-heavy tyre manufacturing exposed to raw material prices, vehicle demand, and weather-driven replacement cycles.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 19,317 | 23,009 | 25,169 | 28,153 | 31,149 |
| EBITDA (ex other income) | 2,050 | 2,389 | 4,254 | 4,084 | 4,837 |
| margin % | 10.6 | 10.4 | 16.9 | 14.5 | 15.5 |
| Owners' profit | 669 | 740 | 2,081 | 1,869 | 0 |
| EPS, as reported (₹) | 1577.97 | 1813.10 | 4907.24 | 4407.51 | 5720.39 |
| ROE % · ROCE % | 4.8 · 7.2 | 5.2 · 8.2 | 12.5 · 16.4 | 10.1 · 13.8 | 11.6 · 15.6 |
| Debt / equity (x) | 0.20 | 0.17 | 0.12 | 0.16 | 0.11 |
| Cash from operations | (578) | 2,755 | 3,301 | 1,868 | 4,590 |
| Capex | (1,707) | (3,291) | (2,155) | (1,308) | (1,434) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6,881 | 7,001 | 7,075 | 7,676 | 7,379 | 8,050 | 8,044 | 8,416 |
| Profit before tax | 631 | 424 | 661 | 670 | 699 | 917 | 930 | 650 |
| Net profit | 471 | 315 | 512 | 500 | 526 | 692 | 702 | 495 |
| EPS (₹) | 1109.85 | 743.80 | 1207.48 | 1180.04 | 1239.38 | 1631.23 | 1655.80 | 1167.97 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| MRF LTD ◆ | 54,594 | 22.6 | 2.60 | 10.6 | 11.6 | 14.0 | 14.0 | 14.1 |
| BALKRISHNA IND. LTD | 41,830 | 29.8 | 3.82 | 18.0 | 11.3 | 13.0 | 13.4 | 24.4 |
| APOLLO TYRES LTD | 26,554 | 15.5 | 1.59 | 8.7 | 8.2 | 6.2 | 10.4 | 12.8 |
| CEAT LIMITED | 13,140 | 22.5 | 2.60 | 8.0 | 13.8 | 12.8 | 15.6 | 8.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 17 Aug 2026 · MRF notifies special window for physical share dematerialisation | compliance | minimal | — | — |
| 11 Aug 2026 · MRF Q1 FY27: Revenue up 10%, Net Profit nearly flat at Rs 495 Cr | compliance | low | — | — |
| 11 Aug 2026 · MRF Q1 FY27 results: revenue up 10% YoY; appoints 2 Sr Mgmt Personnel | management changes | medium | — | — |
| 11 Aug 2026 · MRF Q1 FY27 Results: Revenue Up 10% YoY, PAT Flat; 2 Senior Management Appointments | management changes | medium | — | — |
| 11 Aug 2026 · MRF Q1 FY27: Revenue up 10%, PAT dips 2%; new senior management hires | results | high | — | — |
| 7 Aug 2026 · MRF AGM results: all 6 resolutions pass, Rs 229 dividend approved | compliance | minimal | — | — |
| 6 Aug 2026 · MRF 65th AGM held, final dividend of Rs 229 per share declared | board shareholder meetings | medium | — | — |
| 30 Jul 2026 · Board meeting on 11 Aug 2026 to consider Q1 FY27 results | results | low | — | — |
| 15 Jul 2026 · MRF informs shareholders about Annual Report 2025-26 weblink | compliance | minimal | — | — |
| 15 Jul 2026 · MRF 65th AGM notice, remote e-voting and record date details | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| JK TYRE & INDUSTRIES LTD | 10,235 | 15.3 | 1.69 | 7.6 | 12.8 | 9.9 | 12.4 | 7.1 |
| TVS SRICHAKRA LIMITED | 3,982 | 43.1 | 3.35 | 16.0 | 6.0 | 6.3 | 13.4 | 8.8 |
| GOODYEAR INDIA LIMITED | 1,661 | 27.0 | 2.74 | — | 10.1 | 12.2 | — | 4.3 |
| MEGAMONT LIMITED | 537 | 58.5 | 15.90 | 56.6 | 18.4 | 21.3 | — | 2.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 22.6 | 22.6 | 8 of 15 | 50% |
| P/B | 2.6 | 2.6 | 8 of 16 | 47% |
| ROCE | 14.0 | 9.9 | 3 of 17 | 88% |
| ROE | 11.6 | 9.9 | 6 of 17 | 69% |
| Debt / Equity | 0.1 | 0.4 | 7 of 17 | 63% |
| EBITDA margin | 14.1 | 7.6 | 2 of 16 | 93% |
| Revenue growth | 9.6 | 10.1 | 9 of 15 | 43% |
| Profit growth | (1.0) | (5.8) | 8 of 16 | 53% |
| Market cap | 54594 | 352 | 1 of 17 | 100% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
